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Thread: More UK tax questions...

  1. #1
    Featured Member Incantatious's Avatar
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    Default More UK tax questions...

    Hokay! I registered as Self-Employed a week or so ago and I just got a letter back about it. Is all okies and pretty standard I believe, though there's a bit that says:

    "What happens next?
    - You will receive a Notice requiring you to complete your tax return
    - You will have at least three months from the date of issue shown on the Notice to send in your tax return, either online or on paper."

    And... I am not getting what this means :/ Is a 'tax return' basically = pay taxes?

    I am a little worries as I have no money saved to pay this with right now? I don't know when I am supposed to start paying? I thought it was the end of the tax year rather than like... now / few months? Agg.. confusion.

    Is there an actual date for us UKers to pay tax? Like, all of us? Or can we choose when to pay? Or ...I don't get how it'd decided when we pay?

    I am still under the threshold in terms of the personal allowance shtick - I've not made over like £7000 - £8000 (or whatever the personal amount you're allowed to earn is).

    Basically... yeah I need help interpreting what the letter said there!

    Thank you for any help!




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    Default Re: More UK tax questions...

    Yeah there is a dead line ,Jan 31st ..... Thats for tax year ending april the previous year . Unless you have business to declare between april 2010-april 2011 , you don't have anything to file until Jan 2013 .

    As for the threshold - You must declare your earnings whether you earn over the thresh hold or not .

    Hope this helps .

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  4. #3
    Featured Member Incantatious's Avatar
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    Default Re: More UK tax questions...

    Thanks a ton missy!! You are *always* a great help to me in my tax woes!
    x




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    Featured Member TeenageAnnie's Avatar
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    Default Re: More UK tax questions...

    You probably know this already, but incase someone else didnt... on the same website you filed your tax return (for last year) you can download a form for paying your national insurance and print it out, fill it out and send it off, you need to pay class2 which is like £2.50 a week or something, I set up a direct debit. you need to pay this starting straight away.

    Oh and I got £70 back when I filed my last years tax return. YaY.. apperently I'd over paid from the company I was working for...

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    Member cbe313's Avatar
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    Default Re: More UK tax questions...

    you dont need to pay the national insurance if you have earnings low enough so ring up and check with them and they will let you know if you can fill out the exemption form.

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    Default Re: More UK tax questions...

    Yeah if you earn less than £5300 a year you MIGHT not have to pay... but who is aiming to make less than that a year?

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    Default Re: More UK tax questions...

    The OP has made less than the thresh hold , she stated in the opening post ... so In this case, she won't need to contribute to either N.I nor Income tax , her contribution for NI will be made for her by the state .

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    Default Re: More UK tax questions...

    National Insurance is based on what you are currently making not what you made last year... so if she plans on making £5000 in the next year she will need to pay it [redacted]
    Last edited by IsobelWren; 02-18-2012 at 11:47 AM.

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    Default Re: More UK tax questions...

    My accountant advised me to pay my NI 6 monthly , there are various ways of submitting the payment - the OP does not necessarily need to cough up now !
    Last edited by IsobelWren; 02-18-2012 at 11:48 AM.

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    Default Re: More UK tax questions...

    Welcome to the club lady, i just registered too :p i haven't had a letter yet though! I was also wondering the same thi xng though the hrmc chappy i spoke to on the phone was under the impression i probably wouldn't have to pay anything till next year x

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    Default Re: More UK tax questions...

    -------
    Last edited by MissKatie; 02-25-2012 at 04:36 PM.

  19. #12
    Featured Member Incantatious's Avatar
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    Default Re: More UK tax questions...

    Gulp! I'm going to have to start saving to pay mine (yup - I haven't even saved anything for taxes yet! :S)

    Do you what kind of percentage they take? Like, on averagely-ish, for us? Is it dependant on the job type (i.e. self-employed?), and / or how much you make? I guess it's a combination of both?

    I hope it's easy to work out what amount to pay and knowing how much to save..

    And that I don't turn into this guy! -


    XD




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    Default Re: More UK tax questions...

    Hi, I came across this post (although it's a bit old I haven't been on here long). Feel free to contact myself or look at my website () should you need any advice etc.

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