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 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.