author-michael

I'm afraid this isn't very helpful. I wrote in Sept 2023 and the tool says I should have had a reply in February 2024. It is now September 2024 and I've not even had an acknowledgement of my original letter or follow ups.

I wrote to HMRC last year as I belatedly realised I'd failed to declare income from a discretionary trust on my 2021-22 return. I never had a reply. However, this income was already taxed at 45% as it came from a discretionary trust. In spite of speaking today with both the Trusts department and the Self Assessment team and being on the phone for over 3hrs no one could help or update on why my letter has not been responded to. A search of your website would suggest I need to amend my 2021-22 SA return to include an SA107 with the trust income and that I should also submit an R40 to claim repayment for tax deducted. However, the advice also suggests I should submit a paper SA100 with 'amended' on each page to indicate the change. (If my letter had been replied to or I'd been advised correctly I could have updated the 2021-22 SA online but no longer can). Can you advise if the above is correct and if so whether the SA100, SA107 and R40 should all be sent to the Self Assessment address? If not, where should I send them?

Do I also need to submit anything or amend my 2022/3 return to take account of the change in profit as a result of averaging? Or will my tax account reflect that automatically?

Many thanks for your help with this. I've followed your advice and successfully setting up the averaging on my 2023-4 SA return. However, I'm getting a red-warning alert on the 'Other tax adjustments' page of my return. I think this is due to my having a loss, of around 4000, from the previous year that I'm bringing forward to offset against profit this year. Presumably that loss is wiped out by the retrospective averaging of my profit to the previous year. Is that the issue? I want to be able to take account of the loss in either last year's (adjusted) averaged profit or this year's. What do I need to do?

Thank you. I just want to be sure that selecting the turnover over 86000 to do the averaging won’t result in HMRC chasing me for VAT in some way even though I’m not liable for it?

Many thanks for your reply. I am not currently subject to VAT. However, having done as you suggest above it asks for more detailed expenses on the basis I am subject to VAT (due to selecting the turnover being over £86k, even though when I input my turnover it is around £25k). I just want to check, in the final calculation of my self employment income, HMRC/Self-Assessment will not subject me to VAT will it?

I am a writer and in previous years have done my SA tax return online. However, I can't see any option on the self employed pages for this year's return to take advantage of authors averaging, having sold my first novel last year. Is this possible to set up online? Or will I have to send a paper return?