Terminating Self-Employment

[traxor]

Hello,

I've taken a job at a digital agency (you can read about that here) and as a result I need to terminate my self-employment.

What process do I need to take? I've tried to call the local Self-Employment office and it just keeps ringing through, not dissimilar to last years problems where they ignored 2 million phone calls.

To be honest, there's no real rush as long as I terminate the employment soon, as I will be closing down my business bank account etc.

Thanks in advance for any help given.

PS. The link isn't spam, just thought it's a nice little story.

 

[Ashley_Price]

Speak to your accountant, s/he should be able to help with finishing self employment. I would assume you write to the HMRC and explain to them, giving the details of your new employer.

 

[traxor]

Hi Ashley, I do my own accounting so that's a no-no in that area...

 

[Ashley_Price]

Well, I guess you write to your Tax Office, explain the situation, give the address details of your new employer.

You will of course have to do a tax return for this year (and maybe even for 2010/2011).

 

[traxor]

That's great, thanks for you help. Any further advice would be cool.

 

[Christiane]

I also think writing to them is probably best.

Someone I know told them 3 years ago that she stopped being self employed but she's still being asked to fill in a tax return

 

[Williams lester]

That's great, thanks for you help. Any further advice would be cool.

Have a read of the advice here http://www.hmrc.gov.uk/dealingwith/changes/close-sell-business.htm

 

[GBTradesmen]

I was told that you need to keep submitting tax returns for 5 years, I don't know how true it is though.

 

[Williams lester]

I was told that you need to keep submitting tax returns for 5 years, I don't know how true it is though.

You must continue completing tax returns for as long as HMRC send them to you. They have the right to send them to any UK taxpayer at any time.

 

[traxor]

You must continue completing tax returns for as long as HMRC send them to you. They have the right to send them to any UK taxpayer at any time.

Yeah.

It makes me want to pretend to disappear in some sort of kayaking/canoeing accident...

 

[Williams lester]

Yeah.

It makes me want to pretend to disappear in some sort of kayaking/canoeing accident...

Sounds an excellent idea....I must recommend it to some of my clients!

 

[thebigIAM]

What happens if you emigrate?

 

[magzta]

Hello all!

I have a question about terminating self employment and I really hope someone will be able to give me the answer as getting through the HM Revenue's helpline is just impossible.
My main question is: what's the maximum date back that I can give HM Revenue as the date of terminating my self employment?
Recently I started doing some work for a company as a freelancer and as they told me, I had to register as self employed in order to work for them, which I did. However, after a few weeks now it turned out that they actually put me on their payroll and they are paying my taxes, so there's no need for me to be self employed. So now I'm trying to inform HM Revenue that I'm not self employed anymore, however if they ask me about the date when it finished, I'm not sure what to tell them... If I tell them that it finished 'yesterday', I will have to pay the NI contributions for that period... But if I tell them it was three months ago maybe that will be too much?? This brings me back to my question: does anyone know what is the maximum date back that I can give them?

Thanks a lot for any help!

 

[Ashley_Price]

This is quite an old thread, so you may have been better starting a new one...

However, to answer your question, I would find out what date the company put you on their payroll and then inform HMRC what happened.

If my memory serves me correctly, the company were wrong to tell you you had to register as self employed. This is just to save them the problems of paying tax, etc., but my accountant has advised that if a company is telling you when they want you to work, they set the hours, and it's your main job then you are employed.