Wednesday, 23 January 2013

Tax Return Terror

If you are or have been self-employed and are somewhat disorganised like myself, you too may have experienced the terror of the looming tax return at this time of year.   On-line self assessment returns must be submitted by 31st January or you can face a £100 penalty, so once the Christmas and New Year festivities are over, it tends to loiter in the back of one's mind, nagging you and tugging at you until you finally sit down and start working on it.

I myself don't have a particularly complicated tax return to submit, and only started my current enterprise earlier this year, so there is not really much of a tax return to file, but still, it has to be done and yesterday, with only 10 days to go, (quite good for me but I wouldn't recommend it to anyone), I actually sat down and started work on it.  As always it feels great to make a start even if I haven't yet finished.

What I have managed to do, however, is to completely re-organise all the accounts and paperwork for my business into some sort of order, which should make next year's return, which will be more complex, much easier.  I'm hoping to possibly even start on it some time soon and not leave it to the last minute.  We'll see what happens.

Anyway,  I spent the whole day on it, on and off, with papers covering the kitchen table and the printer working ten to the dozen to print off a written record of invoices and payments received.  If you are doing the same at the moment..........GOOD LUCK! 

To help me along, I've given myself a treat part way through, a Turkish Delight Chocolate Bar, and I'm promising myself a further treat when I have eventually finished and can get back out into the real world.  Maybe a trip to one or two of my favourite charity shops might be nice, with perhaps £5 to spend on whatever I like. (It's all I can afford at the moment!)  Doesn't sound like much of a treat but I haven't done it in such a while that I really am looking forward to it.

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