Self-assessment Short Form

Laurasofia

I started a business on 12/07/13 and closed it on 16/07/13. I only earned £60.00. Now I have been asked to fill in a Self-assessment form. Should I fill in the Self-employment short one? I find the notes that accompany this form extremely difficult to understand.


I am spending hours trying to understand this papers and any help is much appreciated. Laura

Savvy_Sue

What are the questions and what do you not understand?

Laurasofia

Hi, thank you very much for replying.


My first question is:


Is the date the business closes the date the accounting date ends?


I understand that my basis period is from 12/7/13 to 16/7/13 and that the accounting period is the same. Is this correct?


I have been trying to fill in the form online and it does not explain what the accounting date is.


Laura

Savvy_Sue

I'll send a pm to Fran and jobbingmusician (the board guides for this board) and ask one of them to move it to Cutting Tax,where they'll sort you out very rapidly, I should think!

jobbingmusician

Done (or it will be in a minute)

Laurasofia

Thank you for your help. Laura

purdyoaten

Laurasofia wrote: »

Hi, thank you very much for replying.


My first question is:


Is the date the business closes the date the accounting date ends?


I understand that my basis period is from 12/7/13 to 16/7/13 and that the accounting period is the same. Is this correct?


I have been trying to fill in the form online and it does not explain what the accounting date is.


Laura

The entries, albeit in a roundabout way, are as you state.

The date the business closes is the date the business, errrr, closed. The basis period is the period that you traded as it was all within the same tax year.

Laurasofia

Thank you for your reply, which is very useful. I'll write to HMRC to see if they can cancel this assessment form. If they cannot, I'll have to post here my second question. Thanks for the time being, Laura

purdyoaten

Laurasofia wrote: »

Thank you for your reply, which is very useful. I'll write to HMRC to see if they can cancel this assessment form. If they cannot, I'll have to post here my second question. Thanks for the time being, Laura

Cancel?????? Why?

zygurat789

Laurasofia wrote: »

Thank you for your reply, which is very useful. I'll write to HMRC to see if they can cancel this assessment form. If they cannot, I'll have to post here my second question. Thanks for the time being, Laura

If HMRC would cancel tax returns because they are asked we would all be doing it.

Is the date the business closes the date the accounting date ends?

That's the definition

I understand that my basis period is from 12/7/13 to 16/7/13 and that the accounting period is the same. Is this correct?

There is nothing else it could be

I have been trying to fill in the form online and it does not explain what the accounting date is

But you already know the answer to this

Savvy_Sue

Generally, if HMRC as you to complete a self-assessment form, you need to do so. Whatever you do, submit it by the required date.

If it's clear no tax is due, and you're not in receipt of taxable income other than through PAYE, you can ask them to withdraw you from self-assessment, but as long as they ask you to do one, the only thing to do is submit it.