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Original poster

How the fuck do I pay my tax bill?

143 replies

GeorgieTheGorgeousGoat · 30/01/2021 11:55

Every year I go around in circles!!

Where is it?

Please help! I am logged in and it’s like a magic trick with no end 🤦🏻‍♀️

OP posts:
DicklessWonder · 31/01/2021 10:55

@YeOldeTrout

How much would an accountant charge -- I imagine £1000 minimum.

DH hates me paying anything in advance, or I would have paid the bill the moment I worked out the amount (October). I kept many copies of the instructions and still had to hunt around with great stress to figure out find the right links and exact instructions, in early January.

£1000!!!

Mine charges £120 plus vat to do the self assessment return.

Blerg · 31/01/2021 10:56

Haven’t read full thread. I pay my accountant £350. I basically do the accounts in excel and she does the return.

I paid by bank transfer this morning and it’s has left the account.

I don’t usually wait so long but this year has been - well, you know!

Horizons83 · 31/01/2021 10:57

@PhilCornwall1

My first year of self employment was 2003/4. I still have a vivid memory of sitting at our kitchen table in January 2005 writing out the cheque with tears streaming down my face.

My mum was very Hmm and reminded me that all of the money I had saved up to pay the bill had been sitting in a high interest account for months, unlike her PAYE which was taken before she saw it! Grin

Turnedouttoes · 31/01/2021 10:59

Apologies, we had been told by our accountant that we had until the end of February to pay our bill despite our tax return being complete weeks ago.

We also pay him £500 for the privilege of incorrect information it seems and he doesn’t ever seem to save us any money so I imagine we’ll be looking for a new one next year.

Ch3rish · 31/01/2021 11:06

@Turnedouttoes

Apologies, we had been told by our accountant that we had until the end of February to pay our bill despite our tax return being complete weeks ago.

We also pay him £500 for the privilege of incorrect information it seems and he doesn’t ever seem to save us any money so I imagine we’ll be looking for a new one next year.

That's really bad, it's been made quite clear that the Feb date is for the £100 penalty only. Time for a new accountant
Ringonrighthand · 31/01/2021 11:09

@Turnedouttoes

Apologies, we had been told by our accountant that we had until the end of February to pay our bill despite our tax return being complete weeks ago.

We also pay him £500 for the privilege of incorrect information it seems and he doesn’t ever seem to save us any money so I imagine we’ll be looking for a new one next year.

Yes I think it's a good idea to find someone new!
Oblomov20 · 31/01/2021 11:10

I've been doing accounts for years and I find HMRC website hard work. It's lack of visibility on 'payments on account' is poor.

Original poster
GeorgieTheGorgeousGoat · 31/01/2021 11:11

@RedWelliesAreHot

You didn’t answer my question?

OP posts:
toastfiend · 31/01/2021 11:11

I got an accountant to do mine. £200 and it completely took the stress out of it. The largest quote I had was £450 from a larger firm, when I was looking for someone to do it. It's such a relief and worth every single penny because they just tell me how much and how to pay it and I don't think about it otherwise, other than sending across my invoices/expenses/receipts etc.

I have to say, I don't find the new Government Gateway account too difficult to navigate, though. The old one was an absolute shocker and I could never find anything, but this one at least seems vaguely intuitive, although perhaps that's just because my brain works oddly.

MaelyssQ · 31/01/2021 11:15

Damn I thought this was a begging thread! Grin

superduster · 31/01/2021 11:17

DH's company charges around £200. If you have problems every year why have you left it to the last day though?!?

Pinkandwhiteblossom · 31/01/2021 11:17

@WantChewbaccaForGood

"Tax doesn't have to be taxing" - then WHY IS IT????
A thousand times this!! That ad makes me very irate.
Twospaniels · 31/01/2021 11:18

We stupidly discovered that the bank account where we save money to pay the tax bill, only allows payments out of it to a nominaed account. So I have had to transfer the money to my nominated account and then I will transfer it to HMRC. However, that means I will be late paying as the money won’t be in my account until Monday now.
I have paid just under half of the tax bill though with money taken from another account.
My own silly fault for not realising the clause on the account I save into. ☹️
Does this mean they will charge me a bit of interest for late payment? Will it be on the whole amount or just the bit I still owe (as I have paid some)?

onemouseplace · 31/01/2021 11:21

It's not very obvious, is it?

It turns out DH didn't make a payment on account due last January (our accountant told us that nothing was due) which has been merrily accruing interest since then - first we'd heard of it as DH is on PAYE now and, as the July payment rolled over, we haven't logged in for well over a year now.

Horizons83 · 31/01/2021 11:24

@Twospaniels

I think it will only be interest on the bit outstanding.

LaceyBetty · 31/01/2021 11:27

I pay by direct transfer to the same HMRC account each year. Always works. And payments absolutely are due today.

Horizons83 · 31/01/2021 11:28

@superduster

Can’t speak for the OP but my tax process goes something like this:

May: Oh I’ve almost completed my tax return already. I’m so good. Now I just need to work out how much interest I’ve received this year and I can file!

May to January 25th: La la la la la la la la la

January 25th: Oh fuck! Quickly checks all bank statements, can’t log in to one bank, has to call to get access again. Right, so that was 14p interest accrued in that year.. time to file!

January 30th: oh, I need to make a payment too don’t I?

This has just reminded me, haven’t started my Q4 2020 VAT return...

LaceyBetty · 31/01/2021 11:28

[quote Horizons83]@Twospaniels

I think it will only be interest on the bit outstanding.[/quote]
This is correct. Only on the amount missing.

visitorfromtheplanetzog · 31/01/2021 11:36

Why leave it so late to file your return? You've had 9 months to sort it out. Give yourself a break next year, reduce your stress and file the return earlier.

Original poster
GeorgieTheGorgeousGoat · 31/01/2021 11:39

@MaelyssQ

Damn I thought this was a begging thread! Grin
Ah so sorry! It would have been a good one, I should have thought of that Grin
OP posts:
Original poster
GeorgieTheGorgeousGoat · 31/01/2021 11:40

I know I should file early but I’m a habitual procrastinator! I’ve even started threads on it asking for advice before. I’m never late though, I just stress myself out in the process and give myself blood pressure issues Grin

OP posts:
Morph2lcfc · 31/01/2021 11:41

When did you approach an accountant? If someone had approached us this month we wouldn’t have taken on as it’s been our busiest January ever since self assessment started due to the extra workload we’ve had during year due to COVID. People approaching us Oct or before we’d of taken on

Original poster
GeorgieTheGorgeousGoat · 31/01/2021 11:42

@visitorfromtheplanetzog

Why leave it so late to file your return? You've had 9 months to sort it out. Give yourself a break next year, reduce your stress and file the return earlier.
And also filing early still wouldn’t solve the issue that they don’t deduct your payments already made from the amount due. I don’t understand why they can’t do that?
OP posts:
LonnyVonnyWilsonFrickett · 31/01/2021 11:44

It doesn't give you the total till a few days after you've completed the return. It's still hard to find (thanks HMRC) but it will be there eventually. Not much help on Jan 31 I know...

StoneColdBitch · 31/01/2021 11:47

I am very glad I have an accountant! I still procrastinated approving my return, mind you - but it was submitted last week.