Self Employed Tax Return

matthewfc

Hello all.

I was wondering if someone could help me. I have recently started up on my own as a Sole Trader (start of this current tax year). My question is that I am planning to move home in a year or two. I know that the mortgage company (currently Abbey) will accept the Inland Revenue tax receipt (the one they send you when they agree with your calculations) as proof of earnings but I am not sure when I will get this document through.

Will I get the self assessment forms to complete in April 2010? How long after I submit them will I get the confirmation from the IR?

Hope this all makes sense.

Matt

PlutoinCapricorn

You will receive a self assessment tax return form soon after April 2010: I can't remember exactly when mine came this year, it was not long after April 6th 2009 I think.

You will be able to complete your return online sometime in May 2010: you can register with the 'gateway' in advance at any time so as to be ready, and you can check from time to time see if they are ready to accept your figures yet.

The earlier you complete, the sooner you will receive a statement: it may arrive a few weeks later. Do bear in mind that this is just to provisionally accept the basic figures: HMRC can decide to investigate you at a later date.

suso

The tax calculation will be returned to as soon as the paper return is processed.

To give an idea of the length of time it takes, most of the local offices currently report a SA turnaround of approx 5 weeks

If you do it online, the calculation is worked out there and then and you can print off a copy.