Tax help needed

[Maxf]

I need to find someone to fill out my tax return - nothing too complex, just some shares sold and everything else PAYE.

This is for the 2012/13 tax year and HMRC have said that if I get it back to them by September this year I won't be fined as I confessed to owing some tax (on the shares). However, the form seems horribly complicated so I'd like to have someone do it for me, to save errors.

Does anybody take on one-off work like this and if so, would it be a sensible cost?

[Countdown]

If it's all PAYE apart from the share dealings then I'd give these guys a go;

www.simpletaxreturns.com

[Eric Mc]

By definition - if you need to complete a self assessment tax return, your affairs are probably not that "simple".

Are you a higher rate taxpayer?

Did the gains you made on the share disposal exceed the 2012/13 Capital Gains Tax annual allowance (£10,600)?

Do you have any investment income - such as dividends (likely, since you have owned shares) or interest received?

[Maxf]

Yes, I'm a higher rate taxpayers but have no other shares or investments (outside ISA or pension).

I get no real interest paid to me outside ISAs (£10 a year maybe). Share sale profit exceeds 10600 hence the need to pay tax - shares were part of a sharesave scheme.

[Eric Mc]

Then, by some standards, your SA return SHOULD be relatively straightforward. Have you tried filing on line or are you struggling with a paper form?

[Maxf]

To be honest Eric, the info required on the paper form is what was throwing me - things like interest gained were fine for this year but for the year in question my records were rather lacking. The actual share sale part is fine as I kept full records knowing I would need to pay tax at some point.

I have applied for access to the online form now, which looks like it will at least give me a total payable straight away so I should be able to spot any major mistakes.

I have also found a decent guide which has explained a lot.

[Eric Mc]

Online completion is actually easier for most people because it takes you through the steps in a relatively logical sequence of screens. Knowing where to start with a paper form can be daunting.

Regarding the bank interest received, speak to the relevant banks and building societies and ask them for a Certificate of interest for each interest bearing account for the tax year ended 5 April 2013.

[sumo69]

Maxf

I just PM'd you but not sure it went - can you confirm either way please.

David

[Qwert1e]

All you need to do is work out your "gain" in relation to each acquisition and subsequent sale of shares. If they came from a Sharesave scheme, did they all come out at once or different shares on different dates?

Since the abolition of indexation and taper relief several years ago it's all much simpler. But that depends how long you've held the shares.

[Sheepshanks]

Maxf said:

To be honest Eric, the info required on the paper form is what was throwing me - things like interest gained were fine for this year but for the year in question my records were rather lacking.

Well, even if someone else does the assessment for you they can only go off the info you provide.

[RichB]

Maxf said:

This is for the 2012/13 tax year and HMRC have said that if I get it back to them by September this year I won't be fined as I confessed to owing some tax

I'd be astonished if they let you off the basic £100 fine for late filing plus interest on what you (sorry they) decide you owe. But good luck!