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Tax Self Assesment Help - Please



chucky1973

New member
Nov 3, 2010
8,829
Crawley
Are there any Tax men amongst the NSC family that could possibly answer a question about my Tax Return. Ideally on my side of the fence and not the tax mans!! I would like to PM a question with some figures to clarify something as I am unsure what right.

thanks
 








BigGully

Well-known member
Sep 8, 2006
7,139
Without divulging personal stuff, why not ask an open question that when answered might offer others some benefit ...........................
 




chucky1973

New member
Nov 3, 2010
8,829
Crawley
give me a clue about the subject matter

was self employed under the CIS TAX scheme from April 5th - June 30th 2014. I paid tax at 20% Then went back to PAYE with a contractor. I have gone over the threshold and have been told I need to pay an additional 20% tax on the monies I earnt as a subbie?
 




HantsSeagull

Well-known member
Aug 17, 2011
4,016
Caught in a Riptide
was self employed under the CIS TAX scheme from April 5th - June 30th 2014. I paid tax at 20% Then went back to PAYE with a contractor. I have gone over the threshold and have been told I need to pay an additional 20% tax on the monies I earnt as a subbie?

nah sorry - beyond the scope of my amateur tax advice I am afraid
 






NooBHA

Well-known member
Jan 13, 2015
8,584
was self employed under the CIS TAX scheme from April 5th - June 30th 2014. I paid tax at 20% Then went back to PAYE with a contractor. I have gone over the threshold and have been told I need to pay an additional 20% tax on the monies I earnt as a subbie?


Unlikely to be correct unless you broke the HR Tax Thresholds and are a 40% Taxpayer.

Even then, for the period you were a sub contractor then that would be Schedule D income so I would imagine you have some tax deductible expenses which you should have been able to claim against that income.

And finally, if your employment income did take you into the HR thresholds, did you remember to claim a part Exception to Class 4 NIC because if you broke the Higher Limits of Class 1 NIC then your Scedule D Earnings would only be subject to 2% NIC and not 9% class 4 NIC.

There are so many variables of what mat have gone wrong and you do not say whether you completed a tax return or not or whether HMRC have simply treated the CIS earnings as an employment source
 



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