Business Clinic: Help with your Self Assessment Tax Return

Digital Events , Workshops and Learning
Friday 22 January 2021 - Monday 25 January 2021

Online Artist Tax Return Sit Ins
FREE Zooms

Friday 22 January, 11am

This event is funded by ERDF as part of The Big House programme.

If you wish to attend The Big House session...

As Friday's session is part of a European Regional Development Fund (ERDF) initiative, you will be required you to be enrolled in The Big House programme. If you are not already enrolled, you will find the appropriate form at: https://bighouse.org.uk/enrolment-forms.

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Monday 25 January, 6pm

This event is funded by Arts Council England as part of the In Good Company programme. 

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About The Session

Join one of our online special self-assessment tax return clinics for freelancers and small business owners.

Are you: a freelancer or small business owner? Nervous about the 31st January tax return deadline? Having trouble getting down to it? Not sure how to do it?

If the answer to any of these questions is “yes” then please join us for this informal self-assessment clinic especially for small business owners and freelancers.

We will be highlighting specific sections and answering your questions to guide you through the process. You can both ask questions and hear the questions and answers of others.

No question is too silly! We will be tackling everything from:

- What does this mean?

- What do I need to prepare?

- Some pitfalls to watch out for.

- What do I do if I'm both employed, and self-employed?

I don’t promise to know every single answer, but I've been doing tax returns a long time & know a fair bit as well as being a business adviser! I will also be encouraging others to share their tips and knowledge, so bring your top tips along too. This clinic aims to help as much as we can, but I will refer you on if you need a specialist.

It would be helpful if you could email as many of your questions in advance to myself, Emma Torrance at emma@thinkinng.org. We will be grouping questions under the following headings:

1) What do I need to prepare & how much detail or evidence do I need?

2) Logging on and signing in

3) Completing the checklist to tailor your return

4) Filling in your return (employment, self-employment, NI, interest etc)

5) Terminology - what does this mean?

6) Paying the tax

Before the Session:

You need to set up as a sole trader with HMRC if you have earned more than £1,000 from self-employment between 6 April 2019 and 5 April 2020.

To do this you need to register for self assessment and you will need to file a tax return every year by 31 January.

If you have not filed a return online before...

1) Register online. Once you’ve completed the questions, HMRC will create your account.

2) You’ll receive a letter with your Unique Taxpayer Reference (UTR) number within 10 days (So you need to register as soon as possible to allow time for this to arrive before the tax return deadline of 31st Jan. You’ll need your UTR to file a return.

3) You’ll then receive another letter with an activation code for your account. You can get a new activation code if you do not receive it or you lose it.

Who is running this session?

My name is Emma Torrance and I co-run THiNK. I am a SFEDI qualified Business Adviser with over 9 years experience providing business advice to freelancers, small businesses and social enterprises including clients from The Big House & Nottingham Trent University. I have managed and run organisations for over 20 years. For more info on me please see my Linkedin profile.

Zoom Link

You will be sent a Zoom link, meeting ID and password an hour before the workshop via email.

This information will be sent to the email address on your e-ticket/theatre account.

If you have any questions or accessibility requests please email s.hack@derby.ac.uk