_angel_
.
Still worried about this.
Never mind the "online realtime" accounts you'll apparently need to do every WEEK for universal credit. That surely is unworkable??
Post your tax return angst here
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Never mind the "online realtime" accounts you'll apparently need to do every WEEK for universal credit. That surely is unworkable??
smmudge
i know the smudge is true
I registered self employed because I do a bit of casual work here and there, but not much really. At first I got the exemption from Class 2 NICs, but then I didn't bother renewing it because it's not much really and I wasn't exactly sure how much I was going to make from freelance work this year anyway. Well, now I've got a full-time job so I'm on PAYE, as well as keeping my self-employed status because I still might get some more casual work before the year is up. But now I'm basically paying two lots of Class 2 NICs.
Will this 'come out in the wash' as it were when I fill in my tax return? Or should I be telling HMRC something? Honestly I wouldn't find tax so confusing if it weren't for NICs. They are surely the bane of my self-employment status.
Will this 'come out in the wash' as it were when I fill in my tax return? Or should I be telling HMRC something? Honestly I wouldn't find tax so confusing if it weren't for NICs. They are surely the bane of my self-employment status.
Monkeygrinder's Organ
Dodgy geezer swilling vapid lager
Call HMRC and talk to them. Tax returns are different than NIC AFAIK.
Hello
Like MonkeyGrinder'sOrgan said - you really need to talk to HMRC to stop overpaying NIC. This will not 'come out in the wash' in the tax return
If you are in employment, you will be paying Primary Class 1 NIC taken out of your salary. As a self employed person, you will be paying Class 2 NIC. If you are paying both Class 1 and Class 2, there is an annual maximum of NIC that you may well have breached. In this case, HMRC will allow you to defer payment of the Class 2 NIC to stop having to (eventually) refund you after the end of the contribution year.
Yes, Class 2 isn't that much, but there may be nicer things for you to spend your money on.
UnderOpenSky
baseline neural therapy
I'm in a similar boat, done very little freelance work this year, so didn't pay the second lot. Now I'm claiming job seekers it says I'm not entitled to income based payments. I really need to sort this out.
zenie
>^^<
Then they might owe you money. I think I'll be getting a rebate for 10/11 as I made a loss and got taxed loads on a redundancy.
*hopes*
Are you S.E stuffs?
UnderOpenSky
baseline neural therapy
You mean you're not registered as self employed? You can have fuck all money and still get a big fine for not doing one.
Although as it stands I don't have to pay any tax for last year. This probably isn't something to be pleased about.
stuff_it
Too skool for cool
No, I'm not registered, I've never made enough to be worth it.
I know for a fact I am owed PAYE rebates but there is no way to contact them to get hold of the money.
smmudge
i know the smudge is true
zenie
>^^<
No, I'm not registered, I've never made enough to be worth it.
I know for a fact I am owed PAYE rebates but there is no way to contact them to get hold of the money.
Contact who? The tax office?
stuff_it
Too skool for cool
It's from before there was one big tax office and you were meant to know which one your agency used etc.Contact who? The tax office?
Definitely owed at least a couple of hundred but when I looked into it allegedly I should just get it one day, maybe, if they haven't sent it and it got lost in the post to somewhere else...dunno. There's no obvious way to contact them and find out anyway.
Looby
Well-Known Member
It's from before there was one big tax office and you were meant to know which one your agency used etc.
Definitely owed at least a couple of hundred but when I looked into it allegedly I should just get it one day, maybe, if they haven't sent it and it got lost in the post to somewhere else...dunno. There's no obvious way to contact them and find out anyway.
The income should all still be on your record.
You didn't need to guess which office the agency used anyway, your payslips usually show their employers reference. The first 3 numbers signify which tax district they were in.
If you know the tax years involved, give HMRC a ring and ask them to have a look at those years. It might be that there is missing information, if so they might need P60s and P45s.
Also, just because people have to fill in tax returns it doesn't mean they have any more money than you. Many self employed people are living on very little if their businesses are struggling.
