I am self employed and just about to fill my self-assessment tax return for 2008/09 and I am a little confused as to how much I will have to pay and to whom.
I went bankrupt on 20th October 2008 so I am filling in my tax return April 6th 2008 to April 2009.
From what date will I be liable to pay any tax, will it be from any income earned from 21st October onwards and to whom will this be payable.
If I have to pay the OR will I still be entitled to the personnel allowance on the first £6475 earned? So for instance if my profit was £10000 would I still only be liable to pay tax on £3525.
The Inland Revenue used to send me a bill every few months for my national insurance contributions, and I have not received anything since going bankrupt last year, is this normal.
I hope all this doesn’t sound too complicated as I am a little confused about it all at the moment.
Self employed and Tax
Posted - 24 September 2009 : 13:29:02
