Getting confused with Tax!!!!

[Bexboo1]

:panic: I use a spreadsheet to record my income, expenses etc and it runs from April to March.

My last entry was Friday 29 March. I have now started a new spreadsheet commencing from Monday 1 April.

When I file my return do I put that my books are made up to 29 March? Or does it have to be 5th April?

If it does have to be 5th April it will really mess all the totals up as currently at the end of March I can print a summary sheet off showing earnings and income and everything.

What do you all do?

Some childminders have said I can put 29th March but others have said it has got be 5th April. Help please :panic:

[Allie]

Just asked hubbys accountant and he said ok to finish year on 29th march and start next year. He said tax man expects flutuation, no prob as long as next year starts without gap, so everything is declared eventually

[Bexboo1]

Thanks. Feel better now :laughing:

[Allie]

Oh and make sure you put the actual dates you use so it is clear what you are declaring

[Bexboo1]

Right so for this return it will be 2 April 2012 to 31 March 2013. Where do I declare this when do it online??

[MrAnchovy]

Just asked hubbys accountant and he said ok to finish year on 29th march and start next year. He said tax man expects flutuation, no prob as long as next year starts without gap, so everything is declared eventually

Actually this is not correct, currently you can only end on 30th March or 1st, 2nd, 3rd, 4th or 5th April.

[MrAnchovy]

Actually this is not correct, currently you can only end on 30th March or 1st, 2nd, 3rd, 4th or 5th April.

Oops, I meant currently you can only end on 31st March or 1st, 2nd, 3rd, 4th or 5th April.

[MrAnchovy]

Right so for this return it will be 2 April 2012 to 31 March 2013. Where do I declare this when do it online??

The start date must be the day after the end date of your last return so look that up to check. It is on the first or second screen of the online return.

[MrAnchovy]

Actually I don't think you put the start date on unless it is your first year of trading.

[Bexboo1]

Thanks for the advice everyone. I take it then I just put Sunday's date in as my working week is Monday-Friday so my accounts will always continue. So this year I end them on 31 March 2013 and my new accounts start 1 April so there is no gap???

[MrAnchovy]

Yes, exactly that.