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Spreadsheets for tax efficiency and also, perhaps, children's activities?


By Lynn News Reporter


You have all heard of the term headless chicken.

Well, if you look around Lynn on any given weekday, this is what I resemble.

A man on the edge, nerves frayed, not knowing which way to turn – this is what after school clubs do to you.

Tuesday is badminton, Wednesday, gymnastics, Thursday is swimming for one son and Friday it’s swimming for the other, with a bit of football training thrown in for good measure.

Saturday is football for my youngest, and if that’s not on it’s the park run. On Sunday it’s the junior park run, which even the dog gets involved with.

By this point I can’t remember where I’m going and who I’m going with, let alone what they are wearing.

I’m surprised we haven’t ended up with a football boot in the swimming pool and goggles on the pitch.

Neil Gayton, of Stephenson Smart (8420655)
Neil Gayton, of Stephenson Smart (8420655)

On Mondays, I get a breather, but I can’t imagine it will be long before they decide they want to play chess while simultaneously lobbing a basketball through a hoop.

The pressure is taken off slightly by my mother and stepfather, who pick the boys up from school one day a week for us.

My stepfather has entered a new chapter in his life, having recently retired to set up his own business.

As part of the shift from being an employee to self-employment I have been advising him on how to manage his pension, registering for all the relevant taxes and preparing him for self-assessment.

The most important things are to create a tax efficient business structure from the outset and to keep good records and spreadsheets to record income, expenditure and mileage, for when tax forms need completing.

Perhaps I should start practising what I preach and get my own spreadsheet to control these clubs that are taking over my life.

One son expressed an interest in learning to play the guitar yesterday.

A lie down in a dark room suddenly seems very appealing.



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