im registered a a sole trader but havent received any formal letters about this

MONEY_DUDE

im registered a a sole trader but havent received any formal letters about this

i registered last summer - with the hrmc but havent heard anthing

what should i do - is this normal ?

cheers

heretolearn_2

You should have received your UTR number (Unique Tax reference) - give them a call. Other than that you'll only hear from them with an instruction to do your tax return nearer the date.

PlutoinCapricorn

You should have got something by now: I got a welcome pack with a black book, a direct debit form for the NI Class 2 payments and a form for claiming exemption from Class 2 on the grounds of low earnings.

In a separate mailing, I got a letter saying that I would now have to submit a Self Assessment tax return each year.

If you registered in the summer of 2011, your first return will be for 2011/2012, and will be due between April 6th 2012 and Jan 31st 2013.

It is best not to leave it until the last moment, and to register to do it online.

When you registered, what did you give as your trading address?

MONEY_DUDE

PlutoinCapricorn wrote: »

You should have got something by now: I got a welcome pack with a black book, a direct debit form for the NI Class 2 payments and a form for claiming exemption from Class 2 on the grounds of low earnings.

In a separate mailing, I got a letter saying that I would now have to submit a Self Assessment tax return each year.

If you registered in the summer of 2011, your first return will be for 2011/2012, and will be due between April 6th 2012 and Jan 31st 2013.

It is best not to leave it until the last moment, and to register to do it online.

When you registered, what did you give as your trading address?

i gave my home address - i work freelance from there and other places

i think ill call them tmr - cheers

s_b

have you paid any tax yet?
im also fairly certain you should have filed accounts last month
do get in touch soonest because you may well be acruing charges other than the standard £100 fine
how have you been paying your ni too?

Possetjohn

s_b wrote: »

have you paid any tax yet?
im also fairly certain you should have filed accounts last month
do get in touch soonest because you may well be acruing charges other than the standard £100 fine
how have you been paying your ni too?

Hi Money_dude,

As a sole trader I don't think you have to file any accounts! You may however want to use an accountant to help with your accounts and first tax return. Some people do some don't!

If you registered in the summer 2011 then posts #2 & 3 cover what you need to do. You should have probably had a 6 month bill for class 2 Ni by now as well.

Out of interest how did you register? Over the HMRC website or via a form and have you kept any submission receipts/copies?

As said previously I would chase this up asap

Best of luck with the business

MONEY_DUDE

Possetjohn wrote: »

Hi Money_dude,

As a sole trader I don't think you have to file any accounts! You may however want to use an accountant to help with your accounts and first tax return. Some people do some don't!

If you registered in the summer 2011 then posts #2 & 3 cover what you need to do. You should have probably had a 6 month bill for class 2 Ni by now as well.

Out of interest how did you register? Over the HMRC website or via a form and have you kept any submission receipts/copies?

As said previously I would chase this up asap

Best of luck with the business

i didnt keep copies - i sent it by post im 90 % sure -- i resent a web form - 20 mins a go too -
- however - I know for a fact im under the tax threshold for my tax year 2011 - 2012 and that thats only due at the latest jan 2012 - i asked my family accountant --

they also did send me a 6 month nic letter asking me for a contribution - but i filled out an exemption form which was ok with them -

- so using deductive logic they must know that im self employed as they wouldnt have and havent sent me a nice class 2 before

- so they must have missed sending me the self employed welcome pack -- which i think is a fancy way of registering for self assessment - because thats all that really means
- as long as I do that [ self assessment ]and pay any tax in time they should be ok with that .

thanks for the good luck - im a web designer / graphic designer and have so far found it very tough to get clients -
i get a jsa - [since jan ] but see it as a potential help for the economy so dont feel bad -all teh money goes on the business - and i intend to employ people asap

charlie-chan

I haven't received a pack either so I will be ringing tomorrow. Thank you for this thread OP.

PlutoinCapricorn

It is possible that welcome packs as such are no longer sent out - perhaps to save on costs. The black book had some useful information, all of which can be found on HMRC's website and Business Link. It also had pictures of taxi drivers, flowers sellers etc. which were not much use to a consultant such as me!

If you have received a request to pay Class 2 NI, then as you say they must know that you are self employed. There should have been a covering letter, with a reference that is your UTR.

You should get another letter nearer the time when your first tax return is due. The January 31st 2012 deadline is for the April 2010/2011 tax year, and you registered in the summer so this does NOT apply to you.

s_b

You should get another letter nearer the time when your first tax return is due. The January 31st 2012 deadline is for the April 2010/2011 tax year, and you registered in the summer so this does NOT apply to you

yes i made an error in my above post but he should still have made a payment on account before the end of january i believe for tax year 2011 to 2012 even if its an estimate?

PlutoinCapricorn

No, the first payment on account is based on the tax due for the first trading year so HMRC will not ask for it until the first return is submitted.

I never pay POAs myself as I don't earn enough.