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Second Income advice
RaptorUK
Posts: 7 Forumite
OK, hopefully this is the correct forum, admin please move if not.
Current earn £54k in my current role which I have held for 27 years, for the last two years I have been slowly investing in a photography business and this year have earned around £5K
So at a quick glance could anybody advise if I am eligible to a tax return
so for the last two years
I have the following details
2013~2014
£20,000 in camera equipment
and as a second income received £5,800 over the same period as above
Thnx in advance
Regards
Current earn £54k in my current role which I have held for 27 years, for the last two years I have been slowly investing in a photography business and this year have earned around £5K
So at a quick glance could anybody advise if I am eligible to a tax return
so for the last two years
I have the following details
2013~2014
Pay:£53,000
Tax:£11,200
2014~2015
Tax:£11,200
Pay:£56,800
Tax:£12,500
So I have investedTax:£12,500
£20,000 in camera equipment
and as a second income received £5,800 over the same period as above
Thnx in advance
Regards
0
Comments
-
If you are unsure about taxable income it really does pay to see an accountant rather that take random advice from strangers on the Internet. I assume you are already registered as self employed with HMRC and completed returns for the year ended 2014 showing self employed accounts?I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0
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