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@JACB006 2 сағат бұрын
Adam are you quite certain that you don’t pay inheritance tax on inherited assets (money) when you are a non resident? In 2017 my mother passed away, I was a NZ resident and had to pay inheritance tax on the inheritance she left me. Was I wrongly taxed?
@TomassSipko 4 күн бұрын
Hi there! First of all - an amazing and really informative video. I got a question though. Basically, I run a business from home and I'm using 2 rooms for it. One of these 2 rooms serve as a warehouse, is fully stacked with inventory and packing materials and is used only for business. How do I calculate the monthly usage of that room? Thank you.
@gosimpletax 6 сағат бұрын
Hi Tomass, thank you for your kind words - we really appreciate it! In regards to your use of your home as an office, I have provided a link below that will allow you to calculate the amount you can claim: www.gosimpletax.com/work-from-home-allowance-calculator/#:~:text=You%20can%20claim%20a%20flat,the%20more%20you%20can%20claim. Hope this helps you? Please do let me know! - LR
@kernow9324 5 күн бұрын
I'm a freelancer, sole trader, with what I believe are uncomplicated accounts, but I'm too scared to do my own accounts, so I pay an accountant. I'm tempted, but worry about getting something wrong. Is GoSimpleTax suitable for me, or does it require a head for figures, which I don't have?
@kevinhall2379 6 күн бұрын
Where on the Government website for self assessment do you enter details of your private pension?
@gosimpletax 5 күн бұрын
Hi! You would need to contact HMRC if you have a query about using the HMRC software. - LR
@tracysturgess6184 9 күн бұрын
No u can’t claim agents fees that stopped a few years back
@flurinjenal374 11 күн бұрын
Top video, subscribed!
@gosimpletax 4 күн бұрын
Welcome aboard!
@flurinjenal374 11 күн бұрын
One more question: Where do the GBP 10 come from at 16:40? The amount you nominate for the remittance basis. Is GBP 10 a valid standard answer for those cases, even the amount of income (not disclosed in this case) is far greater than GBP 10?
@gosimpletax 11 күн бұрын
Thank you for subscribing! Answering your question too - the £10 is an example amount as the minimum nomination amount can be from £1. We would advise you seek professional advice as it is not a one rule fits all and pre-planning is required/advised. Hope this helps? - LR
@flurinjenal374 11 күн бұрын
@Sure, thanks!
@flurinjenal374 10 күн бұрын
@@gosimpletax Ok, thank you!
@DimndSLM 14 күн бұрын
Is this in the USA?
@gosimpletax 13 күн бұрын
No, only the UK - LR
@DimndSLM 13 күн бұрын
@ thank you for answering so quickly
@briansymmes7917 20 күн бұрын
I can’t even get my UTR number, first year paying tax, I’ve got no clue.
@gosimpletax 17 күн бұрын
Our blog may be able to you - www.gosimpletax.com/blog/a-guide-to-utr-numbers/
@najibhaidari8438 24 күн бұрын
Fabolous customer care service. Although I haven't been able to decide using the method to calculate my tax return but since last few days that I came across this video and left some comments and even direct email. Their response and support t was behind my expectation. I strongly recommend subscribing or if needed purchasing their software and be sure their human support would be available. and I have to thank Zak for the great support.
@gosimpletax 4 күн бұрын
Thanks for sharing!
@MeetLifeInTheRaw 25 күн бұрын
Nice fact and you can still see evidence of this in houses that built before 1851, when this tax was abolished after pressure from doctors and campaigners who argued that lack of light and fresh air from widows was a source of ill health 👍🏻
@ertana7609 26 күн бұрын
I'm selling servers and computers online last five years from home, my vision fded up by looking at screen at least 12 hours per day, I went to a famous opticians for test ended up with two glasses one cheap for £25 and an expensive one £155, actually they came as 2 in 1 for £180, can I claim on my self assessment as business expense considering my work fd up my eyes? Half serious question
@gosimpletax 26 күн бұрын
Due to the duality of benefit being both personal and for business, I'm not sure how HMRC would interpret you claiming it as an expense. You'd be best off consulting them for definitive guidance on how to proceed. Hope this helps? - LR
@jamie-u9y5d 28 күн бұрын
Hey, for reselling goods, buying stock to resell, lets say i have all stock calculated and all ready to put for allowable expenses. How does HMRC know im not lying or how do they know its accurate? What if i bought stock in cash or a bank account not connected to me?
