How Do I Complete A Self-Assessment Tax Return? On-Screen Walkthrough
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- เผยแพร่เมื่อ 25 มิ.ย. 2019
- How to register to do your tax return: • How To Register For Se...
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This is a demonstration of how to use HMRC’s free tax return software to complete your personal self-assessment tax return. Self-employed individuals in the construction industry should particularly find this helpful, but it will help for most cases where you need to complete a tax return. This demonstrates the 2018/19 tax year, but other years will be very similar.
#self-assessment #taxreturn #walkthrough
Welcome to Basic Financials! My aim is to teach the world about the basics of finance. As something that is not taught well enough at school, my aim is to educate people into financial literacy, and hopefully save you some money along the way! If you have any questions or video suggestions, put them in the comments section below and I will do my best to get back to you! #basicfinancials #finance #money
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Use this video every year, absolutely brilliant
Great to hear, thanks!
snap back here for the 4th year
Have used your video for the last 3 years amazing work
Thank you for the support!
Thank you for this video. It was very informative and helpful!
Had to do my first tax return today this video helped me massively, cheers.
Glad it helped!
This is amazing, thank you wholeheartedly.
You're very welcome!
Thank you very much!!!
I hope my first tax return will be Ok
This helped massively cheers mate
You're very welcome!
A very informative video, explained, "step-by-step!" Thank you very much for helpful explanations and guidance. Best regards.
Thank you! I am glad it helped you :)
you probably dont give a shit but if you guys are stoned like me during the covid times then you can stream pretty much all of the latest series on instaflixxer. Been watching with my brother recently xD
@London Leighton Yea, I have been using instaflixxer for since november myself :D
This is such a great video fantastic step by step guide cannot fault this chap one bit so much I have shared this out !!!!
Thank you for sharing!!
Thank you very much for this!
No problem!
Thank you so much for this , I was struggling to find the self employment section short of contacting HMRC .
I am facing the same issue , I have the HMRC account but unable to view the self assessment section . Can you please guide me on the same ?
super helpful thanks so much
Thanks mate real helped out the with optional tax section got me again!
No problem 👍
Thank you so much!
Thanks for the question. If you are an employee claiming mileage allowance because your employer didn’t reimburse you, you claim via the employment pages. There is a box to tick when you are asked if you want to claim back employment expenses. If you are self employed you claim back in the same place as you enter your other expenses.
I've had to request a payment on my self assessment tax return. Any ideas?
I’ve been paying an accountant to do this for over 10 years. Thought I’d give it a go myself this year. This video was brilliant! Thank you!
Thanks! Im glad I could be of help :)
how time takes to get the tax refund ?
Thank you is very good film for us
very nice, very well explained.
Thanks made it a lot easier!
Glad it helped!
Fantastic video! Thank you!
You're very welcome!
Hello Zak if you are required to get a National Insurance number then you must get that before your UTR. If you don’t need a National Insurance number you can apply for a UTR and let HMRC know on the form why you think you don’t need a National Insurance number.
Thanks for helping 👍
Thanks it’s helped
thank you so much for your help.
You're welcome!
Thank you I was worried about doing it and putting it off, not so worried now and going to do it today 👍
Thank you for the video. I used to do it on paper (4 pages but most of it was irrelevant to me) it was so simple and this year I have to do it online. I will feel less nervous now that I've seen what it looks likes.
No problem at all! Glad that the video was of help :)
Thank you soo much sir it was so informative and I really appreciate your effort to make this video
No problem, I am glad it helped you!
Thanks for your reply.. I also wanted to ask you that I started to do delivery job from 25/11/2020 should I file the tax return before 5/04/2020? And should I register as self employed? And what's the deference between self employed (SA) and self employed for partnership? If you can make a video about it then that will be really great
@@mhussainahmed3842 You should register for self assessment now as self employed. When you state that you started on 25/11/20, this will tell HMRC that your future tax return will be for the tax year ended 05/04/21. You don’t need to do one for before that. Set up your Personal Tax Account so you have a code and password for the government gateway. When you get your tax reference in the post you can then register to use together self assessment service. You will get a code in the post to activate the service. You would only register as a partnership if you were carrying out the business with one or more other people, so therefore you would be a partner of that business. There might be a video coming on this in the future, but don’t wait for that, get started now. I hope this helps 😊
@@basicfinancials7654 thank you so much I wish you all the best for your channel and God bless you sir
Thanks for this. Makes me realise I don't need to be paying an accountant for this. Do you have any videos to help with entering income from a rental property? Will need to do 2 SAs with my partner as she owns 90% of the rental.
Hi, sorry for the delay in reply. I don’t yet have a video showing the rental income pages. But use together existing video to get started. You will say at the start that you gave income from rental property. This will give you the pages to fill in. You will probably find that you can cope with those pages, but do ask if you have any questions. Remember to get you and your partner set up with HMRC in good time. When you register for self assessment, you will not be saying you are self employed or in partnership. You are registering because you have taxable rental income. You will also need to set up a government gateway account, also known as a personal tax account. And register to use the self assessment service once you have your 10 digit tax reference.
