Sh8T Sh8t Sh8t..help with tax return im messed up!

[ToomanynewyearsROSElutions]

i filled my first tax return in in may, i 'worked out' at the time id earned a particular figure..when i filled in tax return i mistakenly added this to my previous benefits id received...this made it over the tax threshold so billed me a few hundred pounds...i realised what id done and contacted them, sent letter off last week saying figure should actually have been x not y..meaning i wouldnt pay tax....Now as im sat working out my estimated earnings for this year, im looking back and (dont ask me how i am so stupid)..the figure i actually 'earned' as in money i was paid is twice as much as i 'realsied' and sent letter about.

So my question is...the 'total income' box, should that be what ive received in wages or the money i have left when ive paid bills bought equiptment etc?

if its the money i have actually been paid then ive f*cked up big time!

sorry, if thats confusing..so say ive earned (received in payments from parents) £4000 and id put down £2000..i did actually spen the majority of my 'wages' on equiptment to start me up and buy storage/toys so on...so is the total earnings figure the figure shown once all my expenses have been taken off?

the TURNOVER bit should be WAGES then the EXPENSES bit is expenses and the NET PROFIT/LOSS is wages - expenses

Does that make sense 'chick'

ahhh now i know im talking to myself here sorry, but looking at my invoice from ILR, it says 'profit' from self emplyment £4000(made up figure), this is the invoice i initially disputed....it is then added to my beneefits which comes in over tax allowance...so does 'profit' mean how much actually went to 'me' and not on business?

Not sure hun as net profit is what you got after expenses but not sure about benefits or anything extra. LMGs has had employment and self-employment together so may know a little more about how these things work?? All I know is I had seperate tick boxes I could tick but ignored them as it was purely self employment

No..i dont have a return in front of me and cant remember what boxes i put what in.....ok real figures...they ahve me down as earning £4102=profit from SE plus £2996 Pensions and benefits...ok?...i rang them and said "oh no, i actually only earned £1490 plus benefits, is added THIS figure to my benefits to come to the wrong figure and put in wrong box...now im looking..PROPERLY..so sooo ..i paid into my bank account £4200...so do i have to tell them change THAT figure in 'profit' to £4200 or can i reduce that figure (as i may have already done on return?) including all the items i bought and paid out for???
Shit
im flapping!..it was due end of jan and i though it would be nil, but not it might really be this or more thats on my bill(not flaping too much cos i have it hear saved up, but flapping cos ive f*cked up and am so stupid)

All income goes in the first box, all expenses go in the second box

Ok will email you

Are you doing it online, if not you should register, it basically guides you with information boxes along the way, if its your 2006 return it need to be there by 31st so there is still time to get your login and password from them.

right, took me ages to write that...so they count my benefit as it self...then i earned(got paid) £4200...when i ring them up and tell them im a f*ckwit, do i give them the £4200 figure or work out (again) everything i spent/bought/paid out of that £4200???

its already in and due to be paid this month, i couldnt get online their systems were playing up for months and kept kicking me out, wouldnt even give me a password so had to fuck up_ do it on paper

i recall the boxes..so as example..i was paid £4200 and spent(way more than this setting up) or rather could claim back the percentage of things to a value of about £1500??..maybe(havent got figures here)..so do i say can you change to total income box to £2500 or the £4200??

i think maybe the easiest thing to do is pay this bill and learn from my STUPID STUPID mistakes..and beg them to not laugh at my stupidity..i could just say the correct amount was right(only £100 diff) and add that on next year?????

Have emailed you love, hope it makes it clearer, can you delete what ive sent you after.

tell them turnover is 4200, expenses are ?(think youll have to work it out again) os thy need to know how much they are and benefits are £ and they can enter thef figures in the correct boxes.

oh typed too slow

phew..calm down..deep breath so if i ring them tomorrow and say hello its stupid..can you please change it to...actually earned £4200 but expenses were xxx..can they then calculate something for me there and then and let me know as bill has to be paid at end of month?

right..THANKYOU SHOSHA..according to my new calculations..using shosha table and checking my pack from ILR(showing how much % i can claim)..the actual figure i 'earned' in that period is more or less smack bang on the new figure i gave them(meaning i 'earned' under the threshhol..i can prove all this with bills/invoices/reciepts..so shall i just chill(im probably actually earned less than ive shown but i fel stupid enough right now!)

chill now
if youre under the threshold then youre fine

Ok emailed again it is taking time to go through

worked it out that without even taking off what i bought(storage toys etc etc) just wear and tear and bills it comes to just over £2000..i must have spent £3000 easy on toys/equiptment but i know you can only claim so mcuh, so think it 'should' be ok as it is and i shuld learn from this mistake...i am modifying my own version of Shosha's table, it will make things so much easier and will def be more careful this april!..thankyoua ll soooo much!

god i too hate form filling!!!

but i did mine on-line and it really was a doddle PLUS i'm determined to not put it off and put it off this year and just get it done straight away(yeah right!!!!!)

dear god ill be doing mine ON LINE as soon as the letter hits my mat this year!!!

I say that every year, and have actually got 2007/2008 up to date as of January 1st, all i need to do is the acual sorting of the recipts bit and entering them, which is about 2 hours work, and Jan Feb March books, how much to you bet Im doing that at this time next year.

im with you Shosh!..your table is fab, ive just tried to do something similar, have put in bills, food etc from april 07 to now, put in bank statemnt records of wages(but will put actual figures in tomorrow as i earn diff to what i pay in as some weeks it carres over if they pay late)..phew hopefully panic over...if i do get questioned after being such an idiot at least now i can confidently show them where its all gone....thankyou all, i felt like crying when i first posted this

Rosie that table is part of a whole spread sheet that I do the invoices on and it goes through to the end of year, its brill DH did it for me, It is in Excel, if you woul dlik ea copy let me know. That goes for anybody else as well, but only 'IN DE CLUB'