@gosimpletax 27 күн бұрын
HMRC operate on a good-will basis whereby you're expected to state the truth and they'll take whichever figures you submit as facts. If they'd like, they could open an investigation into you whereby you'd be asked for your receipts, bank transactions etc, to provide context for the entries made on your tax returns. Hope this helps? - LR
@BibimbapRi 29 күн бұрын
Can I choose not to provide the foreign income and gains and loss figures under remittance basis?
@gosimpletax 28 күн бұрын
You have to declare all foreign income and gains, regardless if you're a UK resident. If you're not a UK resident, then it may not be required to choose. Hope this helps you? Let me know if you need anything else. - LR
@najibhaidari8438 Ай бұрын
how do you calculate all these expenses incurring as result of working from home?
@gosimpletax Ай бұрын
If you are referring to bills and you are self-employed, you apportion it in relation to the rooms used as well as hours used. Hope this helps you? Again, please do let me know if you need anything else and I will be happy to help you :) - LR
@najibhaidari8438 Ай бұрын
@gosimpletax Thansk a lot for your patient. I tried to use a simple tax calculator from your website but faced a challenge, which is: adding the date not sure which date bcaus3 I'm trying to add a total cost of everything for whole year. 2 Do I have to add each month or whole year? For instance, my house rent. 3- When say aportuon is this calculator will decided that portion or it is me to make estimation? 4 once I finished, can I directly get the outcome to my tax return report, or do I have to use the data only?
@najibhaidari8438 Ай бұрын
I have tried to use your website but I got confused to which date shall I used when I enter any expense and also when it ask for attachment. not sure do I have to use spesific date for every expense and do I have to provide attachment for?
@gosimpletax 28 күн бұрын
Hi, if you email our support team, they'll be able to help you with this. Our email is [email protected]. Thanks!
@GlenEngland-w9w Ай бұрын
This is great guide and calculator thank you. I have some questions if anyone could help: Total rent and similar bills = £1,500 I live with my partner and we split the payments evenly therefore £750 left. 4 rooms in total: 1/4*£750 = £187.50 I spent 2 days working from one room, therefore 2/7*£187.50 = £53.57. I notice all the examples don’t consider when you occupy the place with others, I assume you have to just start with your share?
@gosimpletax Ай бұрын
It doesn’t make a difference if someone lives with you or not. If that was the case, self-employed individuals with families would barely be able to claim anything for their office as home expenses. The only factors that come into play are number of rooms in total and the number of rooms used, as well as the time worked. Hope this helps you? If not, please do let me know and I'll be happy to help! :) - LR
@GlenEngland-w9w Ай бұрын
@ thanks a lot for the response! So despite sharing the rent cost and council tax etc, I can essentially go with full rent x days of the week (2/7) x split of rooms 1/4)? Also, the flat I rent is actually a 2 bedroom, but I have taken into account a living room and kitchen (these two are actually one large open space). Should I therefore be saying 4 rooms or actually 2 (2 bedrooms)?
@marcinprygon1740 5 күн бұрын
@@gosimpletax hello mate, great content. Quick one, self employed joiner, work from home (both office and workshop, which is located in my back garden) what would the fomula be in my case?
@najibhaidari8438 Ай бұрын
when I use the your website, it ask for the date of every expense, although I'm trying to fit in the expense as of someone working from home during the whole years. how would calculate this and what date can be accepted? there is only one date option.
