Not sure about anybody else that needs to file a tax return, but why is it that we leave it to the last minute? We know nobody wants to do it but even so!
Even at Christmas we don't leave buying presents this late!
They are bought and wrapped weeks in advance!
Join the most popular community of UK swingers now
Login
Tax returns...Why so last minute?
Well, at long last, we have managed to be excused from completing UK SATRs (but have to fill in a French return).
Given that the UK fiscal year ends at the beginning of April, 9 months should be sufficient to get it all done. Here, the fiscal year ends on 31st December and you have until May to get your return done.
There are incentives however. Many tax benefits (including remission on some tax aspects) will not be paid/allowed by the trésor if you don't complete your return (as well as heavy penalties for non compliance).
Given that the UK fiscal year ends at the beginning of April, 9 months should be sufficient to get it all done. Here, the fiscal year ends on 31st December and you have until May to get your return done.
There are incentives however. Many tax benefits (including remission on some tax aspects) will not be paid/allowed by the trésor if you don't complete your return (as well as heavy penalties for non compliance).
Quote by flower411
Not sure about anybody else that needs to file a tax return, but why is it that we leave it to the last minute? We know nobody wants to do it but even so!
Even at Christmas we don't leave buying presents this late!
They are bought and wrapped weeks in advance!
For me, it used to be the fear of actually knowing how much I was going to have to pay !!
I`m much more grown up about it now and have trained myself to keep up to date with record keeping and know what`s going on (most of the time
)Lol...We like to think we are organised but in reality there is always that last minute panic! At least the online system works (admitted, long winded and invasive it may be) and confirms your submission is complete! Doesnt mean its right, just complete!..
Sex God
Quote by GnV
Well, at long last, we have managed to be excused from completing UK SATRs (but have to fill in a French return).
Given that the UK fiscal year ends at the beginning of April, 9 months should be sufficient to get it all done. Here, the fiscal year ends on 31st December and you have until May to get your return done.
There are incentives however. Many tax benefits (including remission on some tax aspects) will not be paid/allowed by the trésor if you don't complete your return (as well as heavy penalties for non compliance).
And very complicated the French tax return is as well! I pay someone €300 a year to do mine.
Sex God
Quote by nellie-mwgc
Just let the accountant do it
Absolutely. If you have sufficient income to need to do a tax return the Accountant will save you more than he/she costs.
Quote by GnV
Our accountant is cheap and does the job well, i wouldn't be able to do it myself so i am more than happy to pay the small amount he asks for
A good accountant should be at least able to save enough from your tax bill to pay his fee....
He saves far more than that ! It's amazing what you can off set against your tax !
For me the tax return is just a formality to let them keep their claws in me. My sideline work does generate an income so I have to do a return. It certainly would not be worth me paying an accountant. Anyone who is full-time self employed should use an accountant to ensure that they are getting all the relief (TAX RELIEF!!!!) that they are due. Did all of mine in one evening a week ago. Great relief to know it was all done before the deadline....even better to know that there was to be a small refund!!!!!
Smooth1
Smooth1
