tax return question

billozz

hi all, help please, i am in a partnership and until recently we had a guy who helped us with our accounts/ bookkeeping etc and he also filed our tax returns online for us. he has now retired and this week we filed the tax returns .....both individual ones and the partnership ourselves, my question is at the end of the procedure it gave a calculation for the ammount we have to pay but it seemed to to contradict itself i'll use some pretend figures to explain this is what it stated at the end as our tax calculation.

payment due by 31/1/14 is £25.00 with a further payment of £25.00 due by 31/7/14.
total due by 31/1/14 is £50.00.
this does not take into account any payment on account that has been made.
so...we are not sure if we have to pay 2 lots of £25 or the whole £50 by the ned of the month.
hope someone can help
Bill

billozz

blimey 86 views no answers must be a tricky one! lol

purdyoaten

Normally payments on account, where ou are self-employed, would not be due unless the tax bill for the previous year was more than £1000. I am struggling with the example that you have quoted.

If we accept that there would be payments on account due on the amounts quoted:

The tax due for 2012/13 is £50. You must deduct from this any payments that you made by way of payment on account in January and July 2013 and pay the balance at the end of the month.

In addition, a payment on account for next year is due at the end of the month, half of the £50. A further payment would be due on 31st July 2014.

The amount payable at the end of this month is £50 less payments on account already made plus £25.

However more realistic made up figures are required to be sure.

billozz

sorry for ease i quoted those figures. so basically we would have paid something towards this years tax last year? if so how do we find out what that figure was? i would have thought hmrc would have all the figures to hand and it would be part of the calculation done when filing the tax return

purdyoaten

Log in to you self assessment. On the home page where it says 'you have ????? to pay' there is a clickable field and you can view your account. Other than that you could check your bank statements for payments made?

zygurat789

billozz wrote: »

sorry for ease i quoted those figures. so basically we would have paid something towards this years tax last year? if so how do we find out what that figure was? i would have thought hmrc would have all the figures to hand and it would be part of the calculation done when filing the tax return

That's a bit rich. You made the payments 31/01/2013 and 31/07/2013. I would have thought that you would have had all the figures to hand.

I'm sure a lot of your suppliers send you invoices AND statements.

billozz

zygurat789 wrote: »

That's a bit rich. You made the payments 31/01/2013 and 31/07/2013. I would have thought that you would have had all the figures to hand.

I'm sure a lot of your suppliers send you invoices AND statements.

if you dont have any help to offer dont comment you didnt comment to help me so dont be sarcastic.

danthemoneysavingman

Seriously... you only need pay "£25" before end Jan14. You'll get paperwork through later detailing what else you have to pay and when. I would suggest filling your form in a bit earlier next time so you get the proper final figures for payment and dates due in good time :-D

billozz

danthemoneysavingman wrote: »

Seriously... you only need pay "£25" before end Jan14. You'll get paperwork through later detailing what else you have to pay and when. I would suggest filling your form in a bit earlier next time so you get the proper final figures for payment and dates due in good time :-D

thanks for that its what is uspected but i was just a bit confused at the way it was presented on their site

billozz

purdyoaten wrote: »

Log in to you self assessment. On the home page where it says 'you have ????? to pay' there is a clickable field and you can view your account. Other than that you could check your bank statements for payments made?

thanks i did what you said and it made a bit more sense

zygurat789

billozz wrote: »

if you dont have any help to offer dont comment you didnt comment to help me so dont be sarcastic.

You seem to expect other people to do things whuich are YOUR responsibility.
I was trying to help you by getting you to see that it is very fundamental that you know what you have paid to whom and what it was for and that the answer is in your books and records where you can easily find it.
You first blamed HMRC for your deficiency and now you're having a go at me. you're obviously someone who is never wrong and always right.