Late Tax Returns

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T.C.
T.C. Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙‍♂️
How well are you doing? I have just one Tax Return to do before the deadline - paperwork coming in today.
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  • burg
    burg Registered, Moderator Posts: 1,441 mod
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    More busy than I would like

    Waiting on signatures 10
    Ready to finalise and send 2
    Ready to start 6
    Waiting on info from client 6

    On the plus side in the last week I have filed 19 returns.

    I've also got 3 VAT returns to file

    Plus my wife had our latest addition by caesarean 2 weeks ago so I'm tired to go with it.
    Regards,

    Burg
  • anniem
    anniem Registered Posts: 1,326 Beyond epic contributor 🧙‍♂️
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    burg wrote: »
    More busy than I would like

    Waiting on signatures 10
    Ready to finalise and send 2
    Ready to start 6
    Waiting on info from client 6

    On the plus side in the last week I have filed 19 returns.

    I've also got 3 VAT returns to file

    Plus my wife had our latest addition by caesarean 2 weeks ago so I'm tired to go with it.

    OMG - you sound tooooooo busy Ian!
    FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire
  • burg
    burg Registered, Moderator Posts: 1,441 mod
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    A lot of it was caused by moving house which needed some extension and conversion work done. Part of that was my office so I spent 6 weeks or so working from the kitchen table which isn't great.

    All should be done in time though.
    Regards,

    Burg
  • anniem
    anniem Registered Posts: 1,326 Beyond epic contributor 🧙‍♂️
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    burg wrote: »
    A lot of it was caused by moving house which needed some extension and conversion work done. Part of that was my office so I spent 6 weeks or so working from the kitchen table which isn't great.

    All should be done in time though.

    Good luck!!!!
    FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire
  • burg
    burg Registered, Moderator Posts: 1,441 mod
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    Thanks
    Regards,

    Burg
  • JodieR
    JodieR Registered Posts: 1,002 Beyond epic contributor 🧙‍♂️
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    Personal tax:
    2 awaiting collection
    4 to be finished (5 including mine!)
    7 awaiting further info from client
    3 haven't received anything yet


    Vat - 5 returns to finish

    Ltd Co's - 3 to finish, 2 are nearly finished and the other I have nothing for yet.

    Much better position than this time last year!!
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    I don't know, I'm about to work it out now.

    My business partner has left, so I've a mountain of work to get through that I'd not planned for 2 months ago!!

    I'm very, very tired.... Last January was a breeze, I think I have about 20 left to do this year...
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    Monsoon wrote: »
    I don't know, I'm about to work it out now.

    26 returns to file
    6 just waiting for signature
    7 need accounts producing first
    7 I'm waiting for more info from client

    the rest are just basic returns (directors etc)


    argh......
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    Blimey I feel bad now

    43 to submit, most are done but about half have bits of information missing which once in will complete.

    All have accounts done and limited companies all done too. About 5 VAT returns left

    We've had a really large number of clients not giving us the info yet despite 5 chasing letters/emails!
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    I'm on the sofa with my laptop, CSI, and a remote connection to my office PC.....

    Note to self: do directors tax returns FIRST in April, not last in January, amongst other things!!

    BW I don't envy you, I hate it when things are mostly done but you're just waiting for one little bit and you're waiting for the client and they take their time. I have a feeling I will have a few like that at the end of next week and I'll be doing the same next weekend...
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
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    10 tax returns to do..
    3 VAT returns to do..
    All LTD's done..

    Spent all day fixing IT issues. Grrrrr.. but now I can scan (and shred) at 80 pages per minute.. nice.
  • JodieR
    JodieR Registered Posts: 1,002 Beyond epic contributor 🧙‍♂️
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    10 tax returns to do..
    but now I can scan (and shred) at 80 pages per minute..

    That's my mission for Feb! I've bought a beast of a scanner from ebay... it's gonna be awesome if it works!
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    I need a decent scanner. Mine is a flatbed with no feeder and I think you have to crank the handle to get it to work...
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
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    I have put my old scanner on eBay (item number 120674989932) if anyone is interested.

    It's a great scanner but only does 25 pages per minute so I needed something a bit more industrial.

    Takes up very little room though, unlike my new one for which I have had to build an extension to my desk just to fit it on!
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    I might be interested, need to have a bit of a think first though.
    Out of interest are you VAT registered?
  • Emrhino
    Emrhino Registered Posts: 39 Regular contributor ⭐
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    Late fees?

