Clean It Up

UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: darrenk1q on March 12, 2010, 11:19:55 pm

Title: 21% Tax?
Post by: darrenk1q on March 12, 2010, 11:19:55 pm: Is it that much or am I reading it wrong? :'(
Title: Re: 21% Tax?
Post by: paul rulton on March 12, 2010, 11:21:57 pm: i usually work on about 20%, so u aint far off m8 ;D
Title: Re: 21% Tax?
Post by: ♠Winp®oClean♠ on March 12, 2010, 11:28:21 pm: 20% on profits over 6.5k
+
8% class 4 NI

28% all in. ;)
Title: Re: 21% Tax?
Post by: darrenk1q on March 12, 2010, 11:31:33 pm: Holy p.

Does it matter because I already have a job? Will I have to pay more?
Title: Re: 21% Tax?
Post by: paul rulton on March 12, 2010, 11:33:37 pm: oh yer. its around the 22% fella :( + ni :(
Title: Re: 21% Tax?
Post by: ♠Winp®oClean♠ on March 12, 2010, 11:41:17 pm: When you're "employed" your class 4 NI's 11%

This is my guess-

Because you have a job I assume you earn over 6.5k so you'll get no tax relief on any further profits from window cleaning.

So it'll be 28% on all profits.

I'm no expert mind.
Title: Re: 21% Tax?
Post by: darrenk1q on March 12, 2010, 11:42:17 pm: Might be 11% NI. I hope I got it wrong :)

That's a lot.
Title: Re: 21% Tax?
Post by: darrenk1q on March 12, 2010, 11:43:59 pm: 11% it is then lol

So a grand total of 33%
Title: Re: 21% Tax?
Post by: darrenk1q on March 12, 2010, 11:45:13 pm: Oh I don't know, confused.
Title: Re: 21% Tax?
Post by: paul rulton on March 12, 2010, 11:45:47 pm: Quote from: darrenk1q on March 12, 2010, 11:43:59 pm
11% it is then lol

So a grand total of 33%
33% :'( :'( :'( :'( :'(
Title: Re: 21% Tax?
Post by: darrenk1q on March 12, 2010, 11:51:46 pm: We'll need like 879 houses then to make some money :o
Title: Re: 21% Tax?
Post by: ♠Winp®oClean♠ on March 12, 2010, 11:55:13 pm: If you go fully self employed then it will be 28% on "profits" (not turnover) over 6.5k.

20% tax + 8% NI

There is another, I think class 2 NI but that's only £30-odd quid per quarter.
Title: Re: 21% Tax?
Post by: paul rulton on March 12, 2010, 11:57:47 pm: Quote from: darrenk1q on March 12, 2010, 11:51:46 pm
We'll need like 879 houses then to make some money :o
bloody hell thats about 750 more than ive got :o u will b busy ;D :P
Title: Re: 21% Tax?
Post by: darrenk1q on March 12, 2010, 11:59:46 pm: I'll work my brother till he drops!
Title: Re: 21% Tax?
Post by: paul rulton on March 13, 2010, 12:01:54 am: Quote from: darrenk1q on March 12, 2010, 11:59:46 pm
I'll work my brother till he drops!

LOL ;D ;D
Title: Re: 21% Tax?
Post by: Sean Dyer on March 13, 2010, 12:26:11 pm: Quote from: Winp®oClean on March 12, 2010, 11:41:17 pm
When you're "employed" your class 4 NI's 11%

This is my guess-

Because you have a job I assume you earn over 6.5k so you'll get no tax relief on any further profits from window cleaning.

So it'll be 28% on all profits.

I'm no expert mind.

plus another 40 & over about 37000 dont know the exact limit
Title: Re: 21% Tax?
Post by: Sapphire Window Cleaning on March 13, 2010, 01:10:45 pm: Quote from: darrenk1q on March 12, 2010, 11:51:46 pm
We'll need like 879 houses then to make some money :o

What do you mean?

Matt
Title: Re: 21% Tax?
Post by: daz1977 on March 13, 2010, 01:28:58 pm: whats tax and ni?
Title: Re: 21% Tax?
Post by: Ian101 on March 13, 2010, 02:10:17 pm: someone has to pay for all of the doley's and assylum seekers ... u should be happy to pay all that tax on your hard work and effort.

btw im taking the mick ;D
Title: Re: 21% Tax?
Post by: Central Window Cleaners on March 15, 2010, 02:42:06 pm: 21% to pay all those fair weather doleys to steal all your hard earned work is a bargain surely. :D :D :D
Title: Re: 21% Tax?
Post by: rg1 on March 15, 2010, 03:00:12 pm: Quote from: daz1977 on March 13, 2010, 01:28:58 pm
whats tax and ni?

Something you dont pay if your a polotician. ;)
Title: Re: 21% Tax?
Post by: C.C.W.C on March 15, 2010, 09:14:40 pm: If you think about it our taxes are going to the doleys who then pay us back our own money to clean there windows...
Title: Re: 21% Tax?
Post by: JSMC on March 15, 2010, 09:21:55 pm: what ye all paying on yer NI? mines is 30 odd quid a quarter.
Title: Re: 21% Tax?
Post by: paul rulton on March 15, 2010, 09:28:03 pm: Quote from: JSMC on March 15, 2010, 09:21:55 pm
what ye all paying on yer NI? mines is 30 odd quid a quarter.
same here m8 :)
Title: Re: 21% Tax?
Post by: JSMC on March 15, 2010, 09:48:31 pm: don't see why i should pay more considering i been paying a feckin fortune into it sinc eleaving scholl
Title: Re: 21% Tax?
Post by: ♠Winp®oClean♠ on March 15, 2010, 09:49:24 pm: Quote from: JSMC on March 15, 2010, 09:21:55 pm
what ye all paying on yer NI? mines is 30 odd quid a quarter.

Yeah, that's your class 2

Your class 4 is a stealth tax of 8% on profit over just under 6k.

So, 20% income tax + 8% class 4 NI. that's on top of your £30-odd per quarter, car tax, insurance premium tax, council tax, vat on purchases etc. etc.

Warning to newbies- get your pricing right!! Happy days. ;D