SA103 : Can I add depreciation to the self employed page?
Yes, it is possible to add depreciation to the self employed pages. However, it is important to note that 'depreciation' does not attract any tax relief so will be excluded from the tax calculation.
To obtain tax relief on the purchase of any equipment please choose one of the appropriate system headings, for example:
Office equipment purchase
Fixtures & fittings
Based on the information entered SimpleTax will calculate the capital allowances for you. Further information on capital allowances can be found here.
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SA103s Box 1: How do I add the description of my self employed business?
To add the description of your self employed business on the Self Employed Short pages (turnover less than £85,000), please follow the steps below: If you have not added the Self Employed page already, please click on + NEW PAGE on the left of the ...
SA103 : Self-Employed-Expenses-What-Can-I-Claim
What types of expenses are there? Capital - This is the cost of buying, creating or improving a business asset, used to increase profit. The cost of buying a van for your business would be capital expenditure. Other examples include buying machinery, ...
SA100 : How do I add self employed losses from a previous tax year to my tax return?
1. When on the self employed page please click EDIT 2. In the new popup please scroll down the page until you see 'losses from previous year'. Enter the total losses available to this box and then save. This will add the losses to your tax return and ...
SA103s Box 34: How do I set off the self employed loss against other income for 2024–25?
If you have a Self Employed loss from the current year and want this to be carried back to previous years and set off against income (or capital gains), please follow the steps below: If you have not added the Self Employed page already, please click ...
SA103s Box 33: How do I set off the self employed loss against other income for 2024–25?
If you have a Self Employed loss from the current year and want to set it against this year's other income, please follow the steps below: If you have not added the Self Employed page already, please click on + NEW PAGE on the left of the screen. ...