Thank You sir , To make such a great Vidio SREP BY STEP , You Gave me confidence to fill my tax return myself. I am a private Hire self employed Driver Working with uber. You gave me A big confidence to do muself, Otherwise I was paying 150 £ and went to work 2/3 Days to bring this money. God bless you, Sir
Thank you for your kind words, I am glad it helped!
Negan, you can do a search on how to pay my tax bill. Go to the HMRC website link. The option to pay by cheque includes a slip you can print. You will need to enter all the information as it will be blank. You should get a statement at some point from HMRC, but this would come after the due date of 31 January.
What do I put on the employed bit if I am subcontractor under cis thanks
Hi Gary, if you are a subcontractor under CIS you are self employed, not employed. Therefore you do not need employment pages. I hope this helps :)
A video about a employed person with a property they rent out would be great especially as quite a lot of over 50s a now not selling their old house in favour of renting it out.
Hi Kevin, I will have a go!
Thank you so much for this video. This year for the first time I am doing my own tax instead of an accountant. I use my garage for storage, therefore a claim for that. Where on the online form do I put this. Many thanks.
Hi, It is the cost associated wire use that you are claiming for. If the claim is against employment income then it is a job expense. If against business income then it is part of business expenses.
Thanks for the video. Great help. Please could you advice me on the foreign income part. I did one job which was £1100 while still living in London and now am in Berlin. I am self employed in Berlin and have been transferring money to my UK account monthly as savings. Where do I include this in the self assessment?
Greg Hickman, thanks for your question. I’m not sure I’m going to be able to help here, but I will try. The transfer of funds is not something you put on your tax return. It is the income and expenses of the business you enter. If you are uk resident, you put all income on your return wherever it originates. You might then get double taxation relief if you have paid tax already in another country. If you are not uk resident, you just include your uk income on your uk tax return. As I say, by income, I mean the business income and expenses, not pure transfer of funds. I hope this helps.
Thank you.
No problem!
Great video one question please if you save and continue is it possible to undo it if you make a mistake? Thank you
Thanks! Yes, you can change what you have done until you press the submit button. If you find you have made an error after submitting, you would then have to submit an amended tax return.
Hi, thank you for the detail explanation, what about self-employment at a loss? Do I fill in a negative number in the TURNOVER box?
Hi, If your self employment makes a loss you enter total income in the turnover box and total expenses in the expenses box. The result will show a loss. You then have options for what you want to do with that loss. For example you could elect to set it off against other income or you might carry it forward to set off against future profits.
@@basicfinancials7654 Thank you so very much !!
Brilliant video, thanks for the help 😃 just a question maybe you would be able to help with. I started a mobile catering business in mid February (just before this lockdown, with about 5k turnover) but for most of the year (or 2 years) before that was self employed trimming gardens etc part-time (about £100 pee week) but hadn’t disclosed it and wasn’t as profitable. When doing the self assessment do you lump all the self employment together and deduct all costs or mention the two different forms of self employment. Also if the last month of the financial year had a much bigger turnover (5k) will they multiply that by 12 going forward and should I expect a huge tax bill next year, or would they work it out over the entire previous year’s return regardless? Sorry for the rambling, just so confused on this point lol
Hi, What should have happened is that you would have reglstered as self employed for the gardening from the date you started and shown those figures in one self employment. The catering business figures would then be shown in a separate self employment section from when that started. I assume you registered as self employed from February for the catering. So you shoukd enter the figures for that business on one self employment section. If you then do a separate self employment section for the gardening from April 2019, HMRC will question why you did not register before. It sounds as if the gardening has stopped. To keep things simple, I suggest that you do one self employment but add the gardening and catering for the whole year together, even though you will be saying your results vover the period from February to 5 April 2020. While not strictly correct, at least you will know you have declared all your income for the tax year. HMRC will use your profit as shown when calculating payments on account. They will not increase the profit to estimate a whole year compared with part of a year. From the figures you mention, you shoukd have no tax for 2019/20, but you might have a little claa 2 and class 4 NIC. I would not expect anything to be payable on account for 2020/21. I hope this helps :)
Thank you very much for your reply, truly appreciated. Do you think they would question why I haven’t either submitted a tax return or be showing some PAYE for the previous year? Given that my income from gardening was so small I foolishly didn’t realise it needed declaring being below the income tax threshold. Would you recommend I submit a 2018/19 tax return explaining this or would it do more harm than good? Thanks again
@@FutureIntervention It is possible that they will question, but probably will not!
Basic Financials ok, thank you for your help
Hi, first of all, thank you so much for making this video.
