How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask taxadvisor.uk Your Own Question

taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4715
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
54961312
Type Your Tax Question Here...
taxadvisor.uk is online now

, I am UK born and bred and always paid tax - self

Customer Question

Hello,
I am UK born and bred and always paid tax - self assessment. Until May last year I ran my own business until I ran out of cash and had to liquidate it. From then 'til now I have been trying to make a living working from home - shares and forex currency trading. I have just received a penalty notice from HMRC....
I have not seen an accountant and was rather hoping to sort things on-line, can you help?
I thank you in advance,
Russell Oddy, Bewdley, Worcestershire.
email: *****@******.***
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.

Hello and welcome to the site. Thank you for your question.

Is the penalty notice relating to not filing the tax return 2014 (tax year ended 5 Apr 2014) on time?

What was your accounting year end?

You say you liquidated your business in May last year.. I take it you are referring to liquidating it in the current tax year).

Please advise

Customer: replied 1 year ago.

My last return would have been financial year end 2013. I did not file last years return to which a late penalty fine has been applied.

Expert:  taxadvisor.uk replied 1 year ago.
Russell, thank you for your prompt reply.

I don't have good news for you. You should have filed a tax return 2014 unless you had received any communication from HMRC advising you otherwise.

As you liquidated the business in May 2014, there was no reason to suspect you were not trading or your circumstances had changed in tax year 2013-14.

My advice would be to file your tax return 2014 without delay and furthermore remember to file the tax return 2015 (year ending 5 Apr 2015) on time. You will notify the tax office of your business ceasing in that return.

I am sorry the news is not that favourable.


I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Customer: replied 1 year ago.

I knew that. I am here looking for someone to help me fill in my 2013/14 return and then on going

Expert:  taxadvisor.uk replied 1 year ago.
RusselL, thanks for your reply.

I am happy to help you if you provide me with the details
Please let me know how you wish to progress it.

Many thanks
Customer: replied 1 year ago.

what is your price and what info. do you want.

Expert:  taxadvisor.uk replied 1 year ago.
Russell, thank you for your reply.

The sort of information I require is
accounts for the year ended in tax year 2013-14
information on other income/interest/investment income

If you wish me to help you file the tax return using software I use for clients then I can do that too but it will be part of additional services. I will send you an offer if you wish me to progress this. At that point I will let you know what else is needed.

if you decide not to proceed, then my request to you is not to rate my answer and we could close the chat at this point.

Please let me know.

Many thanks.
Customer: replied 1 year ago.

I can provide you with requested info. for you to file my return using your software - what is your price?

Expert:  taxadvisor.uk replied 1 year ago.

Russell, thank you for your reply.

I have sent you additional services details.

If you decide not to proceed, please let me know and I would opt out or request refund for you.

Many thanks

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
< Previous | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
 
 
 

Meet The Experts:

 
 
 
  • Sam

    Sam

    Accountant

    Satisfied Customers:

    6894
    26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
< Last | Next >
  • http://ww2.justanswer.com/uploads/TA/Tax Expert/2013-8-21_231010_sam.64x64.jpg Sam's Avatar

    Sam

    Accountant

    Satisfied Customers:

    6894
    26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
  • http://ww2.justanswer.com/uploads/BI/bigduckontax/2013-8-12_222058_1.64x64.jpg bigduckontax's Avatar

    bigduckontax

    Accountant

    Satisfied Customers:

    1772
    FCCA FCMA CGMA ACIS
  • http://ww2.justanswer.com/uploads/TA/TaxRobin/2013-8-28_16186_femalebusinessprofessionalbinderhand11038485.64x64.jpg TaxRobin's Avatar

    TaxRobin

    Tax Consultant

    Satisfied Customers:

    464
    International tax
  • /img/opt/shirt.png taxadvisor.uk's Avatar

    taxadvisor.uk

    Chartered Certified Accountant

    Satisfied Customers:

    2596
    FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
  • http://ww2.justanswer.com/uploads/MS/MsAM/2012-6-9_16426_anna.64x64.jpeg Anna's Avatar

    Anna

    Teacher, writer, biologist

    Satisfied Customers:

    268
    Great research skills, variety of work experiences, teaching experience.
  • http://ww2.justanswer.com/uploads/PD/pdheslin/2012-6-6_232056_pambig.64x64.jpg pdheslin's Avatar

    pdheslin

    Consultant

    Satisfied Customers:

    51
    20+ years of internet site creation and search engine optimization. Dozens of search tools at my disposal.
 
 
 

Related Tax Questions