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Original poster

How is your tax return coming along?

48 replies

BettyfromBristol · 04/01/2022 22:12

Just that really. Mine is mostly there, complicated by lockdown last year but all in hand I think. DH kindly does it as I am haphazard and find it the most boring part of running a business. He is meticulous and keeps on top of it all through the year. I bake his favourite cake when it is done.

OP posts:
Fabpinky · 04/01/2022 23:21

I’ve done mine but not submitted it. I earned less then £1000 and declared this on the form but it’s still telling me that I owe £56. Any ideas?

foodaddict21 · 05/01/2022 00:28

@SilverHairedCat

I started part time SE work in Jan 2021, so I'm v confused! Do I only need to submit for Jan-Apr 2021?
Yes, but only if your SALES (I.e. not your profit after expenses) was over £1000.
foodaddict21 · 05/01/2022 00:31

@Readthestandingorder

May I ask a question? I earned £750 last year on top of my salary (that I obvs paye for). Do I need to contact them about the £750 conference fee? I've been putting off thinking about it, so I do apologise.
As long as that was all you invoiced for, then it's under the £1k trading allowance so nothing to do here. However, if it was - for example - £2000 you invoiced, then took off £1250 for expenses, you do need to do a tax return.
foodaddict21 · 05/01/2022 00:32

@loveisagirlnameddaisy

That's not technically correct. PP only needs to register if they made £1000+ of sales in a tax year.

foodaddict21 · 05/01/2022 00:37

@Fabpinky

I’ve done mine but not submitted it. I earned less then £1000 and declared this on the form but it’s still telling me that I owe £56. Any ideas?
Then you don't need to include it on the tax return - assuming the figure less than £1000 is your actual sales. If it's your profit after expenses, then you need to put in the total sales figure & the expenses figure. Or alternatively you can include, for instance, £800 of sales & £800 of expenses, or trading allowance. I haven't used the govt gateway so unsure how it deals with this scenario - we use tax software at work.
SequinnedShawl · 05/01/2022 01:49

April here too. Grin

scurryfunger · 05/01/2022 02:07

Quickbooks makes it a lot easier!

BarbaraofSeville · 05/01/2022 07:28

I did DPs between Christmas and New Year. It was very easy as he spent all of 2020/21 on a single building site instead of his usual mix of freelance and PAYE for multiple clients in more than one industry.

Even better, I'd forgotten about the impact of his CIS contributions, I expected that he'd owe about £2k in tax and NI and in fact he's due a refund of £500!

ponkydonkey · 05/01/2022 07:36

I completed mine back in June but will wait till the 30th of Jan to actually input it

I like to check it with fresh post Christmas skint eyes 👀

Fabpinky · 05/01/2022 08:07

@foodaddict21 thank you - yes the website it’s a yes no button option for if you wanted more than £1,000. I clicked no but the end result was still to pay £56. I’ll call them!

TrickyD · 05/01/2022 08:43

Signed the returns sent by the accountant yesterday. Will pay today. Gulp.

SedentaryCat · 05/01/2022 09:04

Tax return by the accountants. Paid the bill yesterday. DH still has his to pay...

SpindleyCrow · 05/01/2022 09:10

I need to do mine and pay my voluntary Class 2s. Always leave it late. Always. I annoy myself.

Readthestandingorder · 05/01/2022 09:12

Thank you everyone who replied over night. My £750 was a £750 invoice for teaching / webinar. That's all that was on the invoice and all I was paid. From your feedback, it seems that this comes under the £1000 threshold. I need to get better at this for next tax year, as I will be over this threshold slightly. I'm very grateful!

BuanoKubiamVej · 07/01/2022 07:38

Still haven't done anything. Will try to gather the mental strength to tackle it over the weekend.

TrickyD · 07/01/2022 10:30

Apparently inland Revenue have extended the 31 January deadline until February 28.
I paid the surprisingly large amount worked out by the accountant this morning and feel very virtuous.

foodaddict21 · 07/01/2022 11:15

@TrickyD

Apparently inland Revenue have extended the 31 January deadline until February 28. I paid the surprisingly large amount worked out by the accountant this morning and feel very virtuous.
Technically the deadline is still Jan 31st, but you won't be charged penalties for a Feb submission. You will still be charged interest however, if there is any tax due.

Great that yours is done though! 🙌🏼

MarshaBradyo · 07/01/2022 11:16

Done, phew.

Redcrayons · 07/01/2022 11:18

I’ve submitted but realise I forgot to put the WFH allowance in and now I can’t work out how to change it.

Perihelion · 07/01/2022 19:58

Redcrayons wait 48 hours and then you can get back into your return to amend.

BuanoKubiamVej · 14/01/2022 20:57

All done! As always, it wasn't as bad as I feared once I got started. Hope everyone else is ok.

MrsDThomas · 14/01/2022 22:31

Doing mine on Saturday. It will take all of 30 minutes

anotherchocolate · 14/01/2022 23:12

Did mine tonight. Will have another look at it tomorrow then submit. The least fun activity!

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