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Quarterly tax returns are a thing if you pay VAT. Technically you should of been declaring that self employed income regardless of its total, it's not separate
by addedlovely 10y ago
Quarterly tax returns are a thing if you pay VAT.
Technically you should of been declaring that self employed income regardless of its total, it's not separate from your main income, in terms of tax liability - I believe it's combined with your main income.
- hellofunk 10y agoMany file VAT only once per year, depending on various factors. Quarterly is not necessarily the default option.
- jstanley 10y agoYou're right, it is combined with your main income for tax threshold purposes, but I don't think HMRC would begrudge me a couple of hundred quid. It would probably cost them more than that to pursue it, or to even calculate the amount.