tax return advice

[bobbyhibs1983]

Morning folks

Im looking for some advice regards if i do or don't have to fill in a tax return.I have looked on the hmrc website and it wasn't too clear if i should or shouldn't do a tax return.

I have recently started buying shares. nothing too much and well i guess my total spend on them is only £1000.

I have sold some shares(making a small loss)

I have recieved some diverends(at most £20)

I have an isa acount which has some money in it.

I work and my work pays tax on what i earn.

Can anyone advice? or point me to a good website that explains things in plain english?

many thanks in advance

bob:thumbsup:

[CropleyWasGod]

Morning folks

Im looking for some advice regards if i do or don't have to fill in a tax return.I have looked on the hmrc website and it wasn't too clear if i should or shouldn't do a tax return.

I have recently started buying shares. nothing too much and well i guess my total spend on them is only £1000.

I have sold some shares(making a small loss)

I have recieved some diverends(at most £20)

I have an isa acount which has some money in it.

I work and my work pays tax on what i earn.

Can anyone advice? or point me to a good website that explains things in plain english?

many thanks in advance

bob:thumbsup:

If HMRC have sent you a notice to submit a Tax Return, then you have to.

If they haven't, you only need to do so if you think that some of your income hasn't been taxed correctly. From what you say, that isn't the case.

I would suggest that you don't need to do one. However, you should be clear that, for the moment, you should only be considering the year ended 5 April 2013. If any of the above applies, you need to submit the Return online by the end of this month.

Further tip.... keep a note of the losses you have had on your shares. These can be set against any gains you make in future years.

[bobbyhibs1983]

If HMRC have sent you a notice to submit a Tax Return, then you have to.

If they haven't, you only need to do so if you think that some of your income hasn't been taxed correctly. From what you say, that isn't the case.

I would suggest that you don't need to do one. However, you should be clear that, for the moment, you should only be considering the year ended 5 April 2013. If any of the above applies, you need to submit the Return online by the end of this month.

Further tip.... keep a note of the losses you have had on your shares. These can be set against any gains you make in future years.


Ok thank you very much for your advice.

as it stands i HAVE NOT recieved anything from the hmrc(though im sure they have people in the gorgie area to get money off before lil ol me)

thanks again for yuor advice