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Chit Chat
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17 Jan 10
08:51
Joined:
Date Joined:
22 Oct 09
I hate allthis b.ollox. My companies financial year is July - June. So end of April this year I have to hand in my books for the year July 2008 - June 2009. From this period I only worked july - oct 08 and then june 2009. from nov to dec 08 I wasn' working or on the dole from jan 09 - may 09 I was on the dole. From August 09 to present I have been working as a permo wth the council. Clear as mud i'm sure.
Do I have to do self assessment? If so for what period should it cover? I can't tell them what I earned through my company because I haven't done the books yet. I still have to send the cmpany books in separate, and I thought PAYE meant they knew how much tax I'd payed and how much I'd earned for the period on the dole and working permo. It seems to me they will get all the info and money anyway, do they just want me to collate the infor for them? lazy barstewards.
Do I have to do self assessment? If so for what period should it cover? I can't tell them what I earned through my company because I haven't done the books yet. I still have to send the cmpany books in separate, and I thought PAYE meant they knew how much tax I'd payed and how much I'd earned for the period on the dole and working permo. It seems to me they will get all the info and money anyway, do they just want me to collate the infor for them? lazy barstewards.
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Replies: 29
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The Tax Year runs from 5th April 2009 to 4th April 2010 ...
I recc you Phone the Local Tax office ,they are very helpful, and tell them your position .. that June 2009 is a bummer , otherwise you would be PAYE only .. |
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so how can i do self assessment up to april 2010 when it hasn't even happened yet? what is this jan 31 deadline they all talk about?
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jan 31st is the deadline for the first installment of tax to be paid - relates more to sole traders than anyone else
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I am ltd company and paye. not a sole trader.
Can I forget about it? (please say yes) |
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make the call ..be safe ..
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the relevant tax year ended 05/04/09 not 10
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Probably, unless you have received a tax return to complete (or a notification to send one online), or if you received any untaxed income in the year to 5th April 2009. If you have it has to be reported and the tax paid by 31st January.
I would have thought the person who does the company books should be able to advise. |
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Limited Companies have to file accounts at Companies House and hold at least one minuted board meeting a year :-)
i kid you not .. |
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JamesBlakesHugeArse 17 Jan 10:04
the relevant tax year ended 05/04/09 not 10 =============================== you missed his June 2009 work entry james |
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The company will have had to send a PAYE return for y/e 5.4.09 and you sould have a P60 for that year showing details of Pay and tax deducted.
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why does that matter? it isnt in the relevant tax year
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my accountant said i didn't have to. when i went permo at the council and i was sorting out tax code and that i rang up the tax office and they reckon i should do. but i don't trust those tax people, they'll just tell you to do everything cos their lazy. Surely my permo companies tell them what i've earned, and when i do my books they will find out what i earned through ltd companies.
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If he had been a Sole Trader and worked 2008-09 he would have done last years by now
and then he is Self - assessed in ADVANCE for 2009-10 by himself so the Tax man gets half his Tax money half way in advance .. |
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to james ^^
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jbha:
are you saying that by jan 31, I have to have paid the tax for the tax year apr 08 to apr 09? But most of that falls within my company tax year which is jul 08 to jun 09. And I haven't done the books for that, because I don't have to do that until end apr 10. So I don't have the info. |
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sure - payments on account...but he isnt a sole trader
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If everything you have earned has had tax deducted under PAYE using the correct tax code, and you havent received a return or a notification to complete, you shouldn't need to send a tax return.
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Well I do have the info, just haven' collated it yet.
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Regardless of your year end, you should have sent in an end of year PAYE return for y/e 5.4.09 by May 19th 2009. This will have details of your earned income for that year.
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As i remember, your company is assessed in the tax year in which the company year end is - so for you that will be 09/10...however there are different rules if it is the first year in which accounts have been drawn and if the accounts are drawn for longer than 12 months.
I did my exams a long time ago though so things might have changed, including my memory |
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I will give accountant and tax office call tomorrow, but I guarantee i won't get a straight answer between them and that I am absolutely fuming by the end of the working day.
Thanks for your help. |
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I am off to complete my friend's self assessment tax return now, he is a sole trader. Good luck.
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as an individual you worry about what you have received - if it has all been PAYE then fine dont worry about the Tax Return - if you have sold a load of stuff producing big gains, or received dividends whilst in higher tax rate band, or your bank interest needs extra tax etc etc then you might have to send in a return
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Fenway 17 Jan 10:14
Regardless of your year end, you should have sent in an end of year PAYE return for y/e 5.4.09 by May 19th 2009. This will have details of your earned income for that year. Not sure, maybe my accountant will have done, but he only has my books up to end june 2008. how can I give a paye return when I haven't done the books yet? |
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You are a salaried director/ employee of your own company? The income that you receive should be taxed under PAYE at source before you receive it, and tax paid over to HMRC every month (or every three months depending on circumstances). At the end of each tax year (5th April) you are obliged to complete an end of year return shouwing HMRC all of pay and tax deducted, and at the same time issue a P60 to each employee so they cam complete a tax return (if they need to).
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Fenway 17 Jan 10:21
You are a salaried director/ employee of your own company? Not sure. For the year july 07 to jun 08 (the only year to date for which I have done books) I got paid as a dividend, so not salaried/paye generally. |
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I would have a word with your accountant rather than the Tax Office. He/she ought to be able to advise.
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have sent accountant an email. Will ring and/or visit him tomorrow. Trouble is I don't proper trust him, he nearly fekked it up last year. And I've just received another letter from companies house asking if I want to dissolve the company because i haven't filed my returns (details of director/secretary etc). ffs, I thought he did all that.
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cheers again for you help fen/jbha/joe
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