New tax year

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Punch cartoon (1907); illustrates the unpopula...

Punch cartoon (1907); illustrates the unpopularity amongst Punch readers of a proposed 1907 income tax by the Labour Party in the United Kingdom. (Photo credit: Wikipedia)

Yesterday happened to be the beginning of a new tax year for those in the UK. Naturally that means the end of the 2014 to 2015 tax year (financial year) and the time for me to collate all my business account  figures to make ready my self-assessment tax return. It isn’t that difficult, in fact it has become easier for me now that I don’t submit a full tax return but what is termed a ‘short form’. That doesn’t mean I pay less tax, it simply means that my tax return form is less complicated because I have a limited turnover. It is still a little boring though having to collect all the information and submit it but I do it a little at a time and after a few days it is ready. I don’t submit the form immediately but give myself a little more time in order to check that my figures are correct. So today, Tuesday, is the first working day for me in the new tax year and already I have a couple of jobs scheduled. I remember this time last year when I had thoughts of making that year my last but as things were going so well I forgot the idea, in fact this past financial year has been my best for quite some time since I started self-employment. The last couple of years prior were not so good, not only because I did less but because I had been occupied working at home more often. I also had a few weeks off due to illness too. I just hadn’t the time to do as much electrical work as I have been able to do this last financial year. Having said that I still managed to fit in the refurbishment of our main bathroom and dig out that now infamous ‘mound’ in the garden! I have had that many offers of work I have had to turn down much of it. Maybe that’s why I am so tired! How long into this year I will continue to work I have no idea but if things go well I have an idea I might be doing the same thing next year as I am doing right now, filling out another tax return. I could be doing that on-line if the government’s plans go ahead (see below).

Shirley Anne

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