I am doing my first self-assessment tax return. for 2019/20. In my case, I was working most of the time as an employee a then did a random job as a self-employed where I earned £400 as a secretary for a week ( I know, less than 1000) however, I created the self-employed account to start this year to do freelance work in the graphic design area ( photography, prints, social media account managing).
I had a chat with the HRMC people and said to submit it for my records anyways by clicking "yes I earned more than 1000) so I've filled up most but I'm stuck in the part from 10:26 in. the video onwards. You mentioned in the video "if you are a subcontractor you don't need to fill in these" and click none apply. in my case, being a graphic designer, is there anything I should be ticking? (especially if on the 2019/20 ) the year my self employed job had nothing to do with design, it was a one-off job as a front of house secretary sort of. replacing someone else that fell ill, but they needed me to be self-employed.
I guess my question is: can your self-employed details change in regarding of what your business is. ( in my case 2019/20 was admin services i suppose) but this year's 2020/21 will be graphic design services.
and if it can change per year, then should I just tick the 'none apply' as well?
Hi, Tick the box to say none of those things apply. For 2019/20, you could tick the box at the start to say you had less than £1,000. But if you want to complete the self employment page as HMRC told you, just describe your business as secretarial, graphic design and other business support. Put £400 in income and the same in expenses for 2019/20. Next year, just carry on the same business. It will be fine in your circumstances.
Hi , Great video really helpful, When filling in turnover is that figure before or after any CIS deductions Thankyou
Hi Michael, Turnover should be before deductions. So if you received £800 after £200 CIS deduction, you should enter £1.000 in turnover. Remember to enter the £200 later on in the box for CIS tax deducted.
Thank you that's really helpful
brilliant
This is really helpful thank you! Does it still apply to this year (2021/22)?
Hi, thank you for the comment! Yes it still applies to this year.
@@basicfinancials7654 Thank you for your reply and taking the time. The best here so far. Merry christmas 🎄
@@naturalfreebird2851 Thank you! Same to you!
Really useful video thank you ! Wondering if you could advise on one thing. I’m a self employed handyman doing property maintenance. I like to keep on top of paperwork and can do everything you’ve shown very easily, I’m just stuck on one part. I bought my van in 2019 for £600
0, in which section do I show this ? Is it an AIA or capital allowance and how do I work the percentage ? I feel like it’s 18% of the 6k into the capital allowance box but is this correct ? Many thanks and keep up the good work.
HI Jonny, thank you for the message! The answer is it is both AIA and CA. You can choose. Probably AIA is the most appropriate in this case. You can claim the full £6,000 in the year you bought the van, or anything up to £6,000, and then 18% of what is left in the years afterwards (on a reducing balance basis). You should try and not waste personal allowance with your claim. For example, if your profits were £12,500, there would be no point in reducing your profits with a claim. It would be better to claim capital allowance at 18% later. I hope this makes sense :)
Basic Financials Thank you once again, that is really helpful !
So the full amount in AIA in the year of buying the van as well as 18% in CA or not the CA until the following year ? In which case 6k in AIA now, 18% off (4920) then claim 18% of the 4920 (885.60) in next years CA box ?
Confused myself ! Haha. Thanks.
@@jonnyking9291 Capital allowances claims can be a bit confusing. So if you buy a van for £6,000, in the tax year you buy the van you can claim Annual Investment Allowance (AIA). You can claim the full £6,000 in that year if you want to. If you do, you will have claimed all the relied due and there is nothing to claim in future years. You can claim part of the £6,000 if you prefer (so you still claim AIA, but not the full amount). Don't claim any writing down allowance (WDA) on the van in the same year, just claim all, or part of, the AIA. A reason you might claim part of the AIA rather than all of it might, for example, be so as not to waste other allowances. Your personal allowance for 2019/20 is £12,500. If your taxable profit before capital allowances was £15,000, you would probably not want to claim £6,000 AIA. If you claimed £2,500 AIA, you would have a written down value (WDV) of £3,500 on which to claim 18% WDA in the following tax year (£630). In the year after you would claim 18% on £2,870. Note that if tnere is private use of the van, you have to exclude that part from your claim. So if private use is 10%, in the year when the WDA is £630, while £630 is still the amount used to reduce what is left to claim on, you can only get 90% of that £630. The private use adjustment also apploes to AIA.
Basic Financials Thank you so much that makes perfect sense now and is just how I needed it explaining ! Definitely feel armed to tackle this myself now. Thanks again and keep up the good work. Jonny.
hello. When putting in my self assessment tax return to verify my identity i have to put the employee’s contributions due on all earnings above the pt that is stated on my p60. The only lines i have on my p60 are: total income received, MINUS personal allowance, TOTAL INCOME ON WHICH TAX IS DUE, pay pensions profit etc (basic rate x 20%), PLUS class 4 national insurance contributions, class 2 national insurance contributions, INCOME TAX DUE, MINUS tax deducted from CIS and trading income. which answer should i put to the question - employee’s contributions due on all earnings above the pt?TIA
Hi Daniel, I think you are looking at your tax calculation rather than your P60. Your P60 is the form your employer gives you once a year that shows a summary of your pay for the tax year. There is a box on that form which gives the figure being asked for. I hope this helps :)
Hi, for the first question in the income section under turnover do I put in the value before my tax was taken off from source or the amount that actually went in my bank?
