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Tax return blues - would a bit of solidarity help?

iamwithnail said:
No. Not without prosecuting you for evasion, first. In the first instance they might ask you to provide the basis for your breakdown, but the record keeping requirement is supposed to be proportional to size of claim/tax burden, etc.
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Agree about the proportionality, but there does not need to a prosecution for HMRC to use its powers to require third parties to provide data relevant to the tax position of a person. See here
http://www.hmrc.gov.uk/manuals/chmanual/CH23620.htm
 
lazythursday said:
Oh joy. I have discovered the concept of deferred income. I can perfectly legitimately push a big chunk of income into the following tax year because that was when I actually did the work. Now I am simply nervous rather than scared as I tot up the final expenses. :D
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Not to detract from your joy, but as well as deferring a chunk of income are you are also deferring claiming the related expenses?
 
porp said:
Your mortgage stuff - are you trying to work out your allowable expenses for working at home? If so,then if you really cant get the interest/capital calculated, you may as well use the simplified method approved by HMRC.
https://www.gov.uk/simpler-income-tax-simplified-expenses/working-from-home
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I've figured it out - there doesn't appear to have been any rate changes so fine. The simplified method is ridiculous - my heating costs alone during the working period are far more than £10/month! I'm also putting a proportion of mortgage interest, council tax, house insurance.
 
porp said:
Not to detract from your joy, but as well as deferring a chunk of income are you are also deferring claiming the related expenses?
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The only expenses incurred on directly that project (train travel for a planning meeting) was incurred well before the actual work took place - in the previous financial year - should I really move that too? bonkers.
 
I managed to be together enough to find the letter telling me I had to do a tax return and phone HMRC. I do have to do it, but apparently it will tell me I didn't have to do it after I've done it. And I don't have to get it in till April. I did think it was a bit harsh only giving me 30 days notice.
 
I guess I could have sent it in a couple of weeks ago but anyway it's done now...

I'm really uncomfortable with the fact that the payments go to an account at Citibank - why does HMRC have accounts with an American bank?
 
good news, tax return is in and I don't owe any tax.

Bad news, I appear to have worked an entire year for minus money 2 years in a row.

Got to get this making money rather than losing money thing sorted out this year.
 
DexterTCN said:
Does anyone ever consider doing it in June or July?
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I had mine down by middle of April! This year I've done it all as I've gone along, a massive spread sheet detailing every invoice, every type of expense, with built in calculations to tell me at a glance how much I should have put away to pay tax and NI.

Theoretically on 5th April I will be able to complete this years at the touch of a button!
 
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1927 said:
I had mine down by middle of April! This year I've done it all as I've gone along, a massive spread sheet detailing every involve, every type of expense, with built in calculations to tell me at a glance how much I should have put away to pay tax and NI.

Theoretically on 5th April I will be able to complete this years at the touch of a button!
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I did mine in May - had to wait till then before the website would let me do it. But I do have a very simple tax return.
 
I see Ozzy's proposing to scrap the whole thing in favour of ongoing on-line submission/calculation, rolling out from next year.

In light of government's stellar record of managing large-scale IT projects, not to mention data protection, I won't hold my breath...
 
Recuscitating this thread for a bit of a gloat. Not only have I just filed my tax return for 14-15 (a big piece of work didn't materialise this week so I had to find something fun to do with my time), they apparently owe me money :cool:

Actually, the last part worries me slightly. It does suggest I've made a mistake on the form. I won't buy masses of cocaine and heap it all over my desk in a big mountain until I've checked the figures again...
 
I've just set up ltd company so I can look forward to corporation tax, NI, VAT, dividend tax, accounts and all that sort of stuff :hmm:
 
Excuse me a moment ...

[feckin' V A bliddy T quarterly returns - this is seriously doing me heid in atm]

ah, that's better for a quick rant.
I wish hmrc would realise that not everybody has regular income and expenses, our pattern really doesn't fit their VAT system.
 
I started mine 2 weeks ago, then got bored and need to start it again. Really shouldn't have left it till now, this is my busiest time of year and I could really do without having to fill it in at the mo :facepalm:
 
Every year I promise myself to do the accounts myself to save some money and at the last moment I send it all off to my accountant. And that still takes a day to collect and sort all the receipts and statements.
 
billy_bob said:
Recuscitating this thread for a bit of a gloat. Not only have I just filed my tax return for 14-15 (a big piece of work didn't materialise this week so I had to find something fun to do with my time), they apparently owe me money :cool:

Actually, the last part worries me slightly. It does suggest I've made a mistake on the form. I won't buy masses of cocaine and heap it all over my desk in a big mountain until I've checked the figures again...
Click to expand...

I've just managed finally to query this with HMRC, and they're satisfied that the nearly £1k they've just sent me is genuinely owed to me.

:cool:
maxresdefault.jpg
 
That's what they said to me about £4k a couple of years ago which they then changed their mind about and demanded with menace . . .
 
My new accountant found out recently that I was owed a tax rebate. They put in the return and ticked the box asking HMRC to pay it into my bank a/c. A few weeks later they checked and found that HMRC had interpreted that as an instruction to keep the money on my account :facepalm:

Even after they were told that no, really, I did want the money, it took a good couple of weeks for them to send it.
 
Mine's sorted by accountants a while back (have a massive whack of Capital Gains to pay in January, but I was well prepared for that).

I'm trying, without being naggy, to get my other half to do his in good time. He did a 3-month contract role at the end of 2013, and his business accountants said he shouldn't owe anything on his personal return. In the end (admittedly due to multiple stresses going on), he did his return late in the afternoon of 31 January this year. It said he owed them a significant proportion of what he earned in that time. With no time to bloody dispute it, I basically put most of my savings in to pay it. They've asked him, and he's paid more since. I cannot believe it can be correct and really need him to do that return and in good time, because frankly if it says anything less than that HMRC owe him several grand, it needs to go to my accountants to make sure it's right, and I don't know what info he may have to gather for that!
 
I don't even need to do a tax return this year but forgot to tick the box telling them this last year. So I have to at least make a phone call to let them know what I did. Why have I left it so late though? I always do!
 
I have an accountant but I still seem to be doing most of the work. Sorting through receipts for the last tax year (I always chuck everything in one drawer), printing out my invoices and lots more receipts as so much is done online now, checking my bank statements. With a lot of procrastinating pauses I manage to drag out this task to two days at least. After getting a cranky reminder letter from the accountant to send him my paperwork I'm finally doing it all today and as far as I'm concerned it's hell on earth! Would I be better off doing it all myself, saving myself the accountant ? I'm freelance, so I can claim for a lot of stuff. I know what I can claim for but never the percentage.

Everything to do with numbers makes me break out in hives, I hate. :(
 
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