Self-assessment Short Form

Laurasofia · 20 July 2014 at 10:41AM

I started a business on 12/07/13 and closed it on 16/07/13. I only earned £60.00. Now I have been asked to fill in a Self-assessment form. Should I fill in the Self-employment short one? I find the notes that accompany this form extremely difficult to understand.

I am spending hours trying to understand this papers and any help is much appreciated. Laura

Savvy_Sue · 20 July 2014 at 11:13PM

What are the questions and what do you not understand?

Laurasofia · 22 July 2014 at 8:26PM

Hi, thank you very much for replying.

My first question is:

Is the date the business closes the date the accounting date ends?

I understand that my basis period is from 12/7/13 to 16/7/13 and that the accounting period is the same. Is this correct?

I have been trying to fill in the form online and it does not explain what the accounting date is.

Laura

Savvy_Sue · 22 July 2014 at 11:55PM

I'll send a pm to Fran and jobbingmusician (the board guides for this board) and ask one of them to move it to Cutting Tax,where they'll sort you out very rapidly, I should think!

jobbingmusician · 23 July 2014 at 12:12AM

Done

(or it will be in a minute)

Laurasofia · 23 July 2014 at 4:48PM

Thank you for your help. Laura

purdyoaten · 23 July 2014 at 5:22PM

Laurasofia wrote: »

Hi, thank you very much for replying.

My first question is:

Is the date the business closes the date the accounting date ends?

I understand that my basis period is from 12/7/13 to 16/7/13 and that the accounting period is the same. Is this correct?

I have been trying to fill in the form online and it does not explain what the accounting date is.

Laura

The entries, albeit in a roundabout way, are as you state.

The date the business closes is the date the business, errrr, closed. The basis period is the period that you traded as it was all within the same tax year.

Laurasofia · 24 July 2014 at 7:29PM

Thank you for your reply, which is very useful. I'll write to HMRC to see if they can cancel this assessment form. If they cannot, I'll have to post here my second question. Thanks for the time being, Laura

purdyoaten · 24 July 2014 at 7:50PM

Laurasofia wrote: »

Thank you for your reply, which is very useful. I'll write to HMRC to see if they can cancel this assessment form. If they cannot, I'll have to post here my second question. Thanks for the time being, Laura

Cancel?????? Why?

zygurat789 · 24 July 2014 at 8:08PM

Laurasofia wrote: »

Thank you for your reply, which is very useful. I'll write to HMRC to see if they can cancel this assessment form. If they cannot, I'll have to post here my second question. Thanks for the time being, Laura

If HMRC would cancel tax returns because they are asked we would all be doing it.

Is the date the business closes the date the accounting date ends?

That's the definition

I understand that my basis period is from 12/7/13 to 16/7/13 and that the accounting period is the same. Is this correct?

There is nothing else it could be

I have been trying to fill in the form online and it does not explain what the accounting date is

But you already know the answer to this

Savvy_Sue · 24 July 2014 at 11:16PM

Generally, if HMRC as you to complete a self-assessment form, you need to do so. Whatever you do, submit it by the required date.

If it's clear no tax is due, and you're not in receipt of taxable income other than through PAYE, you can ask them to withdraw you from self-assessment, but as long as they ask you to do one, the only thing to do is submit it.

Self-assessment Short Form

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