When do I send tax return? Help!

Monostich

I'm a complete n00b when it comes to being self employed. I started work last July 2011 - do I need to fill out tax return now?

Or does it run from April 2011 to April 2012 meaning I fill in return later this year?

Mikeyorks

First Return will be due by 31st Jan 2013.

Get registered for SA online now - and avoid the blind panic some others are undergoing with only 5 days to go!

Monostich

Phew thank you Mikeyorks

Will I receive a notice in the post first telling me what to do/when to do it? I've only got one letter from HMRC but had nothing since.

tyllwyd

Remember that when you do your tax return next year (31 Jan 2013) it will be a bumper one, because you will be asked for all your tax and NI due for this year (2011-12) and (assuming the tax bill is more than £1000), you will also have to pay half as much again as a payment on account for 2012-13.

You should hear from HMRC in April or May.

Monostich

I thought that the tax bill would only be for April 2011 to April 2012?

God this self employed business is confusing

xylophone

http://www.hmrc.gov.uk/selfemployed/

Mikeyorks

Monostich wrote: »

Will I receive a notice in the post first telling me what to do/when to do it? I've only got one letter from HMRC but had nothing since.

I assume you've registered as self employed? In which case you'll get a Notice to File / or paper Return sometime very early in April.

Get registered for SA online as soon as that happens - don't leave it. And bear in mind the first Return you will also need to fill in the employed pages for the period Apr - July 2011? So make sure you keep P45 etc figures.

Johnhowell

Can I suggest, you do not leave the return until January 2013! I got two letters last week from HMRC to file a return - but contradicted themselves over time allowed! Luckily, my sister is a tax accountant and zapped it through her access with my UTR. Phew ;-)

Surely it could be returned any time after 5 April 2012, as soon as you have all the relevant information for 2011-2012?

Good luck,
John