Tax Bill Seems To High?
Posted: Wed Jan 11, 2017 12:44 pm
Hi I need some advice?
I'm full time employed but I run a small business on the side and have just submitted my tax return for 15/16.
My net profit was £2196.00 but my tax payment due by 31st is £767.40
This seems way to high, I thought I don't pay any tax up to £11,000?
Can you please advise if this is correct and what I need to do if its not?
Thanks
I'm full time employed but I run a small business on the side and have just submitted my tax return for 15/16.
My net profit was £2196.00 but my tax payment due by 31st is £767.40
This seems way to high, I thought I don't pay any tax up to £11,000?
Can you please advise if this is correct and what I need to do if its not?
Thanks