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Author Topic: UK Tax Return Issues  (Read 2113 times)

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« on: October 13, 2015, 07:17 »
0
In previous years I have used the online CT600 form to file a corporation tax return and Companies House accounts simulataneously.

However I have just found on the HMRC website that the online filing service cannot now be used to report transactions and income from outside the UK. Presumably most stock sites fall into this category.

What is the most appropriate way of filing tax returns that include stock royalties (while trading as a Ltd co)?


ShadySue

  • There is a crack in everything
« Reply #1 on: October 13, 2015, 07:27 »
+1
I let my accountant do it. She even fills in the UK amount of the US$ whenever I get a payment. (I sent her a list of my US$ payments and she found the US$ rate for that day. At least nowadays she'll have a lot fewer, with iS payments being monthly now rather than weekly.)

Still, HMRC can be helpful on the phone, though I've often had a wait of half an hour or more. And bizarrely I found they were a lot more concerned about NI than tax.

« Reply #2 on: October 13, 2015, 07:31 »
0
I've just always used the amount Paypal converts to at the time of conversion.

ShadySue

  • There is a crack in everything
« Reply #3 on: October 13, 2015, 07:45 »
0
I've just always used the amount Paypal converts to at the time of conversion.
I used to do that, then PP changed everything on my account and I couldn't work it out any more.
Still, years ago the first time my husband had to fill in for self earnings, I did the form for him, and the Tax Office didn't accept it, and eventually we got an accountant who said everything I had done was correct, but also found a good amount of money we were each owed from our PAYE employment (I only had PAYE then), so I reckon they earn their keep.

Still, if you want to do it yourself, phone them for correct advice; but like I said, be prepared to wait a while.


 

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