Phil Cook

Hi There, Thanks for answering part of my query, with regards to the fact it was bought 10 years ago, does that matter? So lets say in 6 months I've sold £3,000 worth, minus shipping and packing costs thats £2,000 Profit. That still isnt profit because I paid £3,000 for it 10 years ago. So how does that work? is there still tax to pay? when setting up as a sole trader and doing my self assessment do I say at that point about the costs 10 years ago? I'm really unclear on how to tackle it. Also, I do a self assessment anyway for a rental property, is that completely sperately to this? Thank you

Hi There, 10 years ago I had an idea to have a product made in china and shipped to the UK with the intention of selling online, I did this and received the items, it was putely a one off venture. Howeve, lots of things changed at that point with a child on the way and moving house, a new job and these just got put in the garage and completely left. I now want to try to sell them online, I presume if I sell them and it totals over £1000 in sales then I need to fill in a self assessment which is fine, but by questions are, is what I said above all ok to do? and secondly, lets say I do sell £3,000 worth of them online, they actually cost me 3,000 to have made and shipped, so I havent made any profit but as the purcahse was 10 years ago, how does that work? I do still have receipts and emails showing everything including the costs. Any advice welcome. Thank you

Hi There, Please could you advise if I need to enter my mortgage payments onto my self assessment for my rental property or are they completely irrelvant? I seem to be seeing contradictory advice when I search for it. Please could you advise? I know its not an expense anymore but can I claim anything and do I need to enter anything on my assessment for it? Thank you

Hi There, I'm renting out my house, its all a bit new to me, I rent it with Broadband and I personally pay this each month, is that an expense that I am allowed to claim for ? Under services maybe? Thank you.

Good Afternoon, This year I will be needing to log a Self assessment for the first time for a rental property, I understand there is a £1,000 threshhold before Tax is paid, that all makes sense. I have also sold a few bits online on ebay that toals about £200 so far... would that £200 need to be delcared on the self assessment also or is it only if sales are over £1000 that I would need to do this? I hope that makes sense. Thank you.

Hi There, Please could anyone help, I am renting out my house, I have a tenant in and paying rent, everything is good. I have promised to maintain the garden because it can get out of hand quickly, I want to pay my mum who used to be gardener £100 every 3 months to go and maintain this. My issue is, how can I put that through as an expense correctly? She isnt a business and is just doing it for pocket money, I will be paying her but there will be no receipt as such. She doesnt work and is retired so she wont need to declare £400 over the year as that is all she is earning so is under the £1000 she can earn. Is this acceptable and how can I prove I've paid her so I can put it down as an expense correctly? Thank you