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SELF EMPLOYED TAX RETURN FORM

 

 

Sole trader accounts tax software automatically completes the self employed tax return

 

Automated Sole Trader Tax Return

No manual entries are required to complete the self employed tax return form which is completed automatically as part of the small business tax preparation software from the profit and loss account in the financial accounts file providing a complete tax software package with the tax calculation accounting spreadsheet.

 

When the sole trader sales accounting spreadsheets and purchases accounting spreadsheets have been completed the self employment ax return form is ready to be printed ready for you to go online and enter the accounts direct to the  revenue website  who will then automatically calculate the tax liabilities already advised on the draft tax calculation included in the sole trader accounts package.

 

The sole trader accounting package completes a copy of the revenue tax return The self employed accounting package would be more suitable if the sales turnover was likely to be in this region as there would be the possibility for vat registration if the vat threshold limit was exceeded.

 

When the accounts are complete print this form and fill in the official revenue form for submission.

 

 

                                             
B - INCOME FROM TRADES, PROFESSIONS OR VOCATIONS              
  ( Including Farming and Partnership Income)                        
                        Primary Trade   Subsidiary Trade
                        Self      Spouse   Self      Spouse
101 Tick box(es) to indicate to whom the                             
  income in each column refers                              
                             
102 Description of Trade, Profession or Vocation    
                         
                                             
  Do not submit accounts with this return. Instead you must give an extract of information from the accounts in     
  Extracts From Accounts, Lines 119-154.                          
                                             

 

                          Primary Trade     Subsidiary Trade
Income                                            
123   Sales/Receipts/Turnover           0 .00         .00  
                                                 
124   Receipts from Government Agencies (GMS, etc.) 0 .00         .00  
                                                 
125   Other Income including tax exempt income   0 .00         .00  
                                                 
Trading Account Items                                    
126   Purchases                 0 .00         .00  
                                                 
127   Gross Trading Profits             0 .00         .00  
                                                 
Expenses and Deductions                                    
128   Salaries/Wages, Staff costs           0 .00         .00  
                                                 
129   Sub-Contractors               0 .00         .00  
                                                 
130   Consultancy, Professional fees         0 .00         .00  
                                                 
131   Motor, Travel and Subsistence         0 .00         .00  
                                           
132   Repairs/Renewals             0 .00         .00  
                                           
133   Depreciation, Goodwill/Capital write-off     0 .00         .00  
                                     
134   (a) Provisions including bad debts - positive   0 .00         .00  
                                     
    (b) If negative state amount here           .00         .00  
                                     
135   Other Expenses               0 .00         .00  
                                                 
Capital Account and Balance Sheet Items                            
136   Cash/Capital introduced           0 .00         .00  
                                                 
137   Drawings (Net of Tax and Pension contributions) 0 .00         .00  
                                                 
138   (a) Closing Capital Balance - positive         .00         .00  
                                     
    (b) If negative state amount here           .00         .00  
                                           
139   Stock, Work in progress, Finished goods     0 .00         .00  
                                           
140   Debtors and Prepayments           0 .00         .00  
                                     
141   Cash/Bank (Debit)               .00         .00  
                                     
142   Banks/Loans/Overdraft (Credit)           .00         .00  
                                     
143   Client Account Balances (Debit)           .00         .00  
                                                 

 

A complete tax preparation software package that not only calculates the income tax liability but also completes an excel copy of the self employed tax return

 

 

 

Backing Up The Tax Accounting Records

There is a legal obligation to keep accounting records  and therefore it is advisable that when the sole trader accounts are completed a back up copy is saved. Computers crash and so it is recommended that the sole trader accounts are emailed to yourself when complete so a back up copy of the accounts is kept on the email server computer as additional insurance.

Brief descriptions of the full range of Accounting Software, Payroll Software, Company Formation are available on the DIY Accounting home page

"DIY Accounting sole trader accounts tax preparation software automatically completes a copy of elf employed tax return form"

 

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Last modified: 10/03/09