Happy New Year!

Yes, it’s New Year again. No, I haven’t lost my marbles…

It’s the 6th April, that day when you’ve just lost your ISA allowance and you can look forward to filling in your tax returns.

And this New Year we have an election to look forward to which probably means that next New Year you’ll have even more complicated tax returns to fill in. Hoorah!

I love the New Year. It gives me an opportunity to collect interest certificates from all the banks I deal with that I always have to chase. Then I get to update all my spreadsheets to keep track of my complicated financial life. It was so much simpler when I was an employee and just had a salary check coming in each month. Keeping track of your pensions and investments when you retire and live of the proceeds of selling your old house can be a right royal pain in the arse.

So, for this Easter holiday I shall be head in computer trying to get it all done – and the sooner the better because for some strange reason HMRC always seem to have overdeducted my tax and I need to claim it back. Of course if I owe them money, then I get charged penalties and interest but if they owe me money, I get bugger all. Funny, that…

So to one and all : Happy New Year

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3 responses to “Happy New Year!

  1. The tax office once owed me £800.00 it took 9 months to get it back and no interest paid to me, I once owed them £15.00 after 2 weeks they sent me a pre summons notice + a “Handling fee” of £35.00 I kid you not!

  2. You're lucky. Because we live on investments where tax is deducted at source, they always owe me money. Last year they repaid us £1,936 and this year looks like it will be about the same.

    They do pay it back pretty quick these days to be fair. Last year I got the 2 returns (one for me and one for Mrs D) in on line by late April and the money was in the bank before the end of the month. The secret is to do it on line. It's considerably quicker.

  3. Rumour has it that Ed “Talking” Balls has devised a simplified 2-line tax form:-

    1) How much did you earn last year?

    2) Please enclose it in the envelope supplied.