Talk

Advanced search

This topic is for discussing childcare options. If you want to advertise, please use your Local site.

Are u preparing tax return?

(13 Posts)
Suzycb Sun 07-Apr-13 09:37:03

Though I've accountant, I like to do books first before sending everything. I received a huge bill ever £12000.00 last year and after questioning tax office they sent me back a little over £2000. The reason for large tax was due to years back of not paying the right taxes they said! So I've always had a separate account for taxes or set up a direct debit with them so that when tax bill arrives it doesn't shock in the system although some rare occasion you're paying wrong taxes & this isn't your fault. Another bill to worry about!

MrAnchovy Sun 07-Apr-13 12:02:03

You have an accountant but you haven't been paying the right amount of tax? And you had to sort out a refund with HMRC yourself? What did your accountant have to say about this?

Suzycb Sun 07-Apr-13 12:22:36

When I received another tax bill last year they looked into it & advised me not to pay as I don't owe anymore until 2013.

Runoutofideas Sun 07-Apr-13 12:30:03

Think you need a new accountant suzycb! That bill is ridiculous - unless you are operating a hugely successful business! If you have had the accountant over the years of the so-called underpaid tax, then they should have sorted the mess out for you.

Suzycb Sun 07-Apr-13 12:41:24

My eldest recently qualified as a junior accountant so I think I need to persuade him to take me as his client soon. Lol

Brownowlahi Sun 07-Apr-13 16:33:58

Hi, I do all my own accounts and tax returns. I use the Ncma account book and try to keep it up to date every month. I think it's quite straightforward to do and there is a page at the back which gives step by step instructions to work out gross and net pay. I find if I keep up to date it isn't a big hassle and I'm now waiting for Hmrc to send out my tax return paperwork. (Although I've been told I could do it on line if I wanted). I would be well miffed with the accountant that left me with a bill of that much!

Booh Sun 07-Apr-13 18:13:37

Twelve thousand pounds tax, how much do you earn?

Blondeshavemorefun Mon 08-Apr-13 20:37:48

£12k tax bill shock that means you must have been earning over £48k after expenses - rough guide as tax bill is meant to be just under 1/4 of what you earn after expenses

i would fire your accountant - how the hell did he manage to cock up so badly hmm

Akasa Tue 09-Apr-13 20:44:57

However good your accountant is, she/he can only prepare your accounts for submission to HMRC based on the information and records provided. Please do not judge the accountant unless you can be sure the "input" encompassed everything. Whilst any decent accountant will ask about things the "client" may not think are important, if things are withheld or not forthcoming, it it not possible to present the proper picture.

MUM2BLESS Thu 11-Apr-13 11:25:37

Thanks some good advice given. Twice I did mine in January. Would not recommend anyone do it so late.

MUM2BLESS Thu 11-Apr-13 11:28:12

Paid the tax return which was a bit heavy. Paid too much. The online system gave me back quite a bit. Had to wait weeks for the re payment. Had to call a few times before I got it back !!!shock

Blondeshavemorefun Thu 11-Apr-13 12:59:51

waiting for my gateway password as cant rem it sad then will do online

MNPin2013 Tue 16-Apr-13 23:57:51

Online is so much easier than the paper form I found early on.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now