Self-Assessment for the Self-Employed : Wednesday 15 October 2008

This was aimed at the self-employed who are completing their Self Assessment Return for the first time time. The stress is on completion of the Self-Employed pages of the Return and the difference between the Short and Full Return.

The Workshop was practical and delegates completed the Self-Employed pages for a freelance Gardener. The knowledge gained in the first Workshop regarding record keeping and the difference between allowable and disallowable expenditure was put to good use as the delegates began to fill in the appropriate boxes on the Return. Information regarding car expenditure and mileage allowances was expanded as were the rules for claiming Capital Allowances. Future changes in the area of Capital Allowances were highlighted by the presenter. The Workshop included information on Accounting Periods and how to calculate taxable profits. Class 4 National Insurance was covered in more detail as were HMRC’s Online Services.

The Workshop finished with a reminder about time limits and penalties.