Very simple question on tax forms for self employed?

Very simple question on tax forms for self employed?

Postby wedhappily on Fri Jun 24, 2011 8:13 pm

Hi everyone, I am in my second year of self employment (piano teacher) and I'm just sitting down to do my self assessment for the second time and need some help. I do not have any other job or source of income, apart from my piano teaching business.

1. I think I only need to fill in a SA100 2011 and a SA103 (self employment short). Is that correct?
2. I had a loss in my first year as I was just starting out. In my SA103, boxes 31 and 34, I recorded the 'Total loss to carry forward.' Am I correct to assume that I can bring this figure forward into this years return to offset my profits?
3. My husband cares for our severely disabled son and does not work. He only receives carers allowance and has no other source of income (no benefits, no employment of investment). Does he need to fill in an income tax return?

Kind regards and thanks in advance for the help, Maria :roll:
wedhappily
 
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Re: Very simple question on tax forms for self employed?

Postby marrow on Sat Jun 25, 2011 4:21 pm

1) Assuming no other income or reliefs to claim then this is correct. If you complete online the online service will direct you to the correct boxes/forms to complete

2) Any loss brought forward from your self employment last year can offset your self employment profits this year.

3) Your husband will only need to complete a tax return if HMRC have issued one - assuming they have not then he will not need a tax return
marrow
 
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