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Tax Insider Tip: Save Work By Completing The Short Return

29th Jun 2016
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If your self-employment turnover is less than the VAT registration threshold (£81,000 for 2014/15; £82,000 for 2015/16) then there is no need to go to the trouble and expense of completing the full Self-Employment Supplementary pages (SA103F) and detailing all your expenses.

Instead you can complete the short Self-Employment Supplementary pages (SA103S; available on the GOV.UK website at www.gov.uk/government/publications/self-assessment-self-employment-short...) which is only two pages long and save time by entering total expenses in box 19 rather than providing details of specific expenses.

Turnover Less Than The VAT Threshold? Complete These Pages…
Bill sets up in self-employment and commences to trade on 6 April 2014.

His total turnover is £20,000 to 31 March 2015 and hence he can save time and money by only completing the short self-employment pages (SA103S) rather than the full return.

101 Ultimate Tax Secrets Revealed' TodayThis is a sample tip taken from our 136 page guide:

101 Ultimate Tax Strategies Revealed

Click here to receive a free copy of this tax saving guide today!

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