Don't forget your 2008/9 tax return deadline is 31 Jan 2010. 15 December 2009 at 8:05PM edited 4 January 2010 at 11:29AM in Savings & investments 23 replies 21.4K views

Former_MSE_Wendy

[title=http://images2.moneysavingexpert.com/images/dp/wtd_underline.gif] What's this all about?[/title]
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.

[title=http://images2.moneysavingexpert.com/images/dp/wtd_underline.gif] Who needs to do a return?[/title]
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.

[title=http://images2.moneysavingexpert.com/images/dp/wtd_underline.gif] Ask for savings' statements[/title]
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.

[title=http://images2.moneysavingexpert.com/images/dp/wtd_underline.gif] Which organisations offer free help?[/title]
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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cas49

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

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

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).

The_Snowball

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

The_Snowball wrote: »

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.

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

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 :money:

withnell

noh wrote: »

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.

I concur - I've never been asked to provide the certificates when filling in SA form

chattendenmarge

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

Quick question while we have an expert about: :T

Do I need to include interest paid on ISAs anywhere on my tax return ?

kostigovs

thisisace wrote: »

Quick question while we have an expert about: :T

Do I need to include interest paid on ISAs anywhere on my tax return ?

No you do not