@gosimpletax Ай бұрын
The dates are irrelevant as they’re only for your own reference (all that matters is they fall within the tax year that you’re filing for.) The same applies for attachments, in most cases, they’re not required and just for your own reference. You may disregard them if you don’t want to fill them in. Hope this helps? Please let me know if you need anything else. - LR
@najibhaidari8438 Ай бұрын
Thanks a lot for your respond although I have created my account and tried to use the website you provided, I believe it needs me to provided evidence and calculation for every bit of expense incurred during 12 months which is really impossible for someone to have it all in position. majority my works are from home and some visit to the sides but no evidence to prove everything.
@gosimpletax Ай бұрын
The dates are irrelevant as they’re only for your own reference (all that matters is they fall within the tax year that you’re filing for.) The same applies for attachments, in most cases, they’re not required and just for your own reference. You may disregard them if you don’t want to fill them in. Hope this helps? Please do let me know if you need anything else. - LR
@najibhaidari8438 Ай бұрын
urgent guidance needed please; For someone who works as interpreter from home and also having some trips to client office where the company agreed to add some addition to the payment how this would be claimed? secondly can you kindly advise about program or webinar or anything that can help me how to cover the rest of expense as you just explained the calculation for these factors? I'm just not sure how to deduct them properly. it is for 2023-2024 do i need to pay the accountant or use my own laptop?
@gosimpletax Ай бұрын
Unfortunately, I’m unable to give a straight cut answer, as there are quite a few factors that come into play that’ll influence the guidance I can provide. I’d suggest getting in touch with our support team who’ll be more than happy to assist further. - LR
@sandhyarathod817 Ай бұрын
What about meals? Are they allowable expense?
@gosimpletax Ай бұрын
Meals are only an allowable expense if you’re on a business trip and they’re purchased on said trip (the idea is that it’s allowable because it’s outside of your usual routine). If you want to claim for food that you’ve purchased on a standard lunch break, for example, this won’t be allowable as you’ll have bought it anyway. Hope this helps? If not, please do let me know. - LR
@JohnnySTEWARTY Ай бұрын
HELLO! I HAVE DEDUCTIONS AS SELF EMPLOYED BUT I DONT SEE WHERE IS THE SECTION FOR DEDUCTIONS AT 103 FORM. THANK YOU VERY MUCH
@gosimpletax Ай бұрын
It would go in the expense section on the SA103 page. If you look at the orange box, they’ll go under here. Click ‘+ GROUP’ and you’ll be able to add all the categories you’d like. Hope this helps? If you need anything else, please do let us know. - LR
@hulksmash3259 Ай бұрын
Does the milage cost and the car purchase go into the single expense section together? It said on the gov site that i can knly claim 24% of the purchase of vehicle.
@gosimpletax Ай бұрын
This article may help you - www.gosimpletax.com/blog/tax-allowances-vehicle/
@sarabooth-kilby6457 Ай бұрын
Can you claim the interest from the mortgage you are paying on the rented property?
@gosimpletax Ай бұрын
Since April 2020, you've no longer been able to deduct any of your mortgage expenses from your rental income to reduce your tax bill. You now receive a tax-credit based on 20% of your mortgage interest payments. www.gosimpletax.com/blog/how-much-tax-does-a-landlord-need-to-pay/#:~:text=You%20can%27t%20claim%20mortgage,receive%20a%2020%25%20tax%20credit. ^^ Check this out too, to help answer your question a bit more. Hope this helps? Let me know if you need anything else. - LR
@JamesFosterSailing Ай бұрын
You can no longer claim mortgage interest
@gosimpletax Ай бұрын
You can find out more here - kzbin.info/www/bejne/eHrLg4qil9maoJo
@JamesFosterSailing Ай бұрын
@ www.gov.uk/government/publications/furnished-holiday-lettings-tax-regime-abolition/abolition-of-the-furnished-holiday-lettings-tax-regime
@JamesWRDunn Ай бұрын
If you claim property allowance you are not allowed to claim a deduction for expenses. It’s almost always worse to claim property allowance but in some niche cases it’s reasonable.
