Any one know if i get notified about a tax return?

[WeAreBornToSmile]

Started as a CM last september, now its a new tax year do i get something from HMRC asking me to submit a tax return? or do i need to phone them?

Thanks for any help!

Presuming you told hmrc you were self employed, they will send you a letter about tax returns at some point (I forget when but before October as I think that is the deadline for paper ones, although you have until January to do it online).

It should be with you by the end of the month.

I've had my letter today to say I need to do my tax return. Not that I will do it yet ....

Thanks all, will await the letter of doom!

Same as HSMM, got mine today

Both dd's childminders got theirs today.

If you don't get a notice through you still need to complete a tr - the joys of self assessment. Might be best to make a note to follow this up later in the year in case you don't receive a notice.

Had mine yesterday. Being the keen person that I am, have put in draft figures and found out what I need to pay in January and next July (this is my first year of having to pay something from my tax return as my self employment has risen somewhat).

I have a question to ask - in January I need to pay the whole liability for 2011/12 and the first payment on account for 2012/13, with the second payment on account in July 2013. Does that mean that assuming my income stays roughly the same, that in January 2014 I will only have to pay the first payment on account for 2013/14 as I will have paid the liability for 2012/13 by then (I realise it may change a bit depending on exactly what I earn during this year). So this first year feels more painful (although of course I have had a while to get the money and still have another 9 months until the payment is due) but in future there won't be so much to pay all at once?

Pretty much yes

I had my letter yesterday too.

qed u just confused the bejazzles out of me!

Sorry - it made sense last night :)

Basically in the first year you submit a tax return you pay all the tax (and class 4 NI if your profit is high enough) for the year that's just been and then you have to pay half that as well as a payment on account for the next year. Then in July you pay the other half. So when January 2014 comes round you've paid the 2012/13 tax bill and only need to pay half the next years tax bill.

That is probably more confusing

That is probably more confusing

I think it is clearer - but you still missed out that you only have to make the 2x50% payments on account if your bill is over £1,000.

You also won't need to make payments on account if more than 80% of your total tax liability is deducted at source

Go onto the IR website, and register as self employed, it is actully quite a good website and not too baffling. I have managed to do three tax returns myself but haven't had to pay tax. You get until 31/10/12 to submit a paper return an to 31 January 2013 to file online. Be warned though if you don't submit on time there are penalties - evenif you don't have any tax to pay. If you are even one day late there is a £100 fine, three months late you get a daily penalty of £10 per day up to £900. You should probably have a chat with an accountant to keep yourself right. Good luck!