Self assenment worries

jamesd

You're not restricted to only saying what you think you have to say. You can also choose to tell HMRC in accompanying notes about any other benefits that you received but didn't include in the totals. Then HMRC is supposed to check that those were properly not included and tell you if you got something wrong.

John_Pierpoint

When did you receive the instruction to complete a self assessment ?

Most of us who have not got a roundtuit yet are having to fill in the form on-line, which is actually easier than the paper version. You can do some trial and error entries to see what happens before you finally submit the finished version.

As you are in receipt of working tax credits (?) you definitely already have a presence in the tax system.

10 years ago Basildon, the London overspill town for Harlow rejects (joke?) used to have up to a dozen HMRC advisers for someone in your situation, I used to drop off my paper return there.

But not any more!

So here is a new business opportunity for you "Adviser" - once you have mastered what is required by the army of people in your situation.

kendall17

whitewing wrote: »

If investigations sound scary, you can get tax investigation insurance which covers the cost up to a certain value of an accountant. My accountant offers this insurance, but I don't know if you can still get insurance if you don't have an accountant.

We offer it at our firm (accountants) and our over inflated prices are still value for money (Most businesses are £180 = 2 hours of partner's time).

You can get insurance outside of an accountancy practice. Sometimes it is offered through business insurance or i'm sure you can get it online.

We use Tax Wise insurance who don't seem too bad.

Savvy_Sue

John_Pierpoint wrote: »

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

pjclar02 wrote: »

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

and I would agree with pjclar, as long as the OP's profit from self employment is less than c. 6000 and as long as she is in receipt of child benefit, there's no point paying NI.

However, it might be worth trying to build up a little 'emergency NI' pot, especially if she might have more children. Because if you want to claim Maternity Allowance, you can pay the relevant year's NI conts at a later stage in order to do so.