Self assessment - feel sick. Please help

roger_c

It's easy to do, especially when you are in a hurry to get it in before the deadline. At least you will sleep better now.

whatatwit

Will you sleep tonight now?

skintchick

whatatwit wrote:

Will you sleep tonight now?

YEs!!! I am so relieved, I can;t tell you how much I appreciate your help. THanks SOOOOOOO much. :A

whatatwit

Double check your figures tomorrow, and you can always phone the helpline just to make sure.

whatatwit

Right, now you've done yours, do you want to come round here and sort out mine? :rotfl:

pavlovs_dog

dont forget to take something positive from the experience -

1. make sure all your paper work is in order and filed to help as mch as possible

2. now you know how fiddly and time consuming it can be, so leave yourself more time to do it next year!

skintchick

whatatwit wrote:

Right, now you've done yours, do you want to come round here and sort out mine? :rotfl:

If I do yours, you'll end up owing them 10k!! Best to do it yourself :rotfl: :rotfl: :rotfl:

whatatwit

skintchick wrote:

If I do yours, you'll end up owing them 10k!! Best to do it yourself :rotfl: :rotfl: :rotfl:

mmmmm, point taken.

full-time-mum

Haven't read the entire thread, but when I registered as self-employed last year, I was offered a mornings course on the subject through the tax office. If you haven't already done so, then it might be worth finding out when the next one in your area is. It was all very friendly and helpful and you may get the answers you need there and then. If not, then I'm sure that further help was available. There may even have been a specific course for filling in the form.

I also seem to remember that you have to pay a proportion of next year's estimated tax in advance - there was a good argument for this (well, good for the tax office anyway:rotfl: something to do with not owing the tax office money when you retire )

Debt_Free_Chick

skintchick wrote:

Any other things I should know?? Never done a SA form before (obviously!)

You said your self-employed pay was about £1,000. Have you claimed expenses incurred in doing this work? Did you work from home? If so, you can claim an amount as "use of home as office" - but it can only relate to the (self employed) work that you did. You need to know roughly how many days you actually spent on the self-employed work and claim for use of home as an office for those days.

You can claim other expenses in relation to your self-employed work too. You are only taxed on your profit from self-employed, not the actual fee income.

On the SA form for self employment, if your turnover (income) is less than £15k, you don't need to put in detailed figures. You simply put in income (£1k) and then expenses. You need to be able to prove your expenses, if asked, and they must be reasonable - but you should have a good deduction off that £1k!