Tax Returns

Discussion in 'Finance, Property, Law' started by MonkeyMoped, Jan 14, 2008.

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  1. Anyone any tips on completing tax returns when your only income is through the Army (other than some taxable savings)? (I'm a tax return virgin!!)

    Rumours abound around here on what you can and cannot claim back; haircuts and boot polish (!!!???!!), mileage up to 10k miles if you've claimed MMA for work purposes when using your own car...anything else?
  2. If your only income is from the Army, you are taxed at source. Why do you need to fill in a tax return?
  3. I asked HRMC exactly the same question. As soon as anyone hits the 40% tax bracket, they can ask you to complete a tax return so that they can collect the extra pennies you might make on taxable savings, which are only taxed at source at the lower tax rate.

    Unfortunately, they didn't tell me they wanted one filling in the year before last and charged me £200 for failure to submit! So I've now got 2 to do!
  4. They seem to change the rules with the weather these days. I have been self assesssed for the past four years, and I do it online (ooer!)

    There are help pages for every part of the form and it calculates the tax owed for you. Hope this is of use.
  5. Thanks MS. I've had a look at the website already and intend to submit on line. However, I was wondering if any other mil types have had do complete these and know of any additional tax-breaks and allowances that can be claimed back.
  6. I reckon there are a couple of allowances that might be of interest if you are taxed at 40%:

    Charitable donations (Gift Aid)
    Motor Mileage Allowance
    Membership of Institute(s)
    Contributions to personal pensions

    Only the latter is important if you are taxed at 22%, IMHO.

    Otherwise it is too much of a hassle; again, IMHO.