Recent content by moneybaker

  1. M

    Personal Allowance and NIC Class 4 Thresh hold

    Hi, it states that in tax year 2016 to 2017 your taxed on profits after £11,000. It also mentions that NIC Class 4 is charged at profit limit of £8,060 at 9%. My question is: Is the £8060 profit limit (for NIC Class 4) after £11,000 personal allowance? So for me to pay any NIC Class 4 (at 9%) I...
  2. M

    working tax credit

    Ok, it is only net profit i need to report to tax credits thanks kind regards
  3. M

    working tax credit

    So if Bill made £15,000 in 2013 and took out £2000 for expenses then £13,000 is his taxable income and this the figure tax credits only needs to know?? Kind regards
  4. M

    working tax credit

    Hi, what income figure will hmrc need for working tax credits? I know its before tax is taking out of the profit but what about before Expenses too? Will i just need to tell them the net profit before tax? Or before tax and expenses giving the whole total for the final year? kind regards
  5. M

    Allowable Expense

    Hi, i accrued expenses when renovating and kitting out an empty shop i had rented. Are the below allowable expenses that i can put down in my tax return? If not what would they come under? Capital Gains Tax? Partition wall including labor cost Painting and labor costs Large mirrors Barber...
  6. M

    Goverment gateway account

    So HMRC get 3 different submissions of self assessment from the 3 different accounts?
  7. M

    Few Things Need Clearing Up Thanks

    Self Employed and Sole Trader are both the same thing? If Sole traders employ people and pay workers national insurance and any tax do they have to register as an organisation? The only time you register as an orginisation is if you operate as a company? A company is when you don't own your...
  8. M

    Goverment gateway account

    Are you classed as a sole trader? Thanks
  9. M

    translation

    So you would only register as an organization if you represent an employer etc?
  10. M

    Goverment gateway account

    So that would be a good way of defining a sole trader The Only Person In The Business?? So its perfectly ok to have a sole traders government gateway account and submit your tax returns from there and at the same time have an organisations government gateway account to be able to advertise a job?
  11. M

    Goverment gateway account

    the thing that is confusing me is the registering as an organization as i assume that you do this if you have someone on a payroll? Register as an ‘Organisation’ if you represent a business (including employers, sole traders and farming organisations), a charity, or other commercial or...
  12. M

    Goverment gateway account

    So what your saying is that if i register as an organization on the government gateway website i can still file a tax return using my sole trading government gateway account? as i would have 2 government gateway accounts one under sole trader and the other under organisation .
  13. M

    translation

    Hi, what does it mean by representing a business? and where it says including employers, sole traders they are only talking about representation and not if your an employer or a sole tarder register as an organization? Thanks Register as an ‘Organisation if you represent a business (including...
  14. M

    Goverment gateway account

    So i'm self employed yet i cant advertise a job vacancy in the job centre unless i register as an organization on the government gateway website. If i registered as an organization just so i can advertise a job in the job centre would that not conflict with my status as being self employed?
  15. M

    Goverment gateway account

    So i guess im self employed and not an LTD? thanks
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