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  • FIRST POST
    • Former MSE Wendy
    • By Former MSE Wendy 15th Dec 09, 7:05 PM
    • 868Posts
    • 1,782Thanks
    Former MSE Wendy
    Don't forget your 2008/9 tax return deadline is 31 Jan 2010.
    • #1
    • 15th Dec 09, 7:05 PM
    Don't forget your 2008/9 tax return deadline is 31 Jan 2010. 15th Dec 09 at 7:05 PM
    What's this all about?

    The deadline to file your claim for 2008-9 returns for the year ending 5 April is 31 Jan 2010. If you miss this deadline you'll be charged an automatic £100 penalty.

    Those that wanted to submit a paper from, the date for this has now passed (it was the 31 October 2009). However filing online is the best bet anyway as you get an immediate acknowledgement.

    See full details of KeyTax Dates.

    To be able to submit an online claim you need to register on the HRMC website. Yet before you can fill in your return an activation code needs to be posted to you. This can take up to 7 days.

    Who needs to do a return?

    Don't automatically think you need to do a return...

    If you've not been sent a self-assessment form, pay tax through the payroll, and don't have any other complicated finances you don't need to do one.

    So this only really hits those who are self-employed. If you're in any doubt call your local tax office to check.

    Ask for savings' statements

    If you need to fill in a self-assesment, part of it is telling them how much interest you earned from savings in the year to April 2009.

    While many savings accounts send you the form, or simply have a section on their websites, not all do so it's worth ensuring you can switftly get hold of them asap.

    Which organisations offer free help?

    If you're on a low income and stuggling to do a return there are ways to get free help.
    • TaxAid: A charity that provides free advice on your rights and responsibilities under the UK tax system and can help with any aspect of tax, not just your self assessment. Help is available for anyone on a low income - whether employed, self-employed, retired or on benefits - who cannot afford to pay for professional advice. Link: TaxAid
    • TaxHelp for Older People (TOP): An independent free tax advice service for anyone over pension age with taxable household income of less than £15k. It has around 550 volunteers able to provide free home visits in many locations, otherwise by telephone or post. Link: TOP
    • Citizens Advice Bureau: Most advisers can help with basic tax queries but may also be able to help find a local tax adviser. Link: Citizens Advice or visit your local bureau (find nearest)
    • HM Revenue & Customs: The tax office is able to help with tax queries at its enquiry centres or by phone on 0161 931 9070. Link: HMRC

      There are also FREE tax workshops around the country for employers (inc. 'Paying your employees' and 'Paying expenses and giving benefits to your employees') and the self employed ('Becoming self employed' and 'Self assessment for self employed people'). Thanks to MoneySaver chapperz on a previous discussion for the top spot. Link: HMRC Workshops
    • Low Incomes Tax Reform Group: A service by the Chartered Institute of Taxation to provide general guidance on tax and related benefits for those who want to do their own tax affairs. Link: LITRG
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    Last edited by Former MSE Wendy; 04-01-2010 at 10:29 AM.
Page 1
  • cas49
    • #2
    • 16th Dec 09, 12:26 PM
    • #2
    • 16th Dec 09, 12:26 PM
    some banks & building societies automatically send tax certificates at the end of the tax year and others expect customers to request them, can you use your campaigning skills to get consistency?
    • noh
    • By noh 16th Dec 09, 1:28 PM
    • 5,028 Posts
    • 3,343 Thanks
    noh
    • #3
    • 16th Dec 09, 1:28 PM
    • #3
    • 16th Dec 09, 1:28 PM
    You only need the certificates if reclaiming tax paid on savings and sometimes not even then.
    All you need for self assessment is to know the figures.
    • Stompa
    • By Stompa 16th Dec 09, 2:00 PM
    • 7,424 Posts
    • 3,565 Thanks
    Stompa
    • #4
    • 16th Dec 09, 2:00 PM
    • #4
    • 16th Dec 09, 2:00 PM
    Some institutions let you download a certificate as a pdf. I've always had a nagging doubt as to whether these are acceptable to HMRC (in the event that they ask to see them).
    Stompa
  • The Snowball
    • #5
    • 16th Dec 09, 3:06 PM
    Banks Statements Required
    • #5
    • 16th Dec 09, 3:06 PM
    following on from PDF or any other printed Interest Statements - they are all acceptable, but only along with your bank statements. You are required to keep all statements as per all documents relating to self employment for the same period.
    If you were invited for a friendly chat at the Tax Office regarding your tax affairs, they ask to see all bank statements for all bank accounts for that particular tax year they are investigating.
    The annual statements are really only handy for calculating your own figures quickly.
    Hope this clarifies.

