smithy said:there really isn't enough income to use an account............. "Self Assesment" form from the tax office & I am completely lost on how to complete it.
Thank you for your most useful, informative & helpful response.Joe1234 said:You do need an accountant, regardless of how little income there is, particularly if you cannot complete the self assessment form.
Glenbhoy said:he may be reasonably cheap (particularly if (s)he's doing it as a nixer, you should be able to find a trainee accountant who works in the correct practice environment).
Glenbhoy said:There is no requirement for this person to have TAIN etc,.
I don't know where you work but the vast majority of accountancy firms in this country are small firms specialising in sole traders and small companies. I doubt if many would turn down work like this.Glenbhoy said:and in a job this size very few firms would be interested in it,.
Glenbhoy said:often an employer would point someone wanting this this type of job in the direction of one of their more senior trainees.
This is a matter of subjectivity but in general I don't think that trainees are wise to wilfully break the terms and conditions of their training contracts. The consequences can go further than being an issues solely between the trainee and their firm. The ICAI for example (at least officially) take a dim view of trainees and other unqualifieds doing accounting work for the public on their own account. In the event of a complaint to an Institute about "nixer"work done by a person who happens to be a trainee under that Institute's system, the trainee might find the Institute a far tougher adversary than their employer.Glenbhoy said:As for the threat of instant dismissal, given the dearth of trainees at this stage, I doubt it somehow!.
Glen, thanks a million. I have kepy a basic record on income & expenditure. On the expensed side, I've broken down the vatable figures (still not sure if that's applicable) My husband fully intends to get an accountant eventually, I have called a few accountants and they were asking for silly money to be honest. He has only been at this since December and between buying the car and all the expenses, he literally has a week's wages out of it. So I figured after 12 months, then it would be wise to hand all the crap over to the accountant. I just couldn't see any of the ones I called being too impressed with writing up petrol & car wash receipts!!!Glenbhoy said:Smithy, what did he do prior to taxi driving? I would have thought that he'd would'nt have to complete any tax returns until November 2008 (if he started up this year) due to the start up rules.
The most basic thing you need is an income and expenditure account. At this stage you should do the following. Keep a record of his daily takings, and his expenditures (whether deductible or not, that can be decided later). I would also recommend that you get an accountant to complete the accounts and fill in the form 11, if you have done a good job with the cash books, (s)he may be reasonably cheap (particularly if (s)he's doing it as a nixer, you should be able to find a trainee accountant who works in the correct practice environment).
frando said:Hi Smithy, I worked a taxi for 15 years and from my experience I would advise your husband use the facilities of whatever taxi union he joins as they have all the experience. In my time Tommy Gorman of the National Taxi Drivers Association used to do the tax returns for the drivers. They used to be in Camden St area at the time.
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