Ummmmmm, so I have to submit a self assessment like some of you guys by 31/10 or 31/01, and have little clue of where to start. I know there was apparently a thread on here previously with some good advice, but can't seem to find it?
Anyone know if its better to: do it yourself with a bit of research? get an agency to do it? get a lawyer to do it?
Anyone also know of a good lawyer/agency? Does this indeed save you any cash?
As far as I can muster tax deductibles include: bike stuff, spares, repairs, mileage, lunch? Anything Im missing?
I always did it myself but as I found out later for 200 quid more they (accountants) can 'save' you quite a lot of cash. Depending on a case, of course. Sometimes it was £300, in some case it was something like £500. I mean those people earned similar amount od money as I did and had similar bike stuff expenses but paid less tax. One year i deducted around 25% of my rent costs claiming it was for a workshop purposes. When the tax man made an enquiry into my tax return later he didn't find anything wrong with that. But i must admit i completely made that 25% up. I also claimed radio/PDA/uniform/PDA repair costs. I'm not sure about the mileage though.
Get an accountant they save you money and headache, I did my own returns for a while and it drove me crazy. PM or phone me if you want a good accountants number.
I did used to do mileage though and that is well worth doing, was my biggest expense.