Tax Return

Posted on 2016/01/20 22:00:46 (January 2016).

[Tuesday 12th January 2016]
Submitted my tax return today. Having sold quite a lot of shares to buy the flat, for this financial year for the first time I needed to fill out the capital gains tax section, as I'd gone over the annual allowance. The rules surrounding shares and capital gains calculations are a bit complicated particularly if you regularly receive shares as part of your compensation from work. I had initially thought I was going to have to get an accountant to do this for me, but was rather taken aback at the quote I had received from one (£800+vat!) when fundamentally this was something like creating a spreadsheet. The engineer in me couldn't bring myself to hand over that sort of cash for effectively just feeding a list of all the sales and acquisitions into some piece of software or other, and then sending back the result. So in the past week or two I had spent quite a lot of time reading carefully through all the rules from HMRC, understanding how that all applied to our particular stock setup at work, and then writing a program to do the calculation for me. It was rather gratifying to submit my self assessment based on that today, and actually feel fairly confident I'd got it right (and moreover I'd saved a thousand quid in the process!).

That's my boy!

Posted by John's Mum at 2016/01/21 09:23:37.

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