REALLY confused about my tax return.

skintchick

chrisbur wrote: »

Gross and tax figures for the year are
Gross Tax
£10,985.40 £1,825.81
£14,994.62, £2,352.40
£1,600 nil paid
This gives total gross £27,580.02 and total tax paid £4178.21
Freepay allowance for the year is £5229
This leaves taxable pay of £22351.02
£2230 due at 10% is £223
£20121 due at 22% is £4426

£223 + £4426 = £4649 total tax due.
Total tax paid £1825.81 + £2352.40 = £4178.21

Tax due £4649 less tax paid £4178.21 = Tax still due £470.79

Not sure how you have paid any Class 4 NICs. There are none due on £1600 this is well under the self employed earnings that you would pay Class 4 NICs on.

Well they send me a bill for them every quarter! And I pay them. you mean I am due them back? Maybe that explains it?

Anyway I am not offering them more than they ask for :rotfl: it's up to them to calculate it right IMO.

chrisbur

skintchick wrote: »

Well they send me a bill for them every quarter! And I pay them. you mean I am due them back? Maybe that explains it?

Anyway I am not offering them more than they ask for :rotfl: it's up to them to calculate it right IMO.

Are you sure these are not class 2 national insurance. This is currently £2.30 a week which would be £29.90 a quarter. If you have self employed earnings of less than £4825 per annum you can apply for a small earnings exception.
Details at http://www.hmrc.gov.uk/forms/cf10.pdf

Nanuq

skintchick wrote: »

Well they send me a bill for them every quarter! And I pay them. you mean I am due them back? Maybe that explains it?

Anyway I am not offering them more than they ask for :rotfl: it's up to them to calculate it right IMO.

You have to apply for a 1 year exemption certificate, this info should be sent with your quaterly bills, they don't make it easy to find though. I don't think you can reclaim overpaid NI, but it's worth calling and asking.

chrisbur

Nanuq wrote: »

You have to apply for a 1 year exemption certificate, this info should be sent with your quaterly bills, they don't make it easy to find though. I don't think you can reclaim overpaid NI, but it's worth calling and asking.

Details of applying for refund are at the link I gave in my last reply, you have until 31 Jan this year if you want to go back to 07/08 and 31 Jan 2010 for this year.

"You must apply no later than the 31 January following the
end of the tax year (6 April to 5 April) in question.
For example, a refund of Class 2 contributions paid for the
period 6 April 2007 to 5 April 2008 must be claimed after

5 April 2008 but before 31 January 2009."
Link again http://www.hmrc.gov.uk/forms/cf10.pdf

skintchick

chrisbur wrote: »

Are you sure these are not class 2 national insurance. This is currently £2.30 a week which would be £29.90 a quarter. If you have self employed earnings of less than £4825 per annum you can apply for a small earnings exception.
Details at http://www.hmrc.gov.uk/forms/cf10.pdf

ah, yes, that sounds like it. I get very confused by all these different NICs!
I'll look into the exemption - they don;t tell you about that do they?!

lucid2008

You best getting an accountant sort all of it out which should cost about £150 and act as an agent for you and fill in the online form properly.Someone i know was in a very similiar position in the previous tax year and that is what it cost him.

skintchick

lucid2008 wrote: »

You best getting an accountant sort all of it out which should cost about £150 and act as an agent for you and fill in the online form properly.Someone i know was in a very similiar position in the previous tax year and that is what it cost him.

I've considered it but there are such small sums involved it really isn;t worth it. It's not unsorted, I just put the wrong figures in! Easy done with baby brain.