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Level 1

How do I turn off simplified expense accounting?

Hello, I am self-employed and have came across under ‘taxes’ some disallowable expenses that should be under the allowable expenses, in particular car/van expenses which relate to fuel, repairs etc. I don’t use the mileage tracker, and I record everything as actual expenses with receipts. In comparison, HMRC have recommended that I used the ‘actual costs’ in comparison to the ‘simplified expenses’. Also, under the same category ‘taxes’, it says show SA103F boxes. What I need it to show is SA103S boxes please. 

3 REPLIES 3
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QuickBooks Team

How do I turn off simplified expense accounting?

Hello Martinz

 

In the instance where you have been told by HMRC, you can claim for fuel but you are seeing it show in disallowable expenses. It would be a case of selecting travel instead of car van expenses as the category. 

QuickBooks Self Employed tax summary does not have a way for it to show the SA103S boxes 

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Level 1

How do I turn off simplified expense accounting?

Thank you, I’m still pretty new to all of this and hope to develop a better understanding. So what is the SA103F boxes for? And where can I find this on a self-assessment tax return? 
is there a full list of explanations for categories and sub-categories, detailing what comes under allowable and non-allowable expenses? 
Home-office expenses is also another one that seems to be coming up as non-allowable expenses? Why?

Highlighted
QuickBooks Team

How do I turn off simplified expense accounting?

Hello @Martinz,

 

The SA103F is a deduction category you can claim as an allowable expense. It includes the SA103F box numbers, QuickBooks Self-Employed subcategories, and information that you can and can't deduct.

 

Here's an awesome article about SA103F Categories for your guidance.

 

The home-office expense doesn't apply to a private or non-business portion of the expense or cost of buying business premises. You can read the details in the same article above under "Rent, rates, power and insurance costs Box 21".

 

I'm attaching our help page about self assessment and year end taxes for your reference.

 

Should you need help with anything else, please let us know. We're always here for you. Be safe.