How to reduce Tax by claiming Business Expenses as Sole Trader or Partnership - Self Assessment UK Tax Return 2015

How to reduce Tax by claiming Business Expenses as Sole Trader or Partnership - Self Assessment UK Tax Return 2015

You have probably sorted most of your documents to enable you to complete your Tax Return 2015 before the 31 January 2016 deadline, but you still have questions as to what expenses and costs to claim as Business Expenses.

The common Business Expenses that Sole Traders and Partnerships can claim are as follows:

Computer Equipment
Website Hosting Costs
Internet Costs
Telephone Bills
Mobile Phone Costs

Office Furniture
Printing Costs
Stationery Costs

Office Electricity Bills
Office Heating Bills
Office Water Bills

Office Premises Rental
Insurance for Business

Train Tickets
Business Flights
Hotels Accommodation
Business Meals
Business Mileage
Parking Fees
Toll Charges

Advertising and Marketing Costs
Annual Entertainment for employees

Protective Clothing
Uniform Clothing
Costume Clothing

Training Costs
Professional Subscriptions
Legal and Professional Fees
Accountancy Fees

Bank Interest and Bank Charges
Credit Card Charges

The list is not exhaustive and there are certain rules and regulations applicable to most of these Expenses, so that they can qualify as Business Expenses.

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How to Organise your Documents for your Self-Assessment UK Tax Return 2015

French Version:

31 Janvier 2016 - Self Assessment UK Tax Return 2015 - Documents

La date limite de declaration de votre Tax Return 2015 est le 31 Janvier 2016. Savez-vous quels documents vous avez besoin pour completer votre Tax Return? Les plus communs sont les suivants:

Salaires et impots - P60 ou P45 (plus dernier fiche de paie)
Avantages en nature - P11D
Occupational Pension - P60 et Certificat de Pension
State Pension - Pensions recettes et Lettre de Notification 2014/2015
Self-Employment - Chiffre d'affaires, Depenses et Resultat
Partnership - Chiffre d'affaires, Depenses et Resultat
Investment revenues - Certificat d'Interets bancaires, Dividendes Vouchers, Recettes de logement
Autres revenues - Child Benefits, Certificat d'assurance vie
Contributions pension - details des paiements
Gift aid charity contributions - details des paiements
Mortgage interets - Mortgage statement

Si vous avez d'autres sources de revenues, vous aurez besoin de documents pour l'annee fiscale de 6 Avril 2014 au 5 Avril 2015.

Pour tout autre information, n'hesitez pas a nous contacter sur 00 44 758 462 3239 ou envoyez un email a melanie.lck@gmail.com. Sign up pour recevoir gratuitement des Tips et checklists!


English Version :

31 January 2016 - Self Assessment UK Tax Return 2015 - Documents

The deadline for submission of your Tax Return 2015 is 31 January 2016. Do you know what documents you require to complete your Tax Return? The most common ones are as follows:

Employment Income and Tax - P60 or P45 (plus last payslip)
Employer Benefits - P11D
Occupational Pension - P60 and Pension Certificate
State Pension - Pensions received and Notification Letter 2014/2015
Self-Employment - Business Income, Expenses and Profits
Partnership - Business Income, Expenses and Profits
Investment Income - Certificate of Bank Interests, Dividends Vouchers, Rental Income
Other Income - Child Benefits, Certificate of Life Assurance
Pensions Contributions - Details of Payments made
Gift Aid Charity Contributions - Details of Payments made
Mortgage Interests - Mortgage Statement

If you have other sources of revenue, you will need the documents that relate to the fiscal year from 6 April 2014 to 5 April 2015.

For further information, please contact us on 00 44 758 462 3239 or send an email to melanie.lck@gmail.com. Sign Up to receive Free Tips and checklists!

31 Janvier 2016 - Self Assessment UK Tax Return Deadline (French and English Version)

31 Janvier 2016 - Self Assessment UK Tax Return 2015 Deadline 

French Version: (Merci de vous enregistrer pour votre Tips et Checklists gratuits)

La date limite de declaration de votre Tax Return 2015 s'approche. C'est bientot le 31 Janvier 2016. Etes-vous prets?