    Happy Festives
    • Rollinghome
    • By Rollinghome 16th Dec 09, 3:12 PM
    • 2,008 Posts
    • 2,147 Thanks
    Rollinghome
    • #6
    • 16th Dec 09, 3:12 PM
    • #6
    • 16th Dec 09, 3:12 PM
    If you were invited for a friendly chat at the Tax Office regarding your tax affairs, they ask to see all bank statements for all bank accounts for that particular tax year they are investigating.
    Originally posted by The Snowball
    And if one has been lost they'll request one from your bank and most banks will then charge you for each one issued.
  • welsh old codger
    • #7
    • 16th Dec 09, 7:10 PM
    make sure you claim your tax
    • #7
    • 16th Dec 09, 7:10 PM
    if you are a non tax payer make sure you fill in the appropriate forms before you get your interest if you dont the building society will tell you that you have to claim your money back from hmrc so make sure you fill in the forms before you get to that stage
  • withnell
    • #8
    • 16th Dec 09, 8:53 PM
    • #8
    • 16th Dec 09, 8:53 PM
    You only need the certificates if reclaiming tax paid on savings and sometimes not even then.
    All you need for self assessment is to know the figures.
    Originally posted by noh
    I concur - I've never been asked to provide the certificates when filling in SA form
  • chattendenmarge
    • #9
    • 17th Dec 09, 2:43 PM
    • #9
    • 17th Dec 09, 2:43 PM
    As an ex Inspector of Taxes I have some inside knowledge. All the comments I have seen are correct. But with my background I was concerned with my Interest Certificate from Halifax last year. It only included interest earned on accounts that were still open. I had done quite a bit of stoozing so I had several closed accounts and they were not reflected on the certificate. There was a note on the certificate to say only open accounts shown so I am not sure how HMRC would react if you used the certificate amounts and did not include interest on closed accounts. When you sign a tax return or tick the box for online filing you are saying the figures are correct and complete to the best of your knowledge. If there is no loss of tax or overpayment of benefits it should not be a problem. On the other hand if you are able to claim back the tax deducted you would not be getting the full amount.
    • thisisace
    • By thisisace 31st Dec 09, 2:13 PM
    • 107 Posts
    • 94 Thanks
    thisisace
    Question
    Quick question while we have an expert about:

    Do I need to include interest paid on ISAs anywhere on my tax return ?
  • kostigovs
    Quick question while we have an expert about:

    Do I need to include interest paid on ISAs anywhere on my tax return ?
    Originally posted by thisisace

    No you do not
    • stphnstevey
    • By stphnstevey 1st Jan 10, 10:56 PM
    • 2,720 Posts
    • 446 Thanks
    stphnstevey
    Alot of my accounts are online and don't send paper bank statements. They also only allow 1yrs worth access online. Would this be a problem then?

    This does cause a problem when I do my SA in Dec, as it only goes back to Dec last year for some and not April. So I have just worked out the average interest per month for the 12 months I have.

    Would the certificate of tax paid on interest surfice or do I have to print out all my online bank statements from now on?

    It's silly that you try and be green and not have paper statements and then your required to have them. I have loads of accounts (10 or so, manly due to this website spotting good deals!), so keeping track of them is difficult.

    "You only need the certificates if reclaiming tax paid on savings and sometimes not even then.
    All you need for self assessment is to know the figures. "

    so HMRC won't want to see the tax certificates??????
  • Mikeyorks
    Would the certificate of tax paid on interest surfice
    Originally posted by stphnstevey
    Yes - essentially that's what it's for.

