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Which figure do tax credits need for self employment
Kayalana99
Posts: 3,626 Forumite
Hi guys, :mad:
Just spent 10min on phone getting through their stupid robot woman only for them to say 'we can't help you right now goodbye' and put the phone down!!
I wouldn't mind them asking the questions if once the operator picks up the phone he just asks you the same thing so it just seems so pointless...
ANYWAY sorry rant over.
I need to update self employment and I have these figures;
21. Net profit - if your business income is more than your expenses:
28. Net business profit for tax purposes:
Wondering which one they need as I think I will just send a letter...
Just spent 10min on phone getting through their stupid robot woman only for them to say 'we can't help you right now goodbye' and put the phone down!!
I wouldn't mind them asking the questions if once the operator picks up the phone he just asks you the same thing so it just seems so pointless...
ANYWAY sorry rant over.
I need to update self employment and I have these figures;
21. Net profit - if your business income is more than your expenses:
28. Net business profit for tax purposes:
Wondering which one they need as I think I will just send a letter...
People don't know what they want until you show them.
0
Comments
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Kayalana99 wrote: »Hi guys, :mad:
Just spent 10min on phone getting through their stupid robot woman only for them to say 'we can't help you right now goodbye' and put the phone down!!
I wouldn't mind them asking the questions if once the operator picks up the phone he just asks you the same thing so it just seems so pointless...
ANYWAY sorry rant over.
I need to update self employment and I have these figures;
21. Net profit - if your business income is more than your expenses:
28. Net business profit for tax purposes:
Wondering which one they need as I think I will just send a letter...
Where are you getting those two numbers from?
They need the taxable profit/loss figure that you would declare on your tax return (which is income minus allowable expenses and capital allowances).
Google form TC825 which will tell you.
IQ0 -
That's of the tax return it self, 21 I think is income with capital allowances and 28 is without capital allowances and the figure that tax is worked out fromPeople don't know what they want until you show them.0
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No
The main headings in the Tax return aren't numbered (and each section has it's own set of numbers 1+ ) and it says put profit in.
It is either my net profit(captial expences not taken off) or my taxable profitPeople don't know what they want until you show them.0 -
Kayalana99 wrote: »No The main headings in the Tax return aren't numbered (and each section has it's own set of numbers 1+ ) and it says put profit in.
It is either my net profit(captial expences not taken off) or my taxable profit
It is your taxable profit (with capital allowances taken off)
IQ0
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