Tax Returns, Headaches And Losses

Apologies for not being quite so active on the blog as normal over the past couple of days. I have desperately been trying to finalise my accounts and get my tax return out of the way. All this while fighting a headache and trying to squeeze in some trading as well. I guess it was inevitable that I'd incur a loss yesterday.

Doing my accounts is something I utterly detest - yet I am my own worst enemy. When I set up in business in 1993, I religiously did my accounts when ever there was an expense or sale - on the day, everyday.

Over time, this then became every week, then every month, and finally every 3rd month when my VAT return was due. A few years ago when my business changed for personal reasons, I didn't have the same level of income, so I deregistered for VAT - I objected to spending the same amount of time as before employed as an unpaid tax collector. As a result, my accounts only got done every year and I'd spend an inordinate amount of time making sure all my paperwork was in order because I hadn't filed it properly as I got it.

To compound matters, last year I took the decision to go down the Linux route, which meant the accounting software I used was redundant (it was overkill for my accounts anyway). So for this years accounts, I've had to bring it all back into spreadsheet form. Oh what fun!

Anyway, the tax return is complete, filled in and ready to be posted. I just need to get stuck into the accounts for this year now before I find myself in the same position next September.

One might think that all this would induce any headache, but I'm afraid I've been suffering from almost constant headaches since May. Yesterday was particularly bad and I should never have tried trading. To be honest I didn't do much as I felt the headache coming on and I really wasn't in the mood. I tried the first 90 mins of the greyhounds and didn't get anywhere so quit.

Later on in the afternoon I tried a couple of horse races only to lose them. The worst was to come later in the evening. Again, I still wasn't really in the mood and should never have tried trading the dogs. I wasn't thinking straight or paying attention - just going through the motions. As a result, I tried to force a trade which, not surprisingly, bit me on the backside. A £35 stake and I got out for a loss of nearly £15. Ouch! No more than I deserved really.

So I lost just over £16 yesterday, which nearly wiped out my gains of £20 from the day before.

Now that I've got my accounts out of the way I'll hopefully be able to focus a bit better today. I'll need to dose myself up with paracetamol first though.

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