Tax return Question

[Jemima77]

Hello
I am going to do my tax return online this weekend and was wondering how I worked out my figures....I have been using the NCMA accounts book so am hoping it will be quite straight forward but I started CM in September 2008 and this will be my first Tax return. Do I include all my figures or those just from April 09 to present???????Confused! Also does it take a long time to do?
After expenses taken off I generally seem to make a profit of £500 will this mean a big tax bill? Sorry for all the questions I am dreading doing it xxxxxx

[Straws]

If you started in sept 2008, you will add up your expenses and expenditure from sept 2008 to april 5th 2009 this is the tax year you will be submitting accounts for.

example income £8,000
expenditure £4,400
the profit would be £3600
you wont pay any tax once you have decuted your personal allowance of £6035

Hope this makes sense

Straws xx

[Chatterbox Childcare]

I agree that you can do your accounts in line with Straws and then it would be the same as the ir tax year but if you have run them from Sept 08 to Aug 09 contaact the IR and they will advise you on how to go about doing a different tax year

You shouldn't be making a profit on your first year. PM me if you want help with details but I am away now until Sunday.