D
Dean the 3rd
Guest
Hi all,
I have been reading through this site for a while and you guys seem very helpful, so maybe you could help me.
I have just set up a business as a sole trader and have a few questions.
What is the best method of keeping VAT/Income tax in order. I send out about three to five invoices a week so I'm not dealing with a lot of VAT.
I was thinking of getting a folder with A4 pages and having a page for every two months of what VAT I take in on one side and what goes out on the other. And at the end total it up and that's what goes to the VAT man. Is there anything wrong with that or do the books have to be in any particular format or any particular type of book.
Can I also keep track of monies in and out of the bank this way?
Also, I have a small office set up in my parents house, in a spare room.
I give them €50 Per week for electricity, heating and the use of their wireless broadband. Is there anyway of making this payment tax deductible considering I don't get any receipts? My father is on a state pension so I'm concerned it could have some implications for him financially.
Thanks in advance.
I have been reading through this site for a while and you guys seem very helpful, so maybe you could help me.
I have just set up a business as a sole trader and have a few questions.
What is the best method of keeping VAT/Income tax in order. I send out about three to five invoices a week so I'm not dealing with a lot of VAT.
I was thinking of getting a folder with A4 pages and having a page for every two months of what VAT I take in on one side and what goes out on the other. And at the end total it up and that's what goes to the VAT man. Is there anything wrong with that or do the books have to be in any particular format or any particular type of book.
Can I also keep track of monies in and out of the bank this way?
Also, I have a small office set up in my parents house, in a spare room.
I give them €50 Per week for electricity, heating and the use of their wireless broadband. Is there anyway of making this payment tax deductible considering I don't get any receipts? My father is on a state pension so I'm concerned it could have some implications for him financially.
Thanks in advance.