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query re final income when s/e & employed in same year
can_i_ask
Posts: 24 Forumite
Hello,
I wonder if you can help me? My partner was made redundant last year and started up his own business - all of which was reported to WTC/CTC people at that point we estimated his employed earnings were 14k (when p60 came through they were 16k) and we estimated that income would be nil from sept-april due to start up costs etc - now we are just doing our figures for s/e and here is the query - it would appear that at this point we have a small loss of 5k but all is looking good for forthcoming tax year (fingers crossed!)
Now when he calls them with final figures for teh year he will have actually have earnt 11k BUT do they use the 16k - or is it 16k minus 5k so income used is 11k?
Hope someone can help
CIA xx
I wonder if you can help me? My partner was made redundant last year and started up his own business - all of which was reported to WTC/CTC people at that point we estimated his employed earnings were 14k (when p60 came through they were 16k) and we estimated that income would be nil from sept-april due to start up costs etc - now we are just doing our figures for s/e and here is the query - it would appear that at this point we have a small loss of 5k but all is looking good for forthcoming tax year (fingers crossed!)
Now when he calls them with final figures for teh year he will have actually have earnt 11k BUT do they use the 16k - or is it 16k minus 5k so income used is 11k?
Hope someone can help
CIA xx
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