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#26 23-04-13 06:55:11

kjmcculloch
Member
Registered: 16-04-13
Posts: 14

Re: dont use pink license as a way of making money

Believe it or not HMRC would also want you to value the work you had done usi g such a barter system.  It still counts as income and they want their cut.  Unfortunately their cut needs to be in cold, hard cash.

Kris


I'm an accountancy provider for driving instructors.  Feel free to visit my website dedicated to driving instructors.

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23-04-13 06:55:11

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Re: dont use pink license as a way of making money



#27 23-04-13 10:18:42

kjmcculloch
Member
Registered: 16-04-13
Posts: 14

Re: dont use pink license as a way of making money

Sure, but the value of the lessons need to be entered in your self assessment with your cash income.  If the carpet is for a business you can offset that.  This is something HMRC are very aware happens.

Kris


I'm an accountancy provider for driving instructors.  Feel free to visit my website dedicated to driving instructors.

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