Self Assessment

[rocker]

URGH well I have one more thing to ring them up about tomorrow but then my tax return for 09-10 is DONE! Thanks mainly to my brilliant missus who explained all the stuff I didn't understand (most of it) and also made me a sweet spreadsheet with macros and buttons and everything (which I PROMISE to start using immediately as opposed to the current system of 'putting my receipts on the table') but I digress.

WHY do they have to make it so complicated? This isn't a rhetorical question, I really want to know.

Also, does anyone know when you actually have to pay? Is it by the 31st Jan when the return has to be in, or do they give you more time? How long is it before they tell you how much you have to pay?

I am definitely not leaving this till Christmas next time round!

 

[ian]

I hate self-assessments, haven’t done one in a couple of years. Now give it all to an accountant, who has made a significant differance to my liability.

The last time I did a self-assessment on line, I know right away how much I had to pay. Unfortunately the liability needs to be paid before the 31st Jan.

Ian

 

[rocker]

Cheers ian, what exactly does the accountant do? I mean I have pretty straightforward accounts and I'm sure I've declared all I can.... I hear people saying 'ooh the accountants can lower your tax significantly' but is it really that much of a difference? I can see how they may be able to squeeze a bit more out of it, but is it worth the 2-300 or whatever they cost?

Ooh ooh and do you give them all your receipts and they sort it out, or do you still have to do all the bookkeeping (which is the bit I striuggle with as I'm so disorganised)? I bet you have to do all the legwork.....

 

[millwall ken]

URGH well I have one more thing to ring them up about tomorrow but then my tax return for 09-10 is DONE! Thanks mainly to my brilliant missus who explained all the stuff I didn't understand (most of it) and also made me a sweet spreadsheet with macros and buttons and everything (which I PROMISE to start using immediately as opposed to the current system of 'putting my receipts on the table') but I digress.

WHY do they have to make it so complicated? This isn't a rhetorical question, I really want to know.

Also, does anyone know when you actually have to pay? Is it by the 31st Jan when the return has to be in, or do they give you more time? How long is it before they tell you how much you have to pay?

I am definitely not leaving this till Christmas next time round!

Rocker, I'd really really advise you to invest in an accountant for tax returns fella. Especially in this day and age, with the treasury being skint. You really don't want to give them an excuse to pick your pocket.

 

[telectrix]

if you are earning enough to pay tax, then have another go at the books. must be something you,ve not claimed for. if your missus is not working, for example, did you know you can pay her ( to answer the phone, do the books etc.)around £100 a week without her paying tax and stamp? that's a nice little deduction. another one saves you saving all your fuel receipts. book 10,000 miles a year or just under,business mileage and claim 40p/mile against tax liability. this figure allows for all your motor expenses.

 

[Des 56]

I have an accountant,but I think the payments for 09/10 are payable by July 31st for the first installament then january 31st 2011 for the second
The accounts for this year to be done by the time of the second installment for 09/10

By the way,I haven't even started mine yet,I dont want to pay that fine again this year, so the time to make the effort is fast running out,no motivation you see

 

[ian]

My accountant is a god amongst men and is worth every penny I pay him.

Like most other people I just filled in the form and pressed go and the tax was worked out. For years I had a liability, but the first year I used this accountant I received a £1.5k rebate, which was, based on the previous 2 years self-assessments. I generally have a slightly greater profit year on year but my tax liability never seems to change.

Its horses for courses, we would never suggest to someone that they should change a consumers unit because they don’t have the expertise etc. it’s no different with tax. Accountants have the skills, knowledge etc to provide a legitimate tax return, which maximises the tax laws in my benefit.

My accountant charges £300.00, but I keep my accounts in a good order and provide him with copies of purchase invoices, sales receipt, mileage travelled, bank statement etc. If I just dumped everything on him, I am sure it would be considerably more.

I have had accountants before, and they have just done there bit and that was it. This lad goes the extra mile.

Ian

 

[telectrix]

good when you can find a good accountant. the last one i used did save me £600 in tax, but charged me £450+vat!!!

 

[Sparky Ninja]

Anyone else not done thiers yet?

 

[derek preece]

Doing mine tomorrow, definitely, not going to put it off again! Though I did find it so much easier to do it last year with a spreadsheet, rather than trying to calculate it on scrappy bits of paper which gave me a banging headache.

 

[sparky1502]

i did mine yesterday but just got to send it through...i don't know what happened between April 09 and April 10 but i must have had a dickie moment were i decided i didn't need to write down what work i completed !!! so i've spent the last 2 weeks running round looking at statements trying to work out what work i did.....needless to say i am not doing that this year....

 

[Sparky Ninja]

Well sorted out the wifes and sister in laws tonight, and hope to get mine done through the weekend sometime.