|
Hi,
I have had someone wanting some advice on going self employed.
He is a plumberand I need help with 3 items!
Item 1.
If he registered as self employed now (approx. 4 weeks before the end of the tax year) will he have to complete a self assessment for the year ending April 2016?
In my opinion it would make more sence to have an accouting period of 13 months ending tax year 2017?
Item 2.
Also the van he has already purchased, Am I right in thinking there is a period prior to start date where set-up expenses are allowed to be included even though they were incurred prior to registering?
Item 3.
I would also like to know what others would do with regards to the van...
It is second hand with a purchase value of £3600
Would you claim the whole purchase cost under AIA in the first year? (and claim running cost)
Capitalise and depriciate over 3 years (and claim running costs)
Capitalise and Claim milage @ 45ppm (and not claim running cost)
Could someone with more experiance than me please advise me of the best method and why? so I understand!!
Any help would be much appriciated! thank you!
Tash :-)
|
