As a self-employed student, I don’t have many expenses in my sector, which means higher profits. I can see from my “personal income tax summary” that I will have to pay a few thousand pounds.
What expenses do you still incur at the end of the year? I was thinking, for example, of marketing and social media expenses, as these are 100% deductible.
I'm following! I'm curious to see if there will be any responses :à
I ended up paying my social security contributions via a spontaneous payment. My interim contributions were a bit low... So I took care of that extra cost.
Other than that, I'm going to buy some promotional gifts for the people who work at my customer's office. I can't think of anything else right now =) I don't want to spend too much, because they still have to be paid for.
AO, don't you have any travel expenses? Bicycle, moped, car? Of course it's difficult to give examples when we don't know what you do!
You're right @HZ, thank you!
@JD I keep a logbook for car journeys (petrol expenses), but I need to view this with my accountant.
Other than that, I'm a freelance model/event model.
In the basic accounting course, the teacher said that to reduce your "profit", you can make purchases of group insurance. There were a few extra loopholes here.
Maybe this is a solution.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
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