Self assessment

[Freelancetrainer]

Hi there!

I’m register for self assessment with HMRC and received the activation code for online services. I don’t need to file a self assessment til 2020 but can anyone tell me how I get one? Do HMRC send it automatically? I was hoping to have a look at one to see what sort of detail it asks for so I can be prepared. I realise it’s income/outgoings and keep all receipts etc but I’m also looking for information on the different accounting systems to use (simple I’m guessing) and how to calculate different things and know what categories they come under. Or is it just a matter of me finding all this out myself?

 

[Dani_1984]

Just log in from 6th April 2020 and fill it in! It's that simple!
You also have the option of not having to fill in a breakdown, you are able to just put in all outgoings as one single figure.
This is probably the easiest if you don't have a complicated business.

 

[Freelancetrainer]

Just log in from 6th April 2020 and fill it in! It's that simple!
You also have the option of not having to fill in a breakdown, you are able to just put in all outgoings as one single figure.
This is probably the easiest if you don't have a complicated business.

That’s great. Thank you. I think I’m just one of those people who thinks “it can’t be that easy”! [emoji23][emoji23]

 

[Dani_1984]

That’s great. Thank you. I think I’m just one of those people who thinks “it can’t be that easy”! [emoji23][emoji23]

It's not as scary as it seems!
If it's a pretty straightforward business without vat etc to contend with it really is very easy!
Just don't lose your government gateway

 

[salonfrog]

Remember your activation code only lasts a number of days so log in asap.
As a self employed person under the VAT threshold, there are only a small number of boxes to fill in.
Here’s a link to the 2 hard copy forms that you’ll need to complete online each year:

https://www.gov.uk/government/publications/self-assessment-tax-return-sa100

And

https://www.gov.uk/government/publications/self-assessment-self-employment-short-sa103s

 

[House Beauty]

That’s great. Thank you. I think I’m just one of those people who thinks “it can’t be that easy”! [emoji23][emoji23]

It really is super easy. There’s a zillion questions on the form but in basic it’s just address, incoming, outgoing, any other job earnings that you fill in. Most of mine are 3 empty pages and one with a small amount of notes on. Then it will tell you if you need to pay.

And do not lose that code!

 

[Freelancetrainer]

Remember your activation code only lasts a number of days so log in asap.
As a self employed person under the VAT threshold, there are only a small number of boxes to fill in.
Here’s a link to the 2 hard copy forms that you’ll need to complete online each year:

https://www.gov.uk/government/publications/self-assessment-tax-return-sa100

And

https://www.gov.uk/government/publications/self-assessment-self-employment-short-sa103s

Thanks for that! It seems I didn’t need to fill one in but I did as I recently received a letter from HMRC asking me to complete one. I only started trading in February so only had 2 months and 5 days income which was below the £1000. I’ve sent it in though when I didn’t need to. [emoji23]

I did think it strange that I wasn’t asked for any figures anywhere to do with my self employment. I’m assuming it’s because I was under the £1,000 turnover?

I wasn’t asked about start up costs or costs of equipment and furnishings so I hope I can show those costs in next years tax return even though they were purchased 2018-19?

 

[BannerPenguin]

Thanks for that! It seems I didn’t need to fill one in but I did as I recently received a letter from HMRC asking me to complete one. I only started trading in February so only had 2 months and 5 days income which was below the £1000. I’ve sent it in though when I didn’t need to. [emoji23]

I did think it strange that I wasn’t asked for any figures anywhere to do with my self employment. I’m assuming it’s because I was under the £1,000 turnover?

I wasn’t asked about start up costs or costs of equipment and furnishings so I hope I can show those costs in next years tax return even though they were purchased 2018-19?

If you've declared them in this years accounts you can't re-use them in next years return. You can carry your loss forward though I believe.

 

[salonfrog]

Thanks for that! It seems I didn’t need to fill one in but I did as I recently received a letter from HMRC asking me to complete one. I only started trading in February so only had 2 months and 5 days income which was below the £1000. I’ve sent it in though when I didn’t need to. [emoji23]

I did think it strange that I wasn’t asked for any figures anywhere to do with my self employment. I’m assuming it’s because I was under the £1,000 turnover?

I wasn’t asked about start up costs or costs of equipment and furnishings so I hope I can show those costs in next years tax return even though they were purchased 2018-19?

Had you registered as self employed with HMRC?
Also on the tax return, there’s a box to tick that you were self employed during the tax year. Tick it and the additional boxes show up.
Yes, you should claim all your start up costs on the return.
Good news is that you have a few months still to re-submit it! Worth thinking about:

https://www.gov.uk/self-assessment-tax-returns/corrections

 

[Freelancetrainer]

Had you registered as self employed with HMRC?
Also on the tax return, there’s a box to tick that you were self employed during the tax year. Tick it and the additional boxes show up.
Yes, you should claim all your start up costs on the return.
Good news is that you have a few months still to re-submit it! Worth thinking about:

https://www.gov.uk/self-assessment-tax-returns/corrections

Hi
Yes I phoned to register as self employed and they sent my activation code etc. Then I received a letter saying I needed to fill in a return so I did. I answered the yes/no questions and I ticked the self employment box but then it asked if I’d hit a thousand pound turnover which I hadn’t.
I don’t remember being presented with self employment forms though.
So although I have no tax to pay and no profit to show, are you saying I should put all my start up costs on this Tax Return and the loss will automatically be carried forward by HMRC onto the next Return? or is it me that has to carry it forward onto the next Return?
I think I’ll need to redo it tomorrow. [emoji51]