Self Employed Tax Returns

[expensivegarms]

Hi chaps,

Having only been in self-employment since April of this year, I'm now confused as to when I need to complete and return my tax forms. I keep hearing 31st of January to return them, but I also hear that the 7th April is when they need to be returned by as well! Does anyone know when they need to be returned by?

[davepoth]

expensivegarms said:

Hi chaps,

Having only been in self-employment since April of this year, I'm now confused as to when I need to complete and return my tax forms. I keep hearing 31st of January to return them, but I also hear that the 7th April is when they need to be returned by as well! Does anyone know when they need to be returned by?

Ring the HMRC and ask them to be certain, but if you did no self employed work in 2011/2012 tax year, you don't need to do one, certain things excluded.

[JBM78]

Assuming that you've registered as self employed with HMRC, you'll need to complete a tax return for the year ended 5 April 2013, which must be submitted by 31 January 2014.

[expensivegarms]

Brilliant, thanks very much! Hope they're not too hard to fill out.

[Countdown]

What date did you start your self employment?

If between 1st April and 5th April then you WILL have been self employed during 2011/12 (tax year ended on 5th April IIRC) and you will need to do your 2011/12 return online before 31st January2013.

[expensivegarms]

Countdown said:

What date did you start your self employment?

If between 1st April and 5th April then you WILL have been self employed during 2011/12 (tax year ended on 5th April IIRC) and you will need to do your 2011/12 return online before 31st January2013.

I think I started self employment on the 3rd April, I'll have to look at my records later on. I wouldn't have thought there'd be much tax to pay on a couple of days worth of work, if any!

[BE57 TOY]

If your self employment started after 5 April 2012 then your first return will be due for the period 6 April 12 to 5 April 2013 and will need to be submitted online by 31 January 2014.

Best to notify hmrc you're self employed ASAP too.

[Countdown]

expensivegarms said:

I think I started self employment on the 3rd April, I'll have to look at my records later on. I wouldn't have thought there'd be much tax to pay on a couple of days worth of work, if any!

I understand but the gits at HMRC still expect you to submit a return

[Eric Mc]

It would be a bit harsh of HMRC to expect the OP to submit a tax return for 2011/12 just to cover two days trading.

A sole trader is supposed to notify HMRC that he has started trading within three months of the commencement of the start ogf the trading activity. If the OP started back in April 2012 and has yet to notify HMRC that he has started trading, he is already in breach of teh three month rule and could be fined.

However, if he hasn't notified them yet, the best course of action is to notify them immediatelty, but give the commencement date as being 6 April 2012 or later - which will ensure that the first tax return required will be for 2012/13, not 2011/12.