SA error and accountants

AprilKid

Hello everyone,

Whilst previously submitting my Self Assessment online I made some error that resulted in a tax bill,  even though my earnings are below the personal allowance rate. 

Having failed to find/understand the error, I need the help of an accountant to fix the error, recover the tax and not repeat the same mistake for this years returns.

My question is, will an accountant let me keep a photocopy of the submission so that I can learn from it and idealy not need an accountant next time as I really cant afford to pay their fees again and again?
Could anyone please recommend a course of action.

Thank you in advance

April

Dazed_and_C0nfused

AprilKid said:

Hello everyone,

Whilst previously submitting my Self Assessment online I made some error that resulted in a tax bill,  even though my earnings are below the personal allowance rate. 

Having failed to find/understand the error, I need the help of an accountant to fix the error, recover the tax and not repeat the same mistake for this years returns.

My question is, will an accountant let me keep a photocopy of the submission so that I can learn from it and idealy not need an accountant next time as I really cant afford to pay their fees again and again?
Could anyone please recommend a course of action.

Thank you in advance

April

Asking for a copy of the amended doesn't seem unreasonable.  You are paying them for heir services after all.

What exactly did you do wrong that resulted in a tax liability when your income is under the Personal Allowance?

There is one genuine reason why that can happen, are you sure the liability is wrong?

eskbanker

AprilKid said:

Could anyone please recommend a course of action.

I'd suggest that posting sufficiently detailed figures on here is likely to assist with identifying any errors, and allow you to correct them without spending money on accountants....

Start with sharing the calculation page at the end of the SA process, plus why you believe this to be wrong.

AprilKid

Thank you Dazed_and_COnfused and eskbanker. 

It's a bit complicated, because I also recieved income from a small trust. (but my total income was still below the allowance) So I don't know if the error/s was made in the trust returns or in the self assessement. 

DRS1

If you are a beneficiary of a trust won't the trustees have given you a form (R185?) showing the income they have paid you and any tax deducted from it?  If your income in total is below the personal allowance I would expect you to be reclaiming any tax deducted.

However without any more information no-one on here is going to know what has happened and you will need to get a tax accountant (one who is a member of STEP would be best).

They would give you copies of your amended tax return -if you ask them and no doubt explain what went wrong in a letter or if you want to spend more money in a face to face meeting.

poseidon1

AprilKid said:

Thank you Dazed_and_COnfused and eskbanker. 

It's a bit complicated, because I also recieved income from a small trust. (but my total income was still below the allowance) So I don't know if the error/s was made in the trust returns or in the self assessement. 

Per @DRS1's query, the net ( after tax) trust income may well have kept you below the personal allowance threshold, but could the grossed up trust income have tipped you over?

 It is the gross trust income which is relevant here, and depending on the trust rates in question  (8.5%, 20% or even 45% [ if discretionary]), the gross trust income could well be the culprit here.

Was the self assessment return the 1st you had to submit, as a result of the commencement of the trust income source? It would be a shame to have to engage an accountant for your next return, if the reporting of trust income is the only issue.