Recent content by Brasstrumpet

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    Tax return submission query

    Thanks. Will this automatically go onto my national insurance history?
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    Tax return submission query

    I’m just submitting my tax return for the 24-25 year. I've noticed this year because my profit is less than £12750 but more than £6845, I do not need to pay any national insurance. Is this correct? I normally pay both class 2 and class 4. My profits are down this tax year so I don’t need to pay...
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    Class 2 NIC query

    Thankyou for your advice. I’ll certainly look more into this.
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    Class 2 NIC query

    Thankyou. Yes I've now claimed the trading allowance rather than expenses. I am a gardener, apart from gloves and a few hand tools I rarely need anything else. I am aware I can claim fuel and various other things but I find it quite confusing to determine what I should and shouldn't claim so I...
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    Class 2 NIC query

    Yes that's correct. For the 23-24 tax year if profits are over £12570 (which mine are) I am required to pay class 2 NIC. But it was still showing my Class 2 NIC owed is £0. I discovered I had to click a link to confirm my self employed status. Once I had confirmed this I pressed the...
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    Class 2 NIC query

    I was under the impression trading allowance is only for gross income under £1000? I am £14356
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    Changes to National insurance class 2 help

    *self assessment help* Not sure if any could advise but here goes… Currently doing my 2023 - 2024 tax return. I’m over the £12570 profit threshold so have to pay class 2 national insurance, or at least it thought I did, but the computer is saying I have £0 to pay for class 2 national...
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    Class 2 NIC query

    I'm completing my self assessment for 23-24. I work as a sole trader part time. My total income for the year was £14320 and my expenses were £240 So my total taxable income is £14080 I always pay class 2 NIC contributions for my state pension. This time, it is saying my tax bill is around...
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    Paying for expenses- sole trader

    On a couple of occasions I’ve purchased items for my business using my personal account. I have two bank accounts. One is for everything related to my business so all income goes into this account and when I purchase items for work I pay with the card from this account so everything is kept...
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    Part time sole trader

    Thanks. Yes only income. I’m paying class 2 NIC (£163) I didn’t pay any payment on account
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    Part time sole trader

    Thankyou. Does £960 tax bill sound about right for £15k income
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    Part time sole trader

    I’m a part time sole trader, I’ve completed my tax return for 2022 - 2023. my income after expenses was just over 15k. my total bill has come to around £950 tax/ national insurance to pay. I’m confused because it says I owe this amount but my “payments on account” is £0.00 so I don’t need to...
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    Self employed gardener

    Yes I have an isa which I put the rest of my monthly earnings into after I have transferred what I need every month to my personal account for bills etc. i always make sure I have some kept a side for a rainy day and the tax bill at the end of the year. I produce paper invoices for every job I...
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    Self employed gardener

    I’m a self employed gardener. I do my own tax return, I keep it simple so I don’t claim for fuel etc. is this ok to do? I dont have many expenses but have recently bought a new strimmed and hedge cutter. Can I just put this through as a business expense on my next tax return. The total amount...
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    underpaid tax included in paye coding?

    Just completing my tax return for 2021 -2022. one of the last questions is - Our records show that your 2021 to 2022 PAYE Notice of Coding includes an adjustment for tax underpaid. Amount of estimated underpaid tax for 6 April 2021 to 5 April 2022 to be included in your PAYE tax code for 6 April...
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