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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5113
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
Type Your Tax Question Here... is online now

Client registered -employment in September 2014. I was

This answer was rated:

client registered for self-employment in September 2014. I was planning to do a year end of August 2015. therefore a tax return of 2015/2016.
now they have put a penalty against 2014/2015, saying she should have completed one.
I wrote back saying that the clients first year end falls in 2015/2016, so therefore they shouldn't have expected a return for 2014/2015.
they wrote back saying because she was registered in September 2014, we have to complete 2014/2015 return.
who is right and who is wrong.

Thank you for your question...

As the self employment commenced in Sep 2014, the tax return 2014-15 would cover period Sep 2014 to 5 Apr 2015 and you should report the profits for this period in your Tax Return 2015.

In practical terms you would look at the profit for ye Aug 2015 and pro rata it into two tax years to ascertain your profit for the period Sep 2014 to 5 Apr 2015.

HMRC is right..

More information on this can be found here

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.

Hi there, just checking if you have any outstanding concerns from my answer you viewd on 9 Jun 2016.

Many thanks

Customer: replied 1 year ago.

trying to come up with an argument that we shouldn't have to do a 2013/2014 Return as our idea was to declare the full year accounts in 2014/ 2015.

especially as the tax return is late.

any suggestions?

Thank you for your reply...

If your client was sent a notice to file a tax return for 2013-14, then there is little you can do, as you have to file a return albeit a nil return, I'm afraid.

I hope this is helpful.

Customer: replied 1 year ago.


Thank you for your reply.

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Best wishes.