Self Assessment tax return de-registering?

SnoopZ · 17-01-2015, 22:47

Having just filled in my first ever self assessment tax return due to going over the capital gains tax limit, will I now ALWAYS receive a SA tax return even though I am a PAYE tax payer?

If they will send for the next tax year is there a way to de-register and stop this?

**Hugh** · 17-01-2015, 23:04

You can't de-register - they will let you know if you have to do it again....

I have had to do it a couple of times, but after the last two years they informed me I no longer (until told again I have to) do self-assessment.

SnoopZ · 17-01-2015, 23:07

Damn, well I hope they don't send 1 just because I went over the CG tax limit once as it won't happen again.

arcimedes · 17-01-2015, 23:37

Quote:

Originally Posted by SnoopZ

Damn, well I hope they don't send 1 just because I went over the CG tax limit once as it won't happen again.

I expect they will send one for the next year just so you can prove didn't have a chargeable gain.

I am hoping I wont have to now they are about to abolish the age allowance.

**Paul** · 18-01-2015, 16:39

I have had to do them on and off for the last 12 years, they are very easy to fill in though.

Ignitionnet · 18-01-2015, 16:47

I keep getting them even though I am quite literally just entering the numbers from my P60 and sending it on its merry way.

It is what it is.

heero_yuy · 18-01-2015, 16:53

I do mine on-line but it's mainly as igni says putting in the P60 numbers and a small amount of interest I get on some money in the building society account. No sweat really.

SnoopZ · 18-01-2015, 17:07

The next 1 i do will just be entering a few things from the P60 and P11D too and private medical costs and a few £s of bank interest here and there.

1 thing that confused me is they seem to ignore any PENCE when entering online, for example i put down £1.98 for bank interest and it turned it into £1.00, also £19.20 tax refund turned into £19.00?!

heero_yuy · 18-01-2015, 17:21

Quote:

Originally Posted by SnoopZ

The next 1 i do will just be entering a few things from the P60 and P11D too and private medical costs and a few £s of bank interest here and there.

1 thing that confused me is they seem to ignore any PENCE when entering online, for example i put down £1.98 for bank interest and it turned it into £1.00, also £19.20 tax refund turned into £19.00?!

Same thing happens on VAT returns, the old paper system told you not to enter pence so I guess it's the same way on line. With big companies entering £millions the odd pence don't really matter.

vincerooney · 18-01-2015, 22:49

Aye once you're in self assessment you'll keep getting one each year. You can keep checking on the hmrc website if you don't need to do one for next year

https://www.gov.uk/check-if-you-need-a-tax-return/y

if you feel you dont need to then you can call the tax helpline, they'll go through your details and send a referral to close your self assessment record if they need to.

SnoopZ · 18-01-2015, 22:51

Thanks for the link, I won't need a self assessment next year as I only needed it as I went over the capital gains tax limit so had to declare it.

Osem · 18-01-2015, 22:54

Quote:

Originally Posted by SnoopZ

The next 1 i do will just be entering a few things from the P60 and P11D too and private medical costs and a few £s of bank interest here and there.

1 thing that confused me is they seem to ignore any PENCE when entering online, for example i put down £1.98 for bank interest and it turned it into £1.00, also £19.20 tax refund turned into £19.00?!

I believe all the SA tax forms advise you to round down to the nearest pound. It's HMRC's way of being kind...

vincerooney · 18-01-2015, 22:55

Quote:

Originally Posted by SnoopZ

Thanks for the link, I won't need a self assessment next year as I only needed it as I went over the capital gains tax limit so had to declare it.

what i'd advise you to do is call up around middle of april and they'll send the referral off nice and early and get you out of SA fairly painlessly

SnoopZ · 18-01-2015, 22:59

When do they normally tell people they need to fill in a SA, is it April?

vincerooney · 18-01-2015, 23:01

Quote:

Originally Posted by SnoopZ

When do they normally tell people they need to fill in a SA, is it April?

notice to file for 14-15 is usually sent out in stages from 6th april. You can cancel SA at any point in the year really but the earlier the better since the summer is always busy with people getting SA penalties and trying to sort their tax codes out after finally realising theyre on a wrong code...so earlier the better!