Tax Doesn't Have to be Taxing
Here goes. My first entry.
Tax Doesn't have to be Taxing - oh yes it does!
In my many years of employment, and self employment, I think I have learned a thing or two about tax. And the 31st January still fills me with dread - this is the last day you can submit your self assessment tax return, without incurring a £100 fine!
The UK tax system is the most complex in the world, well maybe second only to India. And I think GB had some hand in that system many years ago. I will have a rant about tax in the near future, but for now, I am too busy doing my tax return.
If you too are dreading the deadline, then I recommend you use software (about £20 cost) to do the job. You still have to know what numbers to punch in which holes, but most software comes with a good help guide / wizard.
This year I am going to use the Revenue & Customs online submission system to avoid the deliver by hand method at 23:58 hours on 31st January. If you are thinking of doing the same, you must register at http://www.hmrc.gov.uk by 24th January to allow them time to send you an activation PIN, enabling you to use the service. This is sent to you, would you believe it, by first class post.
The online tax return is great – no problems with that at all. If you’ve got to sort out lots of stuff from self employment, then it’s often better to get an accountant, who can be creative if necessary – can save more than it costs.
The UK Tax system is relatively simple. If you want a giggle, check out Germany. Something like 10% of all literature on taxation worldwide is written about the German system…
18 Jan 2007, 22:40
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