@flurinjenal374 Ай бұрын
Good video, one question! If I send myself just a little bit of money from abroad to the UK in order to pay bills in the UK, which part counts as remmited? Only the bits I send to the UK? Or the whole original bank account?
@gosimpletax Ай бұрын
Only the bits you send to the UK. Hope this helps? - LR
@flurinjenal374 11 күн бұрын
@@gosimpletax Only saw your answer now. Sure, very helpful, thanks!
@DogdadDIY Ай бұрын
I am employed and use my car for deliveries.You say there"s no tax implication on the 45p but i've read you will be reimbursed according to your tax bracket ie 20% or 40% which results in my case of 1/5 th (20% tax relief)of the 45p being payed. Is this correct?
@gosimpletax Ай бұрын
There is no tax implication on mileage allowance claims. There's only a tax implication when your employer reimburses you for an amount in excess of HMRCs approved rates (i.e. 45p for first 10,000 miles, 25p thereafter), then that additional amount is treated as income and will be taxed in accordance to your tax bracket. Hope this helps you? Let me know if you need anything else! - LR
@PhoebeBegnoche 2 ай бұрын
You're doing a fantastic job! I have a quick question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?
@gosimpletax 2 ай бұрын
Thank you so much - we do appreciate this kind feedback! Sadly though, we cannot help with this question, you are best off checking with either OKX or Binance. Hope this helps you a little? - LR
@lukecoe1 2 ай бұрын
When using the calculator what about the broadband / water bill? How much of that can you claim? Also, does this need to be submitted somewhere specific on the self assesment or just added into expenses when the calculation is made?
@gosimpletax 2 ай бұрын
You’d apportion it so the figure only reflects the amount used solely for business purposes only. If you don’t know the exact figures, please use an educated guess. -LR
@jeanettestafford9583 2 ай бұрын
in the simplified travel - is meals hotels etc included or extra?
@gosimpletax 2 ай бұрын
Under simplified expenses, no they're not included as part of the flat rate. Flat rate approach only covers vehicle-related expenses like fuel, insurance, maintenance etc, I hope this helps :) - AG
@jenniferjuniper12 2 ай бұрын
This was great, thanks so much for the advice 😊
@gosimpletax 2 ай бұрын
You're welcome, Jennifer! I'm glad we we're able to help - AG
@ANGELBARROYETANUAæEZUnknown 3 ай бұрын
What happen with the new reform?
@gosimpletax 2 ай бұрын
Hi, this video may help you - kzbin.info/www/bejne/Y2ndY5SlmZqcd6c - AG
@GusDrennan 3 ай бұрын
Amazingly helpful - thank you!
@gosimpletax 3 ай бұрын
Glad we're able to help! - AG
@lewiswhite5058 3 ай бұрын
When I follow the process you have said it says sign into your business tax account and not tax account. I need tax account as I do now own a business I juts need my utr to give to the company I am going to start work for soon?
@gosimpletax 2 ай бұрын
www.gov.uk/register-for-self-assessment - Try this! I hope it helps, let us know and we will be happy to help. -LR
@Sherlika_Gregori 3 ай бұрын
Does marriage allowance affect/reduce pension ?
@gosimpletax 2 ай бұрын
No, the marriage allowance transfer only impacts income tax calculation, not National Insurance contributions or pension contributions. I hope this helps - AG
@heathcotesj 4 ай бұрын
I tried entering just like you did at 37:40 the mortgage loan interest in Box 44, however after saving it the figure is not shown like your is. What's wrong?
@gosimpletax 3 ай бұрын
Hi, please can you email our support team so they can look into this for you. Our email is [email protected] thanks - AG
@Antonio89C 4 ай бұрын
Can i claim the expenses for the food i eat at work?
