2024/25 Self Assessment Tax Return

SVaz

My freeagent linked return is populated but not yet showing as ready to file,  I imagine it will be tomorrow.   I haven’t got savings interest details yet in any case.   

I had already reduced my payments on account but it turns out not by enough as I’m still waiting on a couple of big invoices - as my tax will be under £1k, I assume as I’ve already paid £1300 POA in January,  the balance after paying the tax due will be refunded to me - or do I need to claim it back? 

uknick

Tonydw77 said:

Submitted mine today...lets see if labour try to stiff us

With what?

Nomunnofun1

FrugaiMacDugal said:

Nomunnofun1 said:

FrugaiMacDugal said:

Wyndham said:

Just done mine. First time I've ever been able to do it on the first day, as it's the first time I've ever had final figures at this point. Feeling a certain sense of smug satisfaction

You mean you've already had final figures for interest and any dividends?

Wow, that’s quick, usually a month at least.

Certainly is. Strangely enough April is the second busiest month for filing tax returns. It doesn’t even come close to January, however, when an average 48% of all returns are submitted. It seems that we file early or late, a lot very late!

I have a spreadsheet with data, but like to wait until I get the official annual statements.

I’m pretty sure you won’t be in the 48%

Dazed_and_C0nfused

SVaz said:

My freeagent linked return is populated but not yet showing as ready to file,  I imagine it will be tomorrow.   I haven’t got savings interest details yet in any case.   

I had already reduced my payments on account but it turns out not by enough as I’m still waiting on a couple of big invoices - as my tax will be under £1k, I assume as I’ve already paid £1300 POA in January,  the balance after paying the tax due will be refunded to me - or do I need to claim it back? 

Each POA will be reduced to ~£500 (being less than £1k is irrelevant for those POA, bit it will mean POA for 2025-26 won't be created) and you can have the remaining balance refunded.

You will be entitled to a small amount of repayment interest for the ~£800 overpaid in January.

Nomunnofun1

SVaz said:

My freeagent linked return is populated but not yet showing as ready to file,  I imagine it will be tomorrow.   I haven’t got savings interest details yet in any case.   

I had already reduced my payments on account but it turns out not by enough as I’m still waiting on a couple of big invoices - as my tax will be under £1k, I assume as I’ve already paid £1300 POA in January,  the balance after paying the tax due will be refunded to me - or do I need to claim it back? 

Complete the ‘If you have paid too much tax’ part!

Notepad_Phil

Dazed_and_C0nfused said:

SVaz said:

My freeagent linked return is populated but not yet showing as ready to file,  I imagine it will be tomorrow.   I haven’t got savings interest details yet in any case.   

I had already reduced my payments on account but it turns out not by enough as I’m still waiting on a couple of big invoices - as my tax will be under £1k, I assume as I’ve already paid £1300 POA in January,  the balance after paying the tax due will be refunded to me - or do I need to claim it back? 

Each POA will be reduced to ~£500 (being less than £1k is irrelevant for those POA, bit it will mean POA for 2025-26 won't be created) and you can have the remaining balance refunded.

You will be entitled to a small amount of repayment interest for the ~£800 overpaid in January.

Mrs Notepad will likely also receive some repayment interest, will this count as taxable interest which will then need to be added to next year's self assessment?

Dazed_and_C0nfused

Notepad_Phil said:

Dazed_and_C0nfused said:

SVaz said:

My freeagent linked return is populated but not yet showing as ready to file,  I imagine it will be tomorrow.   I haven’t got savings interest details yet in any case.   

I had already reduced my payments on account but it turns out not by enough as I’m still waiting on a couple of big invoices - as my tax will be under £1k, I assume as I’ve already paid £1300 POA in January,  the balance after paying the tax due will be refunded to me - or do I need to claim it back? 

Each POA will be reduced to ~£500 (being less than £1k is irrelevant for those POA, bit it will mean POA for 2025-26 won't be created) and you can have the remaining balance refunded.

You will be entitled to a small amount of repayment interest for the ~£800 overpaid in January.

Mrs Notepad will likely also receive some repayment interest, will this count as taxable interest which will then need to be added to next year's self assessment?

No, it's exempt from tax.

https://www.gov.uk/hmrc-internal-manuals/savings-and-investment-manual/saim2320

Mr.Generous

Had a look at mine today, I hadn't noted down dividends all year so thought I'd have to trawl through a years statements.

If it helps anyone I went into current acc on online banking, clicked the search box, set the tax year as the date range then searched "Money in" while leaving the description box blank. bank accounts being mainly one way traffic the money in is only a handful of entries per month, easy to identify dividends, and also interest.

Tylerjaysdad

Did people submit on the 6th even though the request to file wasn’t there? I’ve looked on my tax return options and it says requested on the 7th but I already filed on the 6th. I’ve heard that this is classed as a voluntary return and will be delayed as they may not accept it? 

Nomunnofun1

Tylerjaysdad said:

Did people submit on the 6th even though the request to file wasn’t there? I’ve looked on my tax return options and it says requested on the 7th but I already filed on the 6th. I’ve heard that this is classed as a voluntary return and will be delayed as they may not accept it? 

Where on earth have you heard that?