suag123
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Stopping self-assessment
Hi there, I have stopped self employment as a sole trader for 23/24 I have submitted by self assessment etc and notified HMRC on the phone too. I have several questions Q1: "If your business started after 5 April 2023 and If your business ceased before 6 April 2024, enter the final date of trading So I ended self employment as a sole trader in March 2024", so I fit in this time frame, is it correct if I put my final date here as a sole trader or is this just for businesses? Q2:There was also a section in the assessment that allowed you to changed "self employment periods" the start date was defaulted at "continuing from the previous year" and I was able to change the end date to "march 2024" - did i do this correctly if want to state I stopped self employment on this date, or is this for something else entirely? How does this section differ to the section in my Q1 above? Q3: I noticed I have a business tax account, I never signed up for this, I am only self employed, I don't think I noticed this on my account in my previous returns, what is this for? Q4: Once I submitted my assessment and saw my tax calculation, I noticed it was asking for a first payment for 2024-2025, why does this appear if I stopped self employment in March 2024? im only a sole trader not a business thank you