Tax return help for PAYE employee who's also sole trader.

M

moiramac

Guest
Hi all
I am a PAYE employee. I set up a web-based business last year that really didn't get off the ground. I decided to sell equipment just as the rules were changing so my target customers no longer wanted the goods. Typical but never mind and lessons learned.
Anyway, I am trying to fill in my 2008 tax return and I just wanted confirmation that I'm completing it correctly. I am filling in form 12 (Employees, Pensioners and non-proprietary directors).
1- is this the correct form?
2- if incorrect which one should I fill in?
3- I can't find info about pension payments on p60. This is where I was told that I could find it. (HSE pension)

I am a bit worried because the deadline is looming. I won't have any tax to pay- I made a loss of around 600 euro and never drew wages. I'm just a bit worried about not getting the correct form in on time and being fined.

Thanking you all in advance.
 
You need to prepare a set of accounts for your business activities - even if you made a loss. You can set a loss against your other income in the year.
Don't forget to claim capital allowances on your equipment.
You should complete a Form 11 tax return.
Your P60 shoudl show gross pay xxxxx
and then gross taxable pay xxxxx
The difference should be your pension contributions
 
Thanks Domo. That seems ok but now I find that I can't register for ROS without having registered the business for tax.