Zorra
Suburban lazarus
The money just appeared in my account! It's totally a mistake. Should I tell them or will it cause more hassle? Shall I just put it all in a savings account so I don't spend it in case they ask for it back?
Looby
Well-Known Member
If you've had a refund you don't think you're entitled to then you need to contact them. Apart from anything you may be charged interest.
You never know, it might be correct then you can blow it.
smmudge
i know the smudge is true
So I called HMRC and they said it was correct that I'm paying both Class 1 and Class 2 NIC and when I asked him about a limit he said there wasn't one. In any case I also found out I can back date an exemption application for Class 2 NICs and get a refund, which I'm gonna because it turns out I'm way under the threshold and have no chance of reaching it this year!
FridgeMagnet
Administrator
I have filled in my tax return amazingly early, seeing as how I thought I wasn't going to be able to afford to pay it and might need to flee the country, and think I've found that I don't have to pay anything (until July) due to payments on account last year!
this will probably turn out to not be true somehow, though
this will probably turn out to not be true somehow, though
equationgirl
Respect my existence or expect my resistance
I did mine. I apparently underpaid my income tax contributions again because payroll seem incapable of applying the right code to my wages.
I made £280 'profit' this year renting out my flat. And with the underpayment the taxman has taken most of it.
I loathe tax returns.
I made £280 'profit' this year renting out my flat. And with the underpayment the taxman has taken most of it.
I loathe tax returns.
free spirit
more tea vicar?
argh.
why are the HMRC codes and explanations so fucking useless? It's almost like they deliberately want to catch you out.
eg where is training supposed to go, and which box does loan income into the business go into?
well fucked off that I couldn't afford for the accountant to sort this out for us this year given the size of our turnover. We're almost guaranteed to get audited as well I reckon, but at least everything's relatively in order from the monthly vat accounts.
why are the HMRC codes and explanations so fucking useless? It's almost like they deliberately want to catch you out.
eg where is training supposed to go, and which box does loan income into the business go into?
well fucked off that I couldn't afford for the accountant to sort this out for us this year given the size of our turnover. We're almost guaranteed to get audited as well I reckon, but at least everything's relatively in order from the monthly vat accounts.
Mrs Magpie
On a bit of break...
This year's earnings. Big fat zero. That's quite angsty.
free spirit
more tea vicar?
erm, so they apparently want me to pay both the 2011-12 tax bill, and 1/2 of their estimated tax bill for 2012-13 as of midnight just gone.
fuck that, since when were they able to force you to pay half the next years tax bill upfront? I'd certainly not budgeted to be paying that for another year.
fuck that, since when were they able to force you to pay half the next years tax bill upfront? I'd certainly not budgeted to be paying that for another year.
Winot
I wholeheartedley agree with your viewpoint
Forever. That's how it works if you're self-employed :-(
High Voltage
In the top 97% of Urban's most interesting posters
<smug>
I have completed my 2012-13 tax assessment with a grand amount to pay of £60 <------------------------
I'll admit to having had the assistance of an accountant and that's the best money I've ever spent
I shall NEVER say another bad word about accountants - they truly are wonderful people
</smug>
I have completed my 2012-13 tax assessment with a grand amount to pay of £60 <------------------------
I'll admit to having had the assistance of an accountant and that's the best money I've ever spent
I shall NEVER say another bad word about accountants - they truly are wonderful people
</smug>
Bahnhof Strasse
Met up with Hannah Courtoy a week next Tuesday
Urgh doing 'year-end accounts' atm. Lots of fucking work just so HMRC can demand 1000's in corporation tax. Should I change my company name to Amazon and fuck the whole thing off?
Bob_the_lost
Elsewhere
error. Badly formatted smugness.
High Voltage
In the top 97% of Urban's most interesting posters
Better
Still got my tax return done and I'm guessing you haven't yet
Bob_the_lost
Elsewhere
Don't need to. I'm still a PAYE wage slave, my masters/betters handle my tax for me.Better
Still got my tax return done and I'm guessing you haven't yet
But yes, the tax man and the NSA thank you for your parsable xml....
