My accountant did mention that but he is also aware that if you get the figures wrong they grab every single penny of interest/fines they can. As I could afford Jans payment it's simpler and safer just to do
2009/10 as soon as my tax year ends which is 3 months before the July payment.
I found that even a telephone call giving that information works.
Hah!
My refund is bigger than your refund. Nyah nyah etc.
They told me last year that they would adjust my tax code to take everything out as PAYE, then slapped me with a notice for payment in advance. I queried this but was told to pay up.
Put in my return a few weeks ago and was told I was due over a grand in refund "Not including any pre payments already made" or words to that effect.
Just checked my account and I have had all my pre payments given back. No interest, though.
At least it will help pay for the shed {there - back on topic}
OK, so what do you do if you discover you've done it wrong? I declared some share income which I assumed wasn't taxed, and thus paid the tax on it. It turns out my employer has already paid the tax via PAYE, so I shouldn't have declared it. So I've paid £150 tax I shouldn't have.
Andrew Gabriel wibbled on Monday 01 February 2010 19:44
I'd phone them. The grade of person answering the phone varies but at least it won't cost anything.
I'd ask if a) you can submit a correction; b) Correct it next year (I know...)
Interesting that Income Tax was first brought in as a temporary levy in 1798 to raise funds for the Napoleonic war (trust the French to be in there somewhere)
Now you have to spend time doing what Inland Revenue (HM Rev & Customs) is paid to do ... and get fined if you submit late !
After mine was filed, I think I saw a link on the website to submit a corrected return.
IIRC, provided you do so within 112 months you can correct it online
otherwise you have to write to them,
tim
I made a mistake like that a couple of years back...
I usually start by preparing a spreadsheet of all the info I need - saves looking about for stuff when doing the actual return, and you can also pre-check the answers are sensible. I start with last years spreadsheet. The danger comes however when you forget to close the previous years sheet after creating a copy for this year! I ended up using salary from the current year, but tax paid from the previous one - when I took twice the salary the previous year. Noticed it about 30 secs after pushing the submit button. Net result was it triggered an unwarranted repayment. So I spoke to them, and they said send a letter as it was too late to amend the online one once it had been submitted. Still its a handy trick to remember if you want a short term loan from them for a few weeks!
Well I started it in plenty of time, but as a spur to finish it I stopped downloading several newsgroups, including uk.d-i-y. I finished off the last 50% last week in a couple of hours
Wow what a lot more spare time I had, but the DT's were starting so I've had to come back. :)
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