Tax returns.....
Discussion
Same here. Finally finished it on Sunday and sent it off yesterday. I reckon they owe me a few hundred quid too.
Tried to do the online thing and after going through a prolonged registration process it just told me that due to the nature of my return I couldn't do it online.
Back to that 'orrible calculation form...
Tried to do the online thing and after going through a prolonged registration process it just told me that due to the nature of my return I couldn't do it online.
Back to that 'orrible calculation form...
I'am scared now.
Did mine last night as well. Unfortunately I am not in the happy situation that most of you seem to be in, so off went a cheque at the same time. Oh well, it's only money....
[rant]
why oh why when you have an online service do they mail you, not email, but mail you your pin number? And this takes seven days! OK, I guess I should have been better organised, but surely this is more than a bit half-arsed?
[/rant]
[rant]
why oh why when you have an online service do they mail you, not email, but mail you your pin number? And this takes seven days! OK, I guess I should have been better organised, but surely this is more than a bit half-arsed?
[/rant]
NikB said:
I got very very confused filling in the tax calculation until I noticed the box that said 'any negative values should be replaced with 0'. Doh.
Nik
Did mine last night and made exactly the same mistake. It worked out that I owed them almost as much as I'd earnt. So I started again and now I reckon they owe me a few quid. Maybe even enough to pay for the new suspension bushes I need for the car following it's rather ignominious MOT failure last week.
Marcos maniac said:
accountant done mine months agowell worth paying them to save
I've had mine done by the Company auditors for the last seven years now. There is NO WAY I'd ever be as efficient. It used to be there were tax breaks they'd find me too.
Not any more
Thieving L****r Scum.
As a self employed accountant I've had to complete almost 100 of the darn things. As of today, three have not yet been submitted to the Inland Revenue due to lethargy of clients returning the forms to me.
Although the Inland Revenue trumpet the fact that they will calculate the liability for you if you get the return to them before 30 September, there are other more important reasons why they want them earlier. One is that it allows them the opportunity to process the return and amend Notices of Coding in advance for the next tax year. This is particularly important if you are taxed mainly under PAYE and have additional allowances to claim over and above the normal ones and/or you receive Benefits in Kind. Another benefit of getting the return in before 30 September is that the Inland Revenue can collect extra tax or organise a refund by adjusting your current PAYE tax coding. IF the return is received after 30 September they are obliged to credit any refunds directly to you Self Assessment account and you may have to chase them for the actual refund. If you owe tax you will be obliged to pay them a cheque by 31 January. Finally, if a return is submitted after 30 September they cannot guarantee that they will issue a Statement of Account showing the amount of tax due in time for your 31 January tax payment(even if you have calculated the liability and shown it in the appropriate box of the return).
Just to remind you - amounts paid after 31 january will attract interest. More importantly however, if part of your 31 January bill relates to a Balancing Amount to clear the 2001/02 tax liability, if that payment is received after 28 February, the Inland Revenue slap on a 5% surcharge - on which further interest will be charged.
Although the Inland Revenue trumpet the fact that they will calculate the liability for you if you get the return to them before 30 September, there are other more important reasons why they want them earlier. One is that it allows them the opportunity to process the return and amend Notices of Coding in advance for the next tax year. This is particularly important if you are taxed mainly under PAYE and have additional allowances to claim over and above the normal ones and/or you receive Benefits in Kind. Another benefit of getting the return in before 30 September is that the Inland Revenue can collect extra tax or organise a refund by adjusting your current PAYE tax coding. IF the return is received after 30 September they are obliged to credit any refunds directly to you Self Assessment account and you may have to chase them for the actual refund. If you owe tax you will be obliged to pay them a cheque by 31 January. Finally, if a return is submitted after 30 September they cannot guarantee that they will issue a Statement of Account showing the amount of tax due in time for your 31 January tax payment(even if you have calculated the liability and shown it in the appropriate box of the return).
Just to remind you - amounts paid after 31 january will attract interest. More importantly however, if part of your 31 January bill relates to a Balancing Amount to clear the 2001/02 tax liability, if that payment is received after 28 February, the Inland Revenue slap on a 5% surcharge - on which further interest will be charged.
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