gus

iTrader: (1)

what do you guys pay


i have just gone from being self employed to on the cards

and i cant get my head round hor much i just paid
just shy of 80 quid

seems like alot to me

would this be like emergency tax? please tell me it will go down

Fil

guessing £80 is weekly?

im in for £260 every 4 weeks, about time i had a claim and got my moneys worth!

fuzzy

national insurance is £2.30 a week and tax is 20% of earnings.
edit to say ive just reread your OP and i have it the wrong way around.
on the books it used to be about 26-27% of your earnings deducted for tax and NI.

gus

iTrader: (1)

this what i use to pay

hence my shock

Psycho Warren

iTrader: (5)

I pay no NI and no tax on my "earnings"

PAYE Income tax and NI calculator:
http://www.ir35calc.co.uk/PAYE_NI_Ne...alculator.aspx

Most people on a single income should be on tax code 603L. If youve got a second income chances are your personal allowance will be taken up by first job so you will have a second tax code to tax the whole 2nd income.

Psycho Warren

iTrader: (5)

You only on part time hours???? that back calculates at £6550 a year Gross.

stevenebm

iTrader: (6)

i pay 250 a month n.i and about 500-600 a month tax

Psycho Warren

iTrader: (5)

That back caculates to £75k PA gross

The emergency tax code is 603L which is same as the normal basic personal allowance tax code.

You in reciept of a pension or something??? or other income???

gus

iTrader: (1)

no other income


just me day job

fuzzy

no, i read the O/P wrong, thats self employed rates of NI. £2.30 a week regardless of how much you earn. i average about £32000 a year earnings as a joiner. 20% tax paid on your profits so by the time my years expences are offset against my earnings i usually get £1100ish back as a tax rebate as well.

rst in breaking

iTrader: (2)

this is why i dont really want to go paye again, use to get crucified on ni and now is £2.30 its great, just need to try and keep work through these hard times

Psycho Warren

iTrader: (5)

but surely only paying class 2 NI's fucks you up if you loose your business??? or become sick? Or do you have other insurances and a private pension to make up for it??

dovboy

gus,what happens with your tax return now you have went on the books?

interested as the company we are working for want us to go on the books maybee.

gus

iTrader: (1)

not sure to be honest

been self employed for years

guess just do my self assesment as per but only up to week 42 (or whatever we are on now)