mikef04

iTrader: (7)

hi ppl, am after getting someone to do my tax return as my usual bod had dissapeared from the face of the earth, let me kno what ya need etc...

cheers mike

Phil

Are you self employed ?

If not just complete it online its easy

mikef04

iTrader: (7)

yea on the CIS or whatever it is they've changed it to, tried online once before found it a bit of grief.lol have already got tax reciepts as this my first time of having tax stopped by main contractors as i used to pay it all my self,

cheers

Ms Gooner 1

I did my mates tax return back in January. It was a bit of a nightmare, mainly because i left it to the last minute - but made two piles, one for incoming, one for outgoing - filled in the boxes and got him a £650 tax return!
Give it a go online - you might surprise yourself. OR, if you work out the two piles - call the helpline number and they'll talk you through it

mikef04

iTrader: (7)

you sure its that easy lol although a tax rebate wouldn't be a bad idea

Budgie

iTrader: (4)

it certainly beats paying someone else to do it
if you are a sole trader and have kept good records
it should be easy enough

BeeSTi

UK taxation software - TaxCalc

Found this the most useful Mike, I have been using if for about 7 years now and have saved a lot of time and money, it's fully interactive with HMRC on line filling as well, once you get used to it, it also imports from the previous years return, so next years even easier.






Darren

Gangsta Smurf

it's not easy at all ... get it wrong and the fine you will be landed with could be huge as they are able to backcharge a mistake and assume you made it every year. def worth the small amount of cash outlay to get it done by a professional, especially if you aren't happy with how the system works.

Nurse Gladys

Hi - give it a go yourself - anything you get stuck on or are unsure about give me a shout (not allowed to actually 'do' someones return for them due to my previous employment with HMRC) if it's something I can't help you with I can give you the number of a man who can.

You can (if you really feel the need / urge) attend a FREE workshop run by the Revenue's Business Support Team, which shows you how to complete your return - these really are genuine people (Business Advisers) who want to help you even though they work for the tax office! I should know - I looked after 12 of them!!

They don't report back to the rest of the office and say what you may / may not be doing wrong, they just point you in the right direction & are always at the end of a phone to help.

If you let me know which area you are in I may be able to find the number of a Business Adviser in your area.

Good Luck!

mikef04

iTrader: (7)

thanks for all the replies, scooby blue wrx i'm in chelmsford only thing i'm confused with is how rebates work, as this is the first time i have had my taxed stopped, but i still have invoices etc from private jobs and other companies which i have supplied all so i have tax paid and tax to pay. cheers mike

Nurse Gladys

Hi,

Not very easy to explain on here but I'll try;

You need to work out all your income (including the work you've had CIS deductions on - the gross amount / invoiced amount) and work out all your expenses, tools, materials, motoring etc.

Deduct the expenses from your total income which leaves your net profit. This is the amount you will be taxed on, however you have already paid some tax on CIS; your tax will be worked out on your net profit, after your Persoal Allowance (the tax free amount everyone is entitled to) & then what you have paid will go as a credit against what you owe.

If the CIS deductions are less than what you owe you will need to pay the balance, if the CIS deductions are more than you owe you will get a refund!!

Hope that explains a bit better, as before, happy to help!

Arkwright

iTrader: (3)

And breathe

Budgie

iTrader: (4)

bang on and easy peasy if you have kept your records in good order
gangsta only finds it hard because he earns so much that there arent enough boxes on the form for zero's

Tiny

**Cough**CASH**Cough**

Must admit i agree with GS & let my accountant deal with all my returns

But some great advice has been given

Budgie

iTrader: (4)

sorry mike but you have to declare all proceeds from private work
even if you are paid in cash by the client
i am shocked that tiny would suggest anything else
i am sure YUM will back me up on this

yellowvanman

Absolutely!

I too am shocked, Tiny

Fortunately none of my customers has ever paid cash, as backed up by the lack of cash deposits into my bank account.

Budgie

iTrader: (4)

i for one was pleased when the money laundering rules came in to force
any deposit over 1k in cash had to be registered
stops all that skullduggery
i do know that some people see this law as a means to waste money
on silly things like high performance car modifications
but their days are numbered

Tiny

Nurse Gladys

I think there is a little confusion here;

I think when the OP said he had invoices from his private jobs, he meant those where no tax was deducted under CIS (ie jobs he has done for Mr & Mrs A N Other).

The confusion is between Private Jobs & Cash jobs (no paperwork at all for cash jobs.....)

Also, the money laundering is actually £10k rather than £1k, which means a lot more mods....................!

mikef04

iTrader: (7)

thanks for all the advice am going to give it ago tonight, mike

Tiny

Arggghhh ta for clearing that one up hill's , that's where i been going wrong !!