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Tax Return hardly made any income last year? Do I still need to fill it in?

(5 Posts)
mumznet Sun 26-Jul-15 15:34:56

Hi everyone,

This is my first year I have been self employed part time. It is only a hobby not a main source of income and I only made like £300-£400 in profit last year. Is it still necessary for me to fill in a tax return?

Thanks x

bertiebogtrotter Sun 26-Jul-15 15:46:00

Yes, you need to complete it. You say it is not your main source of income so you have other income too? This needs to be included on your tax return in order to calculate your tax liability.

mumznet Sun 26-Jul-15 21:36:37

Hi Bertiebogtrotter, Yes I work part time. So, how do I work out net business profit and loss? should I just leave those blank I dont seem to have any figures for calculation apart from £300 profit. there were no other allowances ert

cheers x

TalkinPeace Mon 27-Jul-15 17:15:44

You will be leaving LOTS of blank boxes on the return.
That is perfectly normal.

mumznet Tue 28-Jul-15 20:41:33

thanks Talkinpeace...i'm glad to hear it is normal...i was beginning to think that I am turning crazy and need an accountant :-)

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