Self-Assessment Tax Return -- really confused

lvakq

Jeremy535897 said:

It is your business the form is talking about, not your customer's business. The agency is a customer of your self employed business.

Ah I see! So if I am filling this out in terms of my teaching (in other words, my income), I should leave 'trading name' blank, put in my own address in the details? Do I ever need to mention the agency then, or does HMRC simply see me as 'tutor + X income in 2019-20'?

Dazed_and_C0nfused

Hm so because I haven't been sent a document requesting me to file, it's acceptable to have missed the registration deadline? This seems strange to me.

You are mixing up two things.

You cannot be given a £100 late filing penalty for not filing a return you haven't even been asked to file yet.

Late registration is a separate matter.  I don't recollect many posters reporting receiving one and you can minimize the chances by voluntarily registering.

Jeremy535897

lvakq said:

Jeremy535897 said:

It is your business the form is talking about, not your customer's business. The agency is a customer of your self employed business.

Ah I see! So if I am filling this out in terms of my teaching (in other words, my income), I should leave 'trading name' blank, put in my own address in the details? Do I ever need to mention the agency then, or does HMRC simply see me as 'tutor + X income in 2019-20'?

Your trading name should be one of your own choice, but just enter your own name followed by "teaching" if nothing else suggests itself to you. The agency is your customer, and is not relevant to the registration, but I am a bit surprised that you are not treated as employed by them. See https://www.gov.uk/guidance/understanding-off-payroll-working-ir35  However, that is the agency's problem, so for now at least, just register as self employed as I suggested above, leave the agency out of it, complete your self assessment return in due course (by 31 January 2021) and state that you are a director of X Limited, but that it was dormant in 2019/20 and you took no income from it.

Vaughanie

Not sure if I’m posting this in the right place - sorry, I’m new to this! I have a question about my tax bill. I let out a furnished holiday home. For the first time the in 2019 to 2020 tax year my profits were just over £10000 so my tax bill includes a payment on account for 2020 to 2021. Obviously profits this year will be minimal due to the restrictions during COVID so the payment on account is going to be difficult. Can I request for this payment to be waived under the circumstances? If so, who do I contact? 

Dazed_and_C0nfused

No, you can't ask for it to be "waived".

You can make a claim to reduce the payments on account if you believe the Self Assessment tax due for 2020:21 will be less.

But the payments on account are based on your total liability, they are not specific to a particular source of income.

I think you can probably make a claim to reduce the payments on your Self Assessment account.

Vaughanie

Ignore the above post - I’ve started a new thread!