Le Self-Assessment Tax Return s'applique a votre situation si vous ne payez pas d'impots deductible a la source PAYE et vous gerez une entreprise et recevez des revenues au Royaume-Unis. Vous devez aussi declarer vos sources de revenues tels que des Interets, Dividendes, Recettes de logements entre autres.

Si vous gerez une entreprise, les benefices de l'entreprise sont taxables et devront être declarees sur votre Tax Return 2015.

Les dossiers que vous devez maintenir sont les documents comptables tels que les Releves Bancaires, les factures de vente, les factures d'achats et depenses ainsi qu'un tableau Excel recapitulatif des transactions bancaires. Un Excel de la liste des factures est aussi utile.

Si vous avez d'autres sources de revenues, il vous faudra les documents qui concernent l'annee fiscale de 6 Avril 2014 au 5 Avril 2015.

Les documents necessaires sont les fiches de paie, le P60, le P11D, les Certificats d'interets bancaires,  les Dividends Vouchers, les Recettes de logements, et autres sources de revenues.

Les Impots sont calcules bases sur les sources de revenues au Royaume-Unis et d'ailleurs. Le paiement des Impots est dans la plupart des cas, fait en deux parties, le 31 Juillet et le 31 Janvier, et une troisieme 'balancing payment' le 31 Janvier. 

La declaration de votre Tax Return 2015 sera faite en ligne et la date limite est le 31 Janvier 2016.

Tout retard de declaration des Tax Returns va generer des penalites de retard aupres des services Impots le HMRC.

Afin d'eviter de penalites, il vous faudra declarer votre Tax Return 2015 avant les delais et vous devez etre certain que votre enregistrement en ligne sur le site HMRC est fait. Vous aurez besoin de votre Unique Tax Reference (UTR) qui se trouve sur la forme SA100 de votre Tax Return 2015 et vous aurez besoin de votre National Insurance Number ou Postcode. 

L'enregistrement en ligne sur le site HMRC pourra prendre jusqu'a une semaine. 

Il ne vous reste donc pas beaucoup de temps car le 31 Janvier 2016 est tres proche. 

Pour tout autre information, n'hesitez pas a nous contacter sur 00 44 758 462 3239 ou envoyez un email a melanie.lck@gmail.com


English Version : (Please Sign Up for Your Free Tips and Checklists)

31 January 2016 - Self Assessment Tax Return 2015 Deadline

The deadline for submission of your Tax Return 2015 is imminent. It is almost 31 January 2016. Are you ready?

The Self-Assessment system is applicable to you if you do not pay Tax at source under PAYE scheme  and you own and manage a business and receive income in the UK. You also have to declare other sources of revenues such as Interests, Dividends, Rental Income.

If you own and manage a business, the profits of the business are taxable and must be declared on your Tax Return 2015.

The records that you are required to keep are the accounting documents such as Bank Statements, Sales Invoices, Purchases Invoices and Expenses Receipts, as well as an Excel spreadsheet of bank transactions. An Excel spreadsheet of the list of Invoices is also helpful.

If you have other sources of revenue, you will need the documents that relate to the fiscal year from 6 April 2014 to 5 April 2015.

The relevant documents are your payslips, your P60, your P11D, Bank Interests Certificates, Dividends Vouchers, Rental Income receipts amongst others.

The basis of your tax liability is the revenue income within the UK and abroad. The payment of tax liability is usually made in two instalments on the 31 July and the 31 January, with a third 'balancing payment' made on the 31 January.

Submission of your Tax Return 2015 will be made online and the deadline is the 31 January 2016.

Late Filing of the Tax Returns incur late filing penalties imposed by the tax office HMRC.

In order to avoid late filing penalties, submission of your Tax Return 2015 has to be made before the deadline and you have to be sure that your registration online with HMRC is set up. You would need your Unique Tax Reference (UTR) which is located on the form SA100 of your Tax Return 2015 and you would need your National Insurance Number or Postcode. 

Registration online with HMRC can take up to one week.

You do not have a lot of time left as 31 January 2016 is just round the corner. 

For further information, please contact us on 00 44 758 462 3239 or send an email to melanie.lck@gmail.com