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Self-employment: tax form help

 

Business records​

If you have your records in an accounting package you’ll need to enter the figures into the relevant section(s) of the tax return.

Don’t submit separates schedules, records or any receipts with your return. We’ll only need to see these on request.

Business record retention

You’re required by law to keep business records that support your statement for 7 years. These records must be sufficient to:

  • show and explain the transactions of the business during the year of the business
  • give a true and fair view of the business at any time during the year of assessment

Examples of business records include:

  • sale invoices
  • receipts for purchases
  • cash books
  • records of drawings (money you take out of the business for your personal use)

For more information about record keeping search ‘record keeping’ on gov.je.

Filling in the self-employment section

Business details

If you need to tell us about more than one business you’ll need to complete additional self-employment pages.

Download self-employment extra page

Confirm whose income it is by ticking one of the boxes.

Complete the name under which you trade, and a brief description of the nature of your business.

If you trade from a different address to your home address enter the 1st line and postcode of that address.

If your business started during the year of assessment or ceased during the year of assessment enter these date(s).

Enter the date your books or accounts are made up to, for example if your records are for a calendar year you would enter the year end date. It’s usual to make your books up to the same date each year.

Accounts can’t be made up for a period longer than 18 months.

Entering your income

Business income (Box 1)

Put the total amount of income earned by your business before taking off any allowable expenses. Expenses are deducted after this figure.

Include:

  • all payments, however received (cash, card, cheque, internet banking etc.)
  • fees, tips and commissions
  • payments in kind (that’s goods or services received in exchange for work done or goods sold)
  • any other business income

If you have taken any money out of the business for your own personal use (drawings) it must also be added back into your business income.

Expenses

Allowable business expenses

You can claim for business expenses which are incurred wholly and exclusively for the purposes of carrying out your trade. Some expenses may be partly claimed, for example you may claim the business part of using your own car.

Non-allowable expenses

The cost of travel expenses between your home and place of business, depreciation of equipment, your own salary, or drawings can’t be claimed.

Private usage

If you have any expenses which include a private usage element, you need to deduct this from your claim before you enter it on the return.

Example

Joe Smith uses his own car for business during the week and for his family at the weekends. He can claim expenses, but he can’t claim for the non-business part of these expenses. His annual expenses are:  

  1. petrol £2,500
  2. car servicing £600
  3. car insurance £400

From his mileage he has worked out that 20% of his expenses are for non-business purposes. On his tax return he will therefore claim as an allowable deduction:

  1. petrol £2,000 (box 6 fuel)
  2. car servicing £480 (box 7 maintenance)
  3. car insurance: £320 (box 8 vehicle insurance)

Different expenses may have different proportions of business use.

Cost of materials and goods sold (Boxes 2 to 5)

If you’re using materials in your trade enter the details in these boxes.

Enter the value (the amount you paid for it) of any stock from the previous financial period in Box 2. If you don’t have any, leave it blank.

Enter the total amount of any purchases you have made this year in box 3. If you didn’t have any purchases leave it blank.

Enter the value of any stock that wasn’t used by the end of this financial period in box 4. If you have no left over stock leave it blank.

Add any figures in boxes 2 and 3 together, then subtract any figure in box 4 to calculate the cost of goods/materials sold. Enter the result of the calculation in box 5.

Business motor expenses (boxes 6 to 8)

If you use a vehicle for your trade, enter the costs after any private usage element of any vehicles you own or lease. Don’t include the cost of buying vehicles.

Business travel expenses (box 9) 

Enter the total from bus, taxi, air and train fares, hotel room costs and meals for overnight stays which have been incurred wholly for the purposes of your trade. 

Wages, salaries and other staff or subcontractor remuneration (box 10)

Enter the total of gross salaries, bonuses or any other remuneration you have paid to any employees and sub-contractors in this box. Don’t include your own salary or any drawings.

Employees’ social security contributions (box 11)

Enter the total of the employer contributions you have made for your employees. Don’t include your own social security contributions.

Accountancy, legal and other professional fees (box 12)

Enter any fees incurred solely for the purposes of your trade.

Lease payments (box 13)

Enter any leasing payments if they were incurred for the purposes of your trade.

Business bank and other financial charges (box 14)

Enter any bank, overdraft, credit card charges or hire purchase interest incurred by your trade.

