Myself and my wife run a small partnership business. We haven't finished doing our records for 2005-06 for our tax return and haven't yet got an accountant - are we leaving it ridiculously late? I hope to have the records done and the accountant contacted in the next few weeks!
Cheers!
2006-11-03 00:24:29 · 6 answers · asked by LJ2006 2 in Business & Finance ➔ Taxes ➔ United Kingdom
Yeah i know it has to be in by 30 Jan but just wondering how much notice an accountant will need to get it done...
Also how much do you reckon would be a fair amount to charge?
2006-11-03 00:31:21 · update #1
P.s. i am in the UK!
2006-11-03 00:31:57 · update #2
Accountant will charge based on the amount of work they have to do, but any good accountant should save you more money than they charge. You will certainly need one as you may be charged an amount which the tax office 'assumes' you would have made, this is usually well above what you actually make. Get one sorted.. NOW.
2006-11-03 00:59:04 · answer #1 · answered by mike-from-spain 6 · 0⤊ 0⤋
I always do my returns, haven't started them yet. Usually do them round about Christmas. Make sure that you're registered to submit them on line. If you lose or forget your password it takes about a week to get another. Accountants don't always meet deadlines but you'll have to pay the fine.
I don't think you're leaving it ridiculously late but your task might be easier in future years if you keep records as you go along. All my records are on a spreadsheet, which is backed up off site, and on bank statements in spreadsheet form. I could come up with the necessary figures in an hour or so.
2006-11-03 00:39:21 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Good luck, by being late you can be subject to penalyies for failure to file, failure to pay, late payment of estimated tax and interest on the tax and penalty that could be due. If you don't owe any tax with the return you are somewhat safe. However, if you do owe tax with the return the penalties and interest can amount to 50% of the tax due. So , if you owe $10,000 it will cast you $15,000 in tax interest and penalty.
Cheers.
2006-11-03 00:30:56 · answer #3 · answered by waggy_33 6 · 0⤊ 0⤋
40 years in the past us of a did not understand twin nationality. in the adventure that they do now, it really is a replace from previous coverage. if you're nonetheless a U.S. citizen you are able to stay in Arizona. in case you've old Age protection and Canada 401-k plan and they'll deliver your advantages by technique of mail.
2016-12-05 12:10:41 · answer #4 · answered by ? 4 · 0⤊ 0⤋
There are two cut off dates....30th sept and 30th jan. I did my own returns one year but it'd be better to get an accountant.
2006-11-03 00:28:56 · answer #5 · answered by heleneaustin 4 · 0⤊ 0⤋
Our accountancy website may be of help to you, we provide simple and immediate links to free lance accountants in all areas.
/www.link-o-rama.com/
hope it helps
2006-11-03 00:32:16 · answer #6 · answered by jonny Atlantis 2 · 0⤊ 0⤋