Talk

Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

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.

V new to all this!

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now