Pay and Tax Details

arctophile

I need a statement of account of pay and tax details for the 2007/2008, now is this a P60? How do I get hold of this? I need it urgently. Any help would be appreciated.

MoneyMagician

arctophile wrote: »

I need a statement of account of pay and tax details for the 2007/2008, now is this a P60? How do I get hold of this? I need it urgently. Any help would be appreciated.

Hello actophile,

More information would be needed on your specific circumstances? Are you employed or self employed? (I'm assuming from your question that you are employed).

As an employee: You are legally due a P60 from your employer by the 19th May for the tax year which finished on 5th April 2008 (2007/08 tax year). This will show your gross salary, deductions for tax, student loan, national insurance and your net pay and also any associated maternity/paternity pay in the tax year.

You may also need to get a P11D statement from your employer which will show any benefits for things such as healthcare, company car etc which you receive as a benefit but don't pay for.

To get hold of this you need to speak to your HR department or if it is a small organiation the person who does payroll.

As self employed: your pay records are effectively your own accounts in whatever form they take.

I hope that this helps you.

MoneyMagician

arctophile

Thanks for the help. I am actually self employed and need this for my tax rebate or it will not happen. I have been searching around the hmrc website all morning with no joy.

LisaContractorUmbrella

If you are a sole trader your earnings for the tax year will be your drawings from your business i.e. the money you have taken throughout the year as your 'wage'. If you have a limited company it will be the salary and dividends that you have drawn. Either way you should have a record in your company accounts

HTH

Pennywise

LisaContractorUmbrella wrote: »

If you are a sole trader your earnings for the tax year will be your drawings from your business i.e. the money you have taken throughout the year as your 'wage'.

Not always. For sole traders, self employed profits are what is taxable, regardless of the amount drawn. If you are keeping profits in the business for reinvestment, i.e. stock or equipment, you may well find that your "profits" for tax purposes are a lot higher than the amount you have actually taken.

You need to prepare proper business accounts - you use the figures from your accounts to enter on the self employment pages of the tax return.

LisaContractorUmbrella

Pennywise wrote: »

Not always. For sole traders, self employed profits are what is taxable, regardless of the amount drawn. If you are keeping profits in the business for reinvestment, i.e. stock or equipment, you may well find that your "profits" for tax purposes are a lot higher than the amount you have actually taken.

You need to prepare proper business accounts - you use the figures from your accounts to enter on the self employment pages of the tax return.

Agreed Pennywise but the OP appeared to be querying personal income rather than profit.

arctophile

I am confused about the whole thing so I may have got my facts wrong. However I worked for a construction company, as a self employed labourer. I need a statement of account of pay and tax details, for 2007/2008. This is so my tax rebate can go through as I had a couple of break in employments with the construction company. I have rang HMRC and they say I can order online but I can not find it anywhere. Sorry if I got my facts wrong.

kitty1801

I think what you need are copies of your CIS vouchers to prove your income and tax paid through those employers. You should have been given these originally by the employer to confirm the amount paid on your behalf through CIS.

If you do not have them, you should contact the employer(s) concerned to ask for copies of the information. If that does not work, you will have to write to your tax office to ask for a CIS voucher list for that year. In the letter you will need to state what steps you have already taken to get the information yourself.