Question / Discussion Tax

[rich110991]

Hi everyone, hope you’re all good.

I’m just wondering when I have to declare my tax for April 2020-2021? Am I right in thinking it is April? In a couple of days? So confused.

 

[Sherliarty]

Yes. The current tax year-ends on 5th April and you can fill out your tax assessment online anytime after this date. You normally have until the end of Jan to complete it.

 

[Jon]

Hi everyone, hope you’re all good.

I’m just wondering when I have to declare my tax for April 2020-2021? Am I right in thinking it is April? In a couple of days? So confused.

From April 5th

 

[rich110991]

Thanks both. When you fill it in, does it tell you right away what you owe? If anything?

 

[Sherliarty]

Thanks both. When you fill it in, does it tell you right away what you owe? If anything?

Yes

 

[sam1]

Do you guys do you own taxes or get an accountant. This is the 1st year I will need to do a self assessment as I made a few quid on the stockmarket

If accountant - how much should I expect to pay roughly? Thanks in advance

 

[homie]

Do you guys do you own taxes or get an accountant. This is the 1st year I will need to do a self assessment as I made a few quid on the stockmarket

If accountant - how much should I expect to pay roughly? Thanks in advance

It's straightforward, I do it myself. But I suppose if someone is making Gold Lamborghini money then it would be worth using an accountant because they would know of any loopholes or anything that might save a considerable sum.

 

[Sherliarty]

Do you guys do you own taxes or get an accountant. This is the 1st year I will need to do a self assessment as I made a few quid on the stockmarket

If accountant - how much should I expect to pay roughly? Thanks in advance

I do my own. If you are making money on the stock market, might be an idea to use stocks and shares ISA which means you don't have to declare anything to the taxman.

 

[rich110991]

Do you guys do you own taxes or get an accountant. This is the 1st year I will need to do a self assessment as I made a few quid on the stockmarket

If accountant - how much should I expect to pay roughly? Thanks in advance

I’m doing my own.

 

[Jon]

Do it myself

 

[sam1]

Wow - I didn't realise so many people did their own self assessment return.
Might check it out and see what it involves. I have some crypto and shares to report but otherwise I expect it's fairly simple .... Thanks!

 

[Jon]

Wow - I didn't realise so many people did their own self assessment return.
Might check it out and see what it involves. I have some crypto and shares to report but otherwise I expect it's fairly simple .... Thanks!

Millions do.

In a nutshell it's basically

I made an income of X amount
I spent Y amount of money on expenses

That's it