Poll

Have you sent it off yet, or are you naff like me?

Yes, I'm organised and it's sent off.
53.8%
14 (53.8%)
No, it frightens me to think about it.
46.2%
12 (46.2%)

Total Members Voted: 26

Whose yet to submit their 05/06 Tax Return?
« on: November 22, 2006, 03:29:51 pm »
I've spent the best part of today going through a mountain of receipts, stapling each one to an A4 bit of paper, highlighting the dates and amounts and putting them in date order.

I've now got to type all this stuff into a spreadsheet so I can break the costs down into their various types; but I think I'll put this job off for another day.

The thing is, I have a knowledge of accounts, since I was the equivallent of payroll manager for 500 squaddies in a previous life and ran big and busy accounts.

Are you as rubbish at this stuff as me?

I'm just cr@p!

s.hughes

Re: Whose yet to submit their 05/06 Tax Return?
« Reply #1 on: November 22, 2006, 03:46:05 pm »
I do all of that in April then give it all to the accountant. He then informs me when I have to pay tax which is twice a year. Once in Jan the other in July. Thats it.

matt

Re: Whose yet to submit their 05/06 Tax Return?
« Reply #2 on: November 22, 2006, 03:53:12 pm »
I hope to get mine in by the end of NOV

all my income it worked out, just need to do my outgoing's (which is hardly anything) then pass it to the accountant and jobs done

Paul Coleman

Re: Whose yet to submit their 05/06 Tax Return?
« Reply #3 on: November 22, 2006, 04:25:05 pm »
I haven't voted on this.  The answer is no I haven't done it yet but I'm not frightened of it.  I will probably spend a day on it soon and sort it out and drop the paperwork at my accountant's place.  He will have the amount owing worked out by mid January.  I or he will then submit the return and very late in January I will pay up shortly before the Jan 31 deadline.  I have all the paperwork it's just a matter of putting it into the spreadsheet and database and printing it out.

macc

Re: Whose yet to submit their 05/06 Tax Return?
« Reply #4 on: November 22, 2006, 05:21:32 pm »
Tosh.

Get Window Cleaner Pro. I load mine daily, takes minutes to do & books up to date.  ;)

Majestic

Re: Whose yet to submit their 05/06 Tax Return?
« Reply #5 on: November 22, 2006, 05:42:41 pm »
I do my own books ( every couple of months  ) then at the end of the year fill in the online tax form . It tells me  how much  I have to pay

neil100

  • Posts: 1137
Re: Whose yet to submit their 05/06 Tax Return?
« Reply #6 on: November 22, 2006, 06:40:48 pm »
Nope.

I have sorted all the recipets outb But I have not Finalised it all.

I will probably do it Xmas week when I have the week off work.

I fill in the partenship form for me and the wife. I am registerd online so I put the numbers in on our individual Tax Returns and I am told their and then online how much Tax I have to pay.

The only reson I have not done it earlier this year Is because I have been subject to a Tax inquirery from 2003 to 2004.

Its a sore subject because my accountant put down things like Home as Office, Certain clothing under protective clothing, And other expenses. The Tax inspector will not allow what my accountant says are allowable Tax items.

So I am faced with penalty charges because my accountant as got things wrong. I used an accountant because I thought he knows what to do. But ultimatley The Tax Man holds me responsible. So I have to pay a fine for my accountants incompetence.

So I am back to doing my own accaounts.

Nel.

Moderator David@stives

  • Posts: 8829
Re: Whose yet to submit their 05/06 Tax Return?
« Reply #7 on: November 22, 2006, 06:45:02 pm »
Neil

i know protective clothing is not allowed unless it has logos on it,

But home as office , was that not allowable, i thought that was standard practice

Dave

pjulk

Re: Whose yet to submit their 05/06 Tax Return?
« Reply #8 on: November 22, 2006, 06:52:03 pm »
I did all mine in april/may time and submitted it online.
I like to get mine out of the way.

Paul

neil100

  • Posts: 1137
Re: Whose yet to submit their 05/06 Tax Return?
« Reply #9 on: November 22, 2006, 07:00:48 pm »
Yes Dave the Tax man will allow me £250 against Tax but my accountant put down £800.

The Tax man quotes a certain case that has been to court and they apply the courts ruling on the matter.

So I have to pay Tax on £550, plus a peanalty for it being wrong,plus intrest plus because its wrong they will now look up to another 5 years of my accounts. They will find the same discrepancy, So times the £550 by a Total of 6 years plus 6 years peanaltys plus intrest, I am looking at a big tax bill, All because the accountant got it wrong.

Nel.

Re: Whose yet to submit their 05/06 Tax Return?
« Reply #10 on: November 22, 2006, 07:04:52 pm »
I did all mine in april/may time and submitted it online.
I like to get mine out of the way.

Paul

Since I've paid most of 06/07 upfront, based on my 05/06 accounts, I'll be doing the same this year.


Re: Whose yet to submit their 05/06 Tax Return?
« Reply #11 on: November 22, 2006, 07:06:52 pm »
hi i dread this time of year hate doing my books though thankfully my missus is taking over the paperwork side of things so next year shoud be more organized!

Though i do use an accountant

Re: Whose yet to submit their 05/06 Tax Return?
« Reply #12 on: November 22, 2006, 07:12:28 pm »
Whats Window Cleaner Pro and how can I find it?


              Thomas

Moderator David@stives

  • Posts: 8829
Re: Whose yet to submit their 05/06 Tax Return?
« Reply #13 on: November 22, 2006, 07:45:02 pm »
Yes Dave the Tax man will allow me £250 against Tax but my accountant put down £800.

The Tax man quotes a certain case that has been to court and they apply the courts ruling on the matter.

So I have to pay Tax on £550, plus a peanalty for it being wrong,plus intrest plus because its wrong they will now look up to another 5 years of my accounts. They will find the same discrepancy, So times the £550 by a Total of 6 years plus 6 years peanaltys plus intrest, I am looking at a big tax bill, All because the accountant got it wrong.

Nel.

Yes £800 is exessive i think mine was about £260 including the phone.

Dave