Hi Ashely, put in the amount before the tax has been taken off.
Hi, Great tutorial thanks very much. I am opting for the simplified expenses as im WFH doing secretarial work whilst employed to start my business off. just finishing 2019/20 accounts off and managed to work out where to claim for my laptop % for the business/home but is that all can be claimed as allowable expense with simplified expenses. Or can my broadband, phone costs be included etc. Thanks
Hi Dawn,
Simplified expenses only applies to travel and/or use of home. Use of home simplified expenses involves claiming a flat rate based on hours used instead of the business use proportion of your home costs total. Your computer cost does not come into this. You can claim capital allowances on your computer in the year you buy it. This will be the full cost less tge private use element. Thus is Annual Investment Allowance (AIA). If you are using the cash basis rather than traditional, you claim as an expense. HMRC has some good guidance on its website. I hope this helps!
Thank you for the guide, basic salary simple so self assessment simple, how do i add 2 x rental incomes?
Thanks for your question Michelle. If you go to the early part of the process where you “tailor your return” to your circumstances, there is a question asking if you have any income from property. When you say yes to that question, you will then get the property income pages to complete. Add the figures for both properties together and fill the pages in. Good luck.
Hi there, do you have any advice for someone doing part time sales on amazon. I have a full time job and all that tax is automated via PAYE HMRC. All im wanting to do is manually pay my tax on my 'side hustle'
Hi Tetraluna, If your income from sales is more than £1,000 in the tax year, you should register as self employed and complete a tax return. If less, there is no tax to pay on the income.
@@basicfinancials7654 yeah I'm registed and ready to go. Just trying to make sure everything is okay before I file my report. I've used sellerboard though for my first year which apparently isn't that accurate
Hi Julius! Your videos are really really helpful!
However, I am a bit confused. When I log into my Business Tax Account using my Government Gateaway code, I then go to the Self Assessment part as you did but I do not have the option to fill complete a self assessment return? Could you please advise on this? I'd really appreciate it!
Hi Pauloba, I presume you are logging in to your personal tax account rather than a company account? If you are logging in to your personal tax account and you have registered to use the self assessment service and activated it, the only reason I cam think of is that you have said you started after 5 April 2020. In this case it won’t show that you have a return to complete until after 5 April 2021.
Hi, very useful video just have one question. I only work for one company but we’re all self employed subcontractors. Therefore I don’t have a business name or anything. Does that mean I put the name of the business I work for in the box where you’d put example ?
Hi Josh! Just put your name as the business name.
This seems pretty simple and straight forward but I can’t do it because whenever I try to claim mileage allowance, I don’t know which box to fill in
(Apologies I only just realised that I put the response in the comments rather than as a reply to you). If you are an employee claiming mileage allowance because your employer didn’t reimburse you, you claim via the employment pages. There is a box to tick when you are asked if you want to claim back employment expenses. If you are self employed you claim back in the same place as you enter your other expenses.
Thankyou for the video, it has been very helpful. I have one question regarding turnover, as a subcontractor do i enter my gross earnings before 20% CIS dedction or do I enter the net amount? Thankyou.
Very helpful, many thanks. I am confused as well in regards to the turnover. I am self employed, I am a ceiling fixer. Should I pun the gross income or net income as turover? If gross income, should I fill in anywhere the taxes I have paid? Many thanks in advance!
Abdul Rehman Sattar you need to enter the gross turnover. So if your income was £20,000 less £4,000 CIS tax taken away, you will enter £20,000.
Abdul Rehman Sattar you need to enter the gross amount. Remember to enter the tax deducted amount in the box further on as shown on the video.
Olesea Chesco you enter the gross turnover. There is a box later on to enter the tax deducted. This is on the video a bit further on.
Thanks
No problem!
I have a question. So I submitted my taxes. I began working late in the year and only worked two months. I paid £726 on tax. On my account it says I am do this back. However I put in I paid £250 in expenses, such as lunch, transport, work gear etc. But none of the expenses have been added on. It's been two weeks now and nothing has been updated. Does HMRC have to make a personal decision on this? Will it get added on to my account at a later date?
Hi Paul, HMRC will never repay your expenses, nor should they. But they will give you tax relief on those expenses. If you have incurred job related expenses, your best bet is to reclaim them from your employer (not HMRC). If you did get them back, there would then be no tax relief because you would not have incurred any expense. I hope this helps :)
thank you
No problem!
