Hi fellow sellers,
I will need to use a software for the tax year 25/26 as will be over the treshold.
I have a quite simple tax return NO VAT which works like this
Ebay monthly turnover minus ebay fees = Payout
From Payout I deduct stock purchase, postage labels and packaging material = Profit
From the profit I deduct my tax allowances of mileage allowance and office expenses/work from home
After that my personal allowance of 12570 and Voila thats my taxable income.
I do accounting on a monthly basis in a simple table and keep all receipts. At the beginning of April I add all 12 month up, check all numbers again and have my yearly tax return.
Can somebody recommend me which software would be best for such simple needs where I fill in manually by month. I understand it needs to be compatible for upload on the govermental side.
Thanks
