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deeege

  • Posts: 5008
Final day to file that tax return….
« on: January 31, 2023, 07:53:37 am »
Anybody else left it until the last minute like me?  Just completed and tax will be paid this evening.

I’m guessing quite a few on here will have extra to pay this time around, due to the SEISS Covid grants bumping up their income for this tax period?
"....and it's lend me ten pounds, I'll buy you a drink, and mother wake me early in the morning."

zesty

  • Posts: 2452
Re: Final day to file that tax return….
« Reply #1 on: January 31, 2023, 08:16:42 am »
Anybody else left it until the last minute like me?  Just completed and tax will be paid this evening.

I’m guessing quite a few on here will have extra to pay this time around, due to the SEISS Covid grants bumping up their income for this tax period?

Not this tax year, but last tax year had a much bigger bill due to three grants. Was still worth doing though, I’ve still not got back those lost jobs.


deeege

  • Posts: 5008
Re: Final day to file that tax return….
« Reply #2 on: January 31, 2023, 08:18:28 am »
Anybody else left it until the last minute like me?  Just completed and tax will be paid this evening.

I’m guessing quite a few on here will have extra to pay this time around, due to the SEISS Covid grants bumping up their income for this tax period?

Not this tax year, but last tax year had a much bigger bill due to three grants. Was still worth doing though, I’ve still not got back those lost jobs.

I was only able to claim the final grant so was only effected this tax return.
"....and it's lend me ten pounds, I'll buy you a drink, and mother wake me early in the morning."

zesty

  • Posts: 2452
Re: Final day to file that tax return….
« Reply #3 on: January 31, 2023, 08:21:44 am »
Anybody else left it until the last minute like me?  Just completed and tax will be paid this evening.

I’m guessing quite a few on here will have extra to pay this time around, due to the SEISS Covid grants bumping up their income for this tax period?

Not this tax year, but last tax year had a much bigger bill due to three grants. Was still worth doing though, I’ve still not got back those lost jobs.

I was only able to claim the final grant so was only effected this tax return.

Did you have a higher turnover?

I’m so glad I took them, the damage done to my business was significant, eg lost a £315 contact that’s never come back. As well as other pubs and small offices.

The worst part about doing tax return late is that it can take 72 hours for the sums to finalise! Usually do mine between September-December to make sure it’s all updated.

deeege

  • Posts: 5008
Re: Final day to file that tax return….
« Reply #4 on: January 31, 2023, 08:24:47 am »
Anybody else left it until the last minute like me?  Just completed and tax will be paid this evening.

I’m guessing quite a few on here will have extra to pay this time around, due to the SEISS Covid grants bumping up their income for this tax period?

Not this tax year, but last tax year had a much bigger bill due to three grants. Was still worth doing though, I’ve still not got back those lost jobs.

I was only able to claim the final grant so was only effected this tax return.

Did you have a higher turnover?

I’m so glad I took them, the damage done to my business was significant, eg lost a £315 contact that’s never come back. As well as other pubs and small offices.

The worst part about doing it all late is that it can take 72 hours for the sums to finalise!


Similar turnover to the previous year, when the grant is taken into consideration. I also lost a considerable amount of work to Covid but it all came back, plus some.

I’ve done my return online today, transferred the data from Quickbooks, it was instant.
"....and it's lend me ten pounds, I'll buy you a drink, and mother wake me early in the morning."

zesty

  • Posts: 2452
Re: Final day to file that tax return….
« Reply #5 on: January 31, 2023, 08:34:00 am »
Yeah it can just take a couple of days to update the payment on account sums etc.

I’ve had it where it says ‘££££ due’ straight after doing the return, but then a few days later it’s updated and the amount due has changed!

simon w

  • Posts: 1647
Re: Final day to file that tax return….
« Reply #6 on: February 01, 2023, 01:23:10 pm »
Just been told by accountant I have nothing to pay this year and the IR need to repay me 8.5K happy days 😎

Smudger

  • Posts: 13438
Re: Final day to file that tax return….
« Reply #7 on: February 01, 2023, 01:30:00 pm »
Just been told by accountant I have nothing to pay this year and the IR need to repay me 8.5K happy days 😎

Result!

Darran
Never argue with an idiot, they will only bring you down to their level, and beat you with experience

SB Cleaning

  • Posts: 4287
Re: Final day to file that tax return….
« Reply #8 on: February 01, 2023, 02:13:24 pm »
Just been told by accountant I have nothing to pay this year and the IR need to repay me 8.5K happy days 😎
New vans and equipment then is it .

NWH

  • Posts: 16952
Re: Final day to file that tax return….
« Reply #9 on: February 01, 2023, 02:55:12 pm »
Nice one I had a terrible accountant for a few years while they took over the other one I used before,charged me over a 1000 notes just for a Tax return the only thing was they missed out wages for 2-3 years that I’d paid out got a rebate of nearly 6k.