Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Tue, 28 Feb 2023 18:57:20 GMT by Donna Findlay
I teach but used to do some writing on the side for a magazine. In the year 21-22 I thought I’d earned £900 so wasn’t going to file a return. However on Jan 30th had a panic and looked at the amount that had gone in bank and it was £1095 so filed and now paying £ 200 tax. However on looking back, £196 of that was a late payment from previous tax year. Called HMRC (two times as first time an hour was cut off but today got through after an hour again) and a lady said as I’d filed it that was it and also it was right as it’s how much money goes into bank. Is this right as she sounded very confused and unsure but said that’s it and to call in unsure in future??
Posted Wed, 01 Mar 2023 15:26:19 GMT by HMRC Admin 25
Hi Donna Findlay,

There are two ways to maintain self employment records.
You can use standard accounting practice, where you record income and expenses by the date you invoice clients or were billed.

Business records if you're self-employed

Or by using the cash basis, where you declare money when it comes in or goes out of your business.

Cash basis
The cash basis, has limitations and does not suit all businesses.

 Certain types of business are not permitted to use it.

You will need to check whether you declared on your tax return which method you used and whether the profit declared, is based on the appropriate method of recording.

 You are able to amend tax returns for up to two years after the due date of the tax return in question and in writing, requesting overpayment relief for the two tax years prior to them.

SACM12150 - Overpayment relief: Form of claims

Thank you. 

Posted Thu, 02 Mar 2023 13:52:07 GMT by Donna Findlay
Thank you. How can I amend?
Posted Mon, 06 Mar 2023 14:18:37 GMT by HMRC Admin 2

If you filed online, you can go back into your account and amend the figures.

If you filed by paper, you will need to write in with the details.

Thank you.

You must be signed in to post in this forum.