Tax return advise

[glennbtn]

Hi all

After my last complete financial year I sacked my accountant through poor service and knowing I would not be running the business for a year as I worked full time to build up some cash. (Sole trader)

I am now due to do my tax return having only worked for an employer for a year. (April to April) What's the best way to do this. Can I just input my p60 details and leave off the company or do I also need to fill these in with 0 values.

I am not claiming anything against the company and have done no invoice or taken any monies. I will be getting a new accountant shortly but any advise to get this sorted would be great.

Thanks

Glenn

 

[StevensOnln1]

Did you enter a date when you ceased trading on the previous years tax return? If not, HMRC will expect a set of self employment pages. Did you have any business expenses? Don't forget you should still be able claim expenses and carry forward the loss that will be created if you intend to resume trading in future.

 

[glennbtn]

Thanks for your reply.

I did not enter a cease date as intend to start doing some business part time starting in a few weeks. I used to work from home so the expenses would have been shared along with the car. Being I have not worked I guess I can't claim anything anyway and happy not to if it makes the tax return easier.

Thanks

Glenn

 

[glennbtn]

Can no one advise here?

 

[Bob]

Have you continued paying class 2 NI?

 

[faradaykeynes]

You SA return will have employment section (gross salary and tax deducted from p60) and Self employment (business) section with zero income and expenses as you intend to continue Self emplyed

 

[glennbtn]

Yes I have continue to pay NI for the fact I wanted to do some work in the future before may be doing it full time again.

 

[Bob]

Yes I have continue to pay NI for the fact I wanted to do some work in the future before may be doing it full time again.

In that case follow @faradaykeynes advice and just enter zeros. Don't forget you can get exception from payment of class 2 NI if you have small earnings from self employment. Form here

 

[glennbtn]

Great. Thanks for advise all

 

[petitionserver]

You must complete SELF EMPLOYED section as well