My earnings are :-
1st job- 35 hours per week- £14000 per annum
2nd job- 30 hours per week- £11000 per annum
3rd job- self employed- £11000 per annum
How much tax am i paying?? what about tax paid due to being self employed?
Please help. Thanks.
2007-12-02 05:31:21 · 4 answers · asked by wonderful 1 in Business & Finance ➔ Taxes ➔ United Kingdom
Your total Tax will be exactly the same as some-one with a single job earning £36,000 pa.
NB> I'm assuming that the self-employed earnings are after all allowances etc.
2007-12-02 06:20:45 · answer #1 · answered by Steve B 7 · 0⤊ 0⤋
Regardless of the tax position, the self employed earnings will also attract Class 4 NIC of £462. The Schedule D tax will all be at 22% (£2420).
The Schedule E tax will be £4082.90.
2007-12-03 12:57:29 · answer #2 · answered by Do not trust low score answerers 7 · 0⤊ 0⤋
If you Google PAYE deductions UK, there is a choice of sites, supplied by accountants. If you choose one, and imput your figures it will give you the sums. You may not find one that gives you the National Insurance Contributions on your self-employment.
Current tax rates and bands: Personal Allowance £5225. So you will pay tax on £30775, 10% on the first £2230 (£223.00), 22% on the next £28545.(£6279.90) Total tax due £6502.90.
2007-12-02 15:15:48 · answer #3 · answered by steffi 7 · 0⤊ 0⤋
It depends on your tax code. Ring your local tax office in the morning, or have a rummage on hmrc.gov.uk
2007-12-02 13:53:57 · answer #4 · answered by Anonymous · 0⤊ 1⤋