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Goddard
9th January 2012, 21:12
Hi,
This is my first year contracting and have my first self assessment to complete by 31st January....apparently.

I didn't think I needed to complete a return this year as my ltd company did not start Trading or invoicing until the end of April 2011. The company however was registered on 29th March putting it in the 2010/11 tax year. Do I need to complete a nil return for this or can I get away with not doing one?

Thanks in advance

Nev

Waldorf
9th January 2012, 22:21
Try here:

HM Revenue & Customs: Do you need to complete a tax return? (http://www.hmrc.gov.uk/sa/need-tax-return.htm)

I think it depends on what income you had in 2010/11 - if any was untaxed then you will need to complete a return :(

gingerjedi
9th January 2012, 22:27
Just did mine this evening, also noticed I did it slightly wrong (in my favour) last year, what are the chances being caught??

AtW
9th January 2012, 22:28
I was doing mine this evening too but found out they don't have enough space for end of year profits. :mad

DimPrawn

xoggoth
9th January 2012, 23:16
If you haven't been asked to complete one AND no tax is due then you don't need to complete one. Guidance on HMRC site is not correct. (Too late to register now anyway!)

Tax returns for directors | AccountingWEB (http://www.accountingweb.co.uk/anyanswers/question/tax-returns-directors)
Self-assessment | AccountingWEB (http://www.accountingweb.co.uk/anyanswers/question/self-assessment-0#comment-521843)

Contreras
10th January 2012, 00:43
The company however was registered on 29th March putting it in the 2010/11 tax year. Do I need to complete a nil return for this or can I get away with not doing one?

Yes, as a company director you need to file a self assessment return regardless of whether you received any benefit. Although as discussed here recently (http://forums.contractoruk.com/accounting-legal/74137-director-question-self-assessment-tax-return.html) you shouldn't need to complete the employment section for your company. Bit of a nonsense really if that's the only reason you needed to file a return but it's the way it is.

Edit: ack, sorry... should have read the full thread properly. Interesting info xoggoth.

In my case HMRC sent a Notice to file a SA return shortly after I registered for PAYE and submitted my P46, well after company startup. The notice was retrospective for the year which should already have been submitted and given 3 months to file from the date of the notice.

Goddard
10th January 2012, 09:16
Thanks for the info all.

Just managed to get through to HMRC after 2 days of trying and they confirmed that it is the date you were registered as a Director that counts, not when the company was formed. Luckily this was within this tax year so happy days. :happy

Nev