Thinking of getting professional help...

Ficheall

.

thegolfer

You'll have to tell us a little bit more that that...ðŸ˜

Ficheall

Well, I'd changed my mind and tried to delete the thread, but failed :P

I've decided getting an accountant would be lazy and unnecessarily costly, so I'm currently trying to wade my way through panel B.

Bothered by these repeated mentions of accounts though.. I don't have any..

Ficheall

Does
143.
Cash / Bank (Debit)
- this is cash on hand or in a bank. It should include all deposit accounts, savings accounts, current accounts, Credit Union accounts, Building Society accounts, etc.

mean my personal current and savings accounts etc, or am I supposed to have one someway linked to a (nonexistent) business account?

I've just been doing some remote work for a US company, for less than 10k a year, so I've not opened a separate account or anything, just cashed the monthly cheques into my current account...


And similarly for the Net Profit/Loss per accounts?

thegolfer

Ficheall wrote: »

Does
143.
Cash / Bank (Debit)
- this is cash on hand or in a bank. It should include all deposit accounts, savings accounts, current accounts, Credit Union accounts, Building Society accounts, etc.

mean my personal current and savings accounts etc, or am I supposed to have one someway linked to a (nonexistent) business account?

I've just been doing some remote work for a US company, for less than 10k a year, so I've not opened a separate account or anything, just cashed the monthly cheques into my current account...


And similarly for the Net Profit/Loss per accounts?

That makes better sense as to what you are trying to achieve.

Normally when businesses prepare their accounts, they have a set of financial statements ready, ie accounts.

In your case, all proceeds of the trade has been lodged to your personal\general funds.

I would just refer to the Income and Expenditure figures only and leave out general funds. The trade is small, and income can be easily identified if it were to come up in an audit situation.

Your income and expenditure should be sufficient for this return.

What you could do at a later point is to set up a separate account for the income and transfer any surplus to your personal account.