Self Assessment tax returns

Eeeek, been making sure things are up to date for this year (our first full year returns)
Few basic questions id rather ask here than trawl the net or .gov site for for hours to gain benefits of your experience. :smile:
1.) When is the deadline
2.) Do we carry forward any loss from previous year for it?

Thats it for now, thanks in advance all

The deadline for the online is the last date in January but if you’ve not signed up to do online you must do it asap as it takes 7days to get your online account set up with your access coding thingie that arrives via Royal Mail. Without it you can’t get into your new account to fill in your online form.

I have an online account as we set it up last year for the 2013/2014 tax return. I am surprised the deadline is so early or is that due to maybe you assuming we needed to register etc?
I was under the impression that once you had done first years you get notification reminding you to do it for next year…something which we have not yet had i am just making sure everything is all sorted in advance.

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one year they sent me a reminder but I don’t think I got one last year and not had one this year either.

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I had a couple of reminders by email earlier this month.

Sorry to jump in on this conversation- but it is related! Haha so I registered for the first time in April 2015. I registered for online and as yet have not had any reminders.
My husband seems to think I won’t be required to do anything until next tax year.
Any ideas anyone?

The deadline for the 2014/15 tax year is 31st January 2016, so you still have a couple of weeks, but the website can get a bit busy at the end of the month, so the sooner the better. I’ve been completing self-assessments for about 6 years now and have never received any reminders. It’s up to you to know when the deadlines are and then meet them - don’t rely on HMRC telling you!

@curiousseagull - if you didn’t start trading until April 2015 you won’t have to complete anything for the 2014/15 tax year. Your first return will be for 2015/16, which will be due by 31st January 2017 (for online submission). If you started trading before April 2015 (even if you weren’t registered) you will need to complete a tax return for 2014/15 by the end of this month.

@PaulsJewels - you can carry forward tax losses in the same business and offset them against profits in subsequent years, but only if they haven’t already been offset against other income, such as employment income. The notes on the HMRC website explain when/how you can utilise losses.

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Thank you. :blush: this may explain why I haven’t had any reminders- I know a few friends get them.

Oh well- never mind. I have all my paperwork in order so it’s all good.

Thank you.

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Just found a button on their site to sign up for reminders. Clicked it and the website said no and crashed… dont know why i find that funny but i do.

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Have to admit I’ve never got around to registering my tax return online, and I’ve been self employed for 16 years! I still fill in a paper return so my deadline is the end of September (I think, or maybe October) I like it that way because then if I miss the deadline I always have the option to register online - never needed to yet though :slight_smile:

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Last year I confused my tax credits return in August with the self assessment return, and spent the last five months of the year feeling smug for being ahead of the game.
Then the self assessment reminder emails started arriving. I ignored the first two as I thought they were spam, but when the 3rd one arrived on 30th January it suddenly occured to me to check, and I immediately went into a blind panic!
Luckily, the online form is extremely straight forward and self corrects as you go.
And this year I submitted it at the end of September :smile:

I would advise anyone to sign up for the email reminders as it is so easy to overlook the self assessment return, until the fines start rolling in.

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I wondered why I didn’t get a reminder but 31st January is always at the back of my mind and the 1st of January time to start panicking!

Mine are all done just need to submit my figures which will be done before the deadline.

I do mine online, and try to complete it as soon as possible after 5th April, I then you can sit back and forget about it, but sending my tax return in prompts me to start my next tax year records. I did have to ring the tax office a couple of years ago because I had a query, they were very helpful, and I did seem to get through quickly, but I rang at (I think) 8 a.m.

I tried that but never got the paper form so in the end I was so scared I’d not be able to do mine in time the first year I ended up signing up for doing it online.

They want us all to do it online I think that’s why they sometime cough cough forget to send out the paper form when you ask for it. grrrrrr.

I far prefer online as it self corrects as you go/reminds you if you’ve missed a section/reprimands you if you fill in the wrong section.

The part I don’t like is the passwords - I’m usually locked out!

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