[jaykie]

As i only started in May, do I still have to fill out tax return, I personaly thought I did but after reading am a little confused, Is the tax return you guys doing nown April07 to April 08 hich would mean I dont need to do mine till Jan 31st 2010 for April 08 to April 09.

[jaykie]

See my accountant is going to charge me £30 a Month, this is so i can have appontments etc with no extra costs but wondering if its worth having this year or just wait till next year arrives.

[NWH]

You won`t pay Tax for the first 18 months at least but make sure you have enough to pay about 2 years worth because you have to pay on account aswell.

[jaykie]

So paying out just now isnt worth it i may aswel wait till May june to get accountant and make them work for there Money, ive got all recieptsthere marked and loged with what they paid for etc, bank statements,eyc

[jaykie]

You won`t pay Tax for the first 18 months at least but make sure you have enough to pay about 2 years worth because you have to pay on account aswell.

I keep 25% behind of what I earn

[NWH]

Get a business reserve account just for your tax money,everytime you pay in transfer money into the reserve account that way you will know it`s there for your tax when the time comes.

[NWH]

I would get an accountant from the start,at the start it will be cheaper and year on year when more work is involved the bill will increase but not so much that you would fall over.When you employ it goes up.

[jaykie]

So just to clarify I dont need to fill in tax return by 31st Jan 09 so im not going to get a £100 fine,

NWH off topic going to send you email tell me what you think i should do as recieved email off strainger, general public.

[HQCS (John Kastrian)]

Probably a silly question,but have you remembered to register with the tax office that you have started a business because you have to register within 3 months of starting up.
You will be liable for tax from May 08  when you started to 5th April 09,if you file online won't have to be submitted until end Jan 2010,but i wouldn't leave your first return to the last minute.
You will have to pay any tax due + 50% on account so be prepared.-John
 

[jaykie]

Probably a silly question,but have you remembered to register with the tax office that you have started a business because you have to register within 3 months of starting up.
You will be liable for tax from May 08  when you started to 5th April 09,if you file online won't have to be submitted until end Jan 2010,but i wouldn't leave your first return to the last minute.
You will have to pay any tax due + 50% on account so be prepared.-John
 

Cheers, yes I registered the day I started, and just recieved another national insurance payment request, I will sort accountan in the next few months, Also I know my tax will be extremely low as im probs about -10k till now.