debaura
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Aug 12, 2018 14:24:43 GMT
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Post by debaura on Aug 12, 2018 14:24:43 GMT
Thanks for the correction. It doesn't seem to have made any difference to the tax payable (I am eligible for the full starting rate for savings. so paid no tax on p2p income last year as I was under 17k). I might see if I can change it though. To be honest, I dread having to talk to an accountant about things like this. My experience is that you get better more knowledgable advice on online forums like this, for free and far less effort, than having to explain it to a professional. I don't understand it when people say their accountant has saved them £££s. When you fill out a self assessment, the pounds that can be saved are automatically saved. I find it hard to believe an accountant could save you much money you wouldn't save yourself, with some basic knowledge about tax shelters and using lower earning spouses accounts for investments. Obviously, you need to re-check everything yourself before going ahead with said advice. I have also managed to save 1000s a year by not using a financial advisor. Bogleheads and monevator provide much better advice for free. Absolutely agree hazellend. My last accountant cost me a fortune and I ended up having to correct his submission 3 times! Lucky I checked it! Then he had the nerve to charge me double the estimate. DIY always, and with financial advisors. Anyone with half a brain can do this stuff. I have taught myself investment/ stock exchange and this means I can keep up to date with the market without funding someone else's holiday.
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pom
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Aug 16, 2018 17:13:24 GMT
Post by pom on Aug 16, 2018 17:13:24 GMT
I suspect HMRC will probably start insisting I get an accountant to do my tax return soon, as it must be a fairly unusual one. I don't see why they would, I don't think they care so long as the figures are right and add up, and I think you'd have to try REALLY hard to be that unusual
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pom
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Aug 16, 2018 17:17:35 GMT
Post by pom on Aug 16, 2018 17:17:35 GMT
Thanks for the correction. It doesn't seem to have made any difference to the tax payable (I am eligible for the full starting rate for savings. so paid no tax on p2p income last year as I was under 17k). I might see if I can change it though. It won't - I made the same mistake last year and corrected it when I submitted this years. Treble checked everything and all the figures were the same. I wondered if perhaps they keep it separate because maybe it's easier to verify figures from traditional banks, but who knows. Maybe it's just because p2p isn't traditional.
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pom
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Aug 16, 2018 17:23:15 GMT
Post by pom on Aug 16, 2018 17:23:15 GMT
Usual disclaimer about advice. I dont use non UK platforms so couldnt comment where that should be entered. Suspect mine is just a weird. Agree with PP dividends.
I would have to assume that if it's a small amount it'll just be in the foreign income box, and if it's larger on the foreign income pages (which I have to use for some S&S and can be "fun" specially when it comes to foreign tax credit relief...). I guess you can't offset losses (?)... But I've also avoided any loans in foreign currencies
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