Need some help with my first self assessment

greeble

hey guys, filling in the form now, just a quick question...

I'm not sure what it means exactly by 'Have you made any income tax losses in the year 2010-11?'

The only thing that comes to mind is that I may have been taxed too much for a temporary employment job. is that nothing to do with this question?

Mikeyorks

Nothing to do with it. But don't forget you also have to complete the employment page(s) for that job? Which will bring any overdeduction into credit.

greeble

Hey Mike, thanks for clearing that up

I'm in a dilema now. I think I'm filling out the employment page where its asking me alot of questions based on my p45/p60. I worked for this company as an employe for two weeks where I got tax deducted and my p45 etc, though I also did some freelance work for them shortly after where I was self employed.

on this question 'Pay from ****** LTD - total from your P45 or P60. Enter the amount before tax taken off:' shall I just note down the payment from when I was an employee and ignor the freelance work payment (until I get to the self employed section?)

jennifernil

Yes, keep the employed and self employed amounts separate.

Mikeyorks

greeble wrote: »

on this question 'Pay from ****** LTD - total from your P45 or P60. Enter the amount before tax taken off:' shall I just note down the payment from when I was an employee and ignor the freelance work payment (until I get to the self employed section?)

As the lady says - yes the P45 / P60 data in the employed pages and the freelance work in self employed. Any overpayment (as you mentioned) on the PAYE then becomes a credit against the overall totals.

greeble

Thats great, thank you both. still cracking away and only at 9% :shocked: Feels comforting that people on here are helping out and with such speedy responces, really appreciate it all

I'm really taking my time with answering the questions right and dont want to pester you guys too much

As i'm doing the online form I'm thinking am I supposed to calculate the income tax I owe myself as well as national insurance? I thought I heard that somewhere :S

greeble

oh no I'm filling in a short return and enter 5000 for 'Turnover - takings, fees, sales or money earned by your business:' as thats all I ever earnt in the year now its giving me this error:

The amount entered for 'Turnover - takings, fees, sales or money earned by your business' exceeds the maximum annualised amount allowed for this field. Please amend or complete the full self employment pages instead.

seems fine with anything below 5000. though it says to fill in a full form you need to have earnt over 70,000??!

Do I have to fill out a full assesment? even for my 5000 pounds earnings? :S

Possetjohn

Hi Greeble,

The Turnover amount of £5000 shouldn't be any problem in the short SA pages. I did mine via the short return last November and the figure was higher then £5000 (though not a huge amount higher!!).

My only thought is what dates have you put in as the start and end of your business, or when your books/accounts are made up to. That might have some influence on the annulisation but I not sure how the HMRC software does this!

Others more knowledgeable that me might be able to help. Ideally for you the start date should be the date you commenced and the date your accounts and books are made up to should be the end of the tax year (5/4/2011)

PS have you down loaded the SA210 notes file for the SA short tax return. These can help to explain some things

greeble

ahh thank you John. I did actually put the date to which I recieved the money (5k) as my books made up date as that was the last payment that was made to me, so I will try changing that to the 5th of april and see if that works

greeble

ok got it working now I just changed the date my business ceased to the end of tax year :O