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Gracehill134
Level 1

Why does my tax owed show £0?

I rent an annexe out at my home as a secondary income to my main employment and have been using Quickbooks to register rental income and outgoings such as food for guests, maintenance fees etc. All year in the summary the tax owed has been £0, but when I put all the figures into HMRC to submit it is showing that I owe nearly £900. Can anyone explain why this would be?

1 REPLY 1
Maybelle_S
QuickBooks Team

Why does my tax owed show £0?

Hello there, Gracehill134. I'm here to help check why your tax owed is showing as zero.

 

First, ensure all transactions are entered and categorized to avoid displaying a $0 amount. Here's how:

 

  1. Go to the Transactions menu.
  2. Click a transaction on the list.
  3. Select Business or Personal. If the transaction was both, click Split.
  4. Review the category in the Category column.
  5. Hit Save.

 

You can also read this guide for more details: Categorise transactions in QuickBooks Self-Employed.

 

Afterward, double-check your Tax profile for accuracy.

 

If everything is fine, let's perform basic troubleshooting steps. You may have accumulated too much historical data. Whenever you visit a website, it saves some information from the web page in its cache and cookies. These files allow the websites you visit most often to load faster. Not to worry, clearing them will do the trick.

 

First, let's access your account through an incognito window to rule out the possibility of a webpage issue. You can refer to these shortcut keys to open an incognito window in all supported browsers:

 

  • Chrome: Ctrl Shift N
  • Firefox: Ctrl Shift + P
  • Safari: Command Shift N

 

Once done, run your taxes again. If it works, switch back to your regular browser. Then, clear its cache. This way, you can access QuickBooks with a clean slate. You can also use a different supported one.

 

Furthermore, I've added an article to help you track your National Insurance contributions, work-from-home deductions, and mileage in QuickBooks Self-Employed: Three tax calculations to help you at tax time.

 

Please don't hesitate to add a comment below if you have other tax concerns. I'm always here to help you.

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