October tax return clinics
The paper tax return deadline is 31st October. If you file a paper tax return after this date, you will get a £100 penalty. Unlike in previous years, this penalty cannot be reduced to zero even if you don’t owe any tax. So it’s more important than ever to get your return in on time.
If you file online, the deadline is 31st January 2012, but if you want to file on paper, and you still need to do your tax return, time is running out.
Farrant Frost are holding paper tax return clinics at our Pewsey office throughout October. Call us on 01672 564 370 for more information or send us an email.
What is a tax return clinic?
Many people who need to complete a tax return have relatively simple affairs and want to do it themselves without the expense of an accountant. However this can leave questions and sometimes people want reassurance without having to wade through HMRC’s own guidance.
A tax return clinic is an opportunity for you to sit down with an accountant here in Pewsey and ask us any of those tax return questions that you’ve been wondering about. Or maybe you’ve got all your information but are a bit daunted by the paper form. We can help you fill it in. Or, we can just look over what you’ve done and put your mind at rest.
For £30 (including VAT) you can speak to one of our accountants for 20 minutes and ask us your tax return related questions. 
Normally, taxpayers in self assessment either have to pay the full fee to an accountant, or do it themselves, with no option in between. We want to bridge that gap for people. We aim to make accounts and tax as simple and painless as possible.
The tax clinic will help with self assessment tax returns that include income from interest, dividends, benefits, pensions, employment, self employment and rental income. Please see below for more details.
What if I’m filing online?
If you plan to file online, you can still take advantage of our tax return clinic to ask us your questions.
Great! When is it?
Tax Return clinics are available throughout October. Our drop-in sessions are Tuesday-Friday at 10am -12.30pm, during the middle two weeks of October: 11-14th and 18-21st. You don’t need to pre-book, just turn up. If these aren’t convenient, you can always book an appointment. If you want an early evening slot, please just ask.
What’s this I hear about fresh coffee and cake?
If you come along to one of our drop-in sessions, we’ll have fair trade fresh coffee on the go, along with tea and biscuits. And mineral water. And possibly fresh fruit juice and/or cake. Lovely.
What do I need to bring?
Please bring with you summaries of all your income sources in the 2010-11 tax year (6th April 2010 – 5th April 2011). These will will typically include:
- Certificates of interest received (and tax deducted) from bank and building societies
- Dividend vouchers for dividends received from shares held
- Forms P60 or P45 from any employments or pensions
- Forms P11D or P9D (expenses and benefits from employment)
- A record of the amount of state pension or taxable state benefits received in the year
- Income and expenditure from rental property you have, including lodgers in your own home
- Income and expenditure from your simple self employment
- Records of pension payments made to private pensions (for higher rate taxpayers)
- Records of any gift aid payments made to charities in the year (for higher rate taxpayers)
- Records of any other income received in the year.
Please note that, amongst other things, Tax Credits and income from ISAs do not need to go on your tax return.
We will advise you how to show your income on the returns. If there are any basic tax-saving measures we spot that are not already included, we will suggest these to you. We can also assist with record keeping, should you wish.
What we will not do at the tax return clinic:
We pride ourselves on accuracy and attention to detail. Some taxation affairs require more in depth attention and we do not feel a 20 minute sit down is enough to provide the level of service and accuracy required for services including but not limited to:
- Capital gains computations
- Busy rental property portfolios
- Preparation of business accounts
- Detailed taxation advice
You will be asked to sign an Engagement Agreement – this is a condensed version of the Letter of Engagement which accountants issue to clients. It outlines our responsibilities and the nature of the tax return clinic engagement. Payment of £30 is to be made by cheque (payable to Farrant Frost) or cash on signing the Engagement Agreement, before your consultation takes place. A VAT receipt will of course be provided.
I’d rather not do my tax return at all, actually…
If you’d rather hand your whole tax return over to us, we’d be happy to help. Just give us a call on 01672 564 370 or send us an email and we’ll look after it all for you.
Image provided by Images_of_Money via Flickr
