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#1 10-01-07 17:57:52

sue martin
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From: National area franchises
Registered: 21-01-05
Posts: 333
Website

Its that time of year again.......

I know the ads are on the tv. and no doubt on the radio too but just a little reminder for anyone who was hoping to let it slip there mind that the tax man wanteth his pound of flesh, or bunch of fivers if you prefer by the end of this month.....payment can be done online by debit card if you wish (probably the quickest and easiest way) or 100 squid penalties if its not paid ontime...

Sue


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10-01-07 17:57:52

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Re: Its that time of year again.......




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#2 10-01-07 19:38:10

c-way
Verified Member
From: Peterborough
Registered: 03-10-06
Posts: 1,170
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Re: Its that time of year again.......

Happy New Year!  wink


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#3 10-01-07 20:27:01

Karenadi
Guest

Re: Its that time of year again.......

Well thanks for making my day.   :'( :'(

;D ;D  I already saved it up: parting with my lovely hard earned money this weekend. sad


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#4 15-01-07 10:52:14

Target
Verified Member
From: Winchmore Hill North London
Registered: 17-01-05
Posts: 5,695
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Re: Its that time of year again.......

Its feel so painful handing over so much money all at once.

Wish they would let us pay on Credit Card. Damn annoying that is.


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#5 15-01-07 21:53:17

Karenadi
Guest

Re: Its that time of year again.......

Why not just set up a standing order and pay them a bit each month: be just like really going to work then.  Think I'm going to from next month as I hate handing over large sums of money when I'm not getting anything for it. 

I consoled my self whilst paying them today by calling them a string of vile and abusive names.


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#6 16-01-07 06:50:02

la.monikita
Verified Member
From: SE LONDON / KENT
Registered: 12-03-05
Posts: 3,064

Re: Its that time of year again.......

i'm going to find out if there's a way of paying slowly wink, even for this bill :evil:

anyone know?


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#7 16-01-07 15:19:17

Target
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From: Winchmore Hill North London
Registered: 17-01-05
Posts: 5,695
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Re: Its that time of year again.......

I've not checked La Mon but i normally pay online.

I sure if you have the right reference numbers to pay in you could do that and just pay a small amount each week/month.


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#8 16-01-07 17:54:10

Karenadi
Guest

Re: Its that time of year again.......

I pay online, and you just need your ref nos etc etc and set up a standing order to them for a little bit each month: that's what I'm going to do now as it grieves me seeing large sums depart my account in one go: and not getting anything for it.

#9 16-01-07 21:57:41

Jellybean
Verified Member
From: Bedfordshire
Registered: 05-02-05
Posts: 371

Re: Its that time of year again.......

But surely if you put it in an interest bearing account you can earn money on it rather than let the tax man have it. :?

Jellybean

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#10 17-01-07 21:32:00

Karenadi
Guest

Re: Its that time of year again.......

Yes, but it's only pennies really isn't it: I always think this interest thing isn't worth bothering with unless you've got thousands.  I like seeing figures in the bank, and I hate removing it: so if I don't see it in the first place, I shan't have to remove it shall I?

#11 17-01-07 22:04:45

la.monikita
Verified Member
From: SE LONDON / KENT
Registered: 12-03-05
Posts: 3,064

Re: Its that time of year again.......

surely you can only pay the "on account" bit by bit? i don't want to give them 3k just now :cry:


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#12 17-01-07 22:06:07

Karenadi
Guest

Re: Its that time of year again.......

3k?  Flip you need a new accountant: how many hours do you work?  Mine was £500 ;D   And I objected to that.


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#13 17-01-07 22:22:41

la.monikita
Verified Member
From: SE LONDON / KENT
Registered: 12-03-05
Posts: 3,064

Re: Its that time of year again.......

3k?  Flip you need a new accountant: how many hours do you work?  Mine was £500 ;D   And I objected to that.

fook that, my hubby (bathroom fitter paid £200) am going with that accountant next year, i sourced him as well.

apparently i made 12k profit  roll 19k turnover, this being my 1st full year in selfemployement  roll, but i only took hols to do my paperwork, ie filling out sheet and adding it all up for TIC accountants FBTC- never again  roll

so out of 12k profit i have to pay 1.9k tax and Ni and another £950 for the current tax year ie on account. so £900 quid sitting n their coffers for 6 month make heck more money then in mine, but it's still better in mine  roll

SO.......................... anyone with a calculator?

i have £800/month bills mortgage/gas blah, blah. if i pay/earn so much i come out with £50 quid short to pay my bills let alone eat  roll

hmmmmmmmmm DOes not add up..................EVAN!!!! i'm going on holiday lol holiday's

just lucky i have savings and a rich boyfriend my ex hubby does not know about :evil: pmsl


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#14 17-01-07 22:30:15

Karenadi
Guest

Re: Its that time of year again.......

Well on those figures you aren't much different to me: I've been 6 years now and used same accountant throughout: my hours have stayed fairly static: my income has increased due to price increases: but in my first year I didn't pay any tax due to setting up costs etc: second year was v. low: in fact this is the highest tax bill I've had so far...........she did tell me tax man would expect to see profits go up after the first 2 years, but it's still not massive really compared to being employed because you have all the business overheads to pay out: I'd be seeing a local accountant that you can talk to: ideally one that's recommended.

#15 17-01-07 22:34:29

llthomas21
Verified Member
From: west wales
Registered: 21-07-06
Posts: 227
Website

Re: Its that time of year again.......

Can someone explain this to me?

Went on pink sept 2006 & gone with fbtc as they had 6 months free.

Haven't heard off them so when do I get my 1st bill?


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#16 17-01-07 22:40:53

Karenadi
Guest

Re: Its that time of year again.......

your first years go  in in Sept 2007: you'll get your first bill for the following year.  Have you registered with tax office as self employed?  'cos you are supposed to: ask accountant for advice if you've not done it.


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#17 17-01-07 22:45:00

la.monikita
Verified Member
From: SE LONDON / KENT
Registered: 12-03-05
Posts: 3,064

Re: Its that time of year again.......

Can someone explain this to me?

Went on pink sept 2006 & gone with fbtc as they had 6 months free.

Haven't heard off them so when do I get my 1st bill?

one get in touch with them!

two, would be better/ cheaper and less form filling if you go to someone else roll

am sure someone on here knows someone in your area to be better and not the parts of TIC roll


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#18 17-01-07 22:47:29

Karenadi
Guest

Re: Its that time of year again.......

agree.  Accountant gets all my receipts, bank statements, credit card bills and diary in a plastic carrier bag: and they magically come back to me in a nice folder, all in order with a nice spiral bound set of accounts to go with them: cost £300: effort on my part: taking carrier bag to office once a year.

#19 18-01-07 09:09:09

Target
Verified Member
From: Winchmore Hill North London
Registered: 17-01-05
Posts: 5,695
Website

Re: Its that time of year again.......

Firstly.....I've been putting money away, still about £1k short but the rest is in Premium Bonds....Needed to take that out at the end of December.

But still left with the same problem of paying a large lump sum, now its in the bonds I do not want to lose them. Damn it!....

La Mon.....It sounds like you may have grown your business....My Tax bill is over £4k but when you look at the earnings and take off the costs multiply by 22% your left with the tax bill which is what every Tom Dick and Harry pays out their earnings every week, unless of course you are married and get other income support.

Whats changed it for me is between 2005 and 2006 I've increased my income by £10K on the previous year.

I'm still considering thou getting another opinion because if im earning all this money......THEN WHERE IS IT???


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