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Tax question...

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By *irtyGirl OP   Woman
over a year ago

Edinburgh

Right... does anyone know if you have to earn a certain amount on a self-employed basis to have to complete a tax return?

I just called their office and "its been evacuated due to an emergency"

Has someone fire bombed the tax office?!

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By *ertnbeckyCouple
over a year ago

oldham

hope they have bombed it

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By (user no longer on site)
over a year ago

as soon as you begin working on a self employed basis, you have to inform the tax office within 3 months of beginning. You then need to complete a tax return each year before the deadline, regardless of how much you made, even if you made a loss, it has to be recorded.

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By *ensualfire88Man
over a year ago

Edinburgh

They will generally send you a form if they want you to fill in a return, i've never had to ask them for one.

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By *ercedes62Woman
over a year ago

Northampton

You also have the option of an online tax return now.

Mercedes x

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By (user no longer on site)
over a year ago

hi - you need to pay national insurance and tax - even if as the earlier post suggests you lose money - best thing to do is register on line as self employed - and complete the online forms

some people do this for you - i have a neighbour who is self employed doing jus this - she charges $99

anyway the dead line is 31st January - good luck

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By *atisfy janeWoman
over a year ago

Torquay

To the OP......when did you start working for yourself?, was it after April 5th 2010?

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By *irtyGirl OP   Woman
over a year ago

Edinburgh

I've already informed the tax office... really wishing I hadn't bothered but I'm too honest for my own good!

I started a part-time job but its on a self-employed basis... mostly to get some experience in the area of work but I've only worked three shifts and I've already paid NI - they sent a bill so I paid it... actually they've done that twice. I've earned peanuts as it's pretty much a minimum wage thing (but I had some fun which is the main thing) but now I apparently have to complete a tax return and for 228 quid... £45 of which has already gone to the NI people it hardly seems worth the bother!

*slaps self round head*

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By *ugby 123Couple
Forum Mod
over a year ago

O o O oo

I think it is up to about £15,000 or over that you need a full tax return form

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By *irtyGirl OP   Woman
over a year ago

Edinburgh


"I think it is up to about £15,000 or over that you need a full tax return form"

I have a full time job too... but obviously they do all the tax malarky on that.

I'll never make businesswoman of the year that's for sure!

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By *ugby 123Couple
Forum Mod
over a year ago

O o O oo

Ah you will probably gover the threashold then.

You could try and phone a different tax office that the staff are not outside freezing

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By *atisfy janeWoman
over a year ago

Torquay

[Removed by poster at 19/01/11 10:26:40]

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By (user no longer on site)
over a year ago

[Removed by poster at 19/01/11 10:26:41]

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By *irtyGirl OP   Woman
over a year ago

Edinburgh

I wish I'd asked you lot before I declared it to the tax office!

I started on 6th June 2010.

My brain is fried now but thanks for all of that. I think.

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By *irtyGirl OP   Woman
over a year ago

Edinburgh

Oi! Don't be taking it back!! My memory is pants and I'll never remember all of the stuff you just said!!

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By *ensualfire88Man
over a year ago

Edinburgh

Best you do remember.

Or the taxman will come after you.

And you'll go to jail.

And be some fat, shaven headed, lesbians bitch.

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By *atisfy janeWoman
over a year ago

Torquay

In which case you will not be required to make a tax return declaring your self employed income until the next tax period.....

So you can breath out now, your tax return is not due.

But remember to start keeping all receipts and record them as you may have expenses that you will be able to claim for in your tax return in the next financial year.

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By *irtyGirl OP   Woman
over a year ago

Edinburgh


"Best you do remember.

Or the taxman will come after you.

And you'll go to jail.

And be some fat, shaven headed, lesbians bitch."

Well at least I'd be getting some!!

Thanks Jane... will be sure to smuggle some shoes through there! I don't really have expenses though.

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By (user no longer on site)
over a year ago

My only advice if you're self employed is hire a good accountant, as you'll be amazed what you can claim for on expenses.... when I was a taxi driver, I could claim for phone calls, clothes and even food.... all means you get a smaller tax bill if any

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By *irtyGirl OP   Woman
over a year ago

Edinburgh

An accountant?! For £228??!

You're not serious right?

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By (user no longer on site)
over a year ago

I've had those dickheads breathing down my neck for a few years now - and I am a PAYE fully employed employee. I tried ringing them to ask why they keep sending me the S/A forms and they simply replied, "you're on our system so you have to return them."

The N.I. office were far more helpful and de-registered my as self employed when I gave them the date I started full time employment.

I have phoned the tax office with the same information five times now but they still send the S/A forms out, so now I just ignore them.

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By *atisfy janeWoman
over a year ago

Torquay


"An accountant?! For £228??!

You're not serious right?"

You will have no need of an accountant on your small self employed income, and trust me there are more things you can't claim for than things you can claim for as a self employed person.

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By (user no longer on site)
over a year ago


"An accountant?! For £228??!

You're not serious right?"

If it can save you £1000, then it's a small price to pay

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By *andsomgeorgeMan
over a year ago

Rugby


"In which case you will not be required to make a tax return declaring your self employed income until the next tax period.....

So you can breath out now, your tax return is not due.

But remember to start keeping all receipts and record them as you may have expenses that you will be able to claim for in your tax return in the next financial year."

DG - you are indeed off the hook (for now). As Jane states - the submission by 31/1/11 is for online filing of personal income earnt between April 09 and 31 March 10.

I would strongly recommend registering for online filing now though. That way you will have until Jan next year if you don't the normal paper submissions for last tax year (ending March 31 11) is August 11 (I believe). By applying for online filing you can buy yourself an extra 5 months in which to complete it.

Given you're in FTE too, your earnings (income after bus. expenses) will be subject to tax I'm sure as single persons tax free allowance is £6,475. It goes up by £1000 next tax year though - yah!

Happy to give you any other advice if you want it - just PM me. I think though the basics are covered in the thread and most importantly - nothing to worry about until August (I think) at earliest.

...And breath

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By *irtyGirl OP   Woman
over a year ago

Edinburgh

HA!

Just spoke to the NI office and they're sending me a form to fill in to claim back the NI I've already paid due to being a small earner!

I've registered already so I have all that but I don't have to do a tax return till next year and they'll send me it in the post!

Crisis averted... no butch lezzer for me!

Thanks for all your help!

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By *harpDressed ManMan
over a year ago

Here occasionally, but mostly somewhere else


"An accountant?! For £228??!

You're not serious right?

If it can save you £1000, then it's a small price to pay "

I'd like to meet that accountant!

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