S/T registered as self employed later 2018. Commenced trading early 2019. Ceased trading May 2019. Obviously spans 2 tax years. Has been put into SA (obviously) by HMRC and nudged for tax return given deadline imminent.
T/o pretty minimal, from verbal could even be below £1000 so could utilise full Trading allowance so tax take = nil. But need to verify.
What are the chances at this stage of having the requirement to complete a SA withdrawn for both years? What is best way to achieve this - just a call? Individual has not told HMRC no longer S/e so can be achieved at same time?
Other alternative is to complete showing full income/expenditure which is expected to show a loss that is un-relievable.
From what I can ascertain no need for Class 2 NI to be 'paid' to build up entitlement (but need to double check).
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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
Can't see the harm in trying. I've had one rescinded where the final turnover was under the trading allowance and I just didn't see the point in submitting it. HMRC agreed with me.
If you do the 64/8 now it should be back before Christmas.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
I have always found HMRC very reasonable with this sort of issue. I did one last week regarding the £1000 threshold and the current Return was cancelled without a problem.
Log onto your HMRC Account and get authorised online quicker.
BW
Jay
-- Edited by Jay on Sunday 8th of December 2019 03:00:54 PM
Thank you boys. Thought it might be out of time for a 64-8 given the snail mail process.
Did you get yours sorted with just an online authorisation Jay? Reckon you just landed lucky with the call handler as they dont like talking when its only an online auth. What phone number did you use?
Thanks again.
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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
There should be no difference to HMRC's response to a 64-8 or an online authorisation. I cannot remember the last time I sent a 64-8. You may have just been unlucky.
I use the Agent helpline 0300 200 3311 open until 8:00pm.
Hi Jay
Im always unlucky. Cannot tell you the number of times Ive had 'we havent got a 64-8 so we cannot talk to you!' despite having online agent authority (for other taxes as well!). To the point where I just got the written forms all signed and sent off, so just missing now for recent takes ons.
Thanks for the info, including the phone number. Thats the one I use, was wondering if I might be missing a trick!
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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
I have just checked the HMRC guidance and it states that :
If you act as a tax agent or adviser, you must have formal authorisation to deal with HM Revenue and Customs (HMRC) on your clients behalf.
Its easiest to do this online using HMRC Online Services. If you cant set up authorisation online, you will need to get your client to complete one of HMRCs paper authorisation forms.
I read this as suggesting they want online authorisation and only suggest 64-8 etc if this is not possible.
BW
Jay
-- Edited by Jay on Monday 9th of December 2019 07:01:30 PM
When I said 64/8 I meant online authorisation, sorry. The only time I've done a manual 64/8 was when I took on a property client last year, and I couldn't do it online. It took weeks.
I've never had an issue with cancelling a return, and I must have done 3 or 4 now.
You have been unlucky with the helplines, usually find the handlers helpful and never been told I need a manual 64/8. I would ask to speak to someone higher if it happens again.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Not seen the figures yet - keep your fingers crossed! Online applied for, but have 62-8 as my backup plan, although I will be quoting their own website back at them first (thanks Jay).
Maybe HMRC are monitoring my messages on here after all! Or maybe its cos I keep giving that pal of mine, who works for them, some grief and my name is now black-listed!
__________________
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
