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expenses on 0708 self assessment

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    expenses on 0708 self assessment

    I am just finishing off my SA and there seems to be a difference in how schedule E expenses (paid out of own pocket) are handled from last years SA.
    In this years calc they add these expenses to your total income that is subject to income tax whereas last year it looks like expenses were not included in the income tax calc (ie they were allowable expenses) ?

    My accountant say there should be another field for expenses incurred for which you can claim tax relief, but I can't see it. Anyone done this on their SA?

    #2
    anyone submitted their 0708 self assessment online this year?

    expenses included in imcome tax for you?

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      #3
      My P11D was nil. As my mileage (AMAP) was paid by my ltdco in full there was nothing to claim there. So no expenses on my SA.

      Actually this raises the question whether it's better for the ltdco to pay AMAP and offset it against profit or to declare it on SA and offset against basic pay... depends on level of basic pay I would think.

      QB.

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