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Tax question

Started by Pete, March 23, 2007, 21:22:59 PM

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Pete

Between last April and August I earnt around £14,000 gross, on that I paid:

£1000 Employers NI
£700 Employees NI
£1300 Tax

Does employers NI work the same way as tax and employees NI when it comes to tax rebates?

I was taxed/NId to death on the above job of £600-£1200pw but the years average for me is probably nearer £300pw cos I took a 3 month break from work n got a sh*t job now, so anyway the IR owe me loads of money but I wanna work out how much.


EDit: I got the wrong end of the stick here, nevermind.
I know sh*ts bad right now with all that starving bullsh*t and the dust storms and we are running out of french fries and burrito coverings.

Sam

Err how did YOU pay employers NI ?

Pete

Contractor

& my question is daft I think.
I know sh*ts bad right now with all that starving bullsh*t and the dust storms and we are running out of french fries and burrito coverings.

Eggtastico

Do you use an umbrella company or are you your own LTD company?
Assuming your under an Umbrella then

Wage - Expenses = whats left
whats left - Employers NI = Wage
wage - Tax - Employees NI + Expenses = Take home Pay

Serious

Quote from: sdpContractor

& my question is daft I think.

You need the actual accurate figures to work it out, your second company ought to have taken into account the tax paid by the first and you should get any overpayment back as a matter of course anyway.

Pete

I always get really confused about tax rebates.


Say my tax free allowance is £x per year,

per week that is £x/52, which is how I think they work it out.

But really it should have been £x/30, which is how long Ive worked this tax year, so will I get something back?

I know sh*ts bad right now with all that starving bullsh*t and the dust storms and we are running out of french fries and burrito coverings.

Sam

your tax allowance is per year, its not weekly at all.

Add up your salary last tax year and work out how much tax you should have paid after the appropriate allowances.

Pete

I think my brain is melting. The payslips are really confusing cos theyre full of figures and dont spell anything out.


wtf

I lost a few payslips I think.


Expenses should be tax free so I ignore those, CHR expenses are tax deductable, which means they go on my allowance right? My job now doesnt come into it cos Im on BR anyhow.

So, Ive paid too much I reckon, i-resign.com says tax on 10891 should have been £1,000 ...except that doesnt take CHR Exs into account.  :?


I know sh*ts bad right now with all that starving bullsh*t and the dust storms and we are running out of french fries and burrito coverings.

Serious

sdp is getting confused over PAYE where you do pay tax weekly or monthly.

sdp, just do as Sam says, add up your wages and use yearly as if you were self employed and payinh all the tax for the year in a lump sum, it works out the same.

You dont need all your pay slips, just the last ones giving total wages paid.