Self Assessment and minor estimation

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meanttobeworking replied

31 January 2011, 16:28
Thanks IR35 Avoider - it's a ridiculous thing to have to ask
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IR35 Avoider replied

31 January 2011, 16:04
Originally posted by meanttobeworking View Post

On a similar theme, I've got a dormant savings account which had some money in it very briefly, earning me the princely sum of £0.15 The SA online application doesn't let me enter this as a figure, so do I round it up or say I didn't receive any untaxed intererst? I don't care about paying/not paying the tax, I just don't want to have a discrepency show up...

I think all taxable amounts get rounded down (and deductible amounts rounded up) so you owe nothing, according to the rules.
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meanttobeworking replied

31 January 2011, 09:16
On a similar theme, I've got a dormant savings account which had some money in it very briefly, earning me the princely sum of £0.15 The SA online application doesn't let me enter this as a figure, so do I round it up or say I didn't receive any untaxed intererst? I don't care about paying/not paying the tax, I just don't want to have a discrepency show up...
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stek replied

30 January 2011, 23:43
Ha! Another last-minuter like me!

For some reason my HMRC account says I've already enrolled for SA online (which I have) but it's not in my list of services. Call to HRMC tmrw and even more last minuting....
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RichardCranium replied

30 January 2011, 21:43
Originally posted by dezze View Post

I can't find a Tax Voucher from a policy I have. It was only about £20 for the whole year, but don't know the exact figure.

I am not an accountant. But I do know that when a bean-counter finds a tiny discrepancy, they assume you are either an outrageous liar or unreliably incompetent and they then distrust everything.

I'd go for £20 and "it's an estimate and is between £20 and £30", given the time available.

I suspect the civil servant that looks at it will go "whatever - I can't be arsed quibbling over that" and just accept your estimate.
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dezze started a topic Self Assessment and minor estimation

30 January 2011, 21:31
Self Assessment and minor estimation

Hi,

I'm just about to finalise my Self Assessment, but have held off as I can't fiind a Tax Voucher (stupid I know) I had from a policy I have. It was only about £20 for the whole year, but don't know the exact figure.

Do I declare extra (e.g £30) and fill in the part of the form that informs of the reason for the estimation? There is nothing else contentious on the SA. Not sure if it's worth doing this for such a small amount (i.e. still declare £30 but don't mention it is an estimate?)

Dezze,
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