@gosimpletax 3 ай бұрын
Please check out our blog - www.gosimpletax.com/blog/disallowable-expenses-what-cant-you-claim/
@azrahussain456 4 ай бұрын
Hi there, if a person is employed and self employed as a delivery driver what expenses are allowable as i know business insurance is allowable but if the person has petrol receipts and car repairs receipts should they just claim for mileage or list separately could you please advise
@gosimpletax 3 ай бұрын
This blog may help answer your question - www.gosimpletax.com/blog/allowable-expenses-self-employed-couriers-and-delivery-drivers/
@dildilpakistan7535 4 ай бұрын
If traveling to a permanent work place so you cant claim fuel or you cant claim all the things related to travel like hire purchase interest capital allowance for car repair mot insurance etc?
@gosimpletax 2 ай бұрын
No, you can’t claim for these if you’re employed. If you’re self-employed, please see www.gov.uk/expenses-if-youre-self-employed - LR
@Flat-Five 4 ай бұрын
Hi, when you are adding up rooms in your home, are you including utility, dining room, bathroom etc or just bedrooms? Thanks
@gatekeeperboxing5898 2 ай бұрын
As far as I know it is all rooms minus the kitchen & bathrooms and probably any utility rooms.
@gosimpletax 2 ай бұрын
You include all rooms excluding halls, bathrooms and toilets. I hope this helps - AG
@AydeeB 4 ай бұрын
Very useful thank you! Can you claim mileage for a return journey? For example, if you are self employed can you claim back mileage for a journey from your home address, to a work location and then from the work location back to your home address?
@gosimpletax 3 ай бұрын
No problem. Glad were able to help :) Please check out this blog - www.gosimpletax.com/blog/car-allowance-and-claiming-mileage/
@harminderkambow9642 2 ай бұрын
I'm also interested in this question. I do handyman jobs as a side hustle, so I use my personal car to travel to people's address and back home again (the purpose is wholly for business).
@gosimpletax 2 ай бұрын
If it's a designated place of work (i.e. you have your own business and you go to the same place every time) then you're not able to claim this. But if there is no fixed address, then yes you should be able to claim :) - AG
@elainec.1444 5 ай бұрын
Question: As a freelancer, i am earning from working as a freelance (developer) during at night. I am planning to start making my KZbin channel, can I consider allowable tax expenses when I buy videocamera even my channel is not yet earning money?
@gosimpletax 2 ай бұрын
Yes, these are called pre-trading expenses and should be claimed on your first day of trading - AG
@OneAndOnlyMe 5 ай бұрын
Can employees (non self-employed) claim any expenses?
@gosimpletax 2 ай бұрын
This article should help answer your question - www.gov.uk/tax-relief-for-employees - LR
@wyattblake5463 5 ай бұрын
Why u so cute
@gosimpletax 2 ай бұрын
I woke up like this 😜 - AG
@Story_Fuel 5 ай бұрын
Thanks How should I keep my records?
@gosimpletax 3 ай бұрын
Apps like www.getcoconut.com are great! - AG
@danielsalisbury5608 6 ай бұрын
It’s important to pay your taxes - there’s no such thing as a free lunch. No point in living in a country full of poor people. If you live in the UK, and love the country, security and our people, pay your taxes.
@camelpipe 6 ай бұрын
Hi i have bought a Lodge on a caravan park and would like to let it out to help with the running costs. Could you please point me in the right direction on how to submit a tax return
@gosimpletax 3 ай бұрын
Hi, this blog may help you - www.gosimpletax.com/blog/completing-your-self-assessment-guide/
@DavidEvans-b5b 6 ай бұрын
Hi Adam help I am just about to do self assent on my renta
@gosimpletax 3 ай бұрын
Hi David, this blog may be able to help you - www.gosimpletax.com/blog/landlords-guide-to-completing-tax-return/
@hughhp1 6 ай бұрын
Thank you. Very clear and very helpful explanation.