Self employed 'de-registering' and unemployed.

[wood1e2]

hi

I have a client who is becoming 'un-employed' the job they had is ceasing, but half way through the tax year. I said don't de-register as we need to complete a tax return next year, but they have been informed by Child Benefit agency that they need to otherwise they may loose out on un-employment benefit.

If they do de-register will immediately stop the self assessment for 2024-25, or can that still be completed after April 5th 2025

 

[Ziggy2024]

hi

I have a client who is becoming 'un-employed' the job they had is ceasing, but half way through the tax year. I said don't de-register as we need to complete a tax return next year, but they have been informed by Child Benefit agency that they need to otherwise they may loose out on un-employment benefit.

If they do de-register will immediately stop the self assessment for 2024-25, or can that still be completed after April 5th 2025

You can tell HMRC that you've ceased trading. This won't stop the requirement to file the return (which you can only do after 5 April)

www.gov.uk /stop-being-self-employed

 

[Newchodge]

hi

I have a client who is becoming 'un-employed' the job they had is ceasing, but half way through the tax year. I said don't de-register as we need to complete a tax return next year, but they have been informed by Child Benefit agency that they need to otherwise they may loose out on un-employment benefit.

If they do de-register will immediately stop the self assessment for 2024-25, or can that still be completed after April 5th 2025

What sort of client, as in what service do you provide?

 

[MyAccountantOnline]

hi

I have a client who is becoming 'un-employed' the job they had is ceasing, but half way through the tax year. I said don't de-register as we need to complete a tax return next year, but they have been informed by Child Benefit agency that they need to otherwise they may loose out on un-employment benefit.

If they do de-register will immediately stop the self assessment for 2024-25, or can that still be completed after April 5th 2025

You dont/cant 'de-register'.

Your client can inform HMRC he's ceased self employment (although it's generally done by noting the date on the next tax return) but HMRC will still need a tax return for the year in which your client had self employed income.

 

[wood1e2]

Many thanks for the information, i'll get them to phone HMRC and let them know they have ceased trading, and then complete the tax return next year.