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  • First timer filing self employed taxes

    Hi, I'm stressing about all these bits while filing, because some of the language and terms seems so foreign and I just dont understand it. And I dont have anyone to help. I walk dogs for two sisters who own the dog walking company. Its an LTD. They pay me weekly for the dogs that I've walked. But I'm self employed. As in offering my dog walking services to them. So theres the bit where it asks if I've made over 85K in the tax year. And I definitely havent. So then it gives me all these options to tick. And I dont know if I should tick this.. >>I provide my services under contracts for professional or other services and these contracts span my accounting date Help about: Self Employed short 09 - Services under contracts If you're carrying on a trade, profession or vocation and have received income from contracts for professional or other services then you will need to change the way in which you calculate turnover in your accounts. This is because there has been a change in the accounting guidance on service contracts for accounting periods ending on or after 22 June 2005. This guidance, issued by the Accounting Standards Board, is called Urgent Issues Task Force Abstract 40 (UITF 40). Select this box if you provide services under contracts for professional or other services. or None of These Apply (because this explanation sounds weird to me as well) None of these apply >>>Help about: Self Employed short 15 - None Of These Apply If you have chosen to complete the self employment section as ‘none of these apply’ please check the box and continue. If you have chosen to complete the self-employment section because: you expect your turnover to exceed £1,000 in the next year, only complete the sections 'Details for your business', 'Accounting details for your business' and 'Date your books or accounts are made up to' you want to preserve your record of self-employment, for example to support an application for Maternity Allowance you will need to complete the sections 'Details for your business', 'Accounting details for your business' and 'Date your books or accounts are made up to' you would like to claim Tax Free Childcare based on your self-employment income you will need to complete the sections 'Details for your business', Accounting details for your business', 'Trading income allowance' field and 'Income for your business' Please help. Losing sleep over this because it stresses me out. Is there possibly a service I could use to get more help? All I really have is the amount of money that I've gotten from the dog walking and a few expenses. :( Thank you in advance, Sonia
  • filing taxes for the first time with self employment and UC

    Hiya, I'm doing taxes for the first time in April and I'm a bit confused. I'm self employed and during about 6mo of the pandemic I was also on Universal Credit. I've calculated my earnings from self employment but do I need to include what I got from Universal Credit as well? Because when I look at what they've paid me they've already deducted things from it. I don't want to pay tax twice. Hence the question :) Thank you in advance. PS. So nervous i'm gona file my taxes wrong :(