Self Assessment Tax Return

[Frankieola]

I'm doing my first ever self assessment tax return and foolishly have not been the best at keeping receipts etc.
Do you think I'd still be okay to claim for fuel if its on my bank statement as "shell", "Esso" "Tesco PFS" and "Pay at pump" etc when I don't have the actual receipts?

[andy-hughes]

You should be ok - photocopy the statements and highlight the appropriate entries and enclose them with your Return.

[Buenchico]

If you opt to use the simpler 'cash basis' method of submitting your tax return, you don't need to provide a detailed breakdown of your expenses at all. You simply tell HMRC, for example,
"Gross Income (£51,234) - Expenses (£29,876) = Taxable Income (£21,358)". That's all there is to it!

Of course you need to be able justify your figures if the tax man asks you for further information but I've never had to. So, when doing your own calculations, put down whatever you've genuinely spent on fuel and only worry about proving it if Mr Tax Man comes a-calling (which he almost certainly won't anyway).

https://www.gov.uk/simpler-income-tax-cash-basis

[Buenchico]

PS: Basing your tax return upon actual fuel expenditure (plus the costs of insuring the vehicle, taxing it, servicing it, depreciation, etc) might make sense if you're only doing a small amount of business mileage but if you're doing high mileage it makes far more sense to simply work out total expenditure on the basis of 45p per mile. It's perfectly legal to do so, even if you didn't actually spend anything like the total figure that you arrive at. (It's the way that I always do it). Remember though that you can't have both sets of perks. (i.e. you can't claim 45p per mile and then claim additionally for insurance, etc)

[bednobs]

my husband has just found out he has to do his first ever self assessment by 31st Jan!!!
I have a question though - he is PAYE, does he have to find all that info out or will they already have it? Do you have to continue doing self assessment even when the reason for you having to do it has gone away?

[Buenchico]

For Bednobs: https://www.gov.uk/stop-being-self-employed

[bednobs]

hes not self employed - PAYE. He has to do one this year because he needs to pay the high income child benefit charge for 2019-2020 but he re=-arrange pension contributions for this FY so will he still have to do a SA?

[AuntPollyGrey]

Yes -you do not need to send any receipts or indeed
books' with your return if you have a turnover of less than £125K and its usually done on line. You have to keep any receipts that you claim as legitimate business expenses in case they come and visit you. I don't keep fuel receipts, jesus I'd have to have a separate room for them -just download the bank statements showing the debits. its a bit early to do your 20-21 Self assessment though -and a bit late to be sending in the 19-20 one!

[Buenchico]

My understanding, Bednobs, is that he'll only need to complete a self-assessment tax return on the one occasion.

In order for your husband to submit his tax return online, he needs to get a Unique Tax Reference which, for security reasons, is sent by post and can take up 10 working days to arrive. He'll then need to get an activation code for his account, which can take up to 7 working days to arrive by post, before he can actually submit his return. So, if he hasn't even got a UTR yet, he definitely needs to get his skates on!

https://www.gov.uk/register-for-self-assessment/not-self-employed