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When do I submit my first tax retun?

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  • When do I submit my first tax retun?

    I registered my company in August and registered for self assessment. When do I submit my first return as I know the current deadline is 31 Jan 2013
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  • #2
    When you say registered your company do you mean ltd company with the attendant joy of corporation tax? They'll write to you. Or you can log in to the HMRC website and that will have all the dates
    self assessment - you'll need to make your first return in the next tax year .not yet. Again, your section of the HMRC website is a good place for info.
    You may need to enrol for online returns now - sooner rather than later. It is a bit cumbersome as a proceedure and not to be done at the very last min.

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    • #3
      Quick reply, many thanks. Yes I want to use the self assessment facility and have enrolled on line for this. So I need to have done a full year before doing the return? I've downloaded all the help sheet from HMRC but couldn't find any info about when to submit first return.

      That gives me till 31st Jan 2014 to submit my first return. Is that right?
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      I shelter here some days.

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      by Pauline

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      • #4
        Glass Eye....HMRC will contact you if you have registered. They will send a letter (they don't send emails) to say that you need to complete and send a tax return. You can either do it on paper or online. When you registered with HMRC can you recall how you registered, as a sole trader or as a Ltd Business? Whichever, it does not matter. As Pearlesence says, they will write to you. They don't send a letter saying, "We need your tax return by TOMORROW!". As long as you have basic spreadsheets you'll be fine, even if you need to spend a couple of evenings tidying things up. Don't panic.
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        • #5
          I've had confirmation that I have registered but nothing to say when I needed to submit a tax return. I am a sole trader. As I said I registered in August. Just really wanted reassurance that I can leave it until after August 2013 to sub my tax return. That will mean I have a full year of business.

          I've kept records of everything. Have some experience of book-keeping from years ago.

          Thanks for the support with this.
          I come back here from time to time
          I shelter here some days.

          JUNO GLASS
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          by Pauline

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          • #6
            I've just done my first tax return, you'll have until Jan 2014 to do yours online for 2012, or Oct 2013 if you're doing a paper version

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            • #7
              Originally posted by Alphya View Post
              I've just done my first tax return, you'll have until Jan 2014 to do yours online for 2012, or Oct 2013 if you're doing a paper version
              Hi
              Did you wait a full year before you submitted your first one Alphya?
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              I shelter here some days.

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              by Pauline

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              • #8
                Originally posted by GLASS EYE View Post
                I've had confirmation that I have registered but nothing to say when I needed to submit a tax return. I am a sole trader.
                If you've had confirmation of registration then you don't need to worry. You won't hear from them again until they send you the reminder to do your return, and they will tell you when it needs to be done by. So just sit back and chill!
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                • #9
                  Unless you make a shedload of money you won't need to have full accounts either, just profit/loss. It is okay to keep all your paper receipts etc in one box and then go through them when the time comes. This is when having a separate bank account helps too - looks more professional and you have a record right there of all the receipts and payments.

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                  • #10
                    Originally posted by GLASS EYE View Post
                    Hi
                    Did you wait a full year before you submitted your first one Alphya?
                    I just submitted mine for 2011-2012, so yup

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                    • #11
                      When I started my business 20 years ago I registered well after 6th April and I was sent a tax return the following year to submit one for the 5th April. You do not have to fill this out until 31st January of the following year. So if I started a business 1st August 2012 I would have until 31st March 2014 before they charge you. You basically have from the 6th April 2013 until 31st January 2014 to get the tax return to them for the period 1st Aug 2012 until 5th April 2013. But don't worry about this because they will always send you a tax return and tell you when it needs to be with them.

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