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Post Info TOPIC: Self employed, making a loss, no tax return?
Alys


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Self employed, making a loss, no tax return?
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Hi,

Are there any circumstances where someone who is self employed would not have to file a tax return? I have been told that someone who has been trading for years but never makes a profit does not send in a tax return because he has never been asked for one even though HMRC know that he is self employed. Is this possible or is he mistaken?

Thanks

Alys



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Alys

Alys Stuart, Stuart Nicholls Accountancy Services, Preston, Lancashire.
Cheshire


Master Book-keeper

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Never been asked, or has the post gone astray? Sounds a bit odd that one. Does he get NI class 2 bill or has he completed the form to advise his profits are below the threshold? Has he got a UTR? Can you view his account online? I suspect he has never actually registered and has dropped between the cracks. Wonder what he is living off.

__________________

 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
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