Are tax returns really that scary??

hoc

I will be doing my first one ever. I've only ever had savings interest to report before which didn't require a self assessment, I will need to start to reflect my SIPP. I took a look at the form and while I haven't read the instructions yet it doesn't look too scary or long for simple things. If your situation isn't complicated, I would say it isn't scary.

Poppy9

DigForVictory wrote: »

May sound completely wildeyed, but have you thought of phoning HMRC & asking for advice? As they usually will tell you what to put in what box, &/or send you leaflets &/or weblinks.
Calling them mid week at a schooltime should see you put through to someone reasonably fast. May be worth a try before you definitely have to pay an accountant.

I have rung them mid day during school hours and been on hold for 45 minutes before speaking to person, then that person had to check with another department, so back on hold for 10 minutes I spent nearly 1.5 hours on phone as they had written to me in response to my letter asking if OH had to do SA, they had said yes, but when I went online to complete it wouldn't let me as they had updated the system, based on my letter, to say he could have his tax code amended so no need for SA!

Advice on telephone has always been hit and miss and you have nothing in writing to back up what they tell you. I usually write to them by letter - their online messaging service isn't up to much.

I have always completed OH SA tax returns when he was self employed and loathed doing them. I had to gather so much info and the returns used to be large and I had to ensure I correctly dealt with change over to SA and then again for final SA claim when he moved onto PAYE . Now he's retired I'm back to doing SA and it's much simplier. I simply need his end of year pension form, details of savings and his BTL income (and expenses). I try to nab the mail as it comes in and put in file throughout the year so it only takes me a couple of hours to collate and complete return.

As I also have BTL so I do my own SA too. Again just P60, savings details and BTL income and expenses.

I am fairly confident in completing the returns and finding out what each box means but OH could not complete them. He would find them too confusing as he hates finance and form filling so for him he would be better off paying an accountant.

You can find youtube videos to help you complete tax return but it maybe worth using a professional for first one.