Registering for Self Assessment - Previous years
I am acting on behalf of a new client who has accumulated a couple of UK properties and now wishes to register with HMRC
for tax purposes .
The issue is that the first property was purchased in 2008/09 and since a couple more have been purchased in the period 2009/10
to 2011/12 .
Although I have not seen the books in detail the client has assured me they have not accumulated any substantial profits in this period
ie initial cost of improving the properties , letting agency fees and mortgage interest payments have negated any taxable profits .
My question is this , on registration , do they register say from today and when the time comes submit a return for 2012/13 only ( providing
there is no tax liablity for previous years ) or when submitting the first return do I need to aggregate 5 years ( assuming a 2008/09 to
2012/13 period ) .
- Gave wrong info to client about tax due 461 17
- Gov.UK = NOT OK! 46 2
- Will I need to resign? 68 1
- Paper tax return 83 3
- Start up allowance? 335 11
- Invest in ''buy to let'' property 1,329 41
- Penalty for late PAYE registration? 227 3
- Fines for filing 12 months of FPS on one submission 159 1
- AIA or IFA 422 7
- Surely not? 419 10
- Batch input of data to Xero - is there an app? 623 9
- Running two businesses from the same premises 356 3
- Working out private usage for a Taxi Driver? 348 7
- Late Registration for VAT 348 11
- Old CGT loss 169 2
- When do consolidated/group accounts needs preparing? 260 5
- Nominal Ledger 342 10
- Share structures 139 5
- It’s our staff Christmas party this week, what did you do for your firm? 2,150 19
- Meal Allowance - Limited Company 340 5