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Do i need to complete tax return?

2 replies

howfartospar · 22/08/2023 21:30

I set up a company as a sole trader, as I wanted to sell on Amazon. The idea didn't materialise due to the ridiculous red tape Amazon puts on sellers. Anyway, I've had a letter to say I should complete a tax return, but my company has 0 turnover (saying that, i did have £70 for opening a Tide business account)
Do I actually need to complete a tax return? if so, can someone guide me to information on how to complete the process, please?
TIA

OP posts:
Aprilx · 23/08/2023 00:00

Setting up a company and being a sole trader are two completely different things in an accounting / tax sense. So firstly did you set up a company or did you register as a sole trader? Nobody can advise what you need to do without establishing which.

Either way, if HMRC tells you that you need to do a tax return, then yes you need to do a tax return.

DiddlyDonut · 23/08/2023 00:09

Contact HMRC explaining you registered but it never came to fruition and you don't believe you need to complete a tax return. Send it recorded. They should send you confirmation back that it's no longer required.

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