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  • What Next? just registered

    ok so i have just registered over the phone with hmrc.. and they are sending me out:

    - national insurence exempt form - because im not earning over 5999 (or whatever it was lol)
    - and something else that could take up to 6 weeks to arrive (cant remember exacly what he said but will have my unique number on)

    is there anything else i have to do? He said they will send out my self assement form in april.. which needs to be done by oct 2013 (or online by jan 2014)
    as ive given a start date of 18/01 will i just fill out the assesment form by what ive taken from 18th jan - the april? or? im confused by this...

    I also did ask him what records i have to keep but he told me thats not his department.. (he was very rude actually!)
    but ive been keeping records of what i sell and what i buy in (including postage) . and therefore my daily profit/loss.. which will then work out the monthly p/l
    will they ask to see reciepts? as everything im doing at the moment is sold online.. so i only have paypal records.. not actual paper reciepts.

    I also have a part time (well 23.5 hours a week) job. will the self employment affect anything im paying (tax and NI) on that?

    Just want to know basically if ive covered anything and what i need to do next?

  • #2
    As your other post thought you started trading in November? Yet you mention accounts from 18th January, think you need to sort the dates out as Loody said the HMRC check forums and as you mention them they can easily search


    • #3
      Sarah I have to agree with Caroline that you really do need to get your dates sorted out because should the tax man happen to check your start dates you could find yourself with some explaining to do... Not sure if you have social media business accounts but your posts on this forum alone indicate some obvious timeline issues ...It is so easy for them to check up and so not worth the hassle.

      As for receipts...yes you need to keep them....whether they are paper or electronic records of online transactions.


      • #4
        i planned on starting in november.. but issues came up (ppersonaly family issues) which meant i had to put my plan on hold.. so i scrapped the business idea untill i had sorted things out.... i explained this to the hmrc man this morning and he aggreed that i did not start my business untill the 18th of january.


        • #5
          Originally posted by thetrinketbox123 View Post
          i planned on starting in november.. but issues came up (ppersonaly family issues) which meant i had to put my plan on hold.. so i scrapped the business idea untill i had sorted things out.... i explained this to the hmrc man this morning and he aggreed that i did not start my business untill the 18th of january.
          Ok....but you have said that you were selling in your other thread....and you mentioned closing your order book etc. So technically you WERE in business back in November. Sorry but am only going on what you have said in your other thread.
          Sarah x

          ~ The Lilac Dragonfly- Handmade Jewellery ~

          ~ Facebook Page ~


          • #6
            loody i have just replied to you there..

            i was selling as a hobby to begin with.. then had a few 'request of people' which i took. i closed my order book due to said family issues.. (didnt really want to go into that hence 'closed order book early') with only a cople of order to do which i was to complet as i took payment... i then stoped with the intention not to start again and to keep it as a hobby.. but i had a shop order on the 18th january.. in which i decided to try again... this morning i explained this all to hmrc. and they aggreed that i started as a business on the 18th! all was agreed with hmrc!


            • #7
              Sorry to be the bearer of bad news but there is no such thing as hobby selling. Even if you put down the date of 18 Jan as business start date any income you have had in the financial year will need to be declared on your SA form. See if the HMRC still do those free courses which are very helpful.
              Pat Murphy



              • #8
                I don't want to get into the date argument.
                To answer your question Trinket, if your start date is 18th January the first tax form you fill in will just be about money in and out of you business between 18th January and 4th April 2013 unless you want to add in tools and materials bought before officially trading. A quick question to the rude tax man or a nice one on your course will tell you how far back you are allowed to go with that one.
                When you get asked to fill in a form the next year your dates will be 5th April 2013 to 4th April 2014.

                There's a bit on the form where you can tell them about your other job. The online form tots the numbers up from all your different incomes for you so you don't pay too much tax.

                The funny number is what you type one on the online tax form but after that it remembers it for you.

                The receipts: the tax men can't check everybody so they pounce on people at random (I think they actually go for suspicious characters or trades). You don't know if they are going to ever visit you. Better safe than sorry.


                • #9
                  What's left to do?
                  Sort out some insurance (lots of threads about it on this forum -you can use the search box to find them).

                  Then it's the fun stuff.
                  Design a business card.
                  Play about with tablecloths and boxes to have a pretty display ready if you do a fair.
                  And make and sell.


                  • #10
                    All I have to say about the date business is that if you have had a telephone conversation with HMRC in which the date came up, and they stated that the date of X was acceptable to them, make accurate notes of the date, timer and content of the conversation and the name of the person with whom you conversed.
                    Then KEEP that record of the convo.

                    If you are worried about dates, write to them something on the lines of 'On 29th February 1984 at 10.30 am I spoke with Cornelius O'Flaherty regarding ABC. During the conversation it was agreed verbally that XYZ will apply. I would very much appreciate confirmation of this in writing. I would also like to thank Cornelius for his useful advice and constructive recommendations blah blah blah' (a bit of flattery never goes amiss)
                    KEEP A COPY OF THIS!

                    You will get one of four things. No reply, a non committal reply, a reply agreeing with you or a reply disagreeing with you.


                    • #11
                      That is SO what to do....but I bet Trinket can't remember his name.

                      Let's step back a bit - she's registered so she won't be fined. All that's really a (mini) problem is if they will allow her to put stuff she bought before the starting date down as tax allowable expenses. I expect they will but if they don't, I suspect the amount of money that's allowed, or not, will be so miniscule in the scheme of things that it's not worth going grey over it.

                      Sometimes it cheaper to let something go rather than pay the prescription charge on a packet of anti anxiety pills .


                      • #12
                        Originally posted by AnnieAnna View Post
                        That is SO what to do....but I bet Trinket can't remember his name.
                        Probably not - but making records of phone convos with officialdom is a useful habit to get into, and writing a letter to them summarising the convo is even more useful if you are at all concerned that something said, on either side, might come back to bite you, or be conveniently 'forgotten' later ...

                        Oh, and send the letter recorded delivery/signed for or something like that so it can't handily be 'not received'.

                        I used to volunteer in a rights-of-way organisation in an area where public rights-of-way were, let us say, NOT considered particularly public, so I have a lot of experience of denied, misleading and altered phone conversations with officialdome - and how to counteract them!

                        I agree it's not worth the OP worrying about the dates now, though - she is all above board now, and that is the main thing.

                        I've been looking through the latest HMRC e-learning course for starting your own business.
                        This is the relevant page; in brief it states (my bold)
                        It's important to tell HMRC that you are self-employed as soon as possible.
                        Your business has started when you start to advertise or you have a customer to buy your goods or services.

                        It is at this point that your business is 'trading'. You cannot register before you start trading.
                        You must tell HMRC within six months of the end of the tax year in which you start self-employment.