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Tax query
NicoleT83
Posts: 14 Forumite
Hi all. I started my business in July 2020 and have been sticking to under £1000 income through self employed. I haven't registered with HMRC yet as on their website it says I don't need to claim tax or register as a sole trader if earning under £1000.
As I haven't been earning over £1000 i haven't been keeping proper logs of all my incomings and outgoings- I've started now though. I'm hoping to register now though as I've had so many people get in touch that I've had to decline because of the cap. I was just wondering, will they ask for books dating back to July 2020 when I have my tax review? I don't want to do anything wrong!
Thank you!
As I haven't been earning over £1000 i haven't been keeping proper logs of all my incomings and outgoings- I've started now though. I'm hoping to register now though as I've had so many people get in touch that I've had to decline because of the cap. I was just wondering, will they ask for books dating back to July 2020 when I have my tax review? I don't want to do anything wrong!
Thank you!
0
Comments
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if you register as self employed from now then i don't think they will ask to see your books before unless they investigate you, which would only happen if you are a big crook, lol. so i think you will be fine.0
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