    Just out of interest - does anyone charge a premium on top of usual tax return fees if paperwork arrives late?

    I am still waiting for a new client to bring me his paperwork (been chasing since end of November) and have told him from the start I reserve the right to charge a premium if necessary but now I'm not sure whether to!

    If it's more than £100 surely he would rather just send it late? LOL.

    I have been really organised this year and got everyone else to stick to their schedules meaning I only have 1 other return awaiting signature now.

    But because this guy is new to me it is probably going to take me a lot longer than normal and I might end up working the weekend (which is also my 4 year old's birthday party weekend!!).

    Don't want him to think he can do it every year!
  • jow774
    jow774 Registered Posts: 465 Dedicated contributor 🦉
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    If its late he still has to pay the £100 and get someone to do his tax return and probably pay interest too! I asked my chartered accountant about charges and he said if it comes in after second week of January they charge standard rate plus a 50% premium, that makes his charges about £405 plus VAT. So dont sell yourself short!

    If you do it cheap without a premium this year he will be back next year and still leaving it till last minute and still expecting the cheap rate and will probably have told his mates and they will expect the same!!!! So on your head be it, lol.
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    In my "bring your books in" letters I always say we reserve the right to charge a premium for books brought in late - 20% surcharge for Oct/Nov and 50% surcharge for Dec/Jan.

    To date I've never charged anyone this, but if I was really stuck for time and getting it done would mean working very late nights, I would definitely charge it. I'm also too soft.

    A HMRC £100 penalty may be cheaper - but it extends the enquiry window and puts your head above the parapet with them, so it's better to get the return in on time.
  • Emrhino
    Emrhino Registered Posts: 39 Regular contributor ⭐
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    Very interesting!

    Yes, I am going to charge. Have definitely been too soft in the past and it certainly increases stress levels knowing you only have a few days to do things in!

    And I know from experience that word spreads if people think they can bring things last minute.

    Thank you very much for your comments!
  • T.C.
    T.C. Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙‍♂️
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    I tend to know who are going to be the late people, so I charge them accordingly anyway.
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
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    3 tax returns to go, none have them have given me their records yet so I guess I'm twiddling thumbs now!

    (P.S. scanner now sold).
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    (P.S. scanner now sold).

    Grr, forgot all about it.

    I have 6 to go and I have all the info so I should be all done by the end of tomorrow. Here's hoping!
  • burg
    burg Registered, Moderator Posts: 1,441 mod
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    Made good progress.

    I still am awaiting 12 to be signed.

    Got a meeting with 3 of them today plus another dropping off his four later on.

    Just got the 1 I'm waiting on for more info but at the moment he informs me his priority is repairing his car that got broken into?!
    Regards,

    Burg
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    burg wrote: »
    Just got the 1 I'm waiting on for more info but at the moment he informs me his priority is repairing his car that got broken into?!
    hahaha.... well, if that's his priority and wants to pay a £100 fine, that's his choice! There is only so much we can do for people!

    I've had 4 back and signed today.... current job is annoying me and taking ages (for no good reason, mental block) which is holding up the other 5 which should be pretty straightforward. Hence me procrastinating and posting on here.....!!
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    24 still to go :-( mixture of waiting for signatures to missing info to no info at all!
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    24?! Gosh...... that's..... err, a lot!

    Good luck and remember, there's noly so much we can do, if they are late, that's their fault and we can't be expected to bend over backwards for them, certainly not this late in the month...
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    24 with 2 of us isn't really a problem, we're working tomorrow and then we still have Monday.

    I don't bust a gut for those late comers but if I can get them done I will. I am seriously going to push the boss to charge a premium for books brought in in January.

    The ones who don't bring in the information will just not get them done and I won't lose sleep over it - they've all had letters, emails and phone calls!
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    I've finished!!!!!!!!!!!!! :D

    How are you all getting on?
  • jilt
    jilt Registered Posts: 2,903 Beyond epic contributor 🧙‍♂️
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    Yep, filed last tax return yesterday. Just got two vat returns to do.

    You feeling better today?
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    Woohoo!

    Yeah not so bad thanks. I don't think this cold is going to get me too much, just a tickly throat and a bit of a cough.

    I'm sitting here doing admin - it's bliss! :)
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