I need HELP

[Iwantone!!!]

my boyfriend is doing a plasting course in feb he wants to go self employed i will be doing the book keeping and i would like some advice how the help do i go about it i want to be ready before he goes live if u get my meaning like do we need an accountant like the ins and out help i have a booklet called the no nonsense guide form the goverment its good but im stuck with VAT and things !!!!

Thanks in advance x

 

[Jo]

All i would sugest is keeping all your receipts then seeing an accountant once a year
They can get you all sorts of allowances clothes etc....

 

[MrsE]

If he is planning on spending £61,000 p.a. on purchasing materials and making £70,000 of sales per year then you will need to register.
If he is planning to work on his own earning then it's highly unlikely he'll need to register.

You can do all the bookkeeping yourself but you will need to file annual returns and an accountant shouldn't charge much if your bookkeeping is up to date.

He will need to request a CIS Card (Construction Indusry Scheme) if he is planning to work in the Construction Industry i.e. plastering new build houses for a building company. If he is planning on just doing domestic plastering for homeowners then he won't need to apply.

Hope this helps you a bit.

Charm X

 

[Iwantone!!!]

thanks so he needs a CIS to work for other copmpanies but if he just does it for himself he will not need a CIS card ?

what do i need to keep for book keeping i.e cost of a job materials??

 

[MrsE]

Yes, he needs a CIS is he works for other companies even if it's just a one day job. But if he works for people in their houses he doesn't.

You don't need much for bookkeeping, you could do it on a spreadsheet if you wanted. You need to keep all receipts.

Something like the following would be perfect, less work for the accountants, less charges for you to pay: -

You need a sheet for Sales - Date, Invoice number, Description of work, Total amount.

You need a sheet for Purchases - Date, Supplier Name, Supplier Invoice Number, Description of items, Net, Vat, Gross.

You need another sheet for your Cashbook (Bank) one side with Incomings and one side with ougoings.

Then I would keep a copy of each Sales Invoice in a file and a copy of each Purchase Invoice with the receipt attached and another file with a copy of each Bank statement.

Charm X

 

[Iwantone!!!]

thank u im going mad

 

[KX]

Always thought that like the rest of us

 

[weestar21]

its catching from all the piss heads in here we get the mad side effects

i am joking honest

 

[Iwantone!!!]

Always thought that like the rest of us

im not as nutty as some heheheheheeh

 

[KX]

U mean Wobbs? She is way past help eh hun?

 

[Wobbles]

U mean Wobbs? She is way past help eh hun?

Bitch!!!!

 

[Iwantone!!!]

no i didnt mean wobbs