Tax Year 2013-2014 - Filing Tax Return Online
If you earn money online, you have to declare it for tax. That doesn't mean you will pay tax on it, but it does need to be declared.
Well, today I am close to having completed my 2013-2014 tax return and I made less income working online than I had thought. It was probably my worst online earnings income to date in fact, although I will admit to having found myself all at sea as so many changes had occurred in Internet traffic, the way Google mixed up their search engine algorithm - and the fact I was so overwhelmed with all the changes I had to make that couldn't see the wood for the trees.
During this tax year, it seems Bubblews dug me out of the immediate hole, which is why I wrote on Bubblews - for the quick cash injection. During tax year 2013-2014 I received income from Bubblews of about $1500 between mid August 2013 and the end of April 2014. That was a handy £1000 or so!
It's sometimes difficult to really get a handle on income when you're self-employed as you're so interested in today, this week, this month, that you're not really sure how that worked out in the longer term - then, when you look back at the tax year - so long ago - it's such distant history.
The tax return for April 2013 to 5 April 2014 is due in by tomorrow. I've 99% of it organised, checked, double checked etc now and mostly input online, ready to submit. I end up checking and double checking it all so many, many times, fearful I missed out something vital!
It'll be over soon ... and then I can relax!
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TaxReturn TaxYear OnlineIncome TaxableIncome HMRC UKTax SelfAssessment PersonaPaper 012015 ___
C/1330/1032/155
Image Credit » My photo - photo taken of my tax letter with my camera
Comments
Koalemos wrote on January 30, 2015, 10:59 AM
I cannot think of anyone who enjoys filling in tax returns.
1JohnRoberts wrote on January 30, 2015, 11:03 AM
In the US, you have to report $400 plus online earnings as an independent contractor (self employed) and you will pay social security tax even if you are below the poverty line and don't have to pay Fed taxes.
1Magnolia wrote on January 30, 2015, 7:11 PM
I have not filed my taxes this year yet as we are waiting for a w-2 but I am dreading it with all the new tax laws and such for the USA. Good for you for being on top of things
1UK_Writer wrote on January 31, 2015, 3:57 AM
No. I don't mind doing it, but for "a bit of writing" type of income it's a pain as it's in 2-3 currencies too. It's more the fear of the unknown bureaucrats that makes one put it off until the last minute, rather than the process itself.
1UK_Writer wrote on January 31, 2015, 3:59 AM
In the UK you should register for any earnings - and for the simplest accounts (up to about $25k) we just have to enter two figures of "money in" "expenses paid out", but then you also have to enter all other figures and start to get your head around their wording and what they want/mean. e.g. I am not on benefits at all, but those who claim then have to know whether each benefit they get are taxable/not etc. and these "other income" figures have to be input.
1UK_Writer wrote on January 31, 2015, 4:00 AM
Always new laws, rules and things. They don't make it easy for regular people to do the right thing easily
1trufflehunter wrote on January 31, 2015, 12:26 PM
Where I am some companies do the filing for you, so all you have to do is log in and e-file with a click or so. Much better than me filling up paper forms - I am bound to miss something!
1seren3 wrote on January 31, 2015, 1:03 PM
Thank heavens mine is due April 15th! I always declare all my income, and indeed I get extra deductions because of it too.
1Dragonfairy1 wrote on January 31, 2015, 4:40 PM
I'm pleased you got it done, you left it late lol.
1louisechackett wrote on February 2, 2015, 6:58 AM
I remember my ex struggling with the tax return
1scheng1 wrote on February 4, 2015, 8:20 AM
Fortunately for us Singaporeans, we do not have to declare or pay income tax because money earned overseas are tax free.
1UK_Writer wrote on February 5, 2015, 1:05 PM
That's not possible here, it has to be the one proper return all done on one set of papers, that you add up and submit. It includes things like interest earnt on savings, or any shares income, any other income from employment and even any pensions income or property rent, or anything. One tax return for every income stream, no matter how/what/why.
1UK_Writer wrote on February 5, 2015, 1:06 PM
Really? Seems unusually generous of a govt to do that.
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