Tax return time!

RickyRaj

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RickyRaj said:
Waiting for some paperwork to come in before I do mine. Will be done this month.

Tax return done and it looks like I'm due some money from the Tax man ;D
 
Q

queen81

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Ive done mine - I am very proud of myself as I always wait til Jan 31st :)
 

Rachael84

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Hi I have earned money through field agent and I'm just tring to do my tax return im all ready confused whether in classes as self employed or as an employer. If I put self employed it asked for business name but I don't have a business. What do you out on tax return .

Thanks
Much help needed
 

Jon

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Rachael84 said:
Hi I have earned money through field agent and I'm just tring to do my tax return im all ready confused whether in classes as self employed or as an employer. If I put self employed it asked for business name but I don't have a business. What do you out on tax return .

Thanks
Much help needed

It's self employed

just put your Name where it says Business Name
 

Jon

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Rachael84 said:
Ok, it's very confusing

It can be the first time you do it but just think about it this way

All they want for last year is a big fat number

It doens't matter who you have worked for or how much you have made from each company individually, all they want is the BIG FAT NUMBER
 

mikey1090

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Guys I know this is an old topic but you're in a similar situation to me.

Did you choose to open a seperate business bank account to simplify things by keeping your self employed earnings seperate?

I'm looking into this and unsure which bank to apply for. They all offer 18 months free from fees and things like that, but assuming I wasn't paying in cash or cheques would I need to worry about fees?
 

Jon

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mikey1090 said:
Guys I know this is an old topic but you're in a similar situation to me.

Did you choose to open a seperate business bank account to simplify things by keeping your self employed earnings seperate?

I'm looking into this and unsure which bank to apply for. They all offer 18 months free from fees and things like that, but assuming I wasn't paying in cash or cheques would I need to worry about fees?

Hi [member=1797]mikey1090[/member]

I don't have a separate business bank account - I don't see any need for one, just a regular personal one with HSBC but I understand you can get free ones also from Halifax

It makes it easy for me as when it comes to tax return i just simply do a statement for the last 12 months of all in-comings and then I have my total to put into my self assessment
 

mikey1090

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Thanks for the reply Jon.

I just thought it might make sense to keep all my business money seperate from my salary/bills/food etc money that's in my current account at the moment.
 

Jon

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mikey1090 said:
Thanks for the reply Jon.

I just thought it might make sense to keep all my business money seperate from my salary/bills/food etc money that's in my current account at the moment.

is it business money for a reason?

is it not just self employed like the rest of us on here?
 

Jegglejeggle

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Hi, if you are that worried just open up a savings account which will accept direct debits, standing orders etc and use that for all your self employed earnings, or internet earnings, as Jon said if you use PayPal make sure you can transfer these earnings over to that account.

If you were a big business with huge amounts of transactions then yes a business account is advisable, but we are surely only small fish in a very big pond!

The year before last I had a random tax check, purely checking that what I had said I had earnt was true, by having a separate account this makes it slightly easier if you have to print anything off to show them.

I use Halifax and you have a visa bank card with it, some banks have only cash withdrawal cards for their savings account.
 

mikey1090

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Jon@TheMoneyShed said:
mikey1090 said:
Thanks for the reply Jon.

I just thought it might make sense to keep all my business money separate from my salary/bills/food etc money that's in my current account at the moment.

is it business money for a reason?

is it not just self employed like the rest of us on here?

Yeah sorry I meant self employed earnings. I'm going to get another account purely to keep my other online activities like matched betting and things like my rent completely separate from self employed earnings.
 

Jon

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I WILL do mine today

Bought my p60 home and everything
 

katykicker

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come on Jon!

I've got to pay my NI class 2s this week. Got the money just no motivation to turn laptop on to do it.
 

katykicker

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What about checking your bank [member=362]Kelzky[/member] to see what you were paid? If it wasn't enough to pay tax that should help :)
 

Flitterbug

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Everything I earned last year was not enough to pay tax - I have records of what I earned online in a spreadsheet, so looking up the mother stuff on my bank statement shouldnt be too hard :)
 

Jon

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Well have blasted through the NI threshold for 2014-2015 as I thought I would

this ''view your calculation screen' isn't pretty lol
 

Blackpepper1

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Jon@TheMoneyShed said:
Well have blasted through the NI threshold for 2014-2015 as I thought I would

this ''view your calculation screen' isn't pretty lol

[member=1]Jon@TheMoneyShed[/member] Do you count all your Shopandscan vouchers for tax purposes?
 

Jon

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Blackpepper1 said:
Jon@TheMoneyShed said:
Well have blasted through the NI threshold for 2014-2015 as I thought I would

this ''view your calculation screen' isn't pretty lol

[member=1]Jon@TheMoneyShed[/member] Do you count all your Shopandscan vouchers for tax purposes?

No I don't include shop and scan vouchers in my total
 

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