dawnn93
15-01-2013, 10:17 PM
I started childminding in July 2012 do I need to do a self assessment?
Kiddleywinks
16-01-2013, 08:14 AM
Yes you will, but not right now
The one everyone's panicking about that has to be in at the end of the month is for 2011 - 2012.
We (and you) are currently on 2012 -2013
The tax year runs from 6 April of one year to 5th April of the next
At the end of the tax year, you get an allowance of time to get that years accounts up to date, and then to fill in the self assessment with the figures from your accounts and inform HMRC with it so it can be determined if you are required to pay tax or not.
The maximum deadline is January 31st, so 9 months from the end of the tax year, hence most people panic as accounts are the worst part of the job and tend to get left till the last minute
Have you registered with HMRC yet? They will send you notice after April each year about doing your Self Assessment (SA)