Sole Trader _ without balance sheet and tax

[sarangan0072000]

Hi Guys,

Im showing the previous earning as a sole trader and employed, I have run my business in my personal account.

1) while making the accounts my accountant told me that the TAX RETURN will be filed after April 5, so I dnt have to send the Tax return as the proof of my application, is that ok???

2) Is Balance sheet is an essential one?? accountant told me that Balance sheet is not necessary since I have run the business in my Personal account , so he only given the Invoice summary, P& L Account, & Accountant letter. is these be sufficient enough?

Pls advice
thx

[teddy0409]

(1) You do not require a tax return at this stage as you will pay your tax for 2010-2011 on or after Jan 2012

(2) Balance Sheet is only used as supporting evidence in your case,
Your accountant could prepare this in matter of an hour,
Insist your accountant to prepare the balance sheet.

Even-though UKBA does not require balance sheet, it will become your supporting evidence for your profit and loss statement and invoice explanation. (The figures will corroborate in more than one evidence)

(3) Make sure your accountant have added his membership of a registered body with out fail

Ref: Policy guidence page no. 45

'All accountants must be either fully qualified chartered accountants or certified accountants who are members of a registered body, see section on providing evidence from an accountant or accountancy firm'

[sarangan0072000]

Thx mate for your prompt reply, one more thing, how about the Liability Insurance I was told that we dont have to give the document after December 2010, but I already got the Liability Insurance. Is it ok if I submit along with my other documents or shall I avoid it??

thx

[teddy0409]

You are welcome,

If you have Liability insurance, you could submit it as supporting evidence

[sarangan0072000]

Noted thx