Don’t include loan or overdraft repayments.

Telephone, stationery, postage, cleaning and other office costs (box 15)

Enter the costs of your telephone and internet, stationery postage and any other office costs. If you’re using your home as your office and claiming the flat rate, include it here. Don’t include any non-business part of these costs.

Rent, rates, light, heat power and business insurance costs (box 16)

Enter any rent for business premises, business and water rates, light, heat, power, property insurance, security.

Don’t include the costs of buying premises or any non-business expense.

Home businesses

If you run your business from home (it’s your principal place of business and is being used regularly and exclusively for your business), enter the business proportion of the expenses.

Repairs and maintenance of property and equipment (box 17)

Enter the repairs and maintenance of business premises and equipment. Don’t include:

  • repairs to non-business parts of premises or equipment
  • the costs of buying, improving or altering premises
  • the cost of equipment
  • the initial cost of tools

Loan interest for purchase of plant and machinery for use in the business (box 18)

Enter any interest which was payable on a loan incurred to buy machinery or plant for use in the trade.

Other allowable business expenses (box 19)

Enter the total of any trade or professional journals, subscriptions or any other sundry running costs not included elsewhere. Don’t include the non-business part of any expense or the cost of ordinary clothing.

Allowable class 2 self-employed own social security contributions (boxes 20 to 22)

You pay class 2 contributions if you’re self-employed. A proportion of these contributions can be claimed as an expense in your accounts.

Standard earnings limit (box 20)

If you’re paying contributions up to the standard earnings limit you can claim up to 52% of these contributions. 

The standard earnings limit in 2019 was £53,304 so your claim shouldn’t exceed £3,464 if you're completing the 2019 tax return.

  • (12½% of £53,304) × 52% = £3,464

Additional self-employed contributions (box 21)

If you’re paying contributions between the standard earnings limit and the upper earnings limit you can claim these contributions. 

The difference between the upper earnings limit and the standard earnings limit in 2019 was £122,928 so your claim shouldn’t exceed £2,458 if you're completing the 2019 tax return.

  • 2% of 122,928 = £2,458

Total allowable self-employed contributions (box 22)

Add up the figures you have entered into box 19 and box 20 and enter the amount.

Total allowable expenses (box 23)

This is the total of all your expenses you can claim against your total business income. 

Add up all the amounts in the boxes you’ve completed from boxes 5 to 19, then add the amount in box 22.

Enter the result in box 23.

Profits and losses

Net profit or loss (box 24)

This is your profit or loss in the year before it’s been adjusted for goods and services taken out of the business for your own use, capital allowances and any previous year losses.

Take the figure in box 1 and subtract the amount in box 23 and enter the result here. If the amount is negative (you have a loss for the year) include a minus sign in the box provided.

Calculating your taxable profits

Market value of goods and services for your own use (box 25)

If you, or your family or friends, take goods or stock out of the business, you must enter the market value (the normal sale price) here of what was taken out.

Adjusted net profit or loss (box 26)

Increase the amount of your profits or reduce the amount of your loss in box 24 by the amount in box 25.

If you still have a loss after this adjustment you can skip questions 27 to 29 and enter ‘0’ in box 30. Record the loss and any unused capital allowances separately.

Capital allowances claim (box 27)

This is the total available capital allowances for this business you can claim for the year. If you’ve used the capital allowances working sheet it’s the figure from box K. 

The amount you enter here can’t exceed the adjusted net profit amount in box 26.

Capital allowances working sheet

Adjusted profits after capital allowances (box 28)

Reduce the amount of your profits in box 26 by the amount of your capital allowance claim in box 27 and enter the result.

Loss brought forward from earlier years and set off against this year’s profits (box 29)

If you have any losses from earlier years which are available against this year’s profits enter the amount.

The amount you enter here can’t exceed the figure in box 28.

Losses working sheet

Taxable profits (box 30)

Reduce the amount in box 28 by the amount in box 29 and enter the result in box 30.

If you’ve made a loss in the year enter ‘0’ and record the carry forward loss separately or make a claim for loss relief.

More help

More information about subjects relating to self-employment.

Self-employed and traders tax information

Search for Jersey tax accountants and bookkeepers

Printable notes

You can print these notes, including a large print version.

Self-employed section personal tax return notes

Accessible large print notes

Self-employed section large print personal tax return notes


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