Hi all, I've just registered as a sole trader in the UK and went to the info session they have. It cleared up a few things but mostly confused me more. I understand how to file taxes and NI and grasp the overall concept. My problem is what sorts of things will qualify as expenses. All of my websites are travel related and any sites I build will be as well. I am leaving the UK in January to go travelling for a year or two and it's very likely that I'll be writing about everything I do for one site or another. Does anyone know what sorts of things I can claim as expenses since I will be using my travels to build my business? I'm thinking that my situation might be similar to that of a freelance travel writer... does anyone know of accountants based in London that would deal with this profession? Or better still, one that might deal with web developers? I'm not sure I'm brave enough to tackle taxes myself but if I do I'm wondering how to deal with payments in several currencies... what exchange rate do I use to convert them to the UK pound? Thanks for any help! Kirsty
Hey Kirsty, Best to chat to a small business accountant about this one, they dont need to necessarily be a freelance related accountant. I am sure they can help you out on the expenses side of things. In regards to accepting payments, have you used PayPal at all? That is the best place to manage multiple currencies, and can tie straight back into your UK bank account so it all effectively can be managed in the UK even though you are travelling. Good luck!
Thanks exstatic. I use Paypal but I don't cash the US dollars straight to my UK bank account because I'm waiting for a better exchange and I also need money in there to buy things like domains etc. Anyone else have any advice to give me? Cheers, Kirsty