tax returns

[johnakay]

why is it that the tax office need to to change the format every year.
the ba**ard does my head in.
I tried to fill it in today day only to find they've changed it again.
why do they do this??
is there any wonder why some choose not to bother declaring any income.
does any one else find this?
last year I paid more tax than the low income earning £6.75 hr x 40
total for one year £14000 near enough and mine was just over £13000.
self employed you are allowed 7 grand before paying tax.
but employee is allowed just over 10 grand,this doesn't make sense at all.
grrrrrrrrrrrrrr must calm down john you must calm down!!!

 

[rtbcomp]

I didn't realise there was a difference between self-employed & employed.

 

[cumbriasteve]

I also thought the individual tax allowance was the same for all, regardless of employment type.

 

[Cyberprog]

It is, the £7k is the tax free personal allowance.

 

[rtbcomp]

What's the 10k John mentions? Is that the new personal allowance not yet introduced?

 

[Cyberprog]

If you were born after 5th April 1948, then 2013-2014 is £9,440 and 2014-2015 is £10,000 so I think it's gone up. (2011-2012 was £7,475, 2012-2013 was £8,105)

You are then taxed for the next £31,865 you earn at 20%, then from £31,865-£150,000 at 40%, and then over £150,000 at 45% (2013-2014)

 

[rtbcomp]

Yes, but no distinction between employed & self-employed?

 

[Cyberprog]

Nope, just that Self Employed complete a tax return using Self Assessment, and Employees have it done at source using PAYE. Your pay slips should show what tax you have paid IIRC.

 

[Paul.]

There is no distinction dependent on employment status, the personal tax allowance is the same for all subject to your age as cyberprog says.
Would suggest that the op employs the services of a tax advisor, or downloads a copy of taxcalc, for around 25 quid I do my tax return in about 15 minutes flat, worth every penny
http://www.taxcalc.com/products/list.php?productType=personal

 

[Cyberprog]

Oh, and that is shown by the tax code, and this is all true for people earning upto 100k on PAYE, at which point the personal allowance is reduced by £1 for every £2 you go over.

 

[rtbcomp]

I keep my accounts on a spreadsheet, formatted the same as the tax return - just transfer the totals over at the FYE.

 

[CompoSimmonite]

The early versions of the Self Assessment form had 56 pages ! It used to take us hours to help somebody complete one.

Paul H

 

[rtbcomp]

I remember those - you used to get a set of pages for each of your circumstances - they were murder! I tend to trim my financial activities to suit the tax return, rather than vice-versa.

 

[johnakay]

I think what made it worst is that I get a small pension and this is deducted from my personal allowance of £10,000.
sorry I've not notice this before so yes I do get the full allowance but with my small pension deducted.
if that's the case why do I have to declare it on my online form??
it says on the form state pension but can include other pensions.
I keep all paper work just in case they want to take a look in future.
I just condense all my incoming/outgoings etc.
but I always get stuck on them filling in forms.I'll have another go tomorrow.

 

[johnakay]

tried again and almost done but for this bastid ..no matter what I did it would no go past this.
I've not worked for any one but still wont go to the next line. so how do I get pass this??

ERROR: There is 1 error on this page.
The amount entered for 'If you provided your services through a service company...' is in an incorrect format. Monetary fields can only contain numbers, a decimal point and a minus (-) sign if the value is negative. Please amend.

* indicates required information

ERROR: Please amend this entry.


If you provided your services through a service company (a company which provides your personal services to third parties), enter the total of the dividends (including the tax credit) and salary (before tax was taken off) you withdrew from the company in the tax year:£

Does this return contain provisional or estimated figures? (If yes, please provide details on the next page )*YesNo

 

[rtbcomp]

it wants you to enter 0 in the field rather than leaving it blank.

 

[johnakay]

have done .0 and 00. inc 00.00 but still wouldn't accept it

 

[rtbcomp]

leave the "." out, they only want figures to the nearest whole pound.

 

[johnakay]

my son popped in and we've manage to sort it. now I've got a tax bill for £2743.92.
thats more than 20% Im sure if you take into account what I'm allowed before I pay tax .
tax code is 773.

 

[BrokenBiker]

if your tax code is 773 then you are allowed 7,730 tax free. Deduct this from you overall taxable profits, then take 20% of that final figure. Should match what your tax bill is