Do I need to do tax return??

cmbutterfly45

I set up a business under the btwea last sept 2012, do I need to submit a return this year or do I not need to do one until next year? I'm finding it very confusing I didn't make enough from it to owe any tax but just not sure about what way the return works as I know I had heard about a two yr thing for first , any help really appreciated as u can see I'm clueless

Fukuyama

You were supposed to have submitted a return for the year Jan 1 2012 to Dec 31st 2012 TONIGHT! :eek:

The ROS system needs to be registered for.

It's no biggie. You don't owe anything so just submit a late return and the revenue will forget about it.

They don't pursue little slip-ups likes this - particularly when there's nothing due.

Edit: I'm assuming you registered for tax with a TR1 form? Yes?

cmbutterfly45

Dean0088 wrote: »

You were supposed to have submitted a return for the year Jan 1 2012 to Dec 31st 2012 TONIGHT! :eek:

The ROS system needs to be registered for.

It's no biggie. You don't owe anything so just submit a late return and the revenue will forget about it.

They don't pursue little slip-ups likes this - particularly when there's nothing due.

Edit: I'm assuming you registered for tax with a TR1 form? Yes?

Thanks for replying can I still submit a return now? I'm all set up with ros ??

Fukuyama

cmbutterfly45 wrote: »

Thanks for replying can I still submit a return now? I'm all set up with ros ??

If you're set up with ROS then it's not too late.

If you're a sole trader and you have your books to hand then it shouldn't take long.

Maybe don't leave it until the kids are trick or treating next year! :P

cmbutterfly45

Dean0088 wrote: »

If you're set up with ROS then it's not too late.

If you're a sole trader and you have your books to hand then it shouldn't take long.

Maybe don't leave it until the kids are trick or treating next year! :P

Definitely not I really messed that up I thought I had until next year to do it!! Major oops now to try to figure out how to do this return, I think the business course went right back out my other ear!!

jimmii

I was in the same position as you I set my company up at the end of last year. If you didn't do much trading then it won't take too long I think it took me about 2 hours to track down all the bits and pieces and get it filed.

cmbutterfly45

Thanks for replies I sent in a return fingers crossed it's all ok !!

unnameduser

I'm not sure where you are from but my advice is drop David Moroney from Moroney & Co. a call on 061348976 and he'll advise you and have your tax affairs in order in a jiffy.

He'll explain your obigations, allowances, tax credits etc in a simple manner. Apart from offering a solid accountancy firm, David will give you solid on-going advice to improve your business and help it grow.

Take it from a happy client.

Best of luck.

Dave.

viztopia

You have until 14 November to file online

Alan Shore

Dean0088 wrote: »

You were supposed to have submitted a return for the year Jan 1 2012 to Dec 31st 2012 TONIGHT! :eek:

Dean, I hope that you are not advising clients!

If the OP registered in 2012 then the tax return for 2012 is not due for filing until 31.10.14!!!!

cmbutterfly45

Alan Shore wrote: »

Dean, I hope that you are not advising clients!

If the OP registered in 2012 then the tax return for 2012 is not due for filing until 31.10.14!!!!

That is exactly what I thought!!
Have submitted a return from sept-dec 2012 anyway