• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

2012-2013 Self assessment ??

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    2012-2013 Self assessment ??

    Hi Guys,

    Hope someone will be able to guide me on my 'complicated' question on Tax affairs...

    Bit of background.....

    I formed a limited company in Feb 2013, But no transactions till Jan 2014 and company was declared as Dormat state till Jan 2014. I started trading from Jan 2014. I registered for PAYE and other HMRC stuff from Jan 2014. Till Jan 2014 I worked as Fixed term contract (PaYE) to another company and not used my limitted company for any service.

    In March I got 2012-13 self assessment form from HMRC (some how??). In that 2012-2013 duration I was basicallly on a Fixed term contract though I was also dircetor of a Ltd compant which never traded till Jan 2014.

    I can fill and include Tax details of my PAYE /Fixed term contract in the self assessment, but do I need to include any information on the dircteorship in the dormant company since company was not trading and it was dormant and nothing to show in account except money I pumpeded to pay monthly bank fees.

    Any help on this highly appreciated.

    Thanks
    Last edited by Darren_Test; 12 June 2014, 15:46.

    #2
    Just call them and explain, and they'll probably tell you not to bother with that year.
    ContractorUK Best Forum Adviser 2013

    Comment


      #3
      No need to include that you were a director of the company as you were not employed during 2012-13 by your company nor received any benefits.

      It'll just be employment income from your fixed term contract plus any other income such as bank interest, rental income etc if applicable.

      You do know it's late right and there's going to be penalties. As a suggestion, perhaps give HMRC a call on their self assessment helpline (put aside 30mins to 1hr for this) and explain exactly what you've posted here and see if they can cancel the requirement for you to do a 2012-13 return.

      Comment


        #4
        Originally posted by Craig@InTouch View Post
        You do know it's late right and there's going to be penalties.
        Could it be that in registering for PAYE with the new company the OP would have needed to declare from what date he was a director and this has triggered the SA retrospectively? In which case don't you get 3 months from receipt of the notice to file? Still, if the notice was received in March...

        I had the same thing and submitted the SA with a note in the additional info box declaring that I was a director but no moneys received from MyCo for the tax period. According to guidance I found somewhere on HMRC's site (which I can probably dig out) it doesn't need the employment details filled in if no moneys received but you should add a note to that effect. I agree it's worth calling HMRC if you have the stomach for it.

        Comment


          #5
          Thanks for the quick response guys..

          Let me see if I can get chance to talk to some one from HMRC. If not I will file that with information provided in above replies.

          Yes..I am still within that 3 month period, so I don't think there ill be any penalties as such for delayed SA. Thanks again guys.

          Comment

          Working...
          X