Tax Self Assessment: Bunch of Arse

[Tesco in Disguise]

ha ha ha. i completed my tax return years ago.

 

[El Presidente]

Q. What do accountants use for contraception?

A. Their personality

 

[Cian]

Do you all have to file full tax returns in the UK?

I've never had to do anything more than ensure my employer has the P45 from the last job I paid any tax on... PAYE handles the rest with no forms to fill out.

Although I'm sure its hell for HR departments instead

 

[El Presidente]

You only have to fill in a tax return if you are (a) A higher rate taxpayer or (b) A director of a company, or (c) you get picked out at random.

Self assessment is easy money for the accounting profession as most people are scared of the intimidating looking forms. It is however quite easy to do online, and it calculates the bill for you.......provided you have the password!

 

[seagull over sevenoaks]

I'm a higher rate tax payer, but earn no interest on savings. I have a car allowance that is taxed through PAYE, i've never had to complete a self assesment form.

SHould I contact them to ask for one, or as I've been advised - stay below their radar?

I reckon I would probably make a bit of money back but not sure..

 

[El Presidente]

You only have to complete a tax return in your position if you earn in excess of £100k

 

[Bluejuice]

Count yourselves lucky it is all done online now. In the days when it was all manually processed the Revenue would frequently just lose Tax Returns, with no excuses or explanations, you just had to do it again.

I've yet to encounter a more inept government department (and there is stiff competition).

I'm just glad I don't work in accountancy anymore. January is truly horrible for all involved

 

[The Auditor]

.

Self assessment is easy money for the accounting profession as most people are scared of the intimidating looking forms. It is however quite easy to do online, and it calculates the bill for you.......provided you have the password!

Cut it out El Pres ...you'll do us out of a job.

You should be telling the public about those nice self assessment investigation cases where poor old Joe Public is tortured by the nasty Inspector of Taxes

 

[The Auditor]

I'm just glad I don't work in accountancy anymore. January is truly horrible for all involved

Not a nice time of year for us Accountants invoved in tax return work but at least the Albion are doing nicely and keeping stress levels down

 

[El Presidente]

Cut it out El Pres ...you'll do us out of a job.

You should be telling the public about those nice self assessment investigation cases where poor old Joe Public is tortured by the nasty Inspector of Taxes

I have always found the tax authorities to be very pleasant.

Anyway I am too busy trying to scare the living daylights out of listed companies who have done sweet FA for IFRS compliance, as well as keep up to date with the sex life of GP.

 

[The Auditor]

, as well as keep up to date with the sex life of GP.

More scary than any Inspector of taxes investigation

 

[Deano's Right Foot]

I'm a higher rate tax payer, but earn no interest on savings. I have a car allowance that is taxed through PAYE, i've never had to complete a self assesment form.

SHould I contact them to ask for one, or as I've been advised - stay below their radar?

I reckon I would probably make a bit of money back but not sure..

If you make contributions to a personal pension scheme then it might be worth doing a tax return, as you will (I think) get 40% tax relief on your pension contributions instead of the 22% calculated when you contribute.

You should get £180 back in tax relief for every £780 you contribute to your pension. I'm not an accountant though, but I think that's correct...

 

[El Presidente]

Yes you are correct. Also if you give any money to charity via Gift Aid you can get a rebate of the tax difference (40-22%) on that too.

Hello ladies by the way, Accountants talking TAX on the internet, gussets moist yet?

 

[somerset]

Not only have i still to do mine, I have been ignoring a demand for a £107 underpayment from last year, that is until I got a summons to court this week ( bollocks), just payed swiftly online and am franticly searching for my p60 and p111d as we speak.... double bollocks.

 

[The Auditor]

Not only have i still to do mine, I have been ignoring a demand for a £107 underpayment from last year, that is until I got a summons to court this week ( bollocks), just payed swiftly online and am franticly searching for my p60 and p111d as we speak.... double bollocks.

less time tipping winning horses and more time dealing with your tax affairs !


If you complete it before September 30 (I know its too late this year) they will on request recover underpayments via your PAYE coding and save you that nasty arrival from postie.

Once you have done you tax return...any tips of the Cheltenham festival?

 

[seagull over sevenoaks]

thanks for the advice..

I have a mate that informally advised me to not submit anything to avoid the hassle but other people have been saying that I should to claim back a mileage top up (my company only pay 15p) and the depreciation on my car (its mine and i use it for work use)

is it time to find an IFA?

 

[El Presidente]

You can claim 40p for BUSINESS mileage (which does not include travelling to your normal workplace), but that includes depreciation on your car. Therefore if you have done 5000 business miles it's (5000 x 22% (or 40% if a higher rate payer) x 25p (difference between what you are entitiled to and the 15p you get from your employer) = £275 (or £500 if a higher rate payer). Worth the effort!

In theory if you have taken out a specific loan for the car you could try to claim for the interest on that too

 

[The Auditor]

thanks for the advice..

I have a mate that informally advised me to not submit anything to avoid the hassle but other people have been saying that I should to claim back a mileage top up (my company only pay 15p) and the depreciation on my car (its mine and i use it for work use)

is it time to find an IFA?

You are probably missing out...if you do a lot of genuine business mile you can use the Revenue approved Fixed Profit car scheme ( covers all motor expenses inc car capital value ) and claim 40p a mile for the first 10,000 then 25p (less what you have received from your company). You would need evidence of your business mileage.
It might be worth taking some advice from a local accountant....if you decde to make sure you get a fixed price for any work they are going to do.

 

[The Auditor]

You are probably missing out...if you do a lot of genuine business mile you can use the Revenue approved Fixed Profit car scheme ( covers all motor expenses inc car capital value ) and claim 40p a mile for the first 10,000 then 25p (less what you have received from your company). You would need evidence of your business mileage.
It might be worth taking some advice from a local accountant....if you decide to make sure you get a fixed price for any work they are going to do.

beaten by El pres

 

[El Presidente]

beaten by El pres

No problem, you were probably WORKING doing tax returns whilst I am busy sponging off the taxpayer working in the public sector