Hi. I recently became self-employed in June 2020 but was an employee before that. For my PAYE job I was put on furlough in June and I recieved universal credit since May but both have now ended. When I am writing my total income, do I include all of this money? For my PAYE job income amount, would that be before or after deductions?
Hi! There are separate sections in the tax return for employment, benefits and self employment.
Hello! thank you for this informative video , however I have one question. it is for the first time when I need to do it. Could you please tell me what I should write in "business name" section?
I would be very grateful, thank you in advance :)
Hi Doina, if your business does not have a name, then you can put your own name instead. I hope this helps :)
Basic Financials of course, thank you so much!
Please can you also show, If anyone under an umbrella or an employee and also works as a freelancer at the same time. How should we file. My accountant asks me to take P60 so he can file it for me. I would like to learn this on my own so I can post confidently as of now I am a little confused and hesitant to do on my own Will be helpful if you show how to file tax for an employee as PAYE or under the umbrella but also works as a freelancer at the same time. Also, HMRC sends the activation code I would like to know where does that code goes to file self-assessment besides this is a very helpful video thanks for taking us through this. We need more of this would be helpful if you post more videos on how to deal with all our accounts on our own.
Hi HT, If you are employed by an umbrella company or any other company, you need to say that you are employed in the first part where you tell HMRC about your circumstances. If you have or had more than one employment in the tax year then you give the number and name of each and this will then give you emplyment pages to fill in for each. The main information willcome from your P60 or P45 (leaver form). But you might also have benefits to include from a form P11D or employment expenses to claim. If you also have freelance income, this is self-employment and you will also need to say you are self-employed at the start. This will give you the self-employment pages to fill in.
Hi , thanks for the video am not self Employed but I am I’m working full time can I still apply this? Thanks
Hi Mozaltha, you can still do a tax return if you are not self employed 😊
Thanks for the quick response definitely am going to subscribe 👏👏👏👏
Does this still apply now that tax has gone digital? It's just that my screen doesn't look anything like yours.
Hi Toni, Income tax has not “gone digital” yet. Your tax return screen should be as in the video (apart from being black on white, rather than here white on black) if you are in the right place. Have you set up the self assessment service in your personal tax account?
In the section where it says put your business name, if I am a deliveroo rider would I put deliveroo or my name?
Hi Jordaine, you would put your own name in that section :)
Great video. So do you not have to show bank statements to prove income / expenses?
Hi Joe, you only have to show them if HMRC write to you to ask for them.
@@basicfinancials7654 thank you!
@@joeseviourx10 No worries, apologies for the delayed reply, your original comment slipped through the net.
I pay my tax as I earn it, so I don’t have to pay a lump sum at the end of year. But not sure where on the tax return I put this in. Where do I fill in the amount of tax I’ve payed?
Hi Ross, Assuming you are self employed and you are making voluntary payments on account to HMRC you don’t enter these payments at all. The tax calculation on the system won’t show these payments. After you have submitted the tax return and it has been processed, when you log in to your personal tax account you will see there what your balance is.
Hello I’ve followed this tutorial and my tax return has been pending for over 3 months now what can I do I contacted my local MP no one helps me
Hi Tam Official, I have never seen a pending message for a submitted tax return. Your MP won’t be able to help. Your best chance of sorting this out is to telephone HMRC or try their web chat. Be prepared to hold a while.
Great video thanks. I am a subcontractor who paid cis, so in the eyes of the HMRC does this count as having a business? Even though I've only worked for other companies that year. Thanks again
Hi Eddy, yes you are correct, it does count as you having your own business. I hope this helps 😊
Hi. Sorry to interfere, does this mean you can ask for any benefit for small business because of the Coronavirus? I have been home for 2 months and the scheme for self-employment says I am not eligible:(. Thank you in advance.
@@angyealful3056 You need to have been self employed in the tax year to 5 April 2019 to be eligible for the scheme.
Thank yoi for your reply!! Can I ask something else please? If I have been both employed and self employed during the 2019-2020 tax year, how does it affect the completion of this tax return? Where it asks in the beginning if you have been an employee? At the end where it says about tax from Payee? Not sure if I should try this on my own. Hmrc has all the income from employment anyway. Thank you very much in advance
Or maybe where it’s asking if your business has ceased during the year? Do I have to give dates for each time i was employed during the year? Thank you
When completing a self-assessment, if you where employed as well as being self-employed for a period, where would you declare what you earnt from employment?
AfflitionDriud, at the start, on the section where you tailor the return to your circumstances, there is a question asking if you were employed. When you say yes to this and enter the name of your employer, pages are added for you to complete.
@@basicfinancials7654 Amazing thank you!
How long does it take to get your tax refund mine says I have overpaid when I go on request a payment it says there is nothing available to me
Leon, I would give HMRC a call. They should be able to sort this out. It is something at their end preventing the refund process. It’s nothing to worry about. A refund usually takes about two weeks.
