Virgin Online Self assessment submission person..

[da_vide78]

Hi everyone..

This is my first post but have been scouring this website for a while now, so to introduce me, i'm a new contractor with a LTD company, started up at the beginning of FY 07/08 to avoid the usual spanking folks get from the tax man every month. My first year of contracting has been fun and a learning curve! I have a company who do my accounts but sadly want to charge me a small fortune to do a SA tax return.

At this point i thought i'd rather save the money if i can do it myself....However....This is the real reason for my post..

I'm stuck.

I've entered all the information required in the online form and at the end where it gives you a calcuation based on your input, it's saying in need to pay £33k in tax! This HAS to be wrong...

I pay myself a small wage every month and then dividend every quarter so i thought i'd pay 20% tax on my dividends - which £33k ISNT! my overall sales for the year was about £52k...

Can anyone tell from my description what mistake(s) i've made or point me in the right direction?

Many thanks for any help!

[Alan @ BroomeAffinity]

You'll need to post up more info than that although it sounds like you might have made an error or two on the data entry. Go back through the entries and see if you get the same answer.

A bit cheeky of your accountant to charge you for yuor tax return. Don't yuo have a fixed price agreement with them?