Just a reminder you've only 33 hours left to submit and pay your Self Assessment tax
As we're a UK forum, I figured I'd throw it out.
I'm also quite proud as this is the first time I've submitted it with more than a few hours to spare. I had it all done a fortnight ago smug mode activated.
Who is going to be up late tonight desperately trying to find out how much taxable interest that savings account you'd forgotten you had with 50p in it has generated? Only took me a decade of practice to get all my ducks lined up weeks beforehand.
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
why leave it so late?
Mine are always done by Nov latest
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
Erm.. These self assessments are only if you are self-employed, right? lol
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
Had mine in away back in August!
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
Quote:
Originally Posted by
Macman
Erm.. These self assessments are only if you are self-employed, right? lol
No. You are entitled to complete one as PAYE, and in some cases you are required to, but for the average PAYE worker you don't need to.
People typically fill them in when in more complex scenarios - either because HMRC requires you to or because they want to. If you have significant income outside your job for instance, or if you're reducing your tax bill by paying into a SIPP or more exotic investments. I usually do it so that I know I'm paying the right amount of tax - HMRC always get it wrong on the first occasion.
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
For some reason it takes at least a day for the thing to process after being submitted, before it says you have to pay. Then after you pay, it takes days for the payment to show up.
Also, if they haven't changed it since last time I checked, if it's your first tax return, you have to wait for some stupid code in the post. Everything to do with tax in this country is thoroughly horrible.
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
Quote:
Originally Posted by
Jonatron
For some reason it takes at least a day for the thing to process after being submitted, before it says you have to pay. Then after you pay, it takes days for the payment to show up.
Also, if they haven't changed it since last time I checked, if it's your first tax return, you have to wait for some stupid code in the post. Everything to do with tax in this country is thoroughly horrible.
I think you still do. To be fair though, the gov.uk website is actually pretty good - I was impressed at the amount of info you can get on there regarding qualifying NI years, amount of tax paid, and it was updated very rapidly. OK, it's still not quite there, but it's much better than I would expect it to be.
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
I've always expected I'd end up having to fill one in. Somehow never happens. Wonder what the threshold is when they start requesting it? Certain income level/Taxable benefits etc
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
Quote:
Originally Posted by
Zak33
why leave it so late?
Mine are always done by Nov latest
Why so late, I usually do mine by the end of May :). (I see your smugness and raise it :))
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
Quote:
Originally Posted by
Macman
Erm.. These self assessments are only if you are self-employed, right? lol
No, but many/most employed people don't need to, UNLESS your finances imply unpaid tax. This can be due to all sorts of things, like income from property, or from foreign investments, or if you're a company director, or .... etc.
Most companies paying dividends deduct Income Tax at basic rate and pay you net. However, if yoy're a higher rate taxpayer, odds are that means you should be paying the different between basic rate and the band you're on.
I'd bet that, statistically, if you're basic rate and employed you PROBABLY don't need to do one, but it depends on your specific circumstances.
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
Quote:
Originally Posted by
Zak33
why leave it so late?
Mine are always done by Nov latest
One of my companies accounts aren't done until end of Dec.
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
Quote:
Originally Posted by
peterb
Why so late, I usually do mine by the end of May :). (I see your smugness and raise it :))
it takes ages to get statements for mine or it would be done Apr 6th ;-)
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
Quote:
Originally Posted by
TheAnimus
One of my companies accounts aren't done until end of Dec.
Doesn't your company give you a P60 at the end of the tax year. (If you are a ltd company - and if not you must know what your withdrawings are at the end of the Tax year)
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
Well, seeing as I work in an accoutants preparing tax returns my week has been pretty busy.
But I don't think I'll be working late tonight. I've done all the chasing already and if my clients haven't returned the forms today they have no one to blame but themselves. They've been well warned.
That sounds callous but as the 3 of us do over 900 self assessment returns whilst also doing payroll and corporation tax it's all about getting the work in early.
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
I logged in on Sunday only to see a message that I no longer have to fill mine in. Very happy indeed :-) I hate the process its an awful website to navigate. Thankfully it's finally over for me.
Re: Just a reminder you've only 33 hours left to submit and pay your Self Assessment
It used to take me a while to get my P11D issued - as I've gone limited company now, I have a whole different set of fun and games to deal with !