Self-assessment my arse

Posted by: Tim Jones on 26 January 2004

Woe is me. How the hell was I to know when I got my P60 in May last year that it was one of those....forms I actually needed to keep. And not chuck out in the course of making my flat look habitable.

Now unless I have either the P60, or (and opinion varies on this) my payslip for March 2003 (oh yeah, another thing it was really obvious I should hang on to at the time...), I can't fill in my tax return. So I'm going to be fined £100.

Having spent hours and hours on the phone to various helplines, my current employer, my previous employer, and the local tax office I now feel like a character from 'Brazil'

Does anyone have any bright ideas about how one could find out the amount of income you earned during 02/03 and how much PAYE tax you paid on it?

Tim
Posted on: 28 January 2004 by NB
Quote:-

Sadly Alex there isn't - having completed that last batch of returns it will suddenly dawn upon you that there is all the other work that was temporarily suspended whilst the Tax Returns were being processed - 28 February filing deadlines, the SA Notices of Enquiry (Capital Gains Tax seems to be the flavour for Croydon at the moment) and on it goes.

Who would want to be an accountant?
-----------------------------------------------------------


I am emigrating!



Mike,

The question is, do we want to retain clients who put us under so much stress at this time of year?


Regards

NB
Posted on: 28 January 2004 by MichaelC
quote:
Originally posted by NB:
The question is, do we want to retain clients who put us under so much stress at this time of year?


NB

The answer is: a) yes if they provide significant other fees at other times during the year b) yes if they pay a premium for the January aggravation c) no when we can afford to say goodbye to them.

I guess c) is a trade off between income and quality of life. In fact our tax dept would give a different answer!

Mike
Posted on: 29 January 2004 by NB
I still have another ten Tax Returns to do assuming there are no more coming in today or Tomorrow.

Looking back I have done about 120 Tax Returns in January, the majority have not provided any additional income. I have charged 8 of these a "reasonable" fee. Of-set this against struggling to get anywhere near the gym this month, have been handling 30-40 phone calls a day and have made endless journeys to pick up clients Tax Returns as I can't rely on the Post Office. On top of this I have been trying to move house, have a family to look after and its fair to say January has been a stressful month.


The best thing is we get to do it all again next year!


Regards


NB

Still p****d off with Tax Returns!
Posted on: 29 January 2004 by Rasher
Last year I swore that I would hand my tax return accounts in just after the end of May. However, he's doing it today.
OK...Next year!
NB - How long do you spend on each one, and do you end up "rounding up" after the first few hundred returns? Smile
Posted on: 30 January 2004 by NB
Rasher,

I have had another two come in this morning. Talk about cutting it fine!

It can take between ten minutes and a few days to complete a tax return depending on how difficult it is!



Regards


NB
Posted on: 30 January 2004 by Berlin Fritz
Just been informed of a luvvly jubbly rebate, Antigua's lovely and the sailing's magic, but it's Oh so boringly Bwitish, I reckon I'll sort out something more adventurous when I get back innit.
Fritz Von Comingandgoinglikeayoyo Smile
Posted on: 02 February 2004 by NB
2nd February and not a Tex Return in sight,


YES!


NB
Posted on: 02 February 2004 by Derek Wright
NB

So how much would it cost to get an accountant to fill in my tax return - just asking out of curiosity

and how simple are some of the returns ie how many categories, number of investments etc do you have to report.

Derek

<< >>
Posted on: 02 February 2004 by NB
Derek,

As Alex suggests a Tax return can cost upwards of £50 + vat depending on the complexity of the Return.

Some a re very simple and have a single source of Income, others are considerably more complicated with multiple sources of Income. My averages are between £100 to £250 a return. I tend to charge more for Capital Gains etc.

My easiest this year were a few that had absolutely nothing on them up to the most complicated that took about three days and get continued advice all year long.


Regards


NB
Posted on: 02 February 2004 by Derek Wright
THanks both of you - I now will feel less bad about the half day of agony and anger that I go through as I collate the various dividend slips. I have a capital gains process to look forward to as well this year. I did manage to navigate throgh a capital gains form last year.

Guess I can go out now and buy some more CDs based on the accountants fees I am saving. <g>

Derek

<< >>
Posted on: 03 February 2004 by NB
Quote:-


I have a capital gains process to look forward to as well this year. I did manage to navigate throgh a capital gains form last year.
______________________________________________________________



If your going to do it yourself Derek make sure you claim everything your entitled to!

If you need any help then please don't hesitate to Pt message me for any help.


Regards


NB
Posted on: 03 February 2004 by Derek Wright
NB

re Capital gains tax

Thanks

Derek

<< >>