Doing tax return while self employed and PAYE

uknick

textbook said:

I've added figures up for the year.  How many people go through it 2 or 3 times to he certain they're the correct figures?

More like 10 times just to be absolutely sure.  Especially the interest calculation as there are so many accounts dotted about. 

Bookworm105

veepod said:

I am self employed and regularly fill out a tax return, Last year I started another business (on top of the one i already have). In order to do the business I had to buy certain products (which I didnt use, although could have done). I have now stopped the buiness as it wasnt working for me but wonder if I can claim tax relief on the products that i bought. I didnt make any money on the business.

if challenged what real evidence would you have of an intention to trade in the new business? 
what have you done with the items purchased? Personal use? Sold off?

textbook

Dazed_and_C0nfused said:

textbook said:

TheSpectator said:

It's a Tax Return of your total income for the year. How do you expect the calculation to be right if you don't include all your income for the year?

I guess I thought they already had my paye figures from my employer and didn't need them.  Universal credit already has my figures for paye

They usually will have but it's called Self Assessment for a reason!

Sometimes the return is pre-populated with certain information HMRC is already aware of but it's still your responsibility to ensure that is correct.

Few questions -   my self employed income was below £7000 so I ticked voluntary NI payments number 2.   Will that give me a full years pension contributions?

It asked about pension contributions.  I have one private one but didn't understand the questions to it so just ticked no.  Think my accountant a few years back said that was fine! 

On  CIS i msy have had three payments under this (worked for a building company) but don't have the payslips so left this blank too. 

I just copied the P60 figures on paye section.

I had £5643 Paye  and  £6113 self employed income so I guess I won't be paying tax as those two figures is below the tax threshold of £12000

Nomunnofun1

If you ‘ may have had three payments’ under CIS you need to find out what they were and declare them. 

You may no longer hold the evidence but HMRC most certainly will and, in any case, the return would be incorrect. 

textbook

Nomunnofun1 said:

If you ‘ may have had three payments’ under CIS you need to find out what they were and declare them. 

You may no longer hold the evidence but HMRC most certainly will and, in any case, the return would be incorrect. 

I had four payments from the building firm.  The first was cash and the third three were bank transfers.  Would it it be wise to calculate the 20% ontop of the last three payments and put that total into the tax return?  

I'm guessing the first cash payment was before I was set up with CIS certainly going off the text nessages

Put in box below?

textbook

I was paid £283.5 + £266 bacs so total =£549.5 calculated that 20% was taken off this total (686.88)which is £686.88-549.5=£137.38.  I inputted this, correct?