Please help - tax return

lucy_lou_2

Hi, I have been on here before and asked a question and recieved alot of helpful feedback
was just wishing for someone to help me with another question; I worked for ann summers party plan as self employed from sept 2007 - officially oct 2008 (however stopped doing parties at may 2008 - althought i did not leave there book til oct 2008 - i was not earning any money)
well my question is when i do my return, am I just doing it for the tax year april 2007- april 2008, and then doing the rest of the time that i was on there books - april 2008 - oct 2008 next year when they will then be asking for tax year 2008-2009?
Many thanks and sorry for the confusion

fengirl_2

It would be easiest if you made up a profit and loss account for the whole period you were trading - from Sept 07 to May 08 and then allocated the profit between the tax years 07-08 and 08-09. (The fact that you were registered with AS for longer is irrelvent, its the period you traded which should be shown.)
You were trading for 9 months, 7 of which fall into the 07-08 year. So, if, for example your profit for the 9mths was £9000, you would declare £7000 in 07-08 and £2000 in 08-09, which would be included on your 08-09 self assessment which is due by 31/1/10.