Self assessment sums dont add up??

trixxi

Trying to complete a self assessment, I have all the figures i think i need.
I have separate figures for every month, with takings, expenses and then profit. I added these together to give me my totals but when i then checked by subtracting expenses from takings i dont get the same answer?

Is it me?? what am i doing wrong??

fengirl_2

Your arithmetic in one of the columns or rows is obviously incorrect. Do you have the figures on a spreadsheet - have you checked the formulas?

maninthestreet

trixxi wrote: »

Trying to complete a self assessment, I have all the figures i think i need.
I have separate figures for every month, with takings, expenses and then profit. I added these together to give me my totals but when i then checked by subtracting expenses from takings i dont get the same answer?

Is it me?? what am i doing wrong??

How on earth are we expected to know?

trixxi

Fengirl....................Thanks, went back and checked made a really stupid mistake sorted it now!!!

Maninthestreet..................... was just looking for a bit of advice, obviously if you cant help dont know why u bothered posting, thought this place was to help people?? or have i missed something?

trixxi

Hope someone can help with yet another stupid question!!
My hubby made a loss during his last month being self employed.
So in the net profit box for oct 08 i have a minus. When i am trying to check my calculation totals they dont add up, what should i do??

System

trixxi wrote: »

Hope someone can help with yet another stupid question!!
My hubby made a loss during his last month being self employed.
So in the net profit box for oct 08 i have a minus. When i am trying to check my calculation totals they dont add up, what should i do??

You would be better adding up all his income from April 08 to October 08 (assuming April 08 is the start of his basis period). Then adding up all his expenses for the same period and then taking one from the other. HMRC don't expect you to itemise each month individually when you complete the tax return.

HTH

tyllwyd

I agree, working from the annual totals is a better idea than trying to work out the profit monthly. And surely he has some expenses which are not paid monthly?

But if you have made a mistake in your arithmetic, there is no way that anyone can help you to check without seeing the figures. If you want more helpful advice, you would have to post more information.

barak

trixxi wrote: »

.....went back and checked made a really stupid mistake sorted it now!!!

Maninthestreet..................... was just looking for a bit of advice, obviously if you cant help dont know why u bothered posting, thought this place was to help people?? or have i missed something?

trixxi - Don't worry - we can all make mistakes! Many years ago my mother's tax return was prepared by one of the largest accountancy firms - then called 'E.... & W......' - who were auditors for my late father's business.

I checked the figures before she signed it, and found that they didn't add up. They thanked me for drawing their attention to an error in their computer system.