Self Assessment 2010-12 (Who's started?)
Discussion
Ok I maybe a littlesad here but this is the first weekend of the new tax year and Im eagar to complete as much of it as possible.
Question is is it available yet online (I always do online over paper returns).
Anyone else doing the same????
I find it much easier to start sooner as its all fresh and then the documents can be filed away.
When further and final info ie P60 & pension statement come through then it can be finalised
Question is is it available yet online (I always do online over paper returns).
Anyone else doing the same????
I find it much easier to start sooner as its all fresh and then the documents can be filed away.
When further and final info ie P60 & pension statement come through then it can be finalised
Noble Anonymous said:
Sadder than you, completed mine last night, but then I am due a refund!!
Good man.Firt time I ever had to complete one I left it until the last few days in Jan... what a nightmare all the stress and searching the house over for the relevat items and having to call up institutions for lost or misplaced documentation. Never again.
During each tax year I collate all the relevant documents and tax stuff as I get them, and at the same time maintain a spreadsheet with all the relevant financials together, so at the end of the tax year I'm sitting smug ready to do the usual form filling etc. The final piece is always the P60 for the tax year in question as I never get this until June. Then it's a simple matter of transferring all the totals to the right boxes (online or paper), job done. Also, I always calculate my tax due for the year (sometimes I owe HMRC, sometimes they owe me) because HMRC never seem to get the calculation right and always end up agreeing with my calculation!
R.
R.
The Leaper said:
During each tax year I collate all the relevant documents and tax stuff as I get them, and at the same time maintain a spreadsheet with all the relevant financials together, so at the end of the tax year I'm sitting smug ready to do the usual form filling etc. The final piece is always the P60 for the tax year in question as I never get this until June. Then it's a simple matter of transferring all the totals to the right boxes (online or paper), job done. Also, I always calculate my tax due for the year (sometimes I owe HMRC, sometimes they owe me) because HMRC never seem to get the calculation right and always end up agreeing with my calculation!
R.
Did you get your Anally Retentive badge in the cub scouts too? R.
I do the same....
When something comes in I pop it into the folder & also keep s/sheets going on a monthly basis to record the relevant items.
So now I just have to finish the last month and then plug in the numbers. P60 is always slow and they always tend to send them out at the latest date they are allowed. Annoying as Id like to complete it asap for another yar.
When something comes in I pop it into the folder & also keep s/sheets going on a monthly basis to record the relevant items.
So now I just have to finish the last month and then plug in the numbers. P60 is always slow and they always tend to send them out at the latest date they are allowed. Annoying as Id like to complete it asap for another yar.
I don't know how you guys find the time to do this stuff.
I am always to busy in the evenings getting my CDs, books, tinned foods in alphabetical order to be messing with such trivialities as a year long project of filling out my tax return.
Like most sensible people I pay someone to do this for me.
In January.
The last week of it.
(I am the very definition of rock and roll)
I am always to busy in the evenings getting my CDs, books, tinned foods in alphabetical order to be messing with such trivialities as a year long project of filling out my tax return.
Like most sensible people I pay someone to do this for me.
In January.
The last week of it.
(I am the very definition of rock and roll)
I created some time ago my own accounting software, so as I enter either a rental payment or an expenditure, the net taxable income figure is immediately shown. So if need be I could immediately submit an online self-assessment, but Welshbeef why the haste, I can’t really see any advantage in submitting a quick return.
fergywales,
As I said in my post, I do feel a bit smug about keeping on top of things, but I need to do so as there's a fair amount of documentation always involved. Before I got on top of things a few years back when I used to get to January and start to do my return etc, it took me round about 8 hours each year! Now, maybe 10 minutes a month and one hour at the end of the year, job done.
jockman,
You're right of course, but I still think the P60 arrives early June (could be very late May) each year. Whatever, I still have loads of time to meet HMRC's deadline!
R.
As I said in my post, I do feel a bit smug about keeping on top of things, but I need to do so as there's a fair amount of documentation always involved. Before I got on top of things a few years back when I used to get to January and start to do my return etc, it took me round about 8 hours each year! Now, maybe 10 minutes a month and one hour at the end of the year, job done.
jockman,
You're right of course, but I still think the P60 arrives early June (could be very late May) each year. Whatever, I still have loads of time to meet HMRC's deadline!
R.
I'm quite impressed by the efficiency of some of the people on this thread. If you have a passion for the figures etc then go for it. It's the same passion that others have for their cars etc and why they post threads about really detailed parts of their vehicles.
Bogie, you should know this from the AM Forum
Bogie, you should know this from the AM Forum
Very impressed with the efficiency of you gentlemen, I have the opposite conundrum, I didn't think I had to complete an SA for the 2010/11 tax year (I'm PAYE but have rental property abroad), it transpires HMRC were expecting one for 2010/11 and have sent me the £100 fine.
Can I go online to complete the 2010/11 still or do I need to complete a paper one?
Thanks
Can I go online to complete the 2010/11 still or do I need to complete a paper one?
Thanks
Welshbeef said:
I just don't get paying someone to do your return for you how much?
It's dead easy and reallly just keep organised it desnt take long at all.
I usually spend one hour doing it online but that's because I double and triple check
Not all returns are easy. peoples' circumstances vary greatly.It's dead easy and reallly just keep organised it desnt take long at all.
I usually spend one hour doing it online but that's because I double and triple check
Also, the completion of a bare return (i.e. just filling in the boxes) may not be sufficient for HMRC's needs. Buried in the Self Assessment legislation is the requirement to supply supporting schedules and information to allow HMRC to assess if an investigation is required or not. I always provide these more detailed schedules and summaries to HMRC as part of the on-line submission and haven't had a Self Assessment investigation in at least 5 years - which equates to almost 600 tax returns.
Gassing Station | Finance | Top of Page | What's New | My Stuff