tax return question

sls12345

Hi , I became self employed in Jan 2009 with a view to buy and renovate properties, however due to the financial meltdown/property crash I was unable to purchase any properties and therefore m yet to make any money, my question is do i still need to fill out tax return form, i have been given conflicting information and would like some clarification.

fengirl_2

Have you registered as self employed? If so, you will have received a self assessment in April this year which needs to be competed by 31 Jan 2010. You will show nil income and nil expenditure and enter the fact that this busienss has ceased.
However, if you did not register as self employed, then you need do nothing. You only notify chargeablility if you have tax to pay.