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Spring Budget 8 March 2017

including Budgets
Lootman
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Re: Spring Budget 8 March 2017

#37886

Postby Lootman » March 10th, 2017, 2:24 pm

PinkDalek wrote:Nothing there forcing individuals (not in business) to update quarterly, yet. Merely about the "Personal Tax Account" of which you are familiar, given your posts on Taxes - Practical. It includes:

As the Personal Tax Account develops, customers will use it to tell us when things change. Over time, customers will no longer need to complete tax returns at the end of the year.

It's my understanding that the Personal Tax Account is voluntary. Therefore whilst individuals may choose to register for one and perhaps submit tax updates quarterly or semi-annually, there would be no requirement to do that.

Do please let me know if that is wrong because I am operating on the basis that I am not getting a PTA nor changing how I submit tax returns in any way. I submit them annually and in paper form. Old school.

PinkDalek
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Re: Spring Budget 8 March 2017

#37898

Postby PinkDalek » March 10th, 2017, 2:52 pm

Lootman wrote:
PinkDalek wrote:Nothing there forcing individuals (not in business) to update quarterly, yet. Merely about the "Personal Tax Account" of which you are familiar, given your posts on Taxes - Practical. It includes:

As the Personal Tax Account develops, customers will use it to tell us when things change. Over time, customers will no longer need to complete tax returns at the end of the year.

It's my understanding that the Personal Tax Account is voluntary. Therefore whilst individuals may choose to register for one and perhaps submit tax updates quarterly or semi-annually, there would be no requirement to do that.

Do please let me know if that is wrong because I am operating on the basis that I am not getting a PTA nor changing how I submit tax returns in any way. I submit them annually and in paper form. Old school.


Online Tax returns for individuals (and thus access to a PTA) remain voluntary but for how much longer who knows!

I'm holding out for as long as I can but my other half does hers online and the PTA is interesting, if nothing else. xFool and others have covered their experiences over at Taxes, such as here viewtopic.php?f=49&t=2867

The link above covers the stuff about MTD for businesses, landlords etc. but, from what you appear to be saying, perhaps your former landlording activities no longer exist.

I'm surprised there's no online submission fee, akin to the new probate fees ...

Lootman
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Re: Spring Budget 8 March 2017

#37901

Postby Lootman » March 10th, 2017, 3:04 pm

PinkDalek wrote:The link above covers the stuff about MTD for businesses, landlords etc. but, from what you appear to be saying, perhaps your former landlording activities no longer exist.

I'm surprised there's no online submission fee, akin to the new probate fees ...

Yes, I no longer have any rental income. 30 years as a landlord was enough. My wife does for a property in her sole name, but she has her own accountant and I never even see her tax return. Nor she mine.

Maybe the "submission fee" would be for a paper return, to entice taxpayers to go digital . . .


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