Tax Return

Discussion in 'Other Trades Talk' started by Ryluer, Mar 25, 2015.

  1. flateric

    flateric Well-Known Member

    This is true Phil. But on the other hand I have worked year after year for the missus same jobs day in day out :(
     
    TartanPaint likes this.
  2. Ryluer

    Ryluer Well-Known Member

    I do a tax return every year. Have done now for 17 years. I have an accountant who does the paper work. Or Online now as it is done.
    In the last 17 years only two contractors have given me the vouchers.

    It might well be against the law. But I don't give a *
    AT the end of the day I pay my taxes. And pay far too much.
    Thanks to the last labour government.

    Edited due to unsuitable language
     
    Last edited by a moderator: Mar 26, 2015
  3. flateric

    flateric Well-Known Member

    Surely the entertainment aspect alone was at least worth a little gratitude .
     
  4. Big Dunk

    Big Dunk Active Member

    So it's a contractor you are sub contracting to, who is deducting your tax under the CIS Scheme.
     
  5. Ryluer

    Ryluer Well-Known Member

    Have any of you even heard of CIS? (OK big dunk has)
    You must be all retired on here.
     
  6. Phil the Paver

    Phil the Paver Screwfix Select


    Hence why you need a GOOD accountant, not one that costs you a fine for failing to put in a tax return.
     
    flateric likes this.
  7. Phil the Paver

    Phil the Paver Screwfix Select

    yes, but under that scheme your tax is deducted at source, you are paid minus 20% for tax, of which you make a claim for a rebate at the end of the year.

    This is not what you asked in your 1st post.
     
  8. tom.plum

    tom.plum Screwfix Select

    also if the contractor has been paying you without you producing your NI and unique tax code (issued by the taxman) you've not been verifyed and therefore he has paid you unlawfully and liable for procecution,
    once again, don't drop the soap, :)
     
  9. Ryluer

    Ryluer Well-Known Member

    I wasn't aware I needed to produce my unique tax code every time I receive payment.
    I'll have a chat with my accountant in the morning and see if what you are saying is true.
    He has certainly never mentioned it in the past. Perhaps you know more than he does.
    I usually only get about three payments per year.
     
  10. Big Dunk

    Big Dunk Active Member

    Your contractor should be providing you with a payment remittance every time he pays you showing what tax he has deducted and also a monthly statement showing what he has deducted from you as he has to send these off regulary to HMRC. If he is not providing this how do you keep track of what you are owed. How Do you know if he's under paying you or not or actually deducting tax and paying the tax man or he maybe pocketing the deductions. When I sub contracted I was always on the phone if they hadn't provided a sub contractor certificate or a remittance within 2 weeks after month end, otherwise you can't keep track of what has or has not been paid and what you are or are not owed.
     
  11. Big Dunk

    Big Dunk Active Member

    your UTR number and NI number should also be on all paperwork
     
  12. Ryluer

    Ryluer Well-Known Member

    I'm underpaid every year. He owes me about £30k. Though I reckon I'll never see it. He says times are hard.
    If I can get the gross payment vouchers for now that's all I need.
    Anything else is a waste of time. As for paperwork my accoutant takes care of that.

    I might get it back through purchasing building supplies in his name . And he can still claim the VAT back.
    And I'll avoid paying income tax on it.
    Now there's an idea.:)
    Every time I purchase £1000 pounds worth of building supplies he gets £200 back and I knock £800 quid off his bill.
    Sounds like a nice little earner.

    What do you think?

    Well tbh I have been doing that. :D
     
    Last edited: Mar 25, 2015
  13. Big Dunk

    Big Dunk Active Member

    Unless you get the Certs off him you will end up paying tax on it twice as you don't have any evidence for your accountant to claim against. I'm sorry to say you are stupid for leaving it so long and not chasing it immediately. You need a paper trail for your accounts.
    I once chased a pound for three months until they got fed up, they couldn't understand why I was chasing a pound. Why?I hear you ask........ Because it was my pound and they owed it. I made them pay it into the bank as well so there was a paper trail and so my accounts tallied up.
     
  14. Ryluer

    Ryluer Well-Known Member

    I've never paid tax twice in 17 years. So I think you are wrong. Either that or you know more than my accountant.
    Which I doubt.

    Tbh I'm not too bothered about the £30k. Because at the end of the day its a big loss to the tax revenue sharks.

    You are a right tight git chasing after one pound in order to leave a paper trail. I'm the opposite. I burn most of my paperwork.
    Paper trails are only beneficial to one group. The income tax sharks.

    But then I'm not actually self employed even though I do a tax return every year.
    On paper I'm self employed. In reality I'm not.
    I guess there must be another name for my status.. like "rogue trader".
    LoL.
     
    Last edited: Mar 26, 2015
  15. Phil the Paver

    Phil the Paver Screwfix Select

    flateric and plumber-boy like this.
  16. Big Dunk

    Big Dunk Active Member

    If you don't have the certificates or vouchers or whatever you call them then you can't prove that you have had tax deducted at source relating to your UTR number . The tax man will look at your gross income less any expenses/running costs and tax you on the remainder. You then use the vouchers/certificates to further reduce what you owe in tax as this is what you've already paid.
    So as an example I'll keep it simple if you invoice for say £1000 your contractor will pay you £800 and then you will use the certificate to prove your contractor has paid the £200 to the HMRC.
    If you don't have these then HMRC will assume you have been paid £800 gross and tax you £160. So in effect you have paid £360 in tax on a £1000 invoice instead of £200 hence paying twice. If you haven't got the paper work you can't prove anything unless your on the fiddle then it's only a matter of time until you get investigated. And if you're not bothered about £30,000 you've lost why are you bothered about getting the Certs off him.
     
  17. Big Dunk

    Big Dunk Active Member

    Oh and yes I am a tight git. At the end of the day they owed the money whether or not it was £1 or £1000 there's no difference if they do that to 20 people per invoice that mounts up to a lot of money over a year. Obviously you can afford to ripped off.
     
  18. Ryluer

    Ryluer Well-Known Member

    Have it all cleared up today. Employers accountant sent the relevant info to my accountant. Happy days.
    Now I'm in line for a pay out.
    Btw I never write invoices. You'd have to be fully self employed to do that.
    Which I'm not.
    Like I said I only have one employer who gives me work.

    You must be Scottish.
     
  19. joinerjohn1

    joinerjohn1 Screwfix Select

    Come on man, your either self employed, unemployed, ill or paye. I can't think of anything else.
    So your somewhat part self employed (in a sort of fairy tale like sort of a way ? ,,,,, Can't see this ending in happy ever after though,,, not once the taxman gets his claws into you)
     
  20. Ryluer

    Ryluer Well-Known Member

    I was investigated a few years ago. When I changed employers in 2006 a month elapsed for some reason for which the IR couldn't account for. That's all. No big deal.

    No one any comment on my method of getting the £30k back then?
    I think its brilliant. For every £1000 quid of builders materials I buy for my home ( which my employer picks up the tab for) I receive the equivalent of £800 and my employer claims the £200 quid VAT back as part of his business.
    And I get the materials at knockdown trade price.
    Well I think its brilliant and tax man is about £4k poorer.

    How come none of you are clever enough to think up a deal like that?
    But instead think you are clever by chasing down a customer for a paltry £1.
     
    Last edited: Mar 26, 2015

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