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Introduction
& download
Manual:
Setting up ~~~ Your
writing ~~~ Publishers
& competitions ~~~ Money ~~~ Progress
tracker
Money
 Payments
- Once writing is accepted, you enter
payments for it (see Your writing, above)
- Overdue payments
lets you enter the date paid, or
click
to open the Publisher details to chase them up
- Upcoming payments is
box 2; headings don’t show when there’s
no info
- Payments received:
once the date paid is entered, it’s listed here
and included in your tax calculations
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 Expenses
- Expenses are deducted from your earnings
to calculate your tax
- View expenses by:
- category (advertising,
bills, etc),
- receipt type
(paper, online, direct debit, etc.)
- tax year (eg.
2007)
- or any combination of the above
- Expenses categories
lists tax-deductable expenses
- Add expenses separately
to household bills (see below)
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Add expenses
These expenses do not include household bills,
which are calculated separately. Anything listed here is solely
for your use in writing.
- Item is for your own reference
– eg. “Printing draft of A&M”
- Category is taken from
the list of legitimate expenses below. This information
is from the The Writer’s Handbook 2007, which explicitly
says coffee bills (on your own) are not tax-deducatable.
- Date is when you bought
the item or were invoiced for it
- Amount is what you paid
- Receipt is “paper”,
“online/email”, “direct debit” etc.
– it’s useful to have this list when you’re
collecting your tax records together to show someone
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household bills
- When you work from home, a percentage
of your bills and rent can be deducted.
- Proportion of bills
calculates this percentage by the rooms you use and
the hours you work. Enter this information first.
- Household bills:
enter the full amount of the bill. The Machine adds
the right percentage of that bill to your list of
expenses
- If you change the proportion, future
bills will be affected – not past ones.
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 Tax
The Machine calculates
tax according to the United Kingdom Inland Revenue. If you
pay tax elsewhere, use the amounts for total earnings, expenses,
and profit to caculate according to your country’s system.
For legal reasons, this is a guide only and
does not represent official tax advice – I’m not
an accountant. However, to the best of my knowledge, it’s
accurate.
Info to edit
- Tax bandings and allowances
change yearly. The Machine contains info for 2006 and 2007.
Up-to-date info is online at www.hmrc.gov.uk/rates/it.htm
- Other earnings is any
other job.
- Tax already paid is if
you’ve paid tax on your other earnings under PAYE
(ie. your employer pays it for you)
Tax calculations is automatically
calculated according to that year’s personal allowances
and bandings. If your expenses look wrong, you can view/add
expenses.
Buttons
selects which year’s tax calculations show. Default
is the most recent year. The year refers to when the tax
year starts – eg. “2007” is 2007-08.-
brings up a full tax report for the year displayed, ready
to print. This includes the summary information shown here,
a list of expenses by category, a full list of expenses,
and a full list of payments. This is for reference when
filling in your tax return.
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refreshes the calculations after you’ve changed information
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saves the record
Introduction
& download
Manual:
Setting up ~~~ Your
writing ~~~ Publishers
& competitions ~~~ Money ~~~ Progress
tracker
|
