[windiewasher]

if yo spent 8k more than you earnt in the first year,what sort of rebate should you get?

[mci services]

if yo spent 8k more than you earnt in the first year,what sort of rebate should you get?

didn't you do part of the year paye for an employer, to many variables to answer to be honest but you will not owe anything, well that depends on what you earned paye if anything,

[darren clarke]

u dont get a rebate as such,  do u have any money saved for the tax

[mci services]

u dont get a rebate as such,  do u have any money saved for the tax

I did because I had paid some of the year paye and the final part self employed. but only on the first year,

[darren clarke]

i know what u r saying stu,  but we need to know what his trading year is,  weather he has done other work,  they will ask for some on account,   like u said there is a lot to be takin to consideration for his answer

[windiewasher]

25k paye

[darren clarke]

so u was self employed for the whole tax year apr to mar and u earnt 25 grand  but spent 33

[♠Winp®oClean♠]

if yo spent 8k more than you earnt in the first year,what sort of rebate should you get?

Might be better to speak with an accountant. If you are due no or little rebate on any tax you may have payed from other employment you might be better off writing some expenses down over more than one year. e.g. van or expensive poles etc. Otherwise you'll get NO tax relief on it.

[windiewasher]

Paye paid 25k
Self employed 8k earn nothing

[darren clarke]

how much did ur business spend

[mci services]

the way it works is I am putting my return in for 2009 to 2010 april

so what you earned in  that year is what mattered and how much you spent

[windiewasher]

[quote author=Blue 8k nothing earned

[darren clarke]

ok, so u got 8k worth of receipts or does that inclue what i paid ur self in wages

[♠Winp®oClean♠]

Paye paid 25k
Self employed 8k earn nothing

You should be due something then. still might be worth considering an  accountant though as to best way to use the 8k for tax relief.

[windiewasher]

Yes all reciepts

ok, so u got 8k worth of receipts or does that inclue what i paid ur self in wages

[mci services]

yes but did you spend that 8k between april 2009 to april 2010 and when did you earn the 25k

[darren clarke]

on the 25 k u earnt u would pay approx £6,028,  (inc ni) this is assuming u had tax code 6035L    

on the 8 k  u should pay no tax,  as u will have paid enough tax for what u earnt

as they will take the tax year as earning 33 but the amount that is un taxable is  14k  leaving 19  tax on 19 is just under 6 grand,  u might get a couple of hundred if u are lucky

this is just rough

[windiewasher]

Yes both in that year

yes but did you spend that 8k between april 2009 to april 2010 and when did you earn the 25k

[windiewasher]

on the 25 k u earnt u would pay approx £6,028,  (inc ni) this is assuming u had tax code 6035L    

on the 8 k  u should pay no tax,  as u will have paid enough tax for what u earnt

as they will take the tax year as earning 33 but the amount that is un taxable is  14k  leaving 19  tax on 19 is just under 6 grand,  u might get a couple of hundred if u are lucky

this is just rough

[mci services]

then blue monkey is probably right