Form 11

Q

quinerty

Registered User
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My husband was registered as S/employed but has wound up his company and is now a PAYE worker. We are looking to complete his tax return (form 11) over the next few weeks to get it out of the way and move on. His business was set up for a short period (Sept 2010 - Dec - 2011) He filed a tax return last March for the period Sept 2010 to December 2010. His accountant prepared this for him and there was no tax liability at the time.
My questions are:
  1. Is it ok to submit a Form 11 ourselves ie without an accountants input.
  2. Do we need to prepare accounts? Turnover was only c €10k for the full year.
If we could do the return ourselves we would be saving c €300 + VAT and as he made so little money last year it would help if we could save ourselves this cost at least.

I would appreciate any advice.
 
1. Yes
2. Yes

You mentioned S/employed and company these are two different types of structure so you need to be sure of exactly what the structure was.
 
Thank Joe 90. He was set up as a sole trader. How detailed do the accounts need to be?
Would we be able to prepare these ourselves? We're no accountants but could do a basic P&L a/c....
 
There will have to be a balance sheet as well, in order to complete the "extract from accounts".
If there were capital allowances on equipment or machinery claimed in the previous year you will need to follow through on those.
You can download the ROS offline tax return and work through without pressure. You can make changes and save until you are sure you are correct.
 
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