Just a few questions.......

AndyScanlan

Hi all,

I've spent the majority of the day filling out a SA tax return. After much panicking and 3 phone calls to the tax office I think I've sorted it.

The reason for my post is that I'm now thinking ahead to next year when I have to go through this all again, and if my current financial situation doest improve then I can envisage a lot more panicking. I've worked out that so far this tax year I've earnt just less than £4100 profit before deductions such as petrol etc.

Now I've googled this to death and still feel none the wiser but if I were to earn less than the personal allowance of £7475 or whatever it is for the 2011/2012 tax year would I be charged anything in income tax. Also if my total profits are under the personal allowance what happens in regards to reclaiming expense's.

I apologize if these questions make me sound like an absolute muppet but as I said before my financial situation is terrible purely due to me being useless with money, records, payments etc so anything I can learn now to help me figure this all out and take some pressure off my mind would be greatly appreciated.

Regards,

Andy

pjclar02

Hello there

If your total earnings are below the personal allowance then you do not have to pay any tax. If they are below the small earnings exception level (around £5,315 for 2011/12) you could claim back the class 2 NIC you paid during the year (however this could cost you state pension credits).

AndyScanlan

Hi, thanks for your reply.

Im currently in the process of claiming National Insurance Credits as Im working approximately 11-12 hours per week and as said earlier my financial situation is terrible. Ive asked for this claim to be backdated to 10/4/2011 but Im unsure if this has happened so I guess that this information would need to be supplied when I come to fill out next years tax return.