I've had the forms since April and I have until January to submit my tax return online. But I just don't understand it. I managed a cash flow spreadsheet today though, so progress at least.
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3 comments:
wait... forms since April.. can turn in by January? aren't we a little late here.. isn't it supposed to be "forms in January, turn in by April 15"???
just asking.... :)
British system is very different, Marc. I'm lazy, just shove all the receipts and bills into a folder during the year then add my statements for the business a/c and P60s for paid employment when they arrive in May and give it to the accountant who charges me around £100 for sorting it out. The most extra tax I've had to pay on top of Pay As Your Earn is 37p so I reckon he's earning his money! Don't stress over it as you didn't make a profit in your first year so there's no way you actually owe any tax.
See, it is confusing! If I only registered as trading in April do I need to include P60s from my previous job?? Who knows. Seems a bit extreme to get an accountant to do it for me when it's for a few days, but next year definitely!
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