Dream Weaver

Bloody hell, how complicated are flaming tax returns.

Spent 2 days no trying to get everything sorted but I dont have a clue what it is going on about. WIll have an accountant for next year, but this time as I only started before April, I thought it would be easy enough (as I only had 1 cheque in that period).

How wrong was I

Anyone know how to work capital allowances out?

DW

Dales

Yes, I do...will have a look at them with you at some point this week.

WRXBOB

What a f#cking nightmare these things are, millions of boxes & all with their own little number . . .
aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaarrrrrgh

Luckily me and my business partner finally got them finished off today


BOB

stevem2k

Do it online .. most difficult part is logging in. You punt the numbers at each page and it works it all out for you.

... and you have until december to get it done .


BTW I hear you met up with Tim M, DW ?

Steve

boomer

I have been trying to sort out a supposed very large balancing payment that i must pay by January (plus another similar amount by July).

On Friday i gave up trying to call them after 13 attempts, all of which were engaged.

Yesterday it took 5 attempts to get through to the queuing system, where i had to wait another 6 minutes. I thought that i had things sussed, but then i got a call back yesterday asking for further information.

After a long call to my previous employer today, i got the relevant information, but it took another 12 calls to get through (and another 4 minutes queuing) to correct things.

The numbers entered added up to the same thing (albeit in different boxes), but at least they now owe me money, rather than the other way around

Waste of a day's time though

mb

Dream Weaver

stevem2k

Just applied for the online thing - that was a nightmare in itself. Sent me to the Government Gateway thing which took ages to sort out. Now I have to wait 7 days for the pin

Yeah, met up with Tim in London, and had a nice G&T and a chat. Thoroughly nice chap, and went through all the CFD stuff for me Work underway on the new site now

Dales - will chat one night this week, think I have sorted most of it now. Just looking into accounting packages for the future.

DW

Tiggs

did my self assesment online and had cash in the bank from the IR within a couple of weeks.

T

dsmith

nobody likes a smart-*** Tiggs

stevem2k

Agree Tiggs ... last year did it on the sunday, cheque arrived in the post Wednesday morning

Can't say fairer .....

Steve

TAZMAN

use a company called HR block (used to be the tax team) 150 quid and they do it all for you!!! past 2 years I have got 1500 quid back from the IR...

Funkii Munkii

Agreed Web site is pants

For the pat two years they have sent me a cheque and 9 months later I get a letter saying by the way we mis calculated your tax can we have our money back, so look out Tiggs a sting in the tail could be coming your way, I hope not for your sake, on both occassions i'd spent the money

If I get another rebate i'm gonna sit on it for 12 months!!

Dave

Chris L

If you want to do it yourself, then I would highly recommend TaxCalc produced by Which? It prompts you to fill in all the necessary details, then produces the forms for you. You can then either submit it electronically or print out the forms and send it in. I've been using this for the last 4 years and it is very good. It has the added bonus of being approved by the IR and therefore they rarely query them because they know it is very difficult to fill them out incorrectly. £20 for a lot less hassle is well worth it.

If you have more comlex tax affairs - get an accountant!

Chris

chiark

I'd go for online - had to do it for the first time this year, looked at the forms, thought "****", then went on-line as Mr Tax Man had kindly pre-registered me and sent a password...

Five days later I had the refund in my bank account

The on-line thing only asks you the questions that you need to answer, which is nice.

P20SPD

iTrader: (1)

LOL

Yes but it does not ask tell you about legitimate expenses you can claim!!!

DW - as said before, you know where to come. If you want an accounting package and not a tax package, then drop me a mail as i can recommend a good one, thats relatively cheap and simple to use.

Hate to say this - but - told you so

Steven

chiark

Ah Steve, forgot you were an accountant. Thankfully my tax is simple, but may speak to you next year on a professional basis. In fact, I may speak to you about this sometime anyhow

When are you next at David's, and do you want another pair of hands?

Dream Weaver

Cheers folks - a friend is sending me Sage which is supposed to be half decent so at least I can track expenses better now. Didnt realise you could claim back car insurance, servicing, road tax etc etc.

So far I have £3k expenses, £1k income for the period

I will be asking them to keep the rebate though towards next years tax bill as it stops me from spending it

Dales - will call you tomorrow/Friday ish.

Pavlo

DW, I can confirm that the online system is a piece of proverbial ****.

I also did my last one for self employement and regular employment, took about 20 minutes, and the best thing is you get the rebate very quickly. I had mine in the bank on about 20th Jan this year, after completing it just after the new year.

It will also give you a nice PDF copy of the completed return for your records.

Paul

P20SPD

iTrader: (1)

Nick, next at Davids??? depends when turbo arrives and when he can fit me in Pair of hand might be nice, cause we have alot to do. Headers, turbo, etc, etc

Nick if you have any questions re tax etc drop me a mail

DW - which Sage? Instant is cheapest and simple, line 50 is probably overkill.

Good choice leaving them with the overpayment, 1 you dont spend it, 2 you earn interest on it which is not taxed!! Just make sure they dont decide to send you it back anyway!

carl

Might have been better off telling them you were unemployed (as long as you didn't pay yourself) until the start of the tax year. Still, too late now

You can't, if you're running a private car (you should pay yourself a mileage rate instead). Are you running the car as a company car?

MarkO

LOL. It's at this time of year that all the people who said to me "you pay your accountant to do your tax return?!?" suddenly stop looking so smug.

Oh, and Tiggs, if the IR are paying you money, you're clearly not earning enough.

Timbo33

I did mine the old fashioned way and the IR paid the money direct into my Bank Account before they even wrote to tell me. I nearly had a heart attack I thought a bill had bounced 'cos I had too much money!!!

Oh and MarkO...Tiggs and I don't do too badly

Tiggs

marko,

i paid the IR about 40k income tax last year, the least they could do is give me a couple back to cover my lunch expenses

T

carl

LOL I think it cost me around 70 quid to get my accountant to do it last year (haven't had the invoice for this year yet). Money well spent, IMHO (even though it isn't claimable as a business expense )

chrome

just done mine.. was the first time and what a headache...
thankfully I had none of the complicated CTG and serious investment issues.

Although still bricking it... not looking forward to my bill.

I was warned off using online service due to security problems with the IR system.
So I did it the hard way
wish me luck!