help with tax, I really need to sort it out but keep putting it off

Jon_now_is_the_time

Hi guys i have been really stupid and messed up my taxes for the last six year.

I have been a utter idiot!! from 2008 i have been on the wrong tax code, I changed my tax code to a sole trader or something i cent even remember because i had this bright idea to sell celebrity style Jewellery over the internet, I did it for a month made £150 and thought this isnt working well and didnt both with it after that. i did the tax return thing and then sent a letter saying i wanted to revert back as no longer doing the Jewellery business. six month later i get a tax return form, i did nothing as thought probably cross over, the next year i got another form and just never got round to sort it. And to be honest just berried my head in the ground after that as i was getting fines letters saying i have failed to fill in the form etc. its now six years later and looking at my latest wage bill i have got to have been overpaying my tax as i made £3000 and took home £1900.

A friend says i should get alot of tax back but also the tax man might be after me for not paying the self cert fines. This is really stressing me out but i have got to sort it.

my tax code is 294L/0 and national insurance code is A

My wage slip is

Payments £3004 deductions £1007 net pay £1997

Deductions

Tax £570
Ni £283
Pension £154

I know i have to sort it out now but because i have left it so long it seems to have got harder and harder to make that call. Any advise would be much appreciate it. I plan to call them today

Pennywise

You just have to complete and submit all the missing annual self assessment tax returns. Talking to them won't make it go away - the only way is to get those returns submitted. You need to get all your tax paperwork together (payslips. P60s, P45s), sort it out into date order etc., and get your records of income and expenses for your short period of self employment. Once you have all that you have a choice - either try to complete & submit the returns yourself or hand it all over to an accountant to sort it out.

Gaz83

If you are calling them, the best thing you could do beforehand would be to type / write something up showing everything you have done chronologically, so that you can talk accurately over the phone.

I used to work for HMRC and nothing !!!!!!ed up a person's tax affairs more than chopping and changing their story, dates, going back and forward with different changes in circumstances.

Keep it concise, to the point, and in order.

trailingspouse

And don't beat yourself up about it. HMRC wouldn't be so hard to contact if there weren't a gazillion other people also needing to talk to them about their own !!!!-ups!!

You already know that it'll only get harder if you leave it, so don't leave it a moment longer, call them right now.

Now. Just do it.

Come back and tell us how you got on.

purdyoaten

Pennywise wrote: »

You just have to complete and submit all the missing annual self assessment tax returns. Talking to them won't make it go away - the only way is to get those returns submitted. You need to get all your tax paperwork together (payslips. P60s, P45s), sort it out into date order etc., and get your records of income and expenses for your short period of self employment. Once you have all that you have a choice - either try to complete & submit the returns yourself or hand it all over to an accountant to sort it out.

Good advice. additionally it is 'determination time' at HMRC when they try to get as many determinations done before the end of the tax year.

The last thing that the op would would want is for HMRC to simply decide what the profit was on each self-assessment in order to encourage/force the taxpayer to submit - very difficult to appeal as you know.

Got to be worth visiting an accountant and paying to get rid of the stress!

Caz3121

With any luck your overpaid tax for the last 4 years (the longest you can reclaim) will pay off the fines etc.
unless you are well organised with your paperwork then agree with the accountant comment

Mr_F_Dorsetty

Jon_now_is_the_time wrote: »

I know i have to sort it out now but because i have left it so long it seems to have got harder and harder to make that call.

There are these people called 'accountants', look at Yell.com, find a local one man band accountant and get them to sort it out. It really will not cost a fortune.

My apologies if this sounds a bit b+tchy, but as you admit yourself your procrastination knows no bounds, so just get an accountant to sort it out.

Plus, never take technical advice from any forum, it's a real quick way to get a 1,000 different answers and plenty of ill informed advice.

purdyoaten

Mr_F_Dorsetty wrote: »

Plus, never take technical advice from any forum, it's a real quick way to get a 1,000 different answers and plenty of ill informed advice.

Bit harsh! There are many accountants, ex HMRC employees and tax consultants on here, some of which have an in depth knowledge of most tax matters. I would have thought that that was the very reason the op came on here!