self assessment question newbie

[steveo3002]

we signed the mrs up for self assessment for the last tax year , when should we expect some forms to fill in to arrive?

thanks

 

[Hood]

I am not sure you will get forms, it is usually done online or at least mine is , probably for 20 years or more.

 

[carbonarc]

You need access to Gateway on the internet to input the relevant self assessment details. Do you have a Gateway password?

 

[chrismac]

my

we signed the mrs up for self assessment for the last tax year , when should we expect some forms to fill in to arrive?

thanks

my reminder arrived yesterday.

 

[GrahamGKD]

We get our Independent Financial Advisor to do ours - he doesn’t charge a lot and knows what you can claim against tax etc..

I used to do it myself when I was working - I found and shredded dozens of years’ worth of very old paper records I found in the loft the other day.

 

[Kram]

I could use some advice on this. I used to be PAYE and never been self employed, but it seems the only way to do tree work. Where do I start?

 

[sako243]

Wife has just gone from PAYE to self employed. Had a chat with our company accountant and one of the things he noted apart from keeping the obvious invoices for materials for work etc was mileage. Said it could be used to offset the tax as its a work expense. You don't get it back but I think it's used to reduce the amount that tax is paid on.

 

[steveo3002]

You need access to Gateway on the internet to input the relevant self assessment details. Do you have a Gateway password?

yes we do , is there no email /postal reminder ?

 

[charlysays]

Im just about to do the same. Registered for self assessment early January for 23-24 tax year, received a late filing penalty letter about 3 weeks ago then received my unique taxpayer reference a week later in the post LOL.
logged onto my online personal tax account and no mention of the penalty, just says submit return by 20th June.
I'm gonna get it done in the next week or so though. Confusing to say the least re the penalty situation.

 

[Hood]

yes we do , is there no email /postal reminder ?

You usually get an email from them, in fact I get many telling me about this webinar and that webinar and I do get an email saying to file my tax return etc.

 

[Pigeon_Droppings2]

I've always wondered how the liability thing works with self employed? Is the protection solely thro the liability insurance that you take out?

The missus might need to go self employed so keen to understand the risks.

 

[carbonarc]

yes we do , is there no email /postal reminder ?

I have just received an e-mail from HMRC concerning self assessment. Go on to your Gateway account to have a look at the 2024 to 2025 details for you.

 

[keithski122]

Last year I signed up for self assessment as doing a bit of work from home and might now go fully self employed. You can also put down using your home for an office/workshop at £6 per week to reduce tax liability.Work mileage at 45p per mile.Any other things to claim for?

 

[qwakers]

HMRC online services: sign in or set up an account

Sign in or set up a personal or business tax account, Self Assessment, Corporation Tax, PAYE for employers, VAT and other services.

www.gov.uk

log in, fill it out, submit.

i just did mine yesterday. £650 refund cheque will be arriving sometime soon, made a loss on paper for the se business, so i get a refund from my paye. (loss was legitimate, expansion costs)

 

[hotponyshoes]

I've always wondered how the liability thing works with self employed? Is the protection solely thro the liability insurance that you take out?

The missus might need to go self employed so keen to understand the risks.

You buy liability insurance just like you would buy car insurance, online via a comparison site is probably the easiest way.

Unlike car insurance it's not usually a legal requirement to have it but it's cheap enough for the peace of mind if you/she are working with anything of value. Your governing body might make it a condition of registration if you have one.

Public liability covers you for damages, if you are chopping down a tree and a branch lands on someone's car.

Public indemnity covers you against incorrect advice, if you tell someone the tree is fine and not rotten then a rotten branch falls off the next day and hits someone's car.

Like any insurance, they'll try everything not to pay out so you can't just act like a muppet and expect them to cover you.

 

[daleyd]

Sign up for the gateway as suggested - I’m an employee but have to do self assessment every year, it’s fairly painless doing it online plus you get an extra couple of months to complete as opposed to sending the paper copy.