Tax Return


Remember ignoring the request, as thought there's no way it applies to me, must be a mistake etc.

Imagine the hilarity when I got the "you're late and getting fined" notification and realised I did actually have to do one.

It got sorted, without penalty thankfully, and was to do with Child Benefit or whatever, that we received, but weren't entitled to.....so sharp got that canned!!
 
Our accountant does ours at the same time as the company tax accounts, the company pays our self assessment returns. Accountant reckons it's fine and he does the same for all their clients.
 
Did mine last week and was amazed to learn my ‘bill’ was just short of a grand (based on previous years being much higher), went to pay and it said I was £4K in credit, the bar stewards never told me that before!! Refund on way 👍👍
Put it away in savings or Premium Bonds and it will pay for your next one and more, with hopefully the odd bit extra for spending.
Our accountant does ours at the same time as the company tax accounts, the company pays our self assessment returns. Accountant reckons it's fine and he does the same for all their clients.
My previous accountant said that was an absolute no-no. My current accountant just combines the bills and says it's fine as your does.
Obviously they both can't be correct.
My instincts were that the company shouldn't be paying for my personal tax returns, but I am not, and never could be, an accoutnant.
 
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Put it away in savings or Premium Bonds and it will pay for your next one and more, with hopefully the odd bit extra for spending.

My previous accountant said that was an absolute no-no. My current accountant just combines the bills and says it's fine as your does.
Obviously they both can't be correct.
My instincts were that the company shouldn't be paying for my personal tax returns, but I am not, and never could be, an accoutnant.
Providing it’s recorded as drawings by the director, and entered on their personal return, it should be ok.

To mask it in the company trading figures is dodgy and no accountant worth their salt should be risking an investigation from HMRC for that.
 
Put it away in savings or Premium Bonds and it will pay for your next one and more, with hopefully the odd bit extra for spending.

My previous accountant said that was an absolute no-no. My current accountant just combines the bills and says it's fine as your does.
Obviously they both can't be correct.
My instincts were that the company shouldn't be paying for my personal tax returns, but I am not, and never could be, an accoutnant.

Unless the money is being taken out of surplus directors loan, it probably should be noted as a benefit in kind and be on a P11d.
 
Our accountant does ours at the same time as the company tax accounts, the company pays our self assessment returns. Accountant reckons it's fine and he does the same for all their clients.

Get your accountant to issue a nominal invoice and pay it out of personal funds , the HMRC will ask for proof eventually.
 
Providing it’s recorded as drawings by the director, and entered on their personal return, it should be ok.

To mask it in the company trading figures is dodgy and no accountant worth their salt should be risking an investigation from HMRC for that.
I think the HMRC have got bigger fish to fry.
 
Still can't get my head around paye doing a self assessment.

I think it might be the easiest way for higher rate taxpayers to claim full tax-relief on pensions and charitable donations, now that it is next to impossible to contact HMRC and get a response.

Back in the good old days, all 40% taxpayers were subject to self assessment.
 

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