Be Prepared. New Style Tax Returns

alan99_2

Hello

I have just received my paper self assesment tax return for 2007/8.
Am not happy , they have completely changed the forms. We will now have to go thro every page, read all the guidance notes.:eek:
What a pain. Usually it was quite easy ,just copy sections from previous year no need to read guidance notes, just fill in different amounts.

I wish they could keep things easy ,simple and stop changing things just for the sake of it.

Oh well give me something to read (study) over the weekend :cool:

BTW the deadline for paper assesment is now 31 Oct , not any longer 31 Jan .

Alan

avantra

If you do it online your deadline is 31/01/09.

Not sure if they changed the online form but I will check when I finish fishing tonight.:cool:

dori2o

Not seen one yet but they are supposed to be simpler to understand.

Also with regards to the online system, I believe it is now possible to do almost all of the return online, where as in the past it was only certain sections that were available.

TurnaroundSue

dori2o wrote: »

Not seen one yet but they are supposed to be simpler to understand.

Also with regards to the online system, I believe it is now possible to do almost all of the return online, where as in the past it was only certain sections that were available.

You have me worried now as I have completed the online form for the last 2 tax years and have managed to do it ALL online - please can I ask what you are referring to when you say only certain sectons were available - worried now that I might have missed something out

Mikeyorks

TurnaroundSue wrote: »

please can I ask what you are referring to when you say only certain sectons were available

.... only certain of the supplementary pages were available to do online. More (such as CGT) are added from April 2008 :

http://www.hmrc.gov.uk/carter/saonline.htm#27

TurnaroundSue

Mikeyorks wrote: »

.... only certain of the supplementary pages were available to do online. More (such as CGT) are added from April 2008 :

http://www.hmrc.gov.uk/carter/saonline.htm#27

Thanks Mikey - don't have anything to do with CGT so hopefully am okay:j. Last thing I wanted was a BIGGER tax bill :eek:

talkinpeace

Do it online and then the right boxes pop up.
If your return is too complicated to use the HMRC software, your accountant will have software that will do the trick.
Panic not.

jem16

avantra wrote: »

If you do it online your deadline is 31/01/09.

Not sure if they changed the online form but I will check when I finish fishing tonight.:cool:

Layout slightly different from last year.

Savings interest has now to be entered as net and not gross. Dividend payments have to be entered without tax credit added. You need to take care here to make sure you enter correctly.

You used to be able to view and save your tax return as a pdf document - it basically looked like the actual tax return. Now you can only save an html version and it just looks like a summary page with a list of question numbers and values.

John_Pierpoint

[FONT=&quot]In the last 3 years I have had problems with the differences; I would prefer to use the On-line system, if I could.

1. I had earned a small amount part time and my "employer" had deducted tax and sent me an incomplete P60. The On-line system refused to accept the details without a "Cxxxx" reference. Not wanting to miss the end of January deadline, I submitted the return and wrote a letter explaining the missing income. I later managed to get the missing reference and the tax people agreed that as OK.

2. I had disposed of an asset worth more than the 30 something that requires that you report it. So I filled in the on-line system and sent in a letter giving details of the asset THAT SHOWED THAT THERE WAS NO CGT PAYABLE. The tax authorities sat on my letter for months and then a week or two before the deadline got really stroppy about requiring all the figures on the proper PAPER forms. Including a 1981 valuation of the asset, not just my opinion:rolleyes:. My suggestion that CGT and Income Tax were two different taxes did not go down too well.
So I wasted at least 2 days of my life getting together on paper the information already provided. (No CGT payable!).

3. I had interest from a foreign company paid without deduction of tax, so having learned my lesson from the previous year, had to submit the whole shooting natch on paper. (It would probably have been cheaper to give ALL the foreign interest to the tax man).

Presumably for last year 07/08, the foreign interest still means I have to do the whole shooting match on paper before 31st October? [/FONT]