Once I login into HMRC I don't have the self-assessment section, have you come across any queries/issues as such ?
Hi, are you registered for self-assessment? If you are, you will have a unique taxpayer reference (UTR). I am assuming you do have one already. You need to register to USE the self assessment service. You will get an activation code in the post. I hope this helps 😊
I'm not self employed but I'm still asked to fill a tax return saying my record shows I'm self employed. I've only worked for an agency and have paid my tax though I earned less than 12500. Do I still have to fill this form. I have no other income accept the salary I received paid by my job agency. Please advice. Thanks Fatima
Hi Fatima, you should call HMRC and tell them the position. They will probably cancel the return. Don’t ignore it, do make that call.
Hello mate is it possible to get a UTR number without a National insurance number
(Apologies I only just realised that I put the response in the comments rather than as a reply to you). Hello Zak if you are required to get a National Insurance number then you must get that before your UTR. If you don’t need a National Insurance number you can apply for a UTR and let HMRC know on the form why you think you don’t need a National Insurance number.
What does "adjustments to tax due" mean on the Fill in your return section?
Hi Lj, in 30 years I have never known that box to be used. I am not entirely sure what it means, apologies.
Do I have to complete a self assessment tax return, If my dividends are just 200 USD and sold one ETF with capital gain of 300 GBP (held for 7 months)? Live in UK but I am not an UK resident. Thank you
Hi Martin, no you do not have to complete a self assessment tax return. They are both below the declarable amounts.
Hi my query is for self assessment if someone got employment income , dividend , saving interest and gift aid donAtion.how gift aid donation tax .please advice
Hi Manjit, I am not quite sure I understand the question. Could you please explain? Many thanks
One question pls
I have my car which I paid around 10080 until tax year has finish. But I have another 3000 to pay for this year. This car I use it for traveling to work and also sometimes between places of work.
Where shall I insert this amount ? (£10080)
If AIA, shall be full amount inserted?
If in % shall be only 18% (101gr/km) ? Then the remaining balance carried out following year? Can be claim under cash basis ? And if answer is yes, it is allowed to put all expenses relating my car: diesel. Road tax. Insurance ... at full cost or must be a certain amount ? 😖
Alin Al, there is quite a lot going on in that one question. Just to check, are you self-employed? If so, you have the right idea, but you need to look at the full cost of the car, take account of private use, make sure any claim does not waste allowances, take account of the private use on those other costs, along with other considerations. I recommend you seek and pay an accountant to help you make the best decision.
Can't get UTR number because it asks for northern Ireland driving licence, jobcentre assuming I must have made mistake and gone to wrong page. Webchat never loads. Calls hung up...I give up, can't deal with ineptitude.
I know just how you feel. It can be like that with HMRC, but try to stick with it, you are close. When you are in a patient mood, start again on the HMRC website and go slowly and carefully.
Thanks for the video ,only question I have is...I’ve completed my tax return Nd I’m due £**** back but it says repayment pending
Any idea how long that will take? It’s been 4 days now
Hi George, the repayment can take up to 2 weeks to be paid to you. I hope this helps 😊
Basic Financials thank you mate great help
I have tax code of 2877L. Could you please let me know if that means 49500 of my salary - 12500 of tax free - 28779 tax code and only left over 8221 pounds is taxable @20%?
Hi, The 28779 is the amount taxed at 0%. You them have 37500 taxed at 20% and over that at 40%. I guess you pay into a personal pension scheme which is probably why you have a larger than usual tax code.
Hi, it wont let me verify my self on digidentity to get on to do my selfnl assesment random a little worried on what to do as the deadlines coming soon
Hi Rhys, You should contact the HMRC online technical support about this.
Okay thanks bud, appreciate the help
Hi thank you for the video .. I have worked in a contractual role with company. I am a mystery shopper As well. Shall I have to write that I have to business. In both case I am working for someone else..
thanks
Looking for reply
Hi! Assuming that you are not employed in relation to these two sources of income, then yes, you have two self employment businesses.
Hi , I have an accountant and every year he file my tax return , now I want to do myself , I have got my gateway ID but when I login to file my tax return it says , you have used a different account previously, that’s why I can’t do my tax return , so what is your suggestion plz and what shall I do to enable me to file my tax return. Thank you for your time.
Hi Shafiq, I don’t think that your accountant filing previously is the problem. I suggest you phone HMRC as it might be a problem on their end. I am sorry I cannot be more of a help.
@@basicfinancials7654
Thanks a lot for ur suggestion…
Does a self employed person only fill out a tax return if they have earned above the personal allowance amount?
Hi Sanji, A self-employed person should always register as such with HMRC. There is also class 2 and class 4 NIC to consider which kicks in before the personal allowance amount. You might still have nothing to pay, but let HMRC tell you that. One exception to this is if your self employment income (not profit) is less than £1,000.
