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My self-employment work did not trade this year, do i need to file a self-assessment?

If you were self-employed during the tax year in question but your business did not trade or generate any income, you may still need to file a self-assessment tax return. If HMRC have made a request for you to submit a self-assessment tax return, then it will have to be filed.

The reason for this is that the tax authorities need to be informed about your self-employment status, even if you had no income to report. You would need to complete the self-assessment tax return to indicate that you did not trade during the tax year. If you are no longer self-employed, then that tax return will be the opportunity to tell HMRC that you no longer need to file a tax return in the future.

It’s important to note that even if you don’t have any income to report, you may still need to file a tax return if you have other sources of income that are not taxed at source, such as rental income, dividends or investment income.

If you’re not sure whether you need to file a self-assessment tax return, you may want to seek advice from an accountant or tax adviser. They can help you determine your tax obligations and ensure that you comply with all the necessary rules and regulations.


Fungayi Mukosera