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Self assement advice?

  • 25-10-2010 10:47pm
    #1
    bobthebuilder4
    Closed Accounts Posts: 1 ✭


    Hi folks,

    I'm a trades man who is faced with the daunting task of doing my own Form 11. I have very little income from last year and everything seems easy enough. Just have a couple of questions for you's, i dont have accounts prepared or anything as i only worked for 6 months of the year, so for the accounting period do i just put down the period i was working for myself or do i put the whole year down?

    Also i got job seekers allowance for a period, is the it asks for the taxable amount, is this the gross amount i recieved or what?

    I know i should employ an accountant to do this but i havent worked in well over a year and have no money to pay one.

    I would greatly appreciate any advice on the two issues i have and would be greatly indebted to anyone for their advice.

    Thanks guys


Comments

  • #2
    seco
    Registered Users, Registered Users 2 Posts: 81 ✭✭seco


    Hi,
    My understanding is that the first 13 euro per week of this benefit is not taxable however, if you are in receipt of jobseekers allowance due to short time working, such allowance is exempt from tax.


  • #3
    GeorgeTaylor
    Closed Accounts Posts: 18 ✭GeorgeTaylor


    Was that your first year of trading? Did you only register last year (2009)?


  • #4
    costacurta
    Registered Users, Registered Users 2 Posts: 197 ✭✭costacurta


    GeorgeTaylor wrote: »
    Was that your first year of trading? Did you only register last year (2009)?

    Yes I only set up in 2009 as an independant contractor and only had a few months of work before going back on job seekers


  • #5
    GeorgeTaylor
    Closed Accounts Posts: 18 ✭GeorgeTaylor


    If you've stopped after those few months and don't intend going more this year then your accounting period is just for the few months you did work.

    If you intend contracting again, then it's from the date of commencement to the 31st December (year of commencement rules), the results should be the same either way. You have to consider "year of commencement" rules which mainly affect the first two years' tax returns.


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