Tax rebates

[Peter]

Anyone get a repayment from their self assessment yet? Just got a cheque through the door for £950. :hurray:

Tempted to spend it on tools but the wife's looking a holiday so we will have to see who wins. :lol:

 

[kilty55]

good on ya wingn!

 

[Stewart]

I never get rebates, only bills!

 

[kilty55]

me too please tell me how i get a 950 rebate

 

[Stewart]

me too please tell me how i get a 950 rebate

Rebates are over rated anyway.... Just means you've been paying too much tax in the first place! (;o)

 

[Peter]

Mainly from CIS work.

If you've paid xxxx tax on CIS work (tax paid at source) and then you've had xxxx expenses (diesel/tools/van/phone/office/advertising etc) then it's offset and more likely than not you will have paid too much tax.

 

[kilty55]

so no real gain then....thats that plan scuppered lol

 

[Peter]

You don't really miss it, if anything you're better off than the other way round.

Ie, you do a job for £1000, either you get £800 now and know you'll get most of the other £200 back in a few months, or else you get £1000 in your hand, and either have to keep some money aside for your tax bill or else try and find it in January/July. I got a bill last year and it crippled me making repayments, whereas this year I didn't miss any money at all and now have, in effect, holiday pay.

 

[hillhead]

When you take the wife on hols wingn watch it doesn't do what that plane did in belfast yesterday.! Lol.Good on ya getting the dish, Iv done a lot of cis work lately.My books get done at end of tax year.

 

[doug boardley]

£1600 over payment of tax,,,,outstanding bill of £900 and accountants bill of £450,,,might treat myself to a cd or a pint with the change:lol:

 

[widler]

rebate =£2350,accountant bill= £450,van blew up,new van =£2000,loss =£100:drool5:

 

[On one]

As my tax affairs aren't that complicated i ended up getting a rebate of £355 in July only to be knocked back on Mon 30/1/12 by a letter from the HMRC of a section 9 investigation.Turns out the accountant ticked the class 4 NIC exemption box:mad2:

 

[Stef]

I still havent had my paper work in for my tax yet, it better be soon.

I got £1830 last year so i will be looking for more this year as ive paid a lot more tax.