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| RS2MATRIX |
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RS2MATRIX
Spanner Monkey
Joined: 03 Apr 2008
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 Posted: 18:31 - 17 Jan 2011  Post subject: tax return self assessment |
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Hi folks, feeling a bit of a knob at the moment.
Offered to help out a certain attractive lady friend with her self assessment. All i really know is that she is employed, has a house that she rents out and the rent is less than the mortgage she is paying.
Thats pretty much all i know, ill be meeting up with her to discuss it etc. (the only f**king reason that i offered to help  ) but i dont 'really' know what im doing.
No financial gain for me but i would be very appreciative of any help because im gonna look a right tit.  
Cheers, nick 
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Reiju RS2 Matrix
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| JP7 |
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JP7
World Chat Champion
Joined: 22 Dec 2008
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| stinkwheel |
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stinkwheel
Bovine Proctologist
Joined: 12 Jul 2004
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Posted: 19:20 - 17 Jan 2011  Post subject: |
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Start at the beginning, answer the questions one at a time as directed until you get to the end.
You will need to referr to bank statements, pay slips, investment certificates etc.
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“Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles. |
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| RS2MATRIX |
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RS2MATRIX
Spanner Monkey
Joined: 03 Apr 2008
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| Posted: 19:34 - 17 Jan 2011 Post subject: |
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Thanks chaps
will i be able to have all her details in front of me, and carry on on my own computer etc. or does she need to present / do it herself?
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Reiju RS2 Matrix
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| neil. |
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neil.
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Joined: 24 Feb 2008
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| Posted: 20:29 - 17 Jan 2011 Post subject: |
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I think that in order for us to offer accurate and helpful advice in this matter, we must see photographs of the aforementioned lady.  |
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| stinkwheel |
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stinkwheel
Bovine Proctologist
Joined: 12 Jul 2004
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| Posted: 21:30 - 17 Jan 2011 Post subject: |
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| RS2MATRIX wrote: | Thanks chaps
will i be able to have all her details in front of me, and carry on on my own computer etc. or does she need to present / do it herself? |
It depends how simple her finances are. It might ask you things you'll need to go and look up. If she's PAYE and has a savings account, you'll need her last P60, her last wage slip, her P11D (if she has one) and a copy of the interest statement from her bank account(s). All pretty straightforward but they shouldn't really be asking for a tax return for her. I had some untaxed income one year and had to do them for the next three years.
If she's had multiple jobs, has investments or has been self-employed or has any income that isn't taxed at source, you'll need details of that and it can get more complicated.
You can note down the details you need, save where you're up to and go back to it later.
Can be helpful to have a flick through to see what documents you'll need but as I said, I found it easier to start at the beginning and work through when actually completing it to avoid missing anything.
Any details of work related expenses she's payed out of her own pocket are handy too, you can claim the tax back off them. I claimed the tax back for my professional society membership fees, work clothing and a pro-rata portion of my utility bills for the branch surgery which is in a downstairs room of my house (based on square feet).
If they land up owing you money every time you fill one out, they soon stop asking for them 
____________________
“Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles. |
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Old Thread Alert!
The last post was made 15 years, 274 days ago. Instead of replying here, would creating a new thread be more useful? |
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