Self assenment worries

ceeforcat

Sometimes, even in tax, common sense has to prevail. Common sense has just hinted to me that, in view of the fact that turnover would be only £2500 per annum, entering Nil income and Nil profit on the 2011/12 return might be appropriate in this case without keeping one awake at night.
There are those who would suggest that such an entry is false and worthy of punishment falling just short of summary execution. There are also those who know all the laws of accounting and taxation but who never have to overcome the practical reality of some of these laws.

Jobbydooze

Sorry I forgot about JSA I just included what I got since becoming self employed.

I got a bill for NI and I paid that it was around £63.00.

I did get a letter to file my tax return yes

Sorry for the late reply I'm trying to fill it in

Jobbydooze

So when it says

Did you receive any UK pensions, annuities or state benefits, for example, state pension, occupational pension, retirement annuity, Incapacity Benefit?

Do I put yes as I got JSA?

I also get £40 per week in work credit what do include this under?

Also thanks you have all been very helpful

ceeforcat

Jobbydooze wrote: »

Sorry I forgot about JSA I just included what I got since becoming self employed.

I got a bill for NI and I paid that it was around £63.00.

I did get a letter to file my tax return yes

Sorry for the late reply I'm trying to fill it in

NI - £63? Not John's hint at small earnings exemption. You do not have to pay this but may wish to in order to enhance your stse pension.

If you have anything other than a NIL tax bill, post here before final submission as something would clearly have gone wrong!!

ceeforcat

Jobbydooze wrote: »

So when it says

Did you receive any UK pensions, annuities or state benefits, for example, state pension, occupational pension, retirement annuity, Incapacity Benefit?

Do I put yes as I got JSA?

Also thanks you have all been very helpful

Yes the amount shown on the P45 which presumably shows a date of leaving of 21st March 2012.

Jobbydooze

ceeforcat wrote: »

NI - £63? Not John's hint at small earnings exemption. You do not have to pay this but may wish to in order to enhance your stse pension.

If you have anything other than a NIL tax bill, post here before final submission as something would clearly have gone wrong!!

Yes I paid it and sorry it was £76.40 total

Jobbydooze

ceeforcat wrote: »

Yes the amount shown on the P45 which presumably shows a date of leaving of 21st March 2012.

Yes the form says benefit ceased on 20/03/2012

Jobbydooze

So the In Work Credit of £40 per week would I include that?

If so do I include it under state benefits or any other UK income?

Ahh found the answer

pjclar02

John_Pierpoint wrote: »

[I don't think applying for exemption from class 2 National Insurance is quite appropriate at this age?]

Hello there

I would take a different view to this - as the OP is in receipt of child benefit, this will be sufficient to maintain ongoing entitlement to state pension credits. Therefore, I would be of the opinion that exception from class 2 NICs would be appropriate in this case

Jobbydooze

Thank you all for your help and advice I think able to complete my tax return now