guest started this topic @ 19:55 on 13/03/2003
Hi everyone
I am about to register as self employed as my website is earning an increasing amount of money. I will stay as a full time employee with another company though - not quite making enough to retire on yet!!
Having contacted a few accountants, I am being quoted the following kind of fees:
£60 plus VAT for set up cots, including registering as self employed with the relevant agencies, preparing engagement letters as a new client and setting up on the system.
£300 plus VAT For each tax year to date. This fee covers the
accounts, business tax comps and the self assessment tax return.
I started the website in 2000, buying the domain name and PC in the 1999-2000 tax year. No revenue was made in this period. Do I still need to file a tax return for that year?
Otherwise it would just be for 2000-2001, and 2001-2002 when the site actually generated money. I was working as full time employee with another company whilst running the site, it is simply a case of a hobby making an increasing amount of money and now I want to get things above board!
Also are filing the self assessment forms so difficult I have to expect to pay over 300 pounds for an accountant to help?!
Any advice would be appreciated.