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Original poster

Inland Revenue help please

9 replies

forsale · 05/08/2007 22:22

I hit a real block when it comes to matters regarding the IR - they literally terrify me and I keep putting my self assessment on the long finger (stupid i know but I cant help it), Anyway Ive bitten the bullet tonight and printed off a 2005/06 return . Thing is I did a few weeks freelance work during that period which I simply submitted an invoice each week and they paid me a cheque. Possibly only amounted to about 4k plus any tax on interest on savings (already paid tax automatically). So the Self Employment pages are enormous and very scary. I didnt have a business name for instance and I havent a clue what the rest of its about. \would this still be classed as self employed or just "other income not disclosed already" ? TIA

OP posts:
Original poster
forsale · 05/08/2007 22:45

also as they have already collected tax on interest from my bank account and I cant find that figure, will they still have it down as being collected against me? or do i have to search high and low for the figure they've already taken? It would appear i am due a repayment - will this go against me?

OP posts:
scienceteacher · 05/08/2007 22:46

ISTR that the tax return only asks you for bank interest that you haven't already paid tax on.

Katymac · 05/08/2007 22:46

You only need the "short" S/E forms

Ask the bank about your tax figure - they will have it on record

Original poster
forsale · 05/08/2007 22:54

thanks

Just to get it in the post I may put my income details in other information and they can send me the extra sheet if required.

i HATE the IR but for absolutely no reason whatsoever

OP posts:
Eddas · 05/08/2007 22:59

you need to put on bank interest even if tax has already been paid. The reason being that tax is only paid at basic rate and some people go over basic rate into higher rate with SE income and then bank interest should be taxed at the higher rate! But estimate the amount as you will be a basic rate payer by the sound of it and it will have no effect then.

The forms are ridiculously complicated.

Original poster
forsale · 05/08/2007 23:24

oh poo - i'll go off to bank in the morning then

OP posts:
Eddas · 05/08/2007 23:30

sorry but if we are being very precise with waht HMRC actually want on the return it SHOULD be there!

The bank should be able to help. Do you bank online as you may be able to get the info from there? or just ring the bank to save you going down there and just ask for the figure, not the figure in writing as they will charge about £20 to send a figure to you when they can just tell you for free!!

Original poster
forsale · 05/08/2007 23:32

no thank kyou Eddas - you're very helpful. In reality I should have this done a year ago but it gets me in such a tizz I really cant think straight

OP posts:
Eddas · 05/08/2007 23:42

please ask if there's anything else you're worried about.

BTW if your tax liability is £100 or under then you will not be fined £100

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