20 Jan 2018

A question about : Tax time fun?

Last year I filled in my tax return for my business and the books balanced with 0 profit - because my business is solely on my head, I had to include it with my wages. I seem to remember getting a piece of paper saying that I didn't need to file again this year unless my circumstances changed...

This year my combined wages and business earnings are well below tax bracket as I took 6 months off and haven't been in the country.

I've only _just_ remembered about all of this and am in the unusual situation (for me) for not having any paperwork because I moved and haven't received a self assesment form from the tax office. My business has been dorment for 12 months - do I still need to fill in a tax form?

Best answers:

  • Are you sure you were told not to file again?
    We never make a profit (make a point of it...) and always have to file returns. Perhaps you're thinking of that letter which tells you you don't need to fill in the long version if your turnover is less than Ј15K?
    I'd definately send one in if I were you - it won't take a minute and might save a Ј100 fine.
    Anyway they'll only ask for the information by letter later in the year...
  • Better option would be to ring up your tax office and ask if you are required to complete one or not, and explain your situation to them.
    HMRC won't know your new address unless you tell them it, and moving is not normally accepted as a valid appeal against any penalties. However, you have until 31 January befor panalties for a late return will be charged.
  • I did change my address to pay NI, but I guess that won't make the blindest bit of difference...
    nevermind...
    Much less than 15K though, about Ј20 in and Ј300 out in allowable expenses. Trouble is my old tax office is in Norwich, mine is now Southend. Shall I just goto southend?
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