Tax rebate 2019

Dazed_and_confused

It is next to the class 2 entry in the tax calculation i think

Lee_baker

I just went through it couldn’t see anything about class4 but my profits were£26k but 11k is not taxable as it classed as a personal allowance so that leaves 14k who is taxable so that works out at 2.5k tax due but I was taxed over 6k so I can’t see the issue but I could be missing something

Dazed_and_confused

Better do some reading. HMRC may well investigate your return. I really wouldn't be expecting a tax refund at the moment.

https://www.litrg.org.uk/tax-guides/self-employment/what-national-insurance-do-i-pay-if-i-am-self-employed

https://www.gov.uk/self-employed-national-insurance-rates

Lee_baker

I’ve just gone back through my application on the amend return option and it was down as I’m Exempt from paying class 4 so I have changed it and sent it again hopefully shouldn’t cause to much of an issue?

Ksowen93

Dazed and confused. Is that the same for people
Under the CIS scheme ?

Dazed_and_confused

Yes. CIS means you are self employed, running your own business so you have to pay class 2 and Class 4 National Insurance (if your profit is high enough).

There are exemptions i.e. you are old enough not to need to pay it but most people will have to pay it

Lee_baker

Yes I’ve had to pay it and it’s taken 2k of my original figure 😫 oh well better than owing I suppose

Phil88s

I've just been on and had to amend my calculation, had myself exempt from class 4, worth a quick scan through

Dazed_and_confused

Why did you think you were exempt?

Mrmadmoo

Well another bank payment had gone in, the second one for the same tax return, last one was a non appearance into the account, spoke to them 29th, payment into bank 3rd, so quite quick if it appears, return submitted 08/04/19, rebate claimed 10/04/19, payment issued 18th, payment vanished so webchat and payment reissued on 29th, and bank payment on 3rd, let's see if this one appears in the bank