Tax return questions

textbook

I have about £6000 self employed net income and 5400 from PAYE, why am I paying £40 tax when I'm below the tax threshold?  I ticked voluntary payment of class 2, is that wise?

[Deleted User]

textbook said:

I have about £6000 self employed net income and 5400 from PAYE, why am I paying £40 tax when I'm below the tax threshold?  I ticked voluntary payment of class 2, is that wise?

This bears no resemblance to the entries in your other thread. What happened to the CIS deductions? Have you transferred part of your allowance to your spouse?

eskbanker

textbook said:

I have about £6000 self employed net income and 5400 from PAYE, why am I paying £40 tax when I'm below the tax threshold?

Probably worth sharing the draft calculation from the end of the process rather than selected screenshots?

Dazed_and_C0nfused

Did you declare some Gift Aid donations?

textbook

eskbanker said:

textbook said:

I have about £6000 self employed net income and 5400 from PAYE, why am I paying £40 tax when I'm below the tax threshold?

Probably worth sharing the draft calculation from the end of the process rather than selected screenshots?

I put £138 for CIS, that's 20% of net pay i was given but as the company can't find or verify that I worked for them despite getting two bacs payments I might put £0 or nothing to play it safe and not try and claim back any tax ?

Put a note of this in comments

textbook

Dazed_and_C0nfused said:

Did you declare some Gift Aid donations?

Don't think so

mybestattempt

@textbook

At this late stage I don't think anyone here can say whether your tax return as it stands now is correct.

It has to be submitted tomorrow to avoid a late filing penalty.

I'm assuming you have included the estimated gross CIS income in your self employment income?

If you submit a return with estimates of income and tax deducted you need to say so in the box for additional information and detail how you worked out the estimated figures.

[Deleted User]

textbook said:

eskbanker said:

textbook said:

I have about £6000 self employed net income and 5400 from PAYE, why am I paying £40 tax when I'm below the tax threshold?

Probably worth sharing the draft calculation from the end of the process rather than selected screenshots?

I put £138 for CIS, that's 20% of net pay i was given but as the company can't find or verify that I worked for them despite getting two bacs payments I might put £0 or nothing to play it safe and not try and claim back any tax ?

Put a note of this in comments

As HMRC will have received the CIS information from the contractor I am not sure declaring zero is playing it safe.

textbook

mybestattempt said

@textbook

At this late stage I don't think anyone here can say whether your tax return as it stands now is correct.

It has to be submitted tomorrow to avoid a late filing penalty.

I'm assuming you have included the estimated gross CIS income in your self employment income?

If you submit a return with estimates of income and tax deducted you need to say so in the box for additional information and detail how you worked out the estimated figures.

I need to add the CIS deduction (20%) £138 onto my self employed total income as well as in CIS section?

I was gonna put £0 for cis deductions just incase they didn't pay it.  Play it safe and added this note.  Says optional in cis tax section anyhow

eskbanker

Just to clarify what I meant by the calculation at the end of the process rather than another series of screenshots, I'm talking about the single page calculation that immediately precedes submission and is well laid out and easy to follow, i.e. the one that looks something like this:

textbook

eskbanker said:

Just to clarify what I meant by the

 calculation at the end of the process rather than another series of screenshots, I'm talking about the single page calculation that immediately precedes submission and is well laid out and easy to follow, i.e. the one that looks something like this:

Can't seem to find the nicely summarised page you show either on pdf or online bit.


Will get my NI paid for pension?   I added voluntary class 2 payments. 

I decided to input £138 for CIS as useless company can't confirm I worked for them with a note I'm chasing them up