Guide discussion: Self-assessment tax returns

Former_MSE_Naomi

Self-assessment tax returns guide.

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carltonp

Hello Community,

I appreciated this forum is about SA, however I was wondering if you ask for some advice due my recent relationship with my accountant has come to an abrupt end.

As I have just mentioned, my relationship with my current account has been severed. However, my Corporation Tax is due today and I'm not sure what to do.

I have emailed Companies House requesting an extension to submit my annual accounts, however I have no real knowledge of preparing my accounts.

Can someone provide some advice on what I should do?

Regards

BoGoF

You need to get a new accountant asap.

csgohan4

if your Corp tax is due today, prepare to face a fine, as most accountants won't be able to file that quickly on a new client.

But as above get one quickly that is good as well

riverart

Hi,
Is it possible to offset your losses from your freelancer income against profits from your property income.
Thanks

[Deleted User]

riverart wrote: »

Hi,
Is it possible to offset your losses from your freelancer income against profits from your property income.
Thanks

The short answer is ‘yes’. One option for loss relief is against your total income of the same year. But, you do need to know what you are doing.

Pennywise

riverart wrote: »

Hi,
Is it possible to offset your losses from your freelancer income against profits from your property income.
Thanks

Yes, if you are a sole trader and preparing your freelance accounts on the accruals basis - not if you're a limited company or preparing your accounts on the simplified cash basis.

dreammcostume

HI,
When completing my tax return, in the PAYE section I have been asked to enter travel expenses. I searched the HMRC website to see what was allowed and this is what I need help clarifying.

"You cannot claim for travelling to and from work, unless you're travelling to a temporary place of work."

What do they consider to be a temporary place of work?

I work in various different (temporary) locations for various different employers, much like a self employed person but I'm paid PAYE. Can I claim travel expenses?

I have phoned HMRC who can't seem to give me a definitive answer. does anyone know?

BoGoF

If the work is for different employers but your only work at one workplace for each different employer then that is not the definition of a temporary workplace for the purpose of claiming travel expenses.

emmas112

I've got a daft question but I hope I'll get a definitive answer.  I earn just under 14k profit as a self employed freelance admin.  I incur very little expense doing this.  Am I eligible to claim the trading allowance of £1000 or would I be cheating somehow?  Thanks

uknick

Yes, trading allowance is claimable whatever your actual expenses, assuming you claim one or the other.  Not both.  Like you, I also have very low expenses and have claimed it since it started.