dun know myflow
Saru, I'd just go through it and fill it out the best i could n google any part i wasn't sure off.
When u start u just need 2 tell them when you started trading (date) then each year they'll request a tax return from you. With this you declare your recorded profits (all money that has come in) and you expenditure (every thing u spent). Mostly in ur case this will just be i spent x amount on this this and this, then add them up (only stuff you can provide evidence 4)
You only need to worry about percentages when it crosses with your personal life, like i said in my previous post i live and work in my house so the rent is 3 rooms personal use to live (cannot claim for) and 1 room to work, having somewhere to work is a business expence (just like a shop or office) so i divide my rent 25% of which is money i'm spending to have a place to run my business so goes on the claim.
There are sections for things that wont apply eg - a farm owner can claim for the depreciation in value in his equipment as this will be a large expense that after a number of years he will need to replace to continue workin but new stuff will later likely cost more than he paid 10 years ago. Like wise some1 who owns a property, if that property rises in value he has to pay taxes on that rise, think this is Capital gains tax.
any specific point your not sure on, post here n i'm sure some1 will have an idea about it.
