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Posted Mon, 13 Jun 2022 18:30:13 GMT by John Connelly
My Buisness was closed to due to the pandemic Im trying to restart my Buisness as its a coach company I started the company with no help from any and did not get any help as a sole trader when I tried for help from the government All my profit’s for 4 years which I have not claimed they were left as profits every year I’m asking how to show these profils, it didn’t explain on the self assessment how to forward profit I owe £261 due to a profit £9044.00 in 2000. I have listed the previous profits below which still shows on all my last 4 years assesment, I have emailed but no reply from the governmevt 2016-17 £302.00 2017-18. £686.00. 2018- 19 £9446.00. 2919-20. £3209.00 Average profit £3409.00 yearly Any help please
Posted Tue, 14 Jun 2022 08:17:24 GMT by HMRC Admin 17

Hi,
 
You cannot carry forward a profit to a later year..

The income declared is below the tax threshold but you may still have a charge for National Insurance and this is why you still owe £261.

For the last 4 year profit, if you are refrring to help under the SEISS system, this is now closed and it is too late to make a claim or a review  .

Thank you.
Posted Wed, 15 Jun 2022 10:32:55 GMT by John Connelly
No I’m trying to get the company restarted as it was shut due to the pandemic
Posted Wed, 15 Jun 2022 10:33:21 GMT by John Connelly
I got different info from the advisor
Posted Wed, 15 Jun 2022 14:44:29 GMT by HMRC Admin 17

Hi,
 
As long as your self assessment record has not been closed, you will just continue the same as prior to the pandemic .

Thank you.
Posted Wed, 15 Jun 2022 14:54:49 GMT by John Connelly
Thank you for your help

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