Self Employed tax return??

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Can anyone tell me what I should be entering this year I'm very confused. Been self employed since 1/1/2016 so submitted a return to 31/12/16 as this was a year and paid the tax requested. Now it is saying I need to enter 6/4/16 to 5/4/17?? Should I just do Jan 17 to 5/4/17?? Haven't a clue Thanks

BoGoF

This may be better in the Cutting Tax forum - did you complete a 15/16 Tax Return?

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I did yes, but just thought I needed to enter when I had completed a year obviously that's not right. I did put the start and end date as Jan to Dec. Don't know if I now need to do 3 months upto 5/4/17 or to enter the whole year to Dec 17? This leaves no time for payment as it's due 31st January,, I have obviously made a mess of this :eek:

BoGoF

What accounting period did you put for 15/16?

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I put that books were made upto 31/12/16 which obviously isn't right as its to 5/4/16 return so don't know how to correct it now??

This is what I entered

5. If your business started after 5 April 2015, enter the start date DDMMYYYY: 01/01/2016
6. If your business ceased before 6 April 2016, enter the final date of trading: Not Entered
7. Date your books or accounts are made up to: 31/12/2016
8. If you used the cash basis, money actually received and paid out, to calculate your income and expenses put 'X' in the box: X

BoGoF

You were ok to put that accounting period in for 15/16 BUT as you are only due to pay tax on profits arising in 15/16 you should have made an adjustment in your figures to account for this, i.e. only 3 months of your accounting period fell into the 15/16 Tax Year. So if you paid tax for 15/16 on the full 12 months then you have probably overpaid tax for 15/16.

Your self-employed accounts do not have to match the April to April tax year

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Ok Thanks. So what shall I enter for the 16/17 return as I need to enter the figures before the end of January?

BoGoF

You can enter the same 12 months figures you did previously and going forward do your accounts to 31 December each year. You will need to amend your 15/16 return also.

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Thanks I will enter the second year but what am I amending the previous one to?

BoGoF

You leave the accounting period the same but there are boxes to adjust this for various reason (dont have access just now). Basically your 15/16 Tax Return should reflect 3/12ths of your profits.

Alternatively (and this may be easiest for you) you can make your accounting year the same as the Tax Year. This would mean amending 15/16 to cover 1/1/16 to 5/4/16 and then make 16/17 6/4/16 to 5/4/17.

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Ah right I understand :T Thank you for all your help