Self employment tax and expenses help
Hi, I started being self employed in Jan this year. I have created a spreadsheet to work out my tax and NI but I don't quite trust my sums. Does anyone have a good template? Also does anyone know how to work out your expenses e.g broadband, wfh such as electricity, council tax etc?
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- I just use Freeagent (comes free with Natwest business account) + my accountant. Honestly it's not worth your time.
- Hi Ilona,Good explanation on the gov.uk website on figuring out your expenses - https://www.gov.uk/simpler-income-tax-simplified-expenses/working-from-homeNutmeg have a handy calculator to check your tax and NI so you can check the calculations on your spreadsheet - https://www.nutmeg.com/self-employed-tax-calculatorWishing you alll the best with your ventures,Zena
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