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GNUCash Question

Mindfulness · 2014-01-16 17:25:34

I run my own business as a Sole Trader. I'm also registered with an Umbrella company as some of my clients require this protection. I'm using GNUCash for my accounts but am very new at this. Payments coming through the Umbrella company are taxed at source and I receive the net pay. My other clients pay me and I have to…

16-01-2014 06:25PM

#1

Mindfulness

Registered Users, Registered Users 2 Posts: 118 ✭✭

Join Date: January 2013

Posts: 89

I run my own business as a Sole Trader. I'm also registered with an Umbrella company as some of my clients require this protection.

I'm using GNUCash for my accounts but am very new at this. Payments coming through the Umbrella company are taxed at source and I receive the net pay.

My other clients pay me and I have to complete a self-assessment tax return.

I'd like my accounts to reflect all of my income but want to know for tax calculations purposes whether I need to put my net income into my accounting software or my gross income?

Any help or advice?

BTW, I'll be getting a proper accountant to file the self-assessment for me but I want that person to have very little work to do on my accounts

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Comments

#2 16-01-2014 08:47PM

Immy

Registered Users, Registered Users 2 Posts: 260 ✭✭

Join Date: October 2013

Posts: 252

Gross. The tax that was taken at source will be taken away from the final liability.

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