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The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Childminder Self Assesment - change of accounting period
Post Info TOPIC: Childminder Self Assesment - change of accounting period
Plover


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Childminder Self Assesment - change of accounting period
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1st year of sole trading is Sept 13 to Aug 14.  Do I:

 

1) Prepare her return for 7 months (5/9/13 to 5/4/14) + P45 info for the tax year to April 14?

or

2) Submit P45 info only for Tax year April 14, and submit 12 month period Sept 13 to Aug 14 - for the tax year end April 15?

 

Is ther any overlap issues for point 1, any advice appreciated - as I cant see the wood for the trees today!

 



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Cheshire


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Hi
You mention sole trading but then go on to talk about P45s which are used for employees, so firstly best clarifying the position here.

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
RobH


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Prepare a short set of accounts to 5th April 2014 and avoid having any overlap issues, I always explain to clients that this tends to best otherwise they get taxed on the same profit twice and can't get relief on that until they cease trading or change their year end. I read the p45 issue as being employment before starting the business, in which case yes enter this information in the employment page.

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Rob
www.accounts-solutions.com
Plover


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The lady worked for part of the year before becoming self employed, this is why there is P45 info.

This is the first year of trading as a childminder.

 



-- Edited by Plover on Wednesday 17th of December 2014 10:49:26 AM

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