Self-assessment

Apart from getting your PIN, it's a breeze. Apply for your PIN ASAP (and don't lose it!)

Just fill in the SE part of the form (and all the rest, of course) with the appropriate numbers. IIRC all you should need to include is "total income" and "total expenses". The SA form doesn't require to provide any detail. You do, of course, need to keep all that detail at home (for 7 years) should the return be audited.

tim

It's probably ok. I've used it for a number of years - but I don't have business expenses - so can't say for sure how it deals with these.

I haven't tried this year yet, but it usually starts by getting you to identify all the types of income etc. which apply so that it knows which 'pages' you need to complete. It will tell you if the HMRC-provided version is unable to cater for your particular circumstances - in which case it will point you are various commercial software packages which you can use instead - still online.

Thanks both for the prompt and helpful replies.

I DID wonder about the whole expenses thing and how do you justify it online.

I've kept a "from-to-mileage start-mileage end" spreadsheet for the mileage claim and have all my car parking receipts together with the invoice I sent the firm I was working for.

Is there a best time to complete it online? I think I have until January 2012, get it done and dusted as soon as I have my P60 or wait?

Assuming the same as last year, you need to submit by the end of December if you want adjustments to be made by means of a PAYE code.

Thanks both for the prompt and helpful replies.

I DID wonder about the whole expenses thing and how do you justify it online.

I've kept a "from-to-mileage start-mileage end" spreadsheet for the mileage claim and have all my car parking receipts together with the invoice I sent the firm I was working for.

Is there a best time to complete it online? I think I have until January 2012, get it done and dusted as soon as I have my P60 or wait?

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As soon as you can.

It lets you save what you have done, so you can start today and fill in the rest when you have the details.

You can also edit the data later, so you can put in some pretend figures to see what the result is and then fill in the correct figures when you have them.

Just don't "send" the made up figures prematurely:-(

tim

It's best to do it ASAP, as soon as you have the figures available - then you don't have to worry about it.

Also, if *they* owe *you* money, you'll get it straight away. [If you own them money, you won't have to pay it until next January, even if you do the return now].

That used to be the case for turnover below £15000. Above that, much fuller details are needed of expenses. (And there are also capital allowances that can be claimed, although I can't remember if those figures can just be added in to expenses, if the turnover is below the threshold.)

The latest self-assessment form for the self-employed says you can use summary figures as long as your turnover is below £70k. And you get to put your capital allowances on top of that.

Reece