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As jimnotgym explained, you don't have to 'keep accounts' in any onerous sense. You just need to keep a rough track of the business's income and expenses (which
by foldr 2y ago
As jimnotgym explained, you don't have to 'keep accounts' in any onerous sense. You just need to keep a rough track of the business's income and expenses (which any sensible person would be doing anyway). No-one at HMRC is going through the accounts of very small businesses with a fine tooth comb. You just tell them how much money you made and pay the taxes on it.
- graemep 2y ago> You just need to keep a rough track of the business's income and expenses (which any sensible person would be doing anyway We are not talking about a business here. The whole problem is that these are things that people are doing as essentially voluntary work. What your saying would be true in a different context, but this is not business. I do not know whether you find it hard to grasp that some people will put a lot of effort into something for motives other than profit.
- foldr 2y agoRight, so the 'accounts' are correspondingly simple. Essentially just a list of things the company has purchased.