The Tax Preparation Blog

Posts Tagged ‘dates’

Question: I contracted as a limited company in the UK, now I have to file a personal tax return – help!!?

I contracted for 5 months (March 07 – July 07) and set myself up as a limited company to pay less tax. I used an accounting firm to sort this out for me. Now I have to file a tax return for the tax year 06/07 and I’m completely clueless as to how to do it. Do I include the limited company earnings? I assume it’s relatively straightforward for the months up to March when I started contracting, as I was in ‘normal’ employment up to then and have a P60 for the job I finished in February 06.

How do I disclose the income I earned from March 1 (date I started contracting) – April 5 (end of tax year)?

Answer: Hi,
The tax year in the uk runs from the 6th April to the 5th April the year after.

Therefore, for your 06-07 return, you will only be required to declare your earnings from when you started in March up until the 5th of April 2007.

Any income you earnt after that date would be declared in your tax return for 07-08 in a years time – and as you rightly said, your PAYE earnings will not be affected, the inland revenue will already have it on record that you were employed up until March.

If you use an accounting firm, they should be doing all the necessaries for you – all you will need to do is submit your receipts for any work-related expenses you have incurred.

Hope that helped – don’t forget that tax returns have to be filed by the end of January to avoid being fined!

Updated: Myanmar’s junta leaders “stupid” and “dumb”

In a latest diplomatic cables leaked by whistle-blowing site WikiLeaks, Singapore’s Minister Mentor Lee Kuan Yew was cited as calling Myanmar’s junta leaders “stupid and dense” and Taiwan’s former President Chen Shui Bian a “gambler” who was ready to “go for broke” on independence. The classified document relates to a confidential briefing on a 2007 conversation between Minister Mentor Lee Kuan …

Can I Claim A UK Tax Refund?

Question: Are Astronauts required to file tax return?

I want to be an astronaut (hopefully after I finish this community college some day). So when I go on NASA space shuttle mission that lasts for years, are they expecting me to file a tax return when I return to Earth. I wasn’t even living in the world, I wasn’t using your streets, food or drink. What if the shuttle’s return to Earth was delayed after April 15 due (tax due date) due to solar flares or bad weather prevented the safe reentry of the space shuttle?
I don’t think I should be held liable!

Answer: We all have to file tax returns!

Former FF councillors on trial for corruption

FOUR former Fianna Fáil councillors and businessman Jim Kennedy are to face a criminal trial on charges of planning corruption related to the rezoning of lands in Carrickmines, Co Dublin, during the 1990s.

File your India tax return by July 31 2010

Question: If I received a tenant’s January 2009 monthly payment on 12/31/2008. Is that income for 2008 or 2009?

Does rent payment received for tax reasons go by the month that it is due (January 2009) or the date that the rent was received (12/31/08)? The contract is for rents to be due on the 1st of the month.

Answer: It depends on your accounting method. If you use cash accounting and you deposit the check 12/31, it’s 2008. If you use cash accounting and deposit it 1/1, it’s 2009. If you use accrual accounting, it’s 2008.

easyhome Ltd. Reports 2009 Fourth Quarter and Annual Results

MISSISSAUGA, ONTARIO–(Marketwire – March 9, 2010) – easyhome Ltd. (TSX:EH), Canada’s largest merchandise leasing company, today announced its unaudited results for the fourth quarter and full year ended December 31, 2009. F

Obama Budget – An “Unsustainable Course” – Deficit Spending, Taxing, Borrowing, Bankruptcy

Question: Can I file my tax return for 2006 if worked whole year as selfemployed in overseas?

Me & family got USA citizenship. Last year I moved overseas to do some reserach works on eartquake victims. Last year 2005 since I worked in USA and remained there for more then 6 months as such I filed my tax return accordingly. But in Year 2006 the whole year I remained self employed at overseas and my tax was deducted accordingly to local laws.
Now I need to know can I file my 1040 or other relevant tax return claiming self employed with foreign earnings? I need to find out before 15th
April as the last date of filing tax return.

Answer: You MUST file. You MUST pay US taxes on local, foreign wages that are taxed locally. However, you’ll be able to deduct the local foreign taxes. The IRS Representative at the US embassy in the country you’re located will have all the forms and answers.

Final SRLY Regs.: effective date provision bears watching.(IRS regulations concerning consolidated returns; separate return limitation year): An article from: The Tax Adviser $5.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on December 1, 1999. The length of the article is 438 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTit…

Corporate income tax adjustments and reporting operating practices – tax returns training handouts -2011 Edition $129.70 …

new corporate income tax returns and tax planning guide $95.73 …

Parliament considers new funding for Moroccan affordable housing

05 January 2010 The 2010 Finance Bill may include incentives designed to speed up construction of homes that are within the grasp of low-income Moroccans.

Track Your Trades — generate IRS Schedule D for your tax return

Question: What is the last date of filing income tax return in India for assessment year 2008-09 for Individuals?

Is there any penalty if return filed after due date ?

Answer: The last date is July 31, 2008. After that on the tax due, you must pay interest at 1% per month.
Read

http://mytaxes.in/index.php?topic=16.0

Fitch Affirms Chugach Electric Association $270MM Series A at ‘A-’; Outlook Stable

NEW YORK—-Fitch Ratings affirms its ‘A-’ rating to the Chugach Electric Association, Inc.’s , $270 million in outstanding senior unsecured Series A bonds. The Rating Outlook is Stable.

BRAD PITT Katrina Recovery