Tax return help

[shadewakka]

i all,
registered as self employed 21/02/2012, i have recieved a letter telling me about tax returns and i have activated the service online, yet i have not recieved a notice telling to i need to complete which the letter said i will when i need to, yet i dont want to fall foul of the HMRC and get a penalty.

i attempted to fill in a tax return yet the tax yr is 10/11 and this cannot be changed to 11/12 my question is, do i need to fill in a tax return for this period event thought i was not self-employed or do i wait till next year to fill it in??

Before anyone says it would be best to ask the HMRC, i have alreadys spoken to them today and was told that they didnt know!

Thanks in advanced for any help

 

[Top Cat]

Go and see an accountant, at the moment it will not cost you much and even later they are worth there weight in gold.

A few years ago i got a computer package that said with this i would not need an accountant.

For the first year i ran it along with having an accountant.

The computer package told me i owed £5000 tax.

The accountant told me i owed £950.

The package went in the bin!

Over the years you will get letters from the tax man that worry you sh**les, you phone the accountant and they say oh don't worry about that you can throw that in the bin!

It is better to spend a few quid and sleep at night.

 

[HandySparks]

The 2011-12 tax year ends on 5 April 2012, so you can't fill in a return for the current year until after then. You've then got several months in which to complete it; look up the exact dates on the HMRC website. If you're claiming tax credits, you'll have to have done your tax return sooner as you'll need the final figures for that (end of June?/July?).

 

[Deleted member 26818]

You won't be able to submit a return for 11/12, untill sometime after the end of the tax year, sometime after the 5th of April.
In previous years, I have been unable to fill out and submit the return untill about the 12th.
As you registered as self employed in February, you will need to submit a return for this tax year (11/12).
You will need the details from your P45 for your PAYE earnings, Tax and perhaps NI.
If you had any expenses relating to going self employed whilst you were employed, then you should include them in with your self employed expenses.
I claim for my mobile phone, tools, courses, registration fees, traveling, laundry, anything to do with my computer and internet access, premises (including electricity and gas), stationary and some clothes.
I claim subsitance if I work nights, or work away from home.
I claim a milage allowance if I use my vehicle, this tax year (11/12) it's 45p a mile for cars/vans for the first 10,000 miles, then 25p per mile. 24p per mile for Motorcycles.
This covers fuel, tax, insurance, maintenance and general wear and tear. Generally works out more than just claiming for the petrol.