Reply to: SA software for BADR

[fabios]

There are no worksheets on the online form.

"Help in completing capital gains
Do you want to use the capital gains computation worksheet for any of your disposals?"

You are comparing two things that are different and wondering why they are different. This is why you need to pay for professional help.

What do you mean two different things? Both persons have very similar tax situation (MVL, single employment etc), nothing which could change a single box other than numbers which on both sides are withing thresholds.

It's not really a rocket science, if it was there wouldn't be official online platform to fill it in. My issue was limited to couple boxes which are now all sorted. The person I used SA for comparison used professional help and yet it's him having questionable asset type filled in.

[Lance]

Oh, right, you've left it too late for the current tax year, yes. Lesson learned, I guess.

it's possible to do after the deadline, submit an amendment, and pay interest. I don't recommend it as it's far simpler to get it right first time. But if poor planning overrides 'correct' it is available.

If doing that best to make the payment on time anyway.

[jamesbrown]

No, I don't. I thought that only online it can be done by end of January.

Oh, right, you've left it too late for the current tax year, yes. Lesson learned, I guess.

[Lance]

another option, that is free, is to ring the HMRC helpline. They will be very helpful when you get through.

[WTFH]

HMRC SA online submission form.

There are no worksheets on the online form.

My confusion comes from comparing my SA to someone else's with some slight differences.

You are comparing two things that are different and wondering why they are different. This is why you need to pay for professional help.

No, I don't. I thought that only online it can be done by end of January.

You're too late now to submit a paper return (31st October). You may well be too late to get an accountant to help you as they will be busy with their own customers.

[fabios]

What "worksheet" are you referring to?
Which "HMRC form" are you talking about?

HMRC SA online submission form.

Most of the worksheets provided on the GOV website are to help you with your calculations, they are not part of the self assessment form.

That was my suspicious.

This thread is getting very close to being closed. You need professional help.

Why? Tbf I'm closer to getting it done than requiring professional help. My confusion comes from comparing my SA to someone else's with some slight differences.

You know you can complete an SA100 manually and post it if you want, right?

No, I don't. I thought that only online it can be done by end of January.

[jamesbrown]

You know you can complete an SA100 manually and post it if you want, right?

[WTFH]

Do you know if I need to use information box if i used worksheet (part of HMRC form) to work out the tax? I don't see the worksheet being added to final file (pdf) so not sure if it's being stored internally or if it's just for tax calc purposes.

What "worksheet" are you referring to?
Which "HMRC form" are you talking about?

Most of the worksheets provided on the GOV website are to help you with your calculations, they are not part of the self assessment form.

This thread is getting very close to being closed. You need professional help.

[fabios]

I think the instructions are pretty clear - you must use the "Other property, assets and gains" option and then select BADR.

There's an information box where you can provide the details and dates of any disposals within the tax year (when I did an MVL, the disposal was done in two parts but all within the same tax year).

Do you know if I need to use information box if i used worksheet (part of HMRC form) to work out the tax? I don't see the worksheet being added to final file (pdf) so not sure if it's being stored internally or if it's just for tax calc purposes.

[Lance]

Feels like I'm getting closer to finding the answer. I've just got a copy of someone else's SA and box 36 is filled with BAD.

You're not really any closer then are you? That was the 1st reply to your post.

https://forums.contractoruk.com/acco...ml#post2961070

[TheCyclingProgrammer]

I think the instructions are pretty clear - you must use the "Other property, assets and gains" option and then select BADR.

There's an information box where you can provide the details and dates of any disposals within the tax year (when I did an MVL, the disposal was done in two parts but all within the same tax year).

[fabios]

Alternatively, try some of the 3rd party software and if it lets you submit, then look at exactly what it has submitted compared with exactly what you were filling out on the HMRC website.
That will then show you where you were going wrong.

Feels like I'm getting closer to finding the answer. I've just got a copy of someone else's SA and box 36 is filled with BAD. Then, the disposals are populated in Unisted shares and securities.
I've also used that section but there is no BAD option in section "If you are making any claims or elections, select the relevant code:".
When I've changed it to "Other property, asses and gains" I can then choose BAD.

The one I've got copy of is done by an accountant and submitted online.

Note under "type of asset":
Any gains or losses on disposals for which Business Asset Disposal Relief (previously Entrepreneurs' Relief) has been claimed, must be included in this section as 'Other property, assets and gains'.

Does it mean accountant did it incorrectly or it doesn't matter as long as code and tax is correct?

[WTFH]

That's very useful to know. I was expecting 3rd party software to be build more independently allowing for "manual adjustments".

The 3rd party software has to submit in a way that is acceptable to HMRC. If you want manual adjustments that don't follow the logic, then you'd need to submit a paper version and wait for them to come back and tell you what you did wrong.

Alternatively, try some of the 3rd party software and if it lets you submit, then look at exactly what it has submitted compared with exactly what you were filling out on the HMRC website.
That will then show you where you were going wrong.

[fabios]

You keep referring to the tax return forms as "the tool", but they are the actual forms. Any 3rd party software that fills out those forms for you is doing so based on the same set of rules.
The limitations of HMRC's tax return forms are best described as PEBKAC.

That's very useful to know. I was expecting 3rd party software to be build more independently allowing for "manual adjustments".

[WTFH]

If HMRC's website won't let you do what you want, then you'd need to go for a paper submission (too late to do it), or speak to someone who will go through your return with you and tell you which boxes to tick.
You're asking us what is wrong with the "tool", i.e. the HMRC website, and you're wanting to use software that is based on how the website works.
Without seeing exactly what you have filled out and exactly how you have done it, none of us will be able to tell you why you have not filled out the web pages correctly.

You keep referring to the tax return forms as "the tool", but they are the actual forms. Any 3rd party software that fills out those forms for you is doing so based on the same set of rules.
The limitations of HMRC's tax return forms are best described as PEBKAC.