Some Questions about ROS Form 11 fields

B

bearaman

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Hi,
I'm filling out my tax return for 2009 through ROS and I have a few questions about some of the fields. My wife is self-employed and the questions are about that area.
1. Under Expenses and Deductions, there's an entry for Salaries/ Wages, Staff Costs. Can she enter the wage she paid herself here? Does it have any impact on the net profit?
2. In the same section, there's a field called Provisions including bad debts. Does this fgure have any impact on net profit?
3. Under Capital Acount and Balance Sheet Items, there's a field for Drawings. Is this the same as wages?
4. In the same section, there's Cash/Bank (debit) - i this for any money in the bank at the end of 2009?

Thanks very much for any help offered.
B.
 
Assuming she is operating as sole trader:
1. Can't enter her wages (she can't pay herself a wage)
2. Specific bad debt write offs are an allowable deduction. General bad debt reductions are not allowable
3. Drawings is money taken from business by your wife.
4. Yes. If overdrawn enter figure in line 140.
 
Without trying to be smart about it, if you don't know the answer to the first 3 questions yourself then you probably shouldn't be completing the tax return yourself.
 
Hi,

A query related to the thread - is there anywhere on ROS for preliminary tax paid? looked high up and low down but no sign.

It does not come up automatically when you do calculation, thought it should.

thanks

T
 
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