Self Assesment

[miketempest]

Hello all,

So I set up my limited company yesterday, do I have to submit a self assessment by the 31st October if the company has only been formed for two weeks?

Thanks in advance
Mike

[Clare@InTouch]

Hello all,

So I set up my limited company yesterday, do I have to submit a self assessment by the 31st October if the company has only been formed for two weeks?

Thanks in advance
Mike

Not because of this new company, no. This is the tax year ending on 05/04/2014 so your first tax return will cover 06/04/2013 to 05/04/2014 and be due by 31/01/2015. The October filing deadline only applies to paper returns, filing online gives you extra time.

Unless of course you had any other reason to file a tax return for the year to 05/04/2013, such as:

Child benefit and an income over £50k
You were a director of another company
You had rental income, capital gains/losses, foreign income or any other income that needed to be declared
You earned over £100k

More from HMRC on if you need a tax return here: http://www.hmrc.gov.uk/sa/need-tax-return.htm

[miketempest]

Thank you!