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Business: Online Tax Return - Don’t Panic!
by Helen Shorey of www.helenshorey.com
Filing your tax return online is it slows down – if you wait until then • If you have a full or part time
relatively easy as long as you to register, you may miss the st job where tax and national insurance
don’t have lots of large expensive January deadline whilst waiting for are deducted from your pay, you will
equipment, rental income, stocks & your confirmation letter and then need your end of year P0.
shares and aren’t refurbishing your the fines start to kick in.
work premises. If you do have those • If you’ve changed jobs
things then I strongly suggest you So, you’ve got to the front page and during the year, you will need the
get yourself a qualified accountant it all looks a bit daunting – look for P part  for each job - this will help
– they will save you worry and hassle the box near the top with a purple breakdown your annual figure and
at least and possibly even cash too. header marked ‘Individuals & gives the various tax references for
Employees’, halfway down it says ‘self the different employers.
If you are newly registered as self assessment’ – this link will take you
employed and this is your first tax to lots of useful information that is • If you have received
return, probably the most important well worth reading through. It gives expenses, company car etc from
advice I can give is DO NOT leave it help with records to keep, records your main job, they will have given
to the last minute! You will need to you need to gather before you start you a PD – you will need this for
register for an account using your filling in the form, who needs to fill in your tax return too.
UTR (Unique Tax Reference found on a return and the various deadlines.
any correspondence from HMRC to • If you have savings, you will
you) at www.hmrc.gov.uk and they need your end of year statement
will send you a confirmation letter which shows your interest and how
with your PIN number and User ID. much tax the bank has retained (if
This can take 7-0 days but in January any).
2 | ukhandmade | Autumn 2009
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