Hello. Thanks for this, such a useful video and I have managed to complete my self assessment. Just a little confused as I thought you could earn £1000 tax free on your second income and my calculation has taxed me at 20% of the whole amount . Not sure if I have misunderstood? Any guidance would be appreciated as struggling to get through to HMRC to query this. Thankyou
Hi! If you have self-employment income, you can either use actual expenses to set off against the income to arrive at the taxable profit or instead, you can use a fixed deduction of £1,000. So it is effectively the first £1,000 of income that is tax free and not the first £1,000 of profit. You can choose not to use the fixed deduction and to use actual expenses instead. So if you still think your calculation is wrong, check to see if you did that but then entered no expenses. I hope this helps :)
Hi thanks for your help. I really appreciate it. I didn't add any expenses , just the actual income and I thought the first £1000 would automatically not get taxed however this didn't happen and the tax was calculated on all of my self employment income ( which was only £1700). Is there anyway I cam query this with HMRC?
Asfa Ahmad I would submit an amended tax return, which you can do by following the link in the front pages of the self assessment section of your personal tax account. Enter the £1,000 in the total expenses box so you have a £700 profit.
Thankyou for your help. I will do. I didn't realise you could amend once submitted but now know that I can. Thanks again for your valuable help and advice
@@asfaahmad5363 No problem, I am glad it helped :)
Alright I was self employed under cis and then tuck on the book as an employee in the same year do I put that on my tax return?
Hi Gary, Yes, the employment income goes on the employment pages of the tax return.
@@basicfinancials7654 thanks
Hi, after I’ve put in my expenses, I get to the end and it shows the total tax amount payable to me, do they automatically add on the expenses after I’ve submitted my return?
I'm wondering that too
Hi Kieron, HMCR will not repay your expenses, but will give tax relief on your expenses which is included within the tax figure at the end. I hope this helps :)
Hi Paul, please see the reply above for the answer :)
I have done self employment job in uk from 2004 to 2016.And I submitted my tax return till 2014...Now what is the remedy for me to pay the tax return...guide me plz
Hi Sarmad, I think you should contact HMRC and ask them what they want you to do. If you are set up for online self assessment and you can see the outstanding tax returns, then go ahead and do them. But I’m guessing you can’t see this since you are asking me the question.
where on form do you pay national insurance???
Hi Sonia, if you are employed, national insurance (NI) doesn't show on your tax return at all. It is dealt with by the contributions agency. If you are self employed, the calculation will include class 2 NI (about £3 a weeK) and class 4 NI at 9% on a proportion of your earnings. It gets paid along with your tax, and you don't have to put it into the tax return. I hope this helps :)
Thank you so much for this! I have a question. I work online for a Chinese company part time and I will complete a self assessment for that income. I also work part time at a shop, do I need to file taxes for that as well or will my employer do? Many thanks
Hi Mary, When you do a tax return, you need to enter all sources if income. You complete an employment page for each employment and enter the figures for gross pay and tax from the P60 your current emplayer gives you (this employment) line or the P45 from a previous employer that you left during the tax year.
Hi i was wanting to know is the total business income..as a self employed plumber what i have earned for the tax year..total with or without 20% tax?
Hi, Your total business income is the total amount BEFORE taking off tax. I hope this helps :)
Thankyou
Am also having trouble with the tax deducted section..i have counted up all the tax at 20% that has been took from my gross pay for the year 2019/2020 by my contractor and filled it in on the section and it keep saying it is wrong and needs amended..i have counted it several times? Any idea what am doing wrong?
Same problem as susan on here aswell i think..
@@TimD350 The only thing I can suggest is to check in the section where you enter the total income and your total expenses (which then works out the total profit), that you have put in the correct gross income in the income box. I hope this helps :)
Is turn over the figure before tax ?
Hi Beth, Turnover includes tax. So if you got paid £80 in your bank after £20 tax deduction, turnover is £100.
I have 4 kids in Ghana and im european Citizen currently living in the uk i want to know if i can claim any benefits
Hi Mikey, I would advise you to ask Citizens Advice Bureaux. I’m sorry that I can’t help more with this, but I’m sure CAB will give you the best help.
Thank you very much for this video it makes tax return so easy and u saved me 150 pounds to pay accountant .
Don't give any greedy bastard £150 for doing 5 minutes work .
Hi, but confused to how it makes it out to be my business? I worked for a company and just wanna do my self assemenet for the work I did, makes it sound like I’m the owner of the company? Could u help okease
Hi, if you are employed by a company you should be completing the employment pages, not the self employment pages. At the start of the tax return there is a question asking if you are employed, say “yes “ to that. There is also a question asking if you are self employed, say “no” to that. Why are you completing a tax return?
