The Tax Preparation Blog

Archive for March, 2007

Question: While filing Self assessment, my P45 is wrong?

I’m planning to file Self Assessment for this year. And checked that P45 is wrongly calculated by including 1 month extra salary and tax paid (this was the mistake from an accountant when i was working as contractor of my own limited company). And due to which P60 is issued including this wrong P45 income earned and tax paid of last company.

I’m not sure how should i proceed further with this extra month salary included in my last companies P45 and same is recorded in P60 (as last company earned).

Answer: You need to go back to accountant to get this amended. It is not just the forms P45 and P60 (although I can’t understand how you have both those forms, it should be one or the other), but the employer’s return which will be incorrect. Unless you are saying that form P45 details was shown as previous pay on a later employment’s form P60.You will need to arrange for erring accountant (or do it yourself if he is so inefficient) to amend that employer’s return, and issue a corrected form P45. That can be done if employer issung can tear up wrong original.
I suspect that, though, this is in the last tax year. I think accountant should give you a signed letter on headed notepaper, apolgising figures were incorrect, and stating correct fiigures. There will still need to be an amendment to employer’s return. And if it his error, he shouldn’t charge you.
If form P60 is from a subsequent employer, that employment figure should be correct, even if total for year isn’t. Tax office will probably accept amended figure if you have right documentation.

Notes on the dominion of Canada Income war tax act, the Excess profits tax act, and the Wartime salaries order, …

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‘Game of Life’ hits too close to home

Rite Aid Pharmacy is now promising to pay off the mortgages of two lucky customers, and is giving away 10 “Mega-Kitchen Makeovers” and six Infiniti convertible sports…

Houston Tax CPA – Houston Tax Refunds

Question: Is any body know the IRS training centers and test in NJ?

I need to find out where can I take the irs Tax preparer TRAINING AND exam in NJ- THANKS

Answer: I think I would take a look at this site if you are interested

http://jobs.irs.gov/opp_acc_iraSrQual.html

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Tax preparers to face new regulation, IRS scrutiny

Washington » The IRS will require tax preparers to pass a test and register with the government to better police a largely unregulated industry used by most taxpayers.

January 4 Biz Minute