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Online filing - IR incentives

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    Online filing - IR incentives

    starts 2004/05 tax year and you get £250 tax free in first year - yipee

    one of my friends accountants (no names) are charging an admin fee for this, but many are doing it for free.

    It should be free ...like IR35 calculations !!

    #2
    Online filing - Scam

    I have heard that some people are going to employ a cleaner this year and next, one week in 2004/05 and one week in 2005/06 pay them £45 each week and then file all payroll returns on-line and earn £500. Making a profit of £410 and the house being cleaned at least twice!

    Of course you would not put them through your Limited company because you would lose the company’s entitlement to the £500!

    What are the odds for the on-line system crashing this year and everything will have to be filed by paper, saving Mr Brown a fortune!

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      #3
      Filing fee

      Quite correct Brewster, should be free!

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        #4
        Re: Filing fee

        My freaking accountant wants to charge me something like £125 + vat, he is having a laugh, it looks pretty straight forward to me, now what was my name again ...... lol

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          #5
          rip off

          thats like an increase in fees imo!!

          who are the accountants?

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            #6
            Re: rip off

            The firm is SJD, it looks like a straight forward 5 mins piece of work, but £125 VAT seems incredibly steep, well to me anyway.

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              #7
              Re: rip off

              Seems like you need to go in and discuss this face to face with them to me. May as well get some benefit from the 60% extra charges for that.

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                #8
                HAHAHAHA

                :rollin :rollin :rollin :rollin :rollin :rollin

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                  #9
                  Re: HAHAHAHA

                  Mr. IR may have an influence when it comes to charging for the completion of personal tax returns. Hector has an estimate of how much time it takes to complete the return and may get a bit shirty if some of the cost is being hidden away in the company's accountacy fee.

                  £125 may be chosen to avoid more than Hector's nose getting involved.

                  By the way, you may be confusing personal with company P60 etc returns. No incentive for personal returns, only the company receives the enticement.

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                    #10
                    Re: HAHAHAHA

                    Mr. IR may have an influence when it comes to charging for the completion of personal tax returns. Hector has an estimate of how much time it takes to complete the return and may get a bit shirty if some of the cost is being hidden away in the company's accountacy fee.
                    Orange - the incentives paid over five years are for online filing of the annual P14 and P35 returns, nothing to do with personal self-assessment returns. Most individuals will rely on an accountant to do these online returns on behalf of their limited company.

                    I think the Revenue meant this to be an incentive for companies with multiple employees but one man contractor companies should be able to jump on the bandwagon. I believe there is a little confusion with this payout as people seem to think that the payments apply to individuals, whereas they apply to the company as a whole . IT companies would come under the banner of a small company with fewer than 50 employees.

                    I would be very surprised if any IT contractor specialist accountant charges for performing these online returns.

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