Tax Returns

So the accountants emailed me on Friday 8th June to say they posted my “accountants certificate of confirmation” and certified SA302.

As it hadn’t arrived by Tuesday I just drove to the accountants office and collected a copy.

But now I am feeling slightly worried that their original letter still hasn’t arrived.

Is an accountants certificate of confirmation and my SA302 sensitive information?
Should I chase this up with them, ask for proof of postage? Should they of posted it recorded or special delivery?

From aqa:

Tax question. I, and my partner, left our jobs in August last year. Presumably we are both owed a bit of cash money care of HMRC. I was hoping it would just go into our bank account. It hasn't. Anyone gone through this process before, and/or should I just call them? We don't live in the address we did at the time (currently not based in UK).

Do the self assessment form, wait for money, profit?

googles

Thanks!

Anyone got reccos for someone to give me some tax advice? Or can I ask here? Thanks

It would depend on the type of advice you are looking for.

You should note that HMRC use bots / search engines to find interesting bit of information they can use to get more money from you... \tinfoilhat

A question around going over a certain point of salary and losing your £11500 tax free allowance - and whether you can offset this by increasing pension payments to bring you below that mark.

https://www.gov.uk/income-tax-rates/income-over-100000

then

https://www.gov.uk/guidance/adjusted-net-income#what-is-adjusted-net-income

Yeah that’s what I have read - I suppose I wanted advice on if there were other or better options than just putting anything over that number into pension.

Set up Tenderloin Charitable Trust then donate to it, using the gift aid to lower your Net Adjusted.

Sounds like an excellent plan.

My fee is £100k

I'll tell you the same for 5k.

Damn you Snotters

getting 40+% relief and avoiding national insurance is a pretty good deal though

I'll tell you the same for free but value such pro bono advice at £20k in order to offset future gains.

#winningattax?

Ok, I'm about 3 pages into my self-assessment (for 2017-2018) and I'm already confused. I'm registered as self-employed (rather than a sole trader, I believe, although I'd really like to check that). In section 3 the form asks:

"How many self-employed businesses did you have?", which requires an answer of 1, 2, 3 etc. (no option for zero)

... and in section 4 it goes on to ask about the name, postcode, start date etc. of that business(es).

The problem is that I don't "have" any businesses, I simply do work for a couple of different companies and invoice them for it. What on earth do I fill in for those sections?

Also, "cash basis" or not?

Finally, the only expenses I incur for this work are subsistence (i.e., food) when I'm working in another city. These are reimbursed by the companies when I invoice them. Do these need to be declared as expenses and the reimbursements for them declared as income?

If you're self employed but don't have you're own ltd company you'll almost certainly be a sole trader. It's been a while since I was a sole trader (I'm self employed through a my own Ltd company) but iirc for sole trader you just put your name as the business and the business address is the same as where you live, it's all pretty straight forward. I would recommend getting an accountant though, I did my my own returns to begin with because I thought it was an worth saving the money (especially when I started out and didn't have a pot to piss in) but having someone sort all that out is well worth the money, takes all of the stress out of it.

So, doing my return for 2017-18, my self-employed income was only £400 as I was on PAYE for the main gig. There's a box that says "Was your self-employed income was £1000 or less, click yes or no".

Ticking "No" doesn't let me enter the 400 quid I billed and just skips to the end and says I only owe £8.

Is this new?

Why would you tick "no"?

Is this new?

Yes. Appeared on my return for the first time this year. I think there's some new law allowing people with small trading operations on the side to have them disregarded for tax purposes.

yep - £1000 tax free trading allowance : https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income#trade

Great! That makes things easy 😁

.

So just finished filling in my first tax return. I rented out my flat for about 10 months in 2017-2018 across 2 tax years. I am employed and pay PAYE, I've declared all income and tax paid as per my P60/P45 (switched jobs recently). I got a letter earlier this year saying I'd paid too little tax. Annoyingly I can't find it now, but I think it said this would be reclaimed through PAYE.

There total amount owed on my return is showing as about £70 higher than I thought it should be, which is presumably because of this underpayment. Do I just have to wait until my next return (which I could do in March once I have my next P60) and hope it comes back to me as I'll have repaid the defecit via PAYE and the tax return lump sum?