Tax return

[Roby]

Hi there,

 

I'm a beginner self-employed person and I'm trying to do the tax return on my own with the aid of an application.

 

I started off in September 2018.

 

Do I need to file a tax return now you think?

 

Many thanks!

Rob

[rapalaman]

Hi rob,

your books will finish April 5th 2019 and should be submitted after that date and under current rules tax to be paid by 31st jan 2020 (as far as I’m aware)

Moves are underway to make all submissions digital every 3 months so worth keeping up to date with what hmrc are doing. A good accountant will save you more than they will cost you!

 

[Alycidon]

I have just set up my first payment for July 19 on account under the making tax digital that comes into effect April 19.   Seek the advice of a good accountant,  not cheap but they do pay for themselves on the longer term.

 

A

[Inoff the Red]

15 hours ago, Alycidon said:

I have just set up my first payment for July 19 on account under the making tax digital that comes into effect April 19.   Seek the advice of a good accountant,  not cheap but they do pay for themselves on the longer term.

 

A

Interesting. Making Tax Digital for VAT goes live in April 2019 but I understand that MTD for income tax will not go live until April 2020 at the earliest. Have you volunteered to be one of the guinea pigs that trials it early?

 

I was a little confused by your comment that you have set up your first payment on account for July 2019. The first payment on account is usually made on 31 January 2019 (together with any underpayment in respect of the 2018 tax year) with the second payment on account being made in July.