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statement of earnings/invoices

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xxxminty | 16:52 Wed 05th Jul 2006 | Business & Finance
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how often does a self employed person have to produce statements of earnings or invoices to the taxman?
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When invited to do so. It may be never.
If you earn enough to pay tax you have to tell them.
Below a certain turnover you don't have to provide detailed accounts, just 3 figures
income
expenditure
capital allowance claimed.
Obviously you will keep your bills and receipts in case they want to see them later.
If you are employed as well as a buisness you can set buisness losses againt salary

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