This is my first post to 'hello' first and foremost. I have been working for just 2 months and am in this for the long haul now.
Secondly, can I get some advice on keeping records for tax purposes?
1) Should I be unlucky enough to get audited, I'm pretty sure the taxman will want to see how my income breaks down but 95% of my clients don't provide their name so what do I do? Make up names - 'Bob? Use descriptions - 'short bald ex-army guy'? Or service provided - 'oral, missionary'?
All I have been doing (for my own records, nothing more) is a combination of all of the above (but mainly using descriptions) on a weekly basis, also logging how much each client paid. Eg:
Week commencing: 4th June
Bob - £120
Smelly guy - £100
Nervous guy - £150
Decorator - £150
BJ in kitchen - £1002) I have no qualms in telling the taxman what I do but for future employment reasons I would prefer to be more vague - business consultant, life coach, therapist. This is because I plan on putting the years of running a profitable Ltd company to good use post-escorting by claiming it's experience in whatever job I'm applying for. (or course it has to be in a field I have experience or know I can do). So how do you advise I log my income/customers, if required for tax records? I'm pretty sure I can't log 'BJ in kitchen' if the taxman thinks I'm a life coach lol.
3) The problem with listing myself as a 'respectable' business, such as management consultant, is that I won't be able to claim for expenses - makeup, lingerie, clothes, toys, beauty treatments etc - so any advice here?
Thanks in advance.