Tax return time!

[katykicker]

[member=2431]Uhhhhh[/member]

Seems like a sole trader to me, that's what I am.

I would suggest just registering now, as it really isn't difficult to do I'm not sure if that would allow him to complete a return before the deadline though, or how that works?

It does say online the date that you've said though so I shouldn't imagine there is a problem, just seems odd that allow that and yet fine people who are late filing?

My advice - register and file asap... Especially if he hasn't earned enough to pay tax - it won't be hard at all! Obviously the sooner the better with the tax return as the tax/NI will be building up otherwise.

 

[Jon]

He should have registered within 3 months of starting self employed work

I imagine he knows that though really as even the smallest amount of research online would have shown that information

 

[Jon]

Well scrap what I said

Just checked out that link and it does indeed seem like you register before October

I stand corrected lol

 

[Uhhhhh]

He should have registered within 3 months of starting self employed work

I imagine he knows that though really as even the smallest amount of research online would have shown that information

He read this on the Government website: Register as soon as you can after starting your business. At the latest, you should register by 5 October in your business’s second tax year.

Example

If you start working as a sole trader between April 2014 to March 2015, you should register before 5 October 2015.

Perhaps he interpreted it incorrectly, but he just presumed (wrongly, I take it) that he had until October 2016 and pushed it to the back of his mind. He's going to call them in the morning to sort it out.

 

[Uhhhhh]

Thanks [member=920]katykicker[/member]

 

[Falanouc]

It probably wouldn't be possible to submit a return now as you need to register for a business gateway account which they send you the login details for in the post.

At least I think that's still how it works. Years since I registered.

 

[Uhhhhh]

Well he just called their number for advice and the guy told him he was fine to register today because he's within the deadline, and to file an assessment in April and they'd contact him with any other information that would be necessary.

 

[Jon]

Woohoo sorted!!!

 

[Uhhhhh]

Yeah he's pretty relaxed about it now. Registered and back on to the Pro-Evolution whilst I sit here adding up numbers for my tax return

 

[katykicker]

Well he just called their number for advice and the guy told him he was fine to register today because he's within the deadline, and to file an assessment in April and they'd contact him with any other information that would be necessary.

How can you file in April though? For 2014/5? As well as 2015/6?

 

[Uhhhhh]

[member=920]katykicker[/member] he only started in April/May 2015 so he doesn't have any self-employed income to be assessed for the tax year 14/15, so it'll just be for 15/16.

 

[katykicker]

[member=920]katykicker[/member] he only started in April/May 2015 so he doesn't have any self-employed income to be assessed for the tax year 14/15, so it'll just be for 15/16.

Ahh ok, sorry that is obvious now from what you said ;D

 

[aless02]

does anyone bother calculating their household expenses manually? The set figures seem rather low, so it'd be awesome to get a bit more cash.

 

[katykicker]

does anyone bother calculating their household expenses manually? The set figures seem rather low, so it'd be awesome to get a bit more cash.

I claimed the simplified £301 or whatever I could claim last time. I think this time, if I have a moment before the baby comes, I'll have a look and see how much it works out.

 

[jellyfox]

Hoping to get my tax return in quite early this time! I have a question though regarding Red Wig Wam earnings.

Where they send you a pay slip and it is already taxed, do you still include the money earned with them on the return?

 

[Jon]

no

 

[Jon]

Can't believe it's tax return time for EVERYONE WHO IS EARNING MONEY FROM HOME ON THE MONEY SHED!!!

[member=920]katykicker[/member] will be the first to get it in again I bet!

 

[Queen]

I am all confused this year. I blame this site. I normally wait until the 31st Jan to submit a return. This year (well last), I did it pretty early. So now I am thinking I should be doing last years cos it's only a couple of months from when it was due. I think. Ahhhh man. I have no idea what I am doing.

 

[Jon]

You need to be submitting your 2015-2016 earnings online anytime between now and 31st Jan 2017

 

[Cantablanc]

Hoping to get my tax return in quite early this time! I have a question though regarding Red Wig Wam earnings.

Where they send you a pay slip and it is already taxed, do you still include the money earned with them on the return?

Sorry to contradict but I think you do need to include both, but on separate parts of the return. I thought you'd need to complete a self-employed portion of the return and an employed. On the employed section you would enter details of both the earnings and any tax deducted by Red Wigwam.

Otherwise you could end up under-paying tax. Let's say your earnings with RWW were £500 for the year and self-employed earnings were £10,200. RWW wouldn't deduct any tax as it is clearly below the £10,600 personal allowance for the current year. If you just completed the self-employed portion that would also show as below the allowance. However, added together the two make £10,700 which would be £100 above the threshold and so tax would be due on the £100.