How Much Tax will i have to pay?

faringdon

Thanks, none of the accountant websites give any idea of their charges.

I have started the Tax Return…must admit its asking for "Income tax losses" which i dont understand what that means. Its asking for "pension income thats liable to a tax charge", so i presume i will have to answer yes to that even though my 5 yr tax record shows that i have payed the tax on it.

The guides to help one fill in the details about pensions tax seem incredibly long.

sherlock228

https://forums.moneysavingexpert.com/discussion/comment/82128819#Comment_82128819

alright if you ignore the need to get an accountant then please take on board one other thing you been repeatedly told

when doing to tax return you must include EVERYTHING, you cannot arbitrarily decide I have already paid tax on that so I'll leave it out. That is not how the system works, you declare everything so your total income is totted up and then, and only then, will the system be able to say how much tax you should have paid, and thus if you owe more or are due a refund.

molerat

You have paid tax on that pension yes but it is almost certain it is not the "correct amount of tax".

Isthisforreal99

https://forums.moneysavingexpert.com/discussion/comment/82128819#Comment_82128819

One misunderstanding after another

You really have zero clue what you are doing. Go and speak to a local accountant for prices.

faringdon

Thanks,

What about taxfix.com

https://taxfix.com/en-uk/assessment/overview

…how can you tell its ok to send them the fee and they wont just "disappear".?

So, other than sole trader income, i had income from

1…Several PAYE jobs

2….NEST pension withdrawal

3…£106.08 interest from bank savings account

4….£200 gift from Mother.

…..So i need to declare all of them?

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/82128838#Comment_82128838

Gifts aren't subject to income tax - is your mother perhaps prepared to pay for an accountant?

I have started the Tax Return…must admit its asking for "Income tax losses" which i dont understand what that means

Can you share a screenshot of this please?

redped

@faringdon despite so many people telling you to pay an accountant, you continue ignore their advice. So why do you keep asking questions? Why should people continue to help you, when you just ignore what they're saying?

As (too many) people have already said, you're in way over your head here - NOT using an accountant could well cost you much more money and hassle in the long run.

I'm out …

faringdon

The thing is , i have calculated my total gross and total payed income tax. The only thing is the discrepancy over the NEST payment…but if i use the higher payment , then i am definitely in a position where i have NOT UNDERPAYED tax…and that is a safe position to be from, since it means i can't be done for anything legally.

…And that i can do free of charge…all the accountants have "Unknown" fees which are "from £99"…which could be £599, £1099, or £1599…whatever …who knows.

……Sherlock228 says my tax situation looks too simple for me to need an accountant.At least at first, i am going to go through the Self Assessment form myself…if nothing else just to see what info i am going to need for the accountant, if i get one. I dont have to actually submit it unless i'm really sure.As far as i can see, its just my PAYE payslips, 5 yr HMRC record, NEST withdrawal, Bank interest of £106.08, and the sole trader income. For some reason my Lloyds bank account for savings doesnt give pdf prints of the £106.08 interest that i got payed. I can see it by logging in, but dont want to be giving out my login details.……………………………………………………………………………….I've looked on a good few accountants websites but none offer a "ceiling" fee….its all "from £99" etc etc. This is very worrying. Since my tax return is a relatively simple one, they are going to look at me like the simpleton who is ripe to be ripped off. …….. ……. ……. ……. ……. ……. ……. ……. ……. …….I just went to comparetheaccountant.com and they are all coming up with monthly fees, and expect you to sign up for considerable time, not just a one off tax return.… … … … … …….. ……. ……. ……. ……. ……. ……. ……. ……. …….This place, Clever Accounts, is £42.50/month and seems to do it for Sole Traders. They say you can cancel any time…..and that there is no minimum contract time….

https://cleveraccounts.com/

faringdon

Can you share a screenshot of this please?

Thanks, yes, "income tax losses" on the Tax return…

…I am not sure what is an "income tax loss"?

**************************************************************************Also, i am not sure about the bit about pension contributions deducted before tax?

Pension deductions.png

****************************************8

Also it asks how many business's i had…….i had 2 sole trader jobs for 2 different companies so it looks like i have to answer 2, even though it was just me doing both "gigs"?

Isthisforreal99

https://forums.moneysavingexpert.com/discussion/comment/82129026#Comment_82129026

https://forums.moneysavingexpert.com/discussion/comment/82129026#Comment_82129026

'Too simple' for most people, but despite most telling you you are way in over your head you still persist.