Tax Return after ending self employment

VintageBelle

Hello

I ended my business in March 2015 and my self assessment was submitted online by my accountant in January 16.

I've had a letter in the post today saying 'Based on the information we have, the tax year ended 5 April 2016 is the last year you will need to complete a tax return'.

This is the first letter I have received about a tax return for 15/16 tax year. I wasn't aware I needed to complete one.

I'm really worried now that I am going to be fined.

Why do I need to complete one and why was I never informed?

Can anyone help explain as I'll lose sleep over this

hyubh

VintageBelle wrote: »

I ended my business in March 2015 and my self assessment was submitted online by my accountant in January 16.

I've had a letter in the post today saying 'Based on the information we have, the tax year ended 5 April 2016 is the last year you will need to complete a tax return'.

This is the first letter I have received about a tax return for 15/16 tax year. I wasn't aware I needed to complete one.

If by 'January 16' in your first paragraph you meant the 16th January just gone, that was for 2015/16, so the letter is saying thanks, no need to complete one next year.

VintageBelle

It was submitted in January 2016 sorry not January 16th for the 14/15 tax year as I wasn't trading in the 15/16 tax year.