Tax

[GooseFriend]

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.

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.

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!