Tax Returns after BR

kew63

Hubbies BR seems to be going ok, but one of the things his OR has asked him to do is to get the tax returns in so it can be drawn a line underneath.

Problem is that due to his companies accountancy year running from Sept to Aug, the return that he can put in for 2009 actually covers his accounting period Sept 2007 to Aug 2008.

To complete tax returns to when he closed company in Apr 2009, he'll need to do a return in 2010 to cover Sept 2008 to when he finiehd this year.

Fairly sure that the OR said any tax debts that relate to business and prior to BR are going to be included in his BR, so he wont be liable. But do we really have to wait til 2010 to do this return ?

He used to get accountant to do return but he charged £500, and noway we're doing that. Going from previous returns we're managed to work out what this return should be. May not be making all the allowances that could to reduce the tax bill (it's so complicated !!) but at least it will be accurate, and relate to what he's sold & spent.

Does anyone know whether it's possible to do the final return early, got the figures ready just want it done & dusted ?

What happens if hubbie gets early discharge, and this return is done after, will tax be able to come after hubbie for any tax owing?

So many questions sorry !! :eek:

kew63

Knew it was a mistake to post anything to do with tax .... it's a subject bad enough to make anyone run for cover, but if there is anyone out there with any suggestions be very grateful.
Even debated with ringing HMRC and asking them, but cant see they would be very helpful seeing as theyre not going to be getting their dosh ....

Help :-)

applepiencustard

Hi,

If your OH has closed his business then he can file final accounts with the tax office. He does not need to wait until 2010, I'm fairly sure of that.

Have you thought of calling your local tax office and without mentioning the BR say something along the lines of "hubbie's closed his business how do we file his final accounts?" and see what they say. From my experience the local tax offices are normally really helpful.

Best of luck!

kew63

Thankyou for your brilliant suggestion, will do that tomorrow & let you know how get on, in case anyone else is having fun with tax !! :-)

kew63

Hi
Rang tax office and asked about doing final tax returns and he cant do it til April 2010 !

Guess this will get rid of any hope of an early discharge, as assuming that they wont discharge if debts relating to BR still havent been finalized.

Can do the final VAT return, but not the tax ...

Have notified the OR so will see what they come back with, just hope that the tax bills really will all be included in the BR.

applepiencustard

Hi

What a shame, really thought you could at least submit the accounts if not the actual tax return. If you've worked it all out then you will have an estimated figure to put in won't you?

Keep your spirits up!

debtinfo

Hi dont worry about the ED. Discharge and the OR's file ar completely different, they can continue dealing with the estate after he is discharged