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Post Info TOPIC: Advice for new client


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Advice for new client
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Please could someone advise

I have just taken on a new client who started some self employed work in January 2015 and also purchased some equipment and supplies then too she has decided to set up to work from home and registered as self employed earlier this year, obviously her books from Apr '15 - Apr '16 will be submitted in her current tax return due but my dilemma is how do I account for earnings and purchases made between Jan '15 -  April '15? She is also in full time employment at present.

I hope this makes sense.

Thanks

Jill



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Master Book-keeper

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Hi Jill
One suggestion (devils advocate?) - if she started in January 15, why not have her year end to January 16?

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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



Master Book-keeper

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I got caught out doing that Joanne.  Client started trading on 2nd April, so I did her first return 1st April - 31st March.  HMRC fined her £100 and told me a return should have been submitted for the 2nd April to 5th April, and refused the appeal against penalties.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.

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