Ready, steady… save!
You don’t need a chart to join in. Here are 2 ways to record your savings:
1. Cross it off
Pop a chart into your first post. Saved an amount? Cross it out! Read more »
£0.01 £0.02 £0.03
2. Write it down
Skip the chart and add updates to your first post. Read more »
“Another +£3 saved today. Go me!”
Use +£ before each new saving so it counts towards your total.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Tax Allowances (PAYE & Self Employed) - Minimum?
effortless
Posts: 52 Forumite
in Cutting tax
Hey guys,
I'm shortly going to be filling in my self assessment, and I have many questions. I'll start with this one (and create others in seperate threads later).
I earn less than taxable income from PAYE, just under £4000 through a Part Time Wage.
My total money received from my self assessment from the date i registered to April 2nd 2010 will be less than £3000.
Will the same rule apply to the self-employed amount? Will they be added together & calculated?
Thanks for any help!
I'm shortly going to be filling in my self assessment, and I have many questions. I'll start with this one (and create others in seperate threads later).
I earn less than taxable income from PAYE, just under £4000 through a Part Time Wage.
My total money received from my self assessment from the date i registered to April 2nd 2010 will be less than £3000.
Will the same rule apply to the self-employed amount? Will they be added together & calculated?
Thanks for any help!
0
Comments
-
effortless wrote: »
Will they be added together & calculated?
Yes. Total of (under) £7000 .......... less personal allowance of £6475 = some £500 or thereabouts taxable @ 20%.
If you have any Interest to declare ...... most of that should only be taxable at 10%. So there will be an element of set off if tax has been deducted at source at 20%?If you want to test the depth of the water .........don't use both feet !0 -
yes, your incomes are added together and if your total is greater than £6475 pa then you pay tax at 20% on the amount over than.
*by income here I mean profit for the self employmentEU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.9K Banking & Borrowing
- 255K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.4K Work, Benefits & Business
- 606.1K Mortgages, Homes & Bills
- 179.1K Life & Family
- 264K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards