Tax Returns Online

[LaughingGravy]

Hi there, I was just wondering how difficult/simple it is to do your tax returns online, and how much detail they require (as in breakdowns etc) TIA

[Buenchico]

Unless you've got an incredibly complex tax situation, it's an absolute doddle. It's far easier than a paper return because the system filters out unnecessary questions,enabling you to complete the whole thing within a few minutes.

If you're self-employed, with a turnover of less than £150,000 p.a., you can opt for a 'cash basis' return, where you simply declare your net profit for the year. While, obviously, you have to do your own calculations with regard to expenses, etc in order to work out that profit, you don't need to show any of the details on the form at all. You simply enter the figure you get at the end of your own calculations.

[Peter Pedant]

erm - well for y.e. 6 April 2018 - you have to do it online as you have missed the deadline for paper by yonks

I have to say I pay someone to do mine - for a variety of reasons BUT
a) you need to apply for your UTR NOW to fill in the form by 31 Jan 2019
b) and unless turnover is large - > around £65 000, you do three line accounts which are straight forward without any supportig documents
c) PAYE only - you dont need to BUT you are asking so I imagine your income is more than PAYE

so start now
and dont stop until the taxman tells you to ( NOT that you think you neednt - you will get a £250 penalty).

The taxi men in Manch pay around £180 per form
for very simple Self-employed three line accounts

[Peter Pedant]

I agree with BC

(erm just having had to make a vol declaration to the taxman over 2012 and got screwed for unpaid tax and penalties- but it was my fault. As soon as s/o said you should have pd tax on that, I knew that I had to)

You dont send in any bits of paper
and you get your tax bill at the end

[Peter Pedant]

150k and not 65k - sozza I knew it was lots

[AuntLydia]

LaughingGravy: very easy as long as you do the prep before hand. Don't worry about anything 'breaking down' as if for any reason you lose your internet connection the page you are on is automatically saved and you can access it when your connection returns. Also you can start it, save it and come back later. Once its been sent you can also access it to edit the info.

[gingejbee]

^^^I think OP's "breakdowns" were of figures, not of internet connection....

[Buenchico]

Just a thought, LG:

If you've not already got a Government Gateway account, apply NOW for one. (It won't matter if you've not yet got your figures available for your tax return). That's because the security system means that you have to wait for an access code to be POSTED to you.

So you can't wait until the very end of January (which is the deadline for online tax returns) before applying for a Government Gateway account, as there would be insufficient time for the postal part of the process to happen. (You only have to go through the process once. In future years you can log straight into the HMRC website).

https://www.gov.uk/government-gateway

(PS: If you've already got a Government Gateway account for something else, such as if you've previously claimed state benefits, you might find that it doesn't work with the HMRC website. I couldn't get in using a Government Gateway account which was originally set up to access the DWP's services. When I phoned up to get some help I was told that, even though it's meant to be a universal system, some Government Gateway accounts won't work with the HMRC site. I was told that I had to get a second Government Gateway account).

[woofgang]

Me too Buenchico. cannot remember what my original one was for....might have been pension calculations but had to re register for tax