first s/e tax return

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ceribabe

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Hello, I am self employed since october 2009, do I need to submit a tax return for 2009 or can I join the last three months to 2010 and submit one in 2011?

When do I needs to submit it by? Also should I do a P21 for the first part of 2009 seperately as I was PAYE...thanks!
 
I think tax returns for the self employed for year 2009 were supposed to be submitted before 31st Oct 2010 otherwise they would be subject to a penalty fee.
It might be worth ringing revenue to talk you through what forms you need to complete, it is possible to make your tax returns online if you can figure it out.
Alternatively, it might be worthwhile going to an accountant or tax consultant, they may be aware of extra benefits you may not be aware of yourself.
 
ceribabe said:
Hello, I am self employed since october 2009, do I need to submit a tax return for 2009 or can I join the last three months to 2010 and submit one in 2011?

When do I needs to submit it by? Also should I do a P21 for the first part of 2009 seperately as I was PAYE...thanks!
Click to expand...

The tax return (Form11) for 2009 was due on 31st October 2010 but when you commence business you get an extra year to file your 1st year's tax return. So, your tax return for the year-ended 31st Dec 2009 can be filed up to 31st Oct 2011 without incurring a late-surcharge.

On your tax return for 2009 you will include your Paye income for the start of the year and your s/e income for the end of the year (you will get credit for the Paye tax alredy paid, so you arent paying tax twice on the same income). You won't get a P21 for the start of the year and a self-employed assessment for the same year, after all you only have one set of personal credits/tax rateband for the year.

Hope that helps a little.

If you are anyway good with computers you should sign up for the electronic filing on ROS, the Revenue Online Service.
 
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