What can I claim for? Can I claim a proportion of my household bills?
· Equipment and supplies you use for making your lovely items( if the equipment is expensive then you may need to claim back the cost of it over several years)
· Courses you go on to maintain( not improve) your standard – e. g. an annual refresher is fine but going to learn a new skill( which would subsequently increase your income) is not.
· You may be able to claim a proportion of your household bills if you work from home
· Here’ s a link to what you can claim for: http:// www. hmrc. gov. uk / manuals / bimmanual / bim47820. htm
· You can’ t claim for food unless associated with an overnight stay, nor can you claim for clothes unless they are really specific to your job( e. g. Kevlar gloves)
Do I need an accountant?
· Not necessarily. When you’ re just starting out with a small craft business your tax return should be fairly straightforward.
· If you do want an accountant, shop around. Some places accountants do a monthly payment( which can be good as you know where you stand).
Online tax return
Yes, you are expected to do your tax return online. When you register for the first time your username / password may take some time to come through, so please register early enough that it will be with you in time. Keep your password somewhere safe.
Might I get money back? If your business is making a loss and you are also working( employed) then you may get a rebate. Can I be employed and self employed?
Yes you can. If you are doing a lot of self employed work you may have a duty to tell your employer.
I need help!
You can ring the HMRC and ask them questions. Be prepared to be on hold for a while as they can be quite busy. A useful telephone number for them is 01355 359022. The HMRC have webinars and e-learning packages to help you, and also run courses on how to get started and fill in your tax return This is a very useful link. http:// www. hmrc. gov. uk / startingup / helpsupport. htm
Jane Cameron. Please note: This introduction is no substitute for specialist advice.
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