Self Assessment Help!

[Super Gus!]

I was self employed a few years ago but am now employed and have been since Nov 08. I have been sent a self assessment reminder but not sure what to do? I pay my tax through my employer at the moment so pretty sure i don't owe anything

Do i just ignore it??

 

[Gazwag]

No don't ignore it you have to complete one if its been issued.

If you do nothing you will get a £100 penalty notice issed in February.

 

[northernblue]

If you have paid tax though your work throughout the whole of the tax year Apr 09-Apr 2010 then you're fine. It probably means that you are still registered as self-employed so are on their list to remind. Best phone them though with your national insurance number + work details etc just to let them know. Don't ignore, just in case, they don't take ignorance as an excuse!!

Just going through my self-assessment now, I should have put bits away during the year but didn't get round to it until October - February is set to be a frugal month spent on tesco value beans!!

 

[Super Gus!]

cheers, seems the div of an accountant i had ticked the wrong box last year, saying i agreed to pay tax this year. good one!

 

[Fef]

Never 'just ignore' anything from HMRC. They don't do being ignored.

 

[adrian29uk]

I was self employed a few years ago but am now employed and have been since Nov 08. I have been sent a self assessment reminder but not sure what to do? I pay my tax through my employer at the moment so pretty sure i don't owe anything

Do i just ignore it??

When you where self employed did you keep a record of everything you earned and everything you paid out?
You will probably owe the inland revenue money. If you ignore it you could fined up to £1000
I hate paying money to Inland Revenue, but I always put aside about 35% of my earning for this reason.

 

[Gazwag]

When you where self employed did you keep a record of everything you earned and everything you paid out?
You will probably owe the inland revenue money. If you ignore it you could fined up to £1000
I hate paying money to Inland Revenue, but I always put aside about 35% of my earning for this reason.

He ceased in Nov 08 which was the 08/09 tax return not this years.

 

[Tight shorts]

You do need to file a Return if it was issued by HMRC. Do it online, if not registered online already, register NOW as it can take a week or 2 to get registered. Don't necessarily blame the Accountant, HMRC quite often keep you in the Self Assessment system for the next year after ceasing self employment. Ring HMRC and explain your current situation so they take you out of Self Assessment for next year.

 

[Freddie Goodwin.]

I wouldn't waste time ringing them. You'll wait for hours and then can't be sure that the contact centre caller will update your record from a phone call.

Best way to get info processed is by doing the return. Put down the figures from your P60 which will show your earnings and that tax has already been deducted and just add a note that you are solely PAYE.

As far as i know, any fine for late filing will not exceed the tax due so, if you don't owe any 9having already paid via PAYE) then you will not get a fine. Still, try to beat the deadline as not worth the hassle.

 

[Ⓩ-Ⓐ-Ⓜ-Ⓞ-Ⓡ-Ⓐ]

Never 'just ignore' anything from HMRC. They don't do being ignored.