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tax self assesment - help

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  • tax self assesment - help

    I need to fill out the online self assesment, but I dont have a clue as not done this before.

    Any adivce ? Tips ?

    Even though I have some cash left in the business account, it will be going on bills and I have made zero profit :(. How do I ensure I am not over paying tax etc????
    Coffe and a slice of your finest cake :-)

  • #2
    Re: tax self assesment - help

    help !
    Coffe and a slice of your finest cake :-)

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    • #3
      Re: tax self assesment - help

      Go to an accountant, tax is a very very complicated subject

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      • #4
        Re: tax self assesment - help

        I have a bit of experience with online tax returns... used to help my dad (he was an accountant). I dont know too much mind you but whatever happens don't worry if the figures are wrong, in the event you make an over payment you will receive that money back. there should be an option for you to request any over payment via cheque
        Last edited by Macchiato; 24-01-09, 10:29 PM.
        Hasbun Allah Wa Ni'mal Wakeel - NeVeR LoSe HoPe In Allah
        Trusting in Allah won't make the mountain smaller, but will make climbing easier. Do not ask Him for a lighter load, but ask Him for a stronger back

        www.CAGEPRISONERS.com
        - www.youtube.com/7macchiato7

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        • #5
          Re: tax self assesment - help

          Salaam

          I have done online tax returns for my property for the last 2 years. PM me inshallah if you need help.

          By the way, for 2007-08, you need to submit your tax return online by 31st January. Its always better to do it at least 2 weeks before that date because the late comers end up bringing down the website. You then end up paying interest on what is owed if you submit late.

          Ive already done mine and the final calculation including my salary was that I overpaid tax.

          I got my overpayment of tax paid into my bank account and IR did it this week!
          Last edited by Russo; 24-01-09, 10:36 PM.


          Visit: www.muslim-mums.co.uk

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          • #6
            Re: tax self assesment - help

            salams,

            well I started in middle of 2008...do I do the returns now or next year??
            Coffe and a slice of your finest cake :-)

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            • #7
              Re: tax self assesment - help

              if they sent you a tax return..its due by the end of jan 31st

              basically...if your business started before april 2008...then you are due self assessment, if it was after then it'll be due next year :)

              an accountant is a good idea, esp if you have complicated/a lot of paperwork, however, can be expensive, but the self assessment people are really helpful, give them a call if you get stuck!

              a good tip is to put away a small amount every month to cover your tax, that way you won't be stuck with a massive bill :p

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              • #8
                Re: tax self assesment - help

                salaam

                call the self assessment helpline....errors can lead to underpayments and overpayments which u really want to avoid in this day and age

                gud luk

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