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Self assessment

Sun 15 Apr 2012 02:34 PM

Shirl50

Member CB.Dip PM.Dip
Practice Licence

14 posts

Hiya

My son has a Personal Training business which he does in his spare time (He is also in full employment) He has registered with HMRC for self assessment. Which forms should he be filling in? The SA100 or the 103? He also started his business 1st November 2011 should he wait for his end of year figures to do his self assessment? How does this affect the self assessment process?

I am working on doing my self assessment exam so this would help me as well as give him the right information.

Any help gratefully appreciated.

______________________

Kind regards,

Shirley

Sun 15 Apr 2012 02:47 PM

Mad Liz

Fellow
Practice Licence

107 posts

Hi Shirley.

The SA100 is the general form which needs to be completed in any case. Your son will also need to complete the SA102 (giving details of his employment) and SA103 (giving details of his self employment).

Hope that helps.

Liz

______________________
Let us do the maths!

Sun 15 Apr 2012 02:51 PM

Rosemary

Associate CB.Cert
Practice Licence

41 posts

Hi,

Your son will need to complete both. The SA100 is the main tax return form and the SA103 is the supplementary short pages in respect of self employed income, where your turnover is below £73,000.

As your sons business started on the 1 November 2011, your son will be required to make a return of his profits for the 2011/2012 tax year, for the period from the date his business started to the 5 April 2012.

I hope this helps!

Rosemary

Sun 15 Apr 2012 03:14 PM

Shirl50

Member CB.Dip PM.Dip
Practice Licence

14 posts

Many thanks to you both. This should help him a lot and me too.

______________________

Kind regards,

Shirley

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