Self Assessment Tax Return

[Y Fan Wen]

Have you ever seen a happy one....?
Or even an interesting one..?!

Mine. He's widely read, an interesting conversationalist on many subjects and has written at least one book.
My books went in during July and all done and dusted by September.
He really likes timely clients and says so.

 

[Sid]

The accountants will be pleased....not!

They're usually flat out for the whole of Jan getting all the tax returns turned around, and breathe a sigh of relief on 1st Feb.

This year they won't even get that - probably be working all of Feb doing tax returns too!!

From what I have heard it has been a bigger challenge this year due to not being able to pass paper documents to assistants etc.

Has added delay to preparation

 

[farmerm]

If anyone is getting stressed at having to get their tax return done by 31st Jan you can relax for a bit.
HMRC are allowing us until the end of February this year with
no penalty.

its a bloody good job, I know it always comes down to the wire with our accounts and in the last few weeks my accountants have been having a nightmare with team members either in isolation because of positive tests or being close contacts

 

[Optimus]

My wife is a chartered accountant. An I can tell you its a nightmare for them.

Yes its online but not been able to speak directly to other members of staff is slowing the whole process up.also they can't print from home so has to be done in the office.which is fine but they are only allowed so many staff in the office at once.so they have to book a time slot to be in work.

I dislike January, not one of my favourite months!

 

[farmerm]

It's all online. I can't see why I can't get a rough estimate by July. I'm a bit cross as we've tweeked it a bit but I'm left with the choice to pay my tax tonight based on the pre-meeting numbers and wait for an eventual refund; pay something tonight and then top up when the "right" numbers appear; pay nothing and pay the correct amount middle of next week when the amended figures are done.

70p/day/£10,000 owed for late payment... think I would rather sit back for 2 weeks and wait for the correct figures that worry about £10 interest for late payment

 

[teslacoils]

Out of interest - when are your accounts usually done?

We normally meet with the accountant after autumn drilling, so late October.

 

[teslacoils]

70p/day/£10,000 owed for late payment... think I would rather sit back for 2 weeks and wait for the correct figures that worry about £10 interest for late payment

It's more the "being late" I don't like. Going to pay a chunk tomorrow, and top up on Wednesday or Thursday once correct.

 

[farmerm]

It's more the "being late" I don't like. Going to pay a chunk tomorrow, and top up on Wednesday or Thursday once correct.

I would rather arrive a little late to the right place than right on time to the wrong place

 

[Still Farming]

It's all online. I can't see why I can't get a rough estimate by July. I'm a bit cross as we've tweeked it a bit but I'm left with the choice to pay my tax tonight based on the pre-meeting numbers and wait for an eventual refund; pay something tonight and then top up when the "right" numbers appear; pay nothing and pay the correct amount middle of next week when the amended figures are done.

Just pay some awaiting correct figs. Or waiting THEIR correct calculation?

 

[Still Farming]

My wife is a chartered accountant. An I can tell you its a nightmare for them.

Yes its online but not been able to speak directly to other members of staff is slowing the whole process up.also they can't print from home so has to be done in the office.which is fine but they are only allowed so many staff in the office at once.so they have to book a time slot to be in work.

I dislike January, not one of my favourite months!

Possibly telephone, zoom ,skyp , fb messenger, whats app ,etc etc.
Better connected than ever ,so lame excuse if not in touch with each other possibly?

 

[Steevo]

If it was the other way round (tax return submitted, but tax delayed a month) it wouldn’t be an issue.

Typical government.....you must pay what you owe now, but you can work out how much you owe us and tell us that up to 28 days later!

 

[Still Farming]

If it was the other way round (tax return submitted, but tax delayed a month) it wouldn’t be an issue.

Typical government.....you must pay what you owe now, but you can work out how much you owe us and tell us that up to 28 days later!

Covid delays tell them.
They do the same to you?

 

[Wombat]

If it was the other way round (tax return submitted, but tax delayed a month) it wouldn’t be an issue.

Typical government.....you must pay what you owe now, but you can work out how much you owe us and tell us that up to 28 days later!

Yeah me and the accountant thought that

 

[Optimus]

Possibly telephone, zoom ,skyp , fb messenger, whats app ,etc etc.
Better connected than ever ,so lame excuse if not in touch with each other possibly?

They do of that.you just don't have a clue

 

[farmerdan7618]

Whilst HMRC have removed the penalty charge for late submission, there are a few things less well publicised about this.

A tax return submitted after 31 January automatically has the enquiry window extended by 3 months for HMRC to investigate, not an issue for any plain tax returns that are well within the rules, but the extra 3 months will be useful to HMRC for any that are close to the boundary.

The first round of COVID support insisted that tax returns had been filed, there was a climb down over this, but it does point to HMRC's view of late returns and the possibility of making it more difficult to access support.

Ideally the returns should go in before midnight tonight, and as an accountant I can say that I would be working today to ensure returns went in, had they not all been submitted already.

 

[nonemouse]

70p/day/£10,000 owed for late payment... think I would rather sit back for 2 weeks and wait for the correct figures that worry about £10 interest for late payment

Our accountant did say that the interest charged by HMRC (2.6%) is far less than most clients overdraft charges, so cheaper to owe Rishi than the bank

 

[renewablejohn]

Possibly telephone, zoom ,skyp , fb messenger, whats app ,etc etc.
Better connected than ever ,so lame excuse if not in touch with each other possibly?

You would think so but a recent Court of Protection hearing I had to attend the mobile signal crashed after only 3 minutes managed to re establish connection after another 5 minutes then crashed again after 20 minutes and could not be re established. Total postcode lottery whether you get justice still waiting to hear the outcome. Not everyone has a landline or good mobile and broadband access.

 

[Still Farming]

You would think so but a recent Court of Protection hearing I had to attend the mobile signal crashed after only 3 minutes managed to re establish connection after another 5 minutes then crashed again after 20 minutes and could not be re established. Total postcode lottery whether you get justice still waiting to hear the outcome. Not everyone has a landline or good mobile and broadband access.

The Court would be in a big town or city wouldn't it?
Not on a mountain or black spot?
Maybe blanket ban in Courts for mobiles for obvious reasons anyhow?

 

[Fuzzy]

I almost feel sorry for the all arable guys. They’ve not even got the expenses of shooting & skiing to wriggle through as business expenses this year either.

I know what you mean, i am unable to go on the "Growing Potatoes in a dry climate tour" this year as Lanzarote is off limits !!!