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Treacodactyl

Self assessment

Done and filed for another year. It was mildly amusing getting a reminder that took the tax office over a month to post out to me after printing it. Rolling Eyes

Everyone else done theirs, if required, or are you leaving them to the 31st?
Rob R

I'm 1% done, having sat down last night to start it I realised I didn't have our tax reference number to hand, so back to it tonight.
Chez

Done, paid, ouch.
Mrs R

Not far off...should probably attempt to log in today...
sally_in_wales

did the SA months ago but had fun scraping together enough pennies to pay the tax bill for the year before the 31st. Still, highly likley that if we continue being this poor we won't owe them anything ext year, so silver linings and all that Rolling Eyes
Brownbear

They get me to do mine in April for some reason.
Fee

Done yesterday, bloody thing.
Nick

As soon as I get an activation code for my Gateway number, I'm there. All my ducks lined up. (Yeah, right.)
Pel

Did mine in July, as had to get the working/child tax credits in by 31st July, and my year ends beginning of July. Makes sense to do it then.
JohnB

I did mine yesterday, with a bit of concern that so many people would be filing online at the last minute, that it might take days to get through, but it went first time, unlike previous years!

I don't know why I leave it to the last minute when they owe me money Rolling Eyes.
Nick

Anyone know if tax is fluid over my account?

I pay PAYE, which will be 100% correct, and paid up. I also have a property I rent out, and I may have more tax deductable items than rent on this for the first year. Is that tough, or can I claim some PAYe back, if this is the case? I'm sure the system will tell me, but I figured someone might know.
pookie

Did mine in July, as had to get the working/child tax credits in by 31st July, and my year ends beginning of July. Makes sense to do it then.


If you are self-employed you can give Tax Credits an estimated figure, and you have until the 31st Jan to give them actual figures. If Tax Credits don't hear from you by then, they use your estimate as actual.

Though getting it done earlier is much more sensible, she says
Embarassed
Treacodactyl

Anyone know if tax is fluid over my account?

I pay PAYE, which will be 100% correct, and paid up. I also have a property I rent out, and I may have more tax deductable items than rent on this for the first year. Is that tough, or can I claim some PAYe back, if this is the case? I'm sure the system will tell me, but I figured someone might know.


It is for many things but I have no idea about renting. The online system does display a clear breakdown of your tax calculation so it should answer your question. I also wouldn't guarantee PAYE being 100% correct, I've found it can vary by a few pence and it also depends on the tax office having your correct tax code.
Nicky Colour it green

did mine ages ago.. as they owed me money. always makes you quicker off the mark that! Dogwalker



If you are self-employed you can give Tax Credits an estimated figure, and you have until the 31st Jan to give them actual figures. If Tax Credits don't hear from you by then, they use your estimate as actual.
[i]


Or keep asking for actual figures for two years ago when you've given them three times already. And wonder why you're sounding cross and fed up when you have to phone them again. Rolling Eyes
Barefoot Andrew

Done earlier this month; paying it + VAT tomorrow.
A.
mountain goat chick


I pay PAYE, which will be 100% correct, and paid up. I also have a property I rent out, and I may have more tax deductable items than rent on this for the first year. Is that tough, or can I claim some PAYe back, if this is the case? I'm sure the system will tell me, but I figured someone might know.

Unfortunately losses from rental income are not offset against any other income. Sad
You can carry them forward though, and offset them against rental profits next year (or the next year etc).
Gervase

P60s and signed partnership statements dropped off to the accountant this very day. Mrs R

done! Rosemary Judy

and me !

and they owe me money now, what a nice suprise !
Rob R

90% done Smile Just some zero figures to double check stumbling goat

Anyone know if tax is fluid over my account?

I pay PAYE, which will be 100% correct, and paid up. I also have a property I rent out, and I may have more tax deductable items than rent on this for the first year. Is that tough, or can I claim some PAYe back, if this is the case? I'm sure the system will tell me, but I figured someone might know.

I have asked my accountant about this issue, whether losses from my business can be used to reduce the amount I pay through PAYE as an employed person for another company? In brief, it can't. In even briefer, no.

You can only seek to optimise your spending position without increasing your overall outlay to maximise allowable costs and reduce tax liability.

caveat - not giving advice, just what I would do.

sg
Nick

You mean get my employer to pay me in carpets? Smile Rob R

Checked, done and dusted. Nothing to pay and nothing due to me this year. Nick

Done. I owed 1.60, despite making a loss. I'm sure there's logic there, somewhere. Barefoot Andrew

"Making" a loss always sounds such an odd concept.
A.
Rob R

Not really, I work very hard at making a loss Laughing Barefoot Andrew

Do you get tax relief on shortbread fingers? Laughing
A.
stumbling goat

You mean get my employer to pay me in carpets? Smile

Very Happy which would still be taxed, so NO.

What I mean is to restructure your finances so that all available allowances can be claimed through your letting business, and your private residence is not costing you money it need not cost you.

Simple really. Cool

sg
Nick

Yeah, we''re doing that as much as possible. Only haven't moved the mortgage because it would cost more to move than it would save. Rob R

Do you get tax relief on shortbread fingers? Laughing
A.

Who cares? I don't need tax releif...
gil

Done.
Apparently, they owe me 50p Confused
Having a medicinal glass of sloe gin to recover.
Rob R

50p? I thought they only dealt in round figures Confused
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