Self Assessment for bounce back loan

rapunzelz86

Hello, so I've finally managed to activate my self assessment account online but it says no returns are due? I don't understand as trading since end of February and it says after April you'll be required to file. If its saying none are required I wont be able to apply for the BBL at all. Starting to lose hope altogether now. Tia. 

Jeremy535897

Have you actually registered as self employed?
https://www.gov.uk/log-in-file-self-assessment-tax-return/register-if-youre-self-employed

rapunzelz86

Hi, yes I did everything required which is why they sent me the activation code, UTR etc. I can sign in and it says I can apply for SEISS (not eligible), tells me I can defer payment for this years bill, then says you have no returns due. I've tried calling them and they just say they're busy and hang up (the automated system). I can't think why they'd say I don't have to file 😫

Jeremy535897

rapunzelz86 said:

Hi, yes I did everything required which is why they sent me the activation code, UTR etc. I can sign in and it says I can apply for SEISS (not eligible), tells me I can defer payment for this years bill, then says you have no returns due. I've tried calling them and they just say they're busy and hang up (the automated system). I can't think why they'd say I don't have to file 😫

Are you intending to use the free SA software to file? If you are ready to file, the only thing I can suggest is to fill in your return and try filing it. I use commercial software so perhaps someone who uses HMRC's software can advise.

rapunzelz86

Thanks, I'm not sure I was just expecting there to be a link or area of the site to do it online but it just takes me back to the same page saying no returns due. I'm new to this all round sp looks like I'd better to some research. Thanks !

Jeremy535897

There should be a link in your business tax summary that says "complete and submit tax year 2019 to 2020 self assessment return". It may be that they need to update it. Try watching https://www.youtube.com/watch?v=RWqvNRujEWU

rapunzelz86

Thanks so much for all your advice, I will watch that now 

Grumpy_chap

If you only started trading end of February, I understand you can self-declare predicted turnover for BBLS.  I do not think that requires 2019-20 tax return to have been submitted, unless that is a requirement of your bank.

ELLYP

I just got my loan from Santander today. I have had a business account with them for a few years and only had to give them projected turnover figure. So basically it was self assessed. I didn’t have to show any tax documents.

Grumpy_chap

If you've had a business for a few years, it should be a self-declaration of 2019 turnover.  The projected turnover figure is only intended to be applicable for new businesses for whom 2019 turnover is not available.

rapunzelz86

Thanks all. I managed to fix the issue by signing into my personal tax account then back in to my business tax account. Strangely the options were then all available. 
I was applying with starling so definitely needed the tax return and calculation. It was probably all for nothing but don't ask don't get, still waiting on HSBC feeder account as back up as my personal current account is with Halifax. 
Thanks again for all the help