Any advice appreciated

Any advice appreciated

Postby strawberry on Mon Nov 14, 2011 1:34 pm

I am a tax ignoramous trying to fill in my first tax return. I apologise for what are no doubt ridiculously stupid questions but I'm totally confused and need to start somewhere!

I was employed for 6 days of the 2010-2011 tax year then unemployed for 6.5 months during which time I claimed 4 weeks of job seekers allowance. I was then self-employed for 9 months until July 2011 and I am now unemployed again.

During my self-employment I was getting a salary and payment for business milage in my own car only. No other out goings.

Here are my questions:
1) I'm confused about the drop box 'have I made any income tax losses for the year 2010 to 2011?' Does this apply to me?
2) Where on the form do I put the milage expenses? Do these go in with the salary as my total profit?
3) Am I eligable for class 4 NI contributions? Haven't got a clue. I've been paying the class 2s so far...what are class 4?
4) How do I indicate on this tax return that I am no longer self employed in the year 2011-2012. Can I get some sort of reduction on my bill?

Any help appreciated!
strawberry
 
Posts: 3
Joined: Mon Nov 14, 2011 12:11 pm

Re: Any advice appreciated

Postby pawncob on Mon Nov 14, 2011 1:45 pm

No you haven't mad any income tax losses. ignore it.
Are you claiming mileage expenses or declaring amounts received as part of your income?
Can't advise on Class 4 position without knowing income levels, but they're payable on Self Employed income over £5715 (2010/11) at 8%.
You indicate that you're no longer S/E by completing Box 7 on the SA103F or Box 6 on SA103S.
With a pinch of salt take what I say, but don't exceed your RDA
pawncob
 
Posts: 2262
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Any advice appreciated

Postby strawberry on Mon Nov 14, 2011 4:17 pm

Thanks pawncob! Now I can make headway on this thing!

The milage expenses were part of my income i.e. I submitted my business miles to the company in my invoice and they paid me 47p per mile. I'm thinking I still get taxed on this because it is over the 40p approved milage rate and therefore it goes in my turnover...
strawberry
 
Posts: 3
Joined: Mon Nov 14, 2011 12:11 pm

Re: Any advice appreciated

Postby nikkisizer on Tue Nov 15, 2011 10:40 am

Hi strawberry,

Just in case you were not aware, you need to make sure that when you complete your tax return you also complete the required additional schedules for employment and self employment.

Kind regards
nikkisizer
 
Posts: 69
Joined: Fri Nov 04, 2011 5:26 pm


Return to General

Dorifor Internet Marketing Dorifor Tax Group - our portfolio of tax sites:

UK's largest independent tax portal All the tax books on one site global tax seminars, conferences and other events Global tax jobs portal List of UK recruitment agencies and employers