When do we pay tax?

[dottylotty]

Hello I became a childminder in October & became self employed. I think I have registered as becoming self employed but when do I tell them what I am earning & expenses?

Thanks

[Kiddleywinks]

The current tax year ends on April 5th, you will receive a tax return shortly after (may time ish) which you complete with your accounting figures no later than 31 Jan 2015
You can of course complete before then, but January is the deadline.

Are you paying NI Class 2 contributions? If you are, you'll be registered as self employed, if not then you need to double check with your local tax office that you are indeed registered as Self Employed

[tulip0803]

Just to add - if you are doing your return online you have until end Jan 2015 (you need to register on-line at Government Gateway and wait for pass codes) to submit. If you want to fill in a paper return you need to return it by end Oct 2014 but have until end Jan 2015 to pay anything owed.

[Chatterbox Childcare]

When running your tax year I propose that you do it from the date you started until 31st March each year. Most people finish their accounts at the end of each month and if you do it by these dates you won't have to do any amendments with prepayments and accruals