Tax return SEISS question

lazzbo
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Re: Tax return SEISS question

Post by lazzbo »

My first payment has cleared and now they've asked me to pay AGAIN, double what I previously paid. Motherfuckers. :))
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Rebel Pebble
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Re: Tax return SEISS question

Post by Rebel Pebble »

Oh. Bugger. :lg:
Mountain Goat
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Re: Tax return SEISS question

Post by Mountain Goat »

Nooooo.
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lazzbo
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Re: Tax return SEISS question

Post by lazzbo »

Yup. It's my payment on account, apparently, even though I explained why I don't want to pay that much on account. Beers are no longer on me, lads. :cry:
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Rebel Pebble
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Re: Tax return SEISS question

Post by Rebel Pebble »

If you really think you'll owe a lot less for 2020-2021 than they're demanding for the payment on account, and they're refusing to reduce it for you, then do your tax return as soon as you can in April, to either reduce/remove the July payment or even get a refund of what you're paying now.
lazzbo
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Re: Tax return SEISS question

Post by lazzbo »

That's what my sister just said, Rebs. ARE YOU MY SISTER?! :)) I will absolutely do it by the end of April (hollow laughter, I say this every time).
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Squirrel
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Re: Tax return SEISS question

Post by Squirrel »

That’s what I’m planning to do this year too. What a massive laugh this all is eh :ruby:.
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Rebel Pebble
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Re: Tax return SEISS question

Post by Rebel Pebble »

lazzbo wrote: Thu Jan 21, 2021 9:50 pm That's what my sister just said, Rebs. ARE YOU MY SISTER?! :)) I will absolutely do it by the end of April (hollow laughter, I say this every time).
You have motivation this year though, sis. :george:
lazzbo
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Re: Tax return SEISS question

Post by lazzbo »

:lol: Thanks hermana.
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Rebel Pebble
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Re: Tax return SEISS question

Post by Rebel Pebble »

I just had to look this up again for this year, since Rishi ignoring the existence of October means the latest grant covers Feb-April and therefore definitely straddles two tax years.

Anyway it's taxable in the year it was paid, in other words 21-22 despite being 66% for 20-21. Hey ho.

It also looks like the next grant will be completely different and based on reduction in turnover for 20-21 (versus 19-20 I assume) so late tax doers might have to think about doing things earlier (by July I think)
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