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Tax

(3 Posts)
GooseFriend Thu 27-Apr-17 14:57:08

I have a job where I am employed and pay pay as you go Tax. I have also started a self-employed business. In this tax year I have had very small expenses and very small income (Under £100 each). I have heard that you can deferred tax for your first year. Is that the case and do you think I should?

I have already declared the business and had a letter saying I need to do a selfassessment tax return.

CuthbertDibble Thu 27-Apr-17 15:11:52

What's the point of deferring tax if it's only going to be a very small amount? You'll have to do a tax return anyway so might as well declare it.

GooseFriend Thu 27-Apr-17 16:04:45

Ah I thought it might be less rigmarole to refer. If it's still the same then you're right there's no point.

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