Thank you very much for your reply. I am now filling out the self assessment tax return, and have found out from the calculation summary that the payment is due January 2023. So if I submit the return now in august but will only pay in next January, would I keep receiving reminders in the meantime? Or should I submit the return nearer the payment due date? Thanks.
Thank you for your reply. I have a question on the consistency of the name format. When I applied for the NI number or registered for self assessment, I always submitted my full name.
And now i am filling in the self assessment tax return, I notice that on the first page of the return, my name was already given in the name box; however it’s in an initial format. When I check the name shown on my personal tax account, it’s in another format. Would there be a problem?
To illustrate with an example: my name is Jan Pam Ivy Smith. The name default shown on my tax return is J P Smith; but the name on my personal tax account shows Jan Smith.
Do I need to make them consistent? I’m not changing my name though. I just wonder if this difference in format matters. Thank you for your advice.
Thank you for your reply.
When I report my income in the tax return, if it’s an odd figure, do I need to round it up? For example, if my income in the year was £14697.68, should I report it as it is? Or should I report £14698 or £14697.70 etc? Thanks.
Having self employment as my only source of income, under what conditions can I claim the £1k trading allowance?
If I claim the trading allowance, can I also claim the capital allowance as I’ve bought a digital device for my business? Or the trading allowance and the capital allowance are mutually exclusive?
Thank you very much for your reply. As I am a freelancer giving online services to my clients, I regard myself a self employed person and should file a self assessment tax return.
Though I haven’t set up a company or done any business registration, your registration link to create an account for self employed still takes me to the business tax account.
I want to clarify if it is really ok to create this business tax account because some people say once I open a business tax account, I will be paying corporate tax! But I am only a freelancer and have not started a company formally. Why would I be paying corporate tax?
Grateful for your clarification.
Thank you very much for your advice. While applying for the Government gateway number, there’s a page asking for identity verification, apart from my passport, it requires one more item, such as p60, driving licence or credit card.
As I’m a self employed person, I don’t have any p60 (I guess it’s something to do with previous employment? I don’t have it), I don’t have any driving licence or credit card either.
Can i key in my debit card instead?
It does mention a phone contract, which I do have one but that’s not a very formal one, like the phone company just indicated on the customer login page when my present contract expires. But I can remember when it started.
Grateful for your advice! 🙏🏻
Thank you for your reply. As I’m delivering online services to my clients, I wonder if I can claim my mobile data expense as an expenditure in filling out the self assessment tax return. However, the mobile data is not just serving my business purpose, it’s also serving the purpose of my personal usage. In that case, what should I do? Thank you in advance.
Thank you for your reply!
In the self assessment tax return form, there seems to be a question asking if I have foreign income. My case is that I am working in U.K. giving online services to my clients. Some clients are overseas and don’t have a U.K. bank account to pay me, so they pay to my overseas bank account in a foreign currency, then I converted their foreign currency into sterling pounds and deposited back into my U.K. bank account.
In this case, how should I answer the question about foreign income in the self assessment tax return? Is this regarded as foreign income? As I said, I’m all the while working and giving my service in U.K. but some clients just don’t have sterling pound account to pay me.
Thanks in advance for your advice.
Thank you for your reply. So after I open the business tax account and file the self assessment tax return there, how would I be able to claim the personal allowance ? will my personal allowance apply automatically in the tax calculation system there? Or do I need to apply for it somewhere ?
I would like to register for self assessment as i am self employed, but the link always takes me to a business tax account. However, I haven’t started any company but just working freelance on a personal basis. So can I register a personal tax account instead of a business one? How? The self employed link seems not giving me this choice at all!