I like to be early, and we've finished with days to spare. Huzzah!
Trouble is, a year is now just long enough to forget exactly how it goes and I have to learn it again each year. I finally forced myself to look in the file this afternoon.
I had a bit of a moment this time when it said I would get back £3,200 of overpaid tax which I just didn't understand immediately. I'd actually got the wrong total tax paid figure in my head which only included pensions, the only total I'd had to add up under tax paid. This has happened before, I think, but I apparently will now have to rediscover it every year, and no doubt other things as my decline continues. I tell myself that it's just lack of any real interest in the subject that allows me to forget but what if I am really going doolally?
Of course it's fairly straightforward for those of us not in tax avoidance schemes, and better than it used to be, but I did wonder what happens to people when they reach the point where they can't get their heads round it.
Anyway, all yous who haven't got round to it yet, be consoled that the £100 penalty will not be enforced this year according to the boss, because of "Covid".
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>> better than it used to be, but I did wonder what happens to people when
>> they reach the point where they can't get their heads round it.
We dont do tax returns.
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>>We dont do tax returns.
Neither do we, but the minions of 'the clown in the palace'* deemed I paid insufficient tax on my investments this current tax year and have adjusted my code drastically.
*When a clown moves into a palace, they don't become a king. The palace becomes a circus.
Turkish proverb
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The HMRC site is a breeze. It took me about 30 minutes to do this lunchtime and more time was spent sorting out my log in details with the Post Office verification service who wanted a photo of my driving licence and a current live grab of my face to compare (the driving licence picture and my current face have very little in common - but it got authorised anyway).
This years refund is very disappointing though at less than £200 and I am used to a couple of thousand back due to the business miles rebate, and I had no business miles last year. :-(
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>> The HMRC site is a breeze. It took me about 30 minutes to do
Either you have a full set of faculties or you have cocked it up.
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>> or you have cocked it up.
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More than likely, though the website calculation was within £15 of mine.
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Never done one, wouldn't know where to start.
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I have literally just completed mine.
I always dread it in prospect and am always somewhat relieved that it's not too bad to do.
I have an Excel file set up to enter the various figures needed to arrive at the totals required - e.g. total income in rent from let property - and a note to remind me where to access those figures. I also download a copy of my current account statements for the relevant financial year, to avoid having to continually reopen them online.
Every year I get a modest refund - this time it will be £344 - so I don't understand why my PAYE (taken from my occupational pension) is always set too high (apart from the cynical idea that Her Majesty's government wishes to borrow tax-free money from me).
"... all yous who haven't got round to it yet, be consoled that the £100 penalty will not be enforced this year according to the boss, because of 'Covid'."
- I believe this is not quite right. You have until the end of February to file and thus avoid the penalty, but if you owe tax you will be charged interest.
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I completed mine in June, and all fully paid up your honour.
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>> I completed mine in June, and all fully paid up your honour.
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Humbug! :-)
I have really good intentions, on receipt of my P60, P11D and various statements from financial institutions to complete the return. All the documents arrive by the end of June usually.
Of course, good intentions evaporate and the the docs languish in the "Zippy's tax and savings box" which cost £1 from Poundland, the cost of which was not claimed from HMRC.
Then as January arrives, I get the box out and my calculation book (a nice leather bound affair with good heavyweight paper) and do the required calculations, then for some reason, leave the rest to the last working day of January.
I know not why.
Last edited by: zippy on Fri 28 Jan 22 at 20:53
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Tax Returns done - Zero
