Tax return 2020

Marney19

Just a question but submitting our tax returns now will not affect us receiving the self employed Coronavirus grant should it?

Jeremy535897

Not unless it shows you didn't trade in 2019/20, or ceased to trade.

Fabs19

Hi guys I'm very stressed out when I fill my tax return every year money was issued in 5 working days, however this year I filled my return on the 21 April but it just says bank repayment pending I'm really in need for the money why would it take so long this year  ? Thanks 

dshaw00

Fabs19 said:

Hi guys I'm very stressed out when I fill my tax return every year money was issued in 5 working days, however this year I filled my return on the 21 April but it just says bank repayment pending I'm really in need for the money why would it take so long this year  ? Thanks 

I’m still waiting after doing mine on the 8th April nearly 4 weeks on bank repayment pending, called them and they jus said to ring back again in a week seemed like whoever I was talking to didn’t know what they was doing 

sheramber

The person answering the phone does  not know when a repayment will be issued. They can see what you see.
They may have been told when the next batch of repayments will be sent out but will not know  if your repayment is in that batch. So they can suggest when it might be issued.

 If it is pending then someone needs to look at it and make  checks or release it for issue. 
That is unlikely to be  the person answering your phone call.
So, they can only make guess at when it will be issued until the repayment is cleared for  issue.

Fabs19

dshaw00 said:

Fabs19 said:

Hi guys I'm very stressed out when I fill my tax return every year money was issued in 5 working days, however this year I filled my return on the 21 April but it just says bank repayment pending I'm really in need for the money why would it take so long this year  ? Thanks 

I’m still waiting after doing mine on the 8th April nearly 4 weeks on bank repayment pending, called them and they jus said to ring back again in a week seemed like whoever I was talking to didn’t know what they was doing 

Thanks mate looks like we got unlucky I don't understand I inserted all the right values I already checked like 10 times I don't know why this is happening specially now on a time of need omg I hope we get it back soon 

Danzo1986

Hi guys just a quick one. I amended my return last week. As had missed out few figures. It came back OK and my payment went from pending too issued on Friday 12/05/20 should that be in my bank Monday or early hours of Tuesday morning. Tia 

boecima

I have an LTD and a physical address whit an tenancy contract of £900 a month.  I do not pay the £900 a month because of a verbal agreement to do some maintenance work for the building hosting my LTD.  

my question is can I put the £900 as expenses? 
if yes should I put the  £900 as income in my self employed tax return? ( my accountant says i do not have to put in my self assessment tax return , but I am not sure .

thanks
Antonio.

Jeremy535897

The contract for the rent is with the limited company. If you do work to cover the rent, that is in your capacity as an employee of the company, so the limited company's accounts should show income of £900 pcm and expenses of £900 pcm. If your company is VAT registered, it would have to account for the output VAT on the work you do. See: .https://www.gov.uk/guidance/vat-part-exchanges-barters-and-set-offs