Basic TAX RECORD KEEPING when you’re self employed

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When you’re self employed in the UK you’re obliged to keep business accounting records. Today we’re looking at what information I log to record income, business expenses, running a vehicle through the business and using our home as an office. As per usual, I am not an accountant. Always use a good accountant.

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Extension Cost Chapters:
0:00 - Introduction
3:10 - HMRC requirements
6:50 - How long to keep records?
7:25 - Logging business expenses
14:55 - Tracking business income
20:33 - Business mileage
26:28 - Using your home as an office
30:52 - Summary calculations
33:20 - Spreadsheet vs accounts software
34:40 - Dealing with electronic receipts
37:40 - Data backups and final tips

#Accounts #Expenses #tax