Taxation help !! Advice needed asap

[gg1234]

Hi All,

I went self employed for a period of 4 -5 months with a sales firm ,But I havent earned any money still .I then seeking that I am not making any income have to overdraw my self employed status.I would like to know that are there any forms should I fill like low income forms etc for the coming taxation year .

Thanks.
gg

[piggychops]

If your income is below a certain amount you can apply to National Insurance to be exempt from paying that.
For tax, if you are registered self employed, you will have to fill out a tax return, even if your income is 0.
If you cease to be self employed you need to tell National Insurance as soon as it happens, and the tax office when you do your return.
Is English your second language? Citizens Advice may be able to help you with form filling.

[gg1234]

hi ,

Ohh its 31 Jan the last date for all online returns .:( ..Thanks I thought if I earned notihng I dint have to file the tax return .Thanks for the info.

Regards,
gg

[piggychops]

The deadline is for tax year April 2013- April 2014. If you registered self employed after that you don't need to do anything til next year.
I'm not a tax expert by the way!

[piggychops]

If you never earned any money at all and want to stop being self employed you may be able to write to them explaining your situation instead. There is also a section on the tax return which allows you to do that too.

[gg1234]

Thanks piggy chops your advise was an eye opener

[Nellprz]

Hi, the National Contributions Small Earnings Exemption certificate can't be back dated so I believe you'll have to pay contributions for the time since you registered as self employed.

[debibidapo]

Hi gg123 in addition, please note:

1. Have you ever registered for Self Employment and already have a unique reference number from HMRC? If no, please register as self employed online.hmrc.gov.uk/shortforms/form/SA1
2. Because you only have a few days to deadline (31/01/2015), call the tax office. In my opinion, if this marketing job was between 06/04/2014 to-date, then you do not have to worry. Otherwise, it was only for a few months and you had no pay from it - so don't waste your time and HMRC time. If you got paid any amount, please declare it.
3. If the job was some time before 05/04/2014 and you already have UTR from HMRC, then you need to act fast by visiting HMRC Website online.hmrc.gov.uk/registration/individual
4. Write to HM Revenue and Customs

Status Customer Service Team S0844, PO Box 3900
Glasgow, G70 6AA, United Kingdom

Trust this is clear and not too much. It is better to be compliant. Also, these people are there to help.

For free advise on self assessment if this is unclear not clear, you may send me a message. Good Luck.