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We caught up with our support team to see what kind of questions they’re asked and which ones were the most frequently asked. Without further ado, here are the most common questions and their answers in small, digestible bits.
It’s a common misconception that as soon as you file, you have pay on the spot. In reality, the earlier you complete your tax return, the longer you have to pay the outstanding tax bill. Everyone pays on 31st January.
That means that if you file your tax return at the start of the new tax year on 6th April, for example, you’re given your tax bill immediately and then you have 9 months to save for it. This is especially important to be aware of if it’s your first year self-employed and you’re about to be hit with up-front payments on account!
At TaxScouts, we partner with accountants and lots of them run their own accounting businesses. This means that they work alongside us and are paid per return, rather than being our employees. Only the TaxScouts employees use TaxScouts email addresses. So, when your accountant contacts you, they will use their personal email address.
The submission response is a receipt provided by HMRC to TaxScouts once a tax return has been filed. It’s essentially like a receipt you’d get in a shop for anything you purchase.
While it can typically take up to a week for HMRC’s government gateway to update with your filed tax return, the submission response is automatically generated and uploaded to your profile. If you need to contact HMRC about your tax return, having your submission response handy will make the process a lot easier.
It can be downloaded from your TaxScouts profile and will remain there indefinitely. If you do need to contact HMRC, quoting the reference number in the submission response (known as an IR mark) when you speak to them will mean they can track and deal with your query more effectively.
When you login to your TaxScouts account, all your tax returns from previous years are listed in the Overview section.
If you’ve forgotten your password, just click the ‘Forgot password’ link when you login. We’ll send you an email with a link to reset it.
Our accountants will need to see evidence of your income and expenses. How you present this is up to you. We recommend using a spreadsheet or uploading directly from any accounting software that you use (e.g. Quickbooks).
If you’re paying your tax bill by bank transfer, you should pay using these details
|Account name||Sort Code||Account Number||Reference|
|HMRC Cumbernauld||08-32-10||12001039||[your UTR number] + K|
If you’re paying from outside the UK:
|Account name||Account Number (IBAN)||Reference (BIC)|
Read more about how to pay your tax bill on our blog.
No. You can just click the approve button if you’re happy with all the details on your tax return.
And if there’s anything else we can help with, feel free to get in touch! We’re available via the live chat on our homepage or on [email protected].
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