Paying the dreaded taxman?

[sWe]

I have an accounting business too...........

The dots says it all :rofl:

 

[smurf21]

18% if your cis 20% if your UTR plus NI and dont forget to put about 42% away for *^&%$£" Fuel. lol

 

[Dean_T]

So does that mean i dont have to pay tax on anything i earn this year? Sorry just a little confused

Cheers
Dean

 

[grumpygrouter]

So does that mean i dont have to pay tax on anything i earn this year? Sorry just a little confused

Cheers
Dean

Not exactly Dean, you will pay tax on all your earnings, it is just a timing thing. The first 2 or 3 years can be a bit confusing but after that it is straight forward.

You may be wise to get an appointment with an accountant or a tax adviser than can show you how it works. It is a little difficult to explain in an area like this.

 

[grumpygrouter]

18% if your cis 20% if your UTR plus NI and dont forget to put about 42% away for *^&%$£" Fuel. lol

CIS is now 20% for registered subbies and 30% if not registered.