Self Assessment UK Tax Return Software for Tradesmen
Let’s face it, there’s nothing less rock and roll than taxes, but even the Beatles had a visit from the taxman. Many self-employed tradesmen aren’t aware they have to file a Self Assessment tax return every year. And with most having multiple sources of income, working out the numbers, offsetting business expenses, and finding deductions can be a tricky task.
Why GoSimpleTax for Tradesmen
For tradespeople, there’s hardly time to file your tax return let alone keep on top of your accounts. As such, it’s not uncommon for sole traders to miss the 31st January deadline or fall foul of HMRC due to errors in their tax return submission. GoSimpleTax helps prevent that by enabling you to input your income and expenditure in real time, and therefore proactively update your tax return .
Our software walks you through the tax year, highlighting your responsibilities as you go.
Take Advantages Of HMRC Allowances
If you complete your return via the the HMRC website, it won’t tell you about the available allowances. Go Simple Tax via a series of questions highlights exactly what allowances you can claim for.
Allowable Expenses for Tradesmen
Business expenses are inevitable when you’re a sole trader. Thankfully, many can be deducted as allowable expenses from your taxable profits to lessen your Income Tax bill.
These could include
- Purchasing and maintaining a musical instrument
- Purchasing sound recording and playing equipment such as microphones and loudspeakers
- Purchase of computer equipment and musical software
- Studio time and other production costs to record and produce music
- Travel costs including both public transportation (bus, trains and planes) and mileage
- Costs of setting up and maintaining a website
- Phone, broadband, stationery and other office costs
- Legal, accounting and other professional fees
- Insurance premiums
Try out Go Simple Tax for yourself in our free trial – no credit cards required
How GoSimpleTax Video Works
Watch our video that explains how GoSimpleTax works