Ceased Trading And SA Tax

Maddermanblue1

Hi, I hope you could advise me, I've looked on the HMRC website with no clear answer, my question is this;
I ceased trading (Sole Trader) on December 2013. How long must I keep submitting my Self Assessment?

I have notified HMRC I have ceased trading along with my 2012/13 SA along with amount of tax owed and paid it.
I also paid a small amount of tax owed for the SA for 2013/14.
For year 2014/15 if I need to submit a SA to avoid a fine it will amount to zero money earned and zero tax owed.

Kindest regards.

agrinnall

You have to submit a return every year that you're asked for one. If you feel your circumstances no longer warrant a return being completed then you can contact HMRC to make your case for being taken out of SA. They will eventually get round to it themselves if you do nothing - I was told a couple of years ago that I no longer needed to submit.

TheCyclingProgrammer

When I was last self employed around 2005 HMRC never stopped asking for a return.

If you received a notice to file one for 2014-15 you'd be best off submitting it ASAP and then ring HMRC to ask them if they can stop sending you notices.

[Deleted User]

TheCyclingProgrammer wrote: »

When I was last self employed around 2005 HMRC never stopped asking for a return.

If you received a notice to file one for 2014-15 you'd be best off submitting it ASAP and then ring HMRC to ask them if they can stop sending you notices.

I ceased self-employment in 2013/14 - everything I now earn post retirement (:rotfl:) is under PAYE. I submitted my return last week and, within two hours, received a secure message to advise that I no longer had to submit returns.

There seems to be no set rule. However, I would advise logging into the self-assessment portal. On the first page it states whether one is required to file.