SA return - totally messed up, help!

[anxiousaboutlife]

Re-posted from legal.

NC for this. Please be kind as my mental health is in the toilet over this.

I've run my own business since Feb 2020 after I had a bit of a breakdown at my old job and quit while on stress-related leave. As a result I still only work part-time and earn less than 20k a year.

When I did my most recent return in November I realised I'd messed up and hadn't been tracking things as closely as I should have been. I fixed the return but then looked back on 22/23 and realised I'd done the same thing then.
I've spoken to extra support at HMRC who to be fair, have been really kind but not especially helpful about putting things right - so I've got an appt. with a chartered accountant on Tuesday. Basically, am I okay to just pass this onto him and he can deal with HMRC for me? I have my records, bank statements, software etc. for him to look at. My mental health has been in tatters over this and I've barely slept or eaten in a week.

Every time I try and look at the figures, my head just starts swimming and I shut down and can't focus. I'm scared to correct it on my own in case I fuck up even more. Please be kind, this has been awful for me and I'm due back at work Monday feeling even worse than I did at the start of the holidays 😭

@anxiousaboutlife Please don’t worry, your accountant will deal with everything for you.

Thanks @DiamondLily I bloody hope so 😩

@anxiousaboutlife please don't worry, this is such small fry to HMRC and you are being super thorough and honest. Your accountant will handle it, that's what you pay them for! Please don't let this sorry you anymore! Xxx

Thanks @herbygarden ❤️

I need to stop going down internet rabbit holes about these things, it doesn't help 😩

Chartered accountant here.

if you have underpaid tax, there will be interest charged on the underpayment.

In theory, there may also be penalties, but as you have gone to HMRC they will be mitigated, possibly to nil. Your accountant will deal with all of this for you.

And honestly, don’t worry, HMRC are used to this, so is the accountant. The fact you have raised this really will work in your favour,

Thanks @AuditAngel - my software really let me down and wasn't doing what it was supposed to. I also just got so overwhelmed with a few things 😩

I'm actually not even sure if I've underpaid when everything comes out in the wash 😳

Agree with PPs that say that your accountant will sort this out for you and let you know what you need to do/pay (or not, as the case may be)

And when you speak to your accountant, also ask them for advice on how best to keep your records and use your software so that you don't have this again (Most accountants will do this for free because it makes their life easier too)

Thanks @VivX - it's on my list of questions! I genuinely thought I had it all under control with software but apparently not 😩

Please try not to worry, getting an accountant and handing over everything to them to deal with is 100% the right approach. Honestly it will be fine.

Some people can do their own Tax Returns but an awful lot cannot. I think in your case if you are stressing about it, then it’s definitely worthwhile getting an Accountant to do it for you, but as previous poster says, you need to keep/provide everything. The Accountant should be able to amend your last SA for you and also advise you the best way forward. Don’t be afraid to ask Accountant to explain things again, until you fully understand.

Thank you!

Thank you. I've spent weeks getting everything together and can find anything extra if needed.

I have all the proof of my income and expenditure - including bank statements and invoices. I just use cash basis accounting so it should be fairly straightforward in that respect (but apparently not for me!).