BBC News
Launch consoleBBC NEWS CHANNEL
Page last updated at 15:04 GMT, Thursday, 30 September 2010 16:04 UK

Money Box Live: Self-assessment and tax

A self assessment form
BBC Radio 4's Money Box Live
Wednesday, 13 October 2010 at 1502 BST On Radio 4 and Online

Nearly six million Pay as You Earn taxpayers were recently told by HM Revenue & Customs (HMRC) that they have paid the wrong amount of tax and must make good the difference.

For the nine million people who reconcile their tax through self-assessment, important deadlines are also looming.

Paper returns must reach HMRC by Sunday 31 October.

Alternatively you could file online by 31 January, but you will need to register for a user ID and an activation code in advance.

An automatic £100 penalty will be issued if you miss the deadline, and if you pay the tax late HMRC will charge interest from the date the tax was due until your payment is received.

If you want to get your tax affairs in order but have a query, why not test the knowledge of our self-assessment experts.

What sort of tax return do you need?

Do you understand which records and information you must supply?

Are you aware of the tax allowance and reliefs available to you?

What expenses should you declare?

Perhaps you have a question about capital gains and losses?

What happens if your income has dropped and you can no longer pay HMRC what you owe?

Or you might be wondering how to file online and when to get started.

Whatever your question Vincent Duggleby and guests were ready to help.

• Leonie Kerswill, tax partner, PricewaterhouseCoopers

• Anita Monteith, tax faculty technical manager, ICAEW

• John Whiting, tax policy director, Chartered Institute of Taxation


Presenter: Vincent Duggleby
Producer: Diane Richardson



Money Box


SEARCH MONEY BOX:
 

Podcast

Download or subscribe to this programme's podcast

Podcast Help



SEE ALSO
External internet links
01 Oct 10 |  Moneybox
Tax bill concessions 'a minority'
13 Oct 10 |  Business
Concession on big back-tax bills
15 Sep 10 |  Business
Income tax system and you
15 Sep 10 |  UK
Top tax man apologises over bills
12 Sep 10 |  Business
Money Box Live: Tax demands
07 Sep 10 |  Moneybox
UK tax system 'to be simplified'
20 Jul 10 |  UK Politics
Osborne increases VAT rate to 20%
23 Jun 10 |  UK Politics
Top tax man defends system
10 Sep 10 |  Moneybox

RELATED BBC LINKS

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

banner watch listen bbc sport Americas Africa Europe Middle East South Asia Asia Pacific