Sole trader tax information

Jenny says:
5 April 2016 at 19:47

How do I find out what receipts I should keep now that I want to operate as a sole trader and what should be declared as is tax deductible?

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TaxTim TaxTim says:
6 April 2016 at 10:12

What business do you do and where do you work from?

Jenny says:
6 April 2016 at 11:00

I am going to be importing baby products to sell. I will be working from home.

TaxTim TaxTim says:
6 April 2016 at 13:39

You would be able to deduct any business expenses incurred in generating your income eg. telephone, postage, internet, advertising, etc Be sure to apportion for business and personal use and claim only the business portion.

Work through the link Can I deduct home office expenses? to see how to deduct home office expenses too.

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