Tax in advance query

jules9

I know that if you earn below a certain amount that you only pay tax at year end...if you earn more then you have to pay twice a year...can anyone remind me the figure to keep below to avoid this twice a year payment?

McKneff

Do you mean whilst self employed or do you work for someone.

Your tax allowance for this year is £8105, you will pay 20% tax on anything earned over that.

Dont forget you also have NI to pay.

jules9

Thanks, to clarify i am referring to self employed.
I know that there is a figure which, if you keep below then you only have to pay the tax at year end and not another amount in advance later...
It's that figure i need to know

p00hsticks

According to the HMRC website, with regard to making payments on account' for the current year (needed by 31st July in the year in question)

You may have to make payments on account towards the current year's tax.
You usually have to make these payments if the tax due for the previous year was over £1,000. But if more than 80 per cent of this tax has already been collected at source, you won't have to make payments on account.

http://www.hmrc.gov.uk/sa/understand-statement.htm#5