    But if you're self employed you should be keeping the Statements for your business account. If you're PAYE it doesn't really matter as all your inputs are payslips / P60 and your outputs don't really figure (there may be some exceptions if you contribute separately to something you claim for - eg pension - but you normally 'prove' that outside a statement)

    so HMRC won't want to see the tax certificates
    .... extremely unusual.
    If you want to test the depth of the water .........don't use both feet !
    • stphnstevey
    • By stphnstevey 1st Jan 10, 11:36 PM
    • 2,720 Posts
    • 446 Thanks
    stphnstevey
    Sorry, don't mean to be rude, but that at first glance seems slightly contradictory.

    Yes a Tax certificate will suffice instead of statements but HMRC rarely ask to see them? (probably me miss-understood, not you!)

    I am a company director and keep all business account statements. However I am a little worried I might have neglected keeping the personal statements. I realise HMRC can ask for stuff I think for upto 6yrs (?).

    As mentioned, I haven't kept personal statements as they would span several lever arch folders.

    However keeping six years of tax on interest statements wouldn't be as large
  • Mikeyorks
    Yes a Tax certificate will suffice instead of statements but HMRC rarely ask to see them? (probably me miss-understood, not you!)
    Originally posted by stphnstevey
    The Certificate is your base data document for completing the Return (ie you don't need 12 x monthly statements if it's a current / easy access account)? HMRC will rarely ask to see them ..... but you do need to keep them just in case they open an enquiry.

    Not dissimilar to the P60 etc you use as a data source .... but HMRC doesn't ask for it as evidence.

    Trust that helps a bit more. I have a CITR account and claim a 5% taxback of the deposit value annually ..... but have never been asked for proof of all the other interest bearing accounts that go into the annual calculation.
    If you want to test the depth of the water .........don't use both feet !
  • nm123
    Hello chaps,

    I've never filed a tax return but wonder if I need to after reading this: http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/SelfAssessmentYourTaxReturn/DG_4017116
    • I've got about £6k in ISAs and £11k in normal savings (although this may dip to under £10k very shortly as I need to spend out on a few things).
    • In February I am moving to Australia for 2 years.
    I'm not self-employed and have never filed a tax return before. Do I need to do one now for the 09/10 tax year? OH is self-employed and gets his accountant to do his, which I guess I'll do if I need to, but not sure if I really do...

    And will I need to file UK tax returns when I'm in Oz??

    Ta muchly!
    • victoriaplum1
    • By victoriaplum1 14th Jan 10, 1:21 AM
    • 428 Posts
    • 885 Thanks
    victoriaplum1
    I am really worried cos am now waiting for 3rd activation code as previous ones haven't worked and we now have loads of snow so post not coming, no idea why previous ones not worked and they havent been very helpful when I phone, just say you have to order another one, not got any faith in any working now...what then as deadline is looming, is my first sa too and I am not that good with figures but as my business made a loss I am hoping it wont be too complicated to fill out...but without the activation code I can't fill it out, is there any way they can give an activation code over phone if I talk to a manager and explain the problem.


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    • goldmercury
    • By goldmercury 19th Jan 10, 9:45 PM
    • 140 Posts
    • 37 Thanks
    goldmercury
    I'm starting my own part time business next month as well as working full time. My current employer does my tax. I obviusoly will have to complete a self assesment but do I have to include my full time salary pay in it to? Also do I have to pay two sets of income tax/ni?? I ain't sure.
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    • cosyc
    • By cosyc 19th Jan 10, 10:03 PM
    • 335 Posts
    • 137 Thanks
    cosyc
    I'm starting my own part time business next month as well as working full time. My current employer does my tax. I obviusoly will have to complete a self assesment but do I have to include my full time salary pay in it to? Yes you will all income goes down. So keep P60.

    Also do I have to pay two sets of income tax/ni?? I ain't sure.
    Originally posted by goldmercury
    Yes - if you have time the workshops run by HMRC explain all. www.hmrc.gov.uk/bst
  • Mikeyorks
    I obviusoly will have to complete a self assesment but do I have to include my full time salary pay in it to? .
    Originally posted by goldmercury
    Yes .... in the separate 'employment' part ....... and also the tax deducted from it.



    Also do I have to pay two sets of income tax/ni?? I ain't sure.
    The SA calculation will work out what you owe overall on the self employment + the employment income. Then deduct the tax you've paid under PAYE ........ and the rest you owe under SA.

    So - yes, you pay two lots of tax/NI ........... but you're not paying it twice on the same income.
    If you want to test the depth of the water .........don't use both feet !
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