Accounting software - one off return

[Condi]

I need to make a one off tax return covering a few previous years of letting income. There is no ongoing income and so no need for any future tax returns. Is there some accounting software you can buy for a one off fee, rather than signing up to a 12 month contract with Sage/Quickbooks etc? Also are there any preferred programs for landlords, as opposed to general business book-keeping?

[shibby!]

Afternoon...

Try taxfiler.co.uk

I am an accountant and use this online software for my part time business. They also have a license for a 1 off submission. From memory will cost around 20 bucks.

Good luck!

[Eric Mc]

You can still complete and submit paper tax returns if you want to. The only proviso is that the filing deadline for a paper return is 31 October rather than 31 January.

So, the filing deadlines for tax year 2021/22 is 31 October 2022 for paper and 31 January 2023 for on-line.

[ziontrain]

If you've got multiple years of outstanding income to report you might want to look into whether the Digital Disclosure Service would be of use.

[Toddy.]

f you have had a nice letter from HMRC regarding BTLs in your name why not enter the aggregate totals onto your self assessment.

[Condi]

Toddy. said:

f you have had a nice letter from HMRC regarding BTLs in your name why not enter the aggregate totals onto your self assessment.

I had a nice letter from HMRC, but am not used to doing a self assessment (PAYE, without enough money to make it worthwhile!).

In the end an accountant who deals with a lot of small landlords quoted £150 to do all 3 years which seemed a lot easier than doing it myself, as he will know the expenses and such like which can be claimed better than I will.

[Rebew]

You can file self assessment returns online using the HMRC website for free, no need to use software at all and the system is set out in a fairly intuitive way (unusual for HMRC!)

I would collect the income & expenses on a spreadsheet, turn it into a simple P&L then plug the figures in to the HMRC website.

There is talk of introducing Making Tax Digital for self assessment as they have with VAT but they have been kicking this can down the road for a few years now and realistically I can't see it being brought in even in 2024 as they currently say so you can ignore this paragraph completely!

[Rebew]

Condi said:

I had a nice letter from HMRC, but am not used to doing a self assessment (PAYE, without enough money to make it worthwhile!).

In the end an accountant who deals with a lot of small landlords quoted £150 to do all 3 years which seemed a lot easier than doing it myself, as he will know the expenses and such like which can be claimed better than I will.

Didn't see this before, £150 for 3 SA tax returns is a bargain, go for that instead of doing it yourself.

[Condi]

Rebew said:

Didn't see this before, £150 for 3 SA tax returns is a bargain, go for that instead of doing it yourself.

That's what I thought too. Much easier, and also tax deductable.