Any landlords who will have to do the quarterly tax return?

mills112

Anyone falling into this category of having to do the quarterly tax return from next month?

I understand that if your self employment and rental income together exceed 50k, you need to do the quarterly return.

Anyone falling into this category and do your own tax returns?

anselld

I am sure there will be plenty struck by Making Tax Difficult.

Not sure what HMRC are getting out of this when you can already submit digitally with the annual self assessment. Presumably just the ability to fine people more often if they make mistakes or miss deadlines.

Do you have a question about it? (Probably better for the Tax board).

badmemory

I have to agree. What worries me a lot is that accountants that have normally dealt with the self employed will now find their workload at least qunitupled along of course with their ability to bill. As most of the work will be done at best by bookkeepers a nice little earner for them. Expect each years tax take to go down. And cash in hand to go up as it is just too difficult to deall with.

silvercar

I thought the problem was that there wasn’t any free software available to submit the returns.

For standard small businesses running payrolls eg directors of their own companies earning through PAYE, there is the revenue’s own basic PAYE package that can be run on any laptop.

anselld

https://forums.moneysavingexpert.com/discussion/comment/81925687#Comment_81925687

There is free software available (Third Party). The problem is the sheer bureacracy of it and as said above Accountants end up charging for five submissions a year instead of one.

mills112

https://forums.moneysavingexpert.com/discussion/comment/81925374#Comment_81925374

didn't know there was a tax board. thanks