Tax return avoidance

Discussion in 'Off-Topic Chat' started by Suzi Q, Jan 21, 2018.

  1. Suzi Q

    Suzi Q Member

    Messages:
    41
    So is anyone else doing their tax return still, or are you all really organised? How many of you that are doing it keep sneaking on here, just to check it out, to find no one has written anything since last time you popped in?

    I hate tax returns!

    Suzi
     
  2. Jack E

    Jack E Well-Known Member

    Messages:
    991
    As far as I know, the only people on this side of the Pond who do tax returns are people running businesses. Certainly, in the 50 years that I worked, I don't ever recall doing one (is it for federal rather than state taxes, or do you have to one for each?).

    Mind, I have been told by friends in the US that tax returns are responsible for most of their grey hairs, so I can only sympathise!

    Best regards,

    Jack
     
  3. rootertooter

    rootertooter New Member

    Messages:
    24
    I think you will find all self employed in the UK have to.
     
  4. Jack E

    Jack E Well-Known Member

    Messages:
    991
    Ah, sorry, I didn't make myself clear on that point; I did know that self-employed people have to do that (from a self-employed brickie I know), but I lumped those in with 'people running businesses', as - from the taxman's point of view - that's what they are.
     
  5. Suzi Q

    Suzi Q Member

    Messages:
    41
    I’m in the U.K. and teach Piano privately, therefore I have to do a tax return. Hate it and every year I promise myself I’ll get it done earlier next year!

    We’ll see
     
  6. Jack E

    Jack E Well-Known Member

    Messages:
    991
    I can only sympathise, Suzi; as for "I promise myself I'll get it done earlier next time" - you're singing my song . . . :oops:

    Jack
     
    Suzi Q likes this.
  7. GER

    GER Active Member

    Messages:
    123
    How do you think I feel? Got 38 to do in 8 days-what a way to make a living:(:( Roll on february lots of sleep and quiet days
     
  8. Jack E

    Jack E Well-Known Member

    Messages:
    991
    Maybe you should have a career change, GER, and go in for organised crime - such as whitemail.

    It's a sort of a mirror image of blackmail; for example, threatening Vinnie Jones that if he doesn't send you lots of dosh in a plain, brown envelope, you'll let the world know that he's a dab hand at petit-point embroidery . . . :D

    Hang in there, buddy!
     
  9. Suzi Q

    Suzi Q Member

    Messages:
    41
    38! And I bet no one got round to giving you the info early enough to get it done any earlier?

    I do feel for you!

    Suzi
     
  10. John Brooks

    John Brooks Well-Known Member

    Messages:
    1,187
    Location:
    Cambridge, Ontario, Canada
    Sort of like.........Someone said 'Get a life' but I became an accountant instead :eek: !! That's life in Canada where we all have to file annual tax returns. While I try to keep my stuff organized throughout the year I find I'm generally rushing to get my paperwork organised and into my accountant early enough so as not to incur the higher last minute costs.
     
    Suzi Q likes this.
  11. Suzi Q

    Suzi Q Member

    Messages:
    41
    What date of the year do you have to have yours done by John?
     
  12. John Brooks

    John Brooks Well-Known Member

    Messages:
    1,187
    Location:
    Cambridge, Ontario, Canada
    Personal tax returns must be in by April 30. Right now that seems a long way away :)
     
    Suzi Q likes this.
  13. 2nd tenor

    2nd tenor Well-Known Member

    Messages:
    1,239
    Location:
    Chigley
    Of course if you were employed by some large concern you would be on PAYE and not (normally) need to worry about all of this. On the other hand said concern can dominate your life, go bust in a matter of months and leave your financial fortunes in tatters. At least being self employed you have many different people ‘employing’ you and aren’t dependant on the fortunes of any particular one. Better still, as a Music teacher, you have a lot of long term and repeat customers; I doubt that it’s all roses but it looks like it’s worth the tax hassle and a nice enough way of life to me. Would you want to do anything else?
     
  14. GER

    GER Active Member

    Messages:
    123
    No everyone thinks they are the only client and the return only takes 5 minutes:mad::mad: (to be fair most of our clients are quite good, just some think that if the return goes in 'early' they have to pay the tax 'early'
    Oh well back to the grindstone-good day yesterday only 32 left now.
     
    Suzi Q likes this.
  15. 4th Cornet

    4th Cornet Active Member

    Messages:
    259
    I learnt for myself some time ago that doing it early makes it so much easier. When left to the last minute, the start of the return period is almost 2 years ago - its very easy to get paperwork and facts and figures muddled when going back that far. Mine is usually done in May when the relevant statements are available.
     
  16. David Mann

    David Mann Member

    Messages:
    738
    Location:
    Athies, Pas de Calais, France
    My UK one is all done, I'm fairly organised. I have the French one to do later in the year. To an earlier point, HMRC put you on the tax return list if you have paid higher rate tax, own shares, rent out property, run or own a business and other reasons known only to them.
     
    Suzi Q likes this.
  17. Suzi Q

    Suzi Q Member

    Messages:
    41
    Nope! Ironically I am also employed 3 Days a week though!

    However I love what I do, I just hate the tax return part!

    Suzi
     
  18. Suzi Q

    Suzi Q Member

    Messages:
    41
    I want to do mine over the summer holidays this coming year. Determined in fact! I’m too busy these days in term time and it’s just too much stress!

    Suzi
     
    4th Cornet likes this.
  19. Jack E

    Jack E Well-Known Member

    Messages:
    991
    A friend of mine used to work for an accountant, and said their practise had two customers, both of whom ran one-man businesses.

    One used to come in with everything neatly and legibly entered up in one of those double-sided books, with all the cheque books, statements, invoices, etc, neatly docketed together and all in date order :); the other used to show up with a HUGE cardboard box, with everything just thrown in at random! :mad:

    The second bloke could never understand why his accountant's bill was so high, considering how small a business he had . . . :rolleyes:
     
    mikelyons likes this.
  20. GER

    GER Active Member

    Messages:
    123
    :):):):):):):):):):):):):):) 1st February is definitely, in my eye, the best day of the year
     
    Suzi Q likes this.
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