I'm new to all this! help!

[ttt]

I have been working self employed for almost 1 year now. I started in September 04 and at the end of september 05 I will become a student again while doing a couple of days a month work, still self employed. I haven't filled in any tax forms yet but does anyone know if I can do it for the year I have worked, or do I have to split it April to April?

Thanks for any help and tips!

[deanshepherd]

Although you may prepare a set of accounts for the year you have worked, your income will be split into tax years.

Choosing an appropriate accounting period for your circumstances can affect the amount of tax you will have to pay so I would recommend seeking professional advice on this matter.

I have a free business start-up guide which contains a lot of useful information about registering with the Inland Revenue and paying tax. Drop me an email if you would like me to send you a copy.


Dean Shepherd
dean.shepherd@mmi-online.co.uk
MMI Accountancy
www.mmi-online.co.uk

[King_Maker]

Have you read these earlier queries on the same subject?

# 8120

# 8022