@@basicfinancials7654 hey man. Thanks for getting back to me! I know I was self employed and a subcontractor(not sure if that helps lol) but all in wondering, is when filling the self assessment out it’s setup like it’s your own business.... I worked for 2 blokes under self employed, will I need to put their company name in rather than my company? (Which I don’t have) sorry if this is confusing
@@basicfinancials7654 and I’m doing a self assessment for a few months work i done for my 2 bosses, however im just unsure because like stated, the lay out and wording off everything makes it out to be your own business
@@basicfinancials7654 for example the first part (how many businesses did u have?)I Dident have any, but it’s under the self employed bit... sorry for all this
@@zbg7819 You do have your own business. You are in business as a self employed subcontractor, so therefore you have one business. Your income or sales or turnover is the income you got from your bosses plus any tax they took off. You show the tax taken off in a box later on. I hope this helps!!
Can I claim any money gone towards my health as a self employed
Hi, unfortunately you cannot claim money gone towards you your health
I worked ON and OFF as a taxi driver and subcontractor. Can you please help on providing the details if you can?
Has your business name, description, address or postcode changed in the last 12 months?
Please provide details of the change to your business:
Hi Dan, You could have two self employments and enter the details for each separately. If you prefer to do just one, you could say the business has changed from taxi driving to taxi driving and subcontractor. I hope this helps :)
@@basicfinancials7654
Hello, yes it helped a lot thanks so much:)
hi.. my first time to fill in a satr.. can i deduct 1000 tax relief property allowance to my rental income? thank you...
Hi, You can either deduct actual expenses or deduct the £1000 allowance as an expense.
@@basicfinancials7654 hello.. but my espense is lower than the actual 1000 allowance.. will it be possible to have it deducted from income? thank u
@@kapadyakkabikersuk9037 Yes, you should claim the £1000 expense allowance and ignore your actual expenses.
@@basicfinancials7654 thank u so much..
@@kapadyakkabikersuk9037 Im glad I could be of help :)
My accountant was the one doing mine... But now I want to do it myself... What do I do? Do I have to register as my agent was doing it and he refuses to give me the login... I have a UTR no and gateway detail... Please someone help me
You call HMRC AND TEL THEM THEY WILL TELL YOU EVERYTHING WITH ME WAS THE SAME THING
@@elizabethcenteno35 it's a long queue Liz... They are busy right now... I am kind of confused
Hi, y. I have recently released a step by step video how to do this: th-cam.com/video/nfDXkuv6kqM/w-d-xo.html. Look this up on google and make sure you get to the .gov website.. Hmrc will send you a code in the post to activate the service in your personal tax account. You will then be able to do your own tax return in there. Your accountant won’t give you the login details because they will have an agent account which shows all their clients in the one account
@@basicfinancials7654 you are awesome, thank you v much
@@ethio-fact4896 I am glad it helped!
Can you show us how to claim tax relief on your pension as a higher rate payer
Hi Caren, I will have a go at doing a video on it!
Hi again Caren, rather than doing another video, have a look at 7:26 into this video. You will see the section in tailoring your tax return to say yes to the question about pension contributions. When you tick 'yes' in this box, the tax return software will include a section asking you how much you paid into a personal pension scheme. The only way to claim the higher rate relief is to prepare a tax return. I hope this helps :)
You sound like Glenn Hoddle
so i have also to complete 19/20 ...should i folow the steps..or how can i get some help...pls
in the past i have problem with my agent...
elenna Dark you can follow the steps on the video as they are very similar for both tax years.
@@basicfinancials7654 how can i contact you
Hi Elenna, Please raise any questions or comments through the channel and I will do my best. If you feel your circumstances require more help, you probably need to think about employing an accountant
Hi i applyed ,i waited 72 hours and now i have the money in credit tell me please what i need to do next ?
Hi, if you ticked the box in the tax return to receive a repayment and entered your bank details, you should receive a refund within 2 weeks. If you did not tick this box, then ask for the credit to be refunded to you through your personal tax account. I hope this helps :)
@@basicfinancials7654 thank you for response .now can you tell me please if the money is in banking pending what this mean ?
@@madalinamihai2006 It probably means that the money is on its way to you.
Thank you for this video, it has been very informative. However, I have done everything you have, but when I come to putting in the subcontractors deductions which I have taken from the years CIS statements, it is telling me I need to amend the figure/needs to be recalculated?? Any ideas would be very much appreciated :)
Hi Susan, the most likely reason for this might be that the tax deducted figure is too high compared to the gross income you have shown. Check you haven't shown the net income. I hope this helps :)
@@basicfinancials7654 Thank you for getting back to me so quickly. Unfortunately, I have definitely put in the correct gross figure and even took 20% off that to make sure I had entered the correct deduction figure. Very frustrating lol. I think I'm going to have to call them for some help! Thank you anyway :)
@@suebarke2963 No worries, sorry I couldn't be of any more help.