Tax return advice needed regarding 2017/2018

Kristykake2000

Hi,

I am completely new to this and do not know where to start.

In 2017/2018 I worked April - September as PAYE, September - November as self employed, then November to April as PAYE.

I have a UTR.

I have my receipts and invoices. Also my p60 and p45.

My questions are:

* Will the online tax form have an area for me to enter the dates of PAYE / self employment?

* How do I figure out how much tax I will owe because when I was PAYE it was automatically deducted?

* Are there any deadlines for registering and filing this?

I would really appreciate some advice and simple steps to sort this out as I am so confused by it all.

Thank you in advance.

Dazed_and_confused

You will need to complete two "employment" sections and one "self-employment".

You should be able to show the dates your business operated from and ended (it isn't clear if it has ended but I think this is what you mean happened?)

Don't know about employment but there may be an option to show when these jobs starterd and finished (the first one).

Once you have completed your return you can looks at the calculation which shows how much tax you owe (or are owed back from HMRC). You can check this before submitting the return and check if it looks in line with your expectations.

If you haven't registered how did you get the UTR?

HMRC will send you a return or notice to say you must file a return. You will have a minimum of 3 months to file the return and any tax you have to pay must be paid by 31 January 2019 to avoid any late payment interest or penalty.

If you file by 30 December you have the option of paying any tax owed back through an adjustment to next year's tax code (assuming you are earning enough for this to happen and don't owe more than £3,000).

SeniorSam

You could telephone them. They are very helpful these days and can quickly explain what is needed.

Pennywise

Kristykake2000 wrote: »

My questions are:

* Will the online tax form have an area for me to enter the dates of PAYE / self employment? Yes, you add a new supplementary section for each employment and self employment, and in each section enter the number for your earnings and tax deducted.

* How do I figure out how much tax I will owe because when I was PAYE it was automatically deducted? The tax return will automatically calculate your tax as you enter the numbers. All income is added together, then the tax (and NIC) is worked out, then the tax already paid under PAYE is deducted - the end result is your tax liability or refund (assuming you've entered all the right figures).

* Are there any deadlines for registering and filing this? Filing and payment deadline is 31 January 2019 for 17/18 tax year assuming you're completing and submitting the return online. But you need to leave yourself enough time to get online access codes, and deal with any queries etc., so best to start the ball rolling now to avoid last minute panics and potentially missing the deadline.

Answers above.

superlative

Dazed_and_confused wrote: »

HMRC will send you a return or notice to say you must file a return. You will have a minimum of 3 months to file the return and any tax you have to pay must be paid by 31 January 2019 to avoid any late payment interest or penalty.

I think this isn't quite right. There are two separate things, registering as self employed, and completing your tax return. For registering, it used to be three months after you started, but was relaxed to 5th October the following tax year. It's not clear from your post whether you've registered as self employed or not. If not you've just missed the deadline, and so there's a chance of a penalty. Suggest you get on with that part asap, and hopefully you won't get fined.

The deadline for completing your tax return AND paying any tax due is 31st January. Don't wait until the last minute though! Start now, so you know how much tax is due and can put money aside if necessary. Plus the first time you do it you may have lots of questions, and the helplines get busier the nearer to the deadline you get.

https://www.gov.uk/self-assessment-tax-returns/deadlines

The other thing you need to do is register for online services, so you get a login and password for filling in the return. This used to take a week or more as part of the password comes by post, so again do this asap.

For the employment section, you don't need dates, you just fill in the information from your p60s about your earnings and any tax paid in that tax year. This part of the tax return is quite simple.

For self employment yes you will put in start and end dates.