Filing my personal tax return

[bluedrop]

With the deadline fast approaching, I found myself some time today to file my tax return. I am stuck with the following questions. Can someone help me out please?

During the tax period, I was a permie for a few months before I started contracting.

1. During the tax period, should i consider myself an employee of 2 companies or as employee of 1 and director of 1?
2. Should I fill my info as employee of 1 company and then as self employed?

Confused! please help!

-Bluedrop

[bluedrop]

does your accountant do your personal tax returns for you? (without extra charges)

[Clare@InTouch]

You'll be an employee of two, assuming you had a PAYE scheme in place for your company.

You're not self employed, so ignore that section (unless you have a separate self employment?)

Don't forget to complete the Service Company question, if applicable.

[bluedrop]

Thanks Clare. yes I have a PAYE scheme in place.

Could you please explain this:

Don't forget to complete the Service Company question, if applicable.

I provide IT services through contracts. Will this be relevant to me?

[northernladuk]

does your accountant do your personal tax returns for you? (without extra charges)

Mine doesn't. She does my business accounts which is not the same as my personal ones so would not expect them to be under the same agreement. Costs me 100quid I think.

[TheFaQQer]

does your accountant do your personal tax returns for you? (without extra charges)

Mine does.

[Clare@InTouch]

Thanks Clare. yes I have a PAYE scheme in place.

Could you please explain this:

Don't forget to complete the Service Company question, if applicable.

I provide IT services through contracts. Will this be relevant to me?

If you're an individual providing your personal services through a limited company then you're a Service Company (loose definition), and there's an extra box on the tax return where you need to state the value of any wages plus your gross dividends (take the net dividend divide by 9 and x 10 to get the gross). It doesn't form part of the calculation, it's for information only.

Many accountants will include the cost of your tax return in their monthly fee, assuming you're paying monthly that is!

[bluedrop]

Mine does.

ARe you with Nixon Williams?

[bluedrop]

Clare, do I need to provide my dividend details on this return (dividend that I pay myself from my limited company) ? Please confirm...

[Clare@InTouch]

Clare, do I need to provide my dividend details on this return (dividend that I pay myself from my limited company) ? Please confirm...

Yes - there will be some tax payable too if you're into higher rates. You need to include:

Wages from all employments
Dividends from your company plus any others
Bank interest
Rental income
Capital gains
Donations made to charities
Payments made to your personal pension
Student loan (if applicable)

Plus any other income you've had.