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| Earning related question. http://www.taxi-driver.co.uk/phpBB2/viewtopic.php?f=1&t=26462 |
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| Author: | westgatelad [ Wed Mar 18, 2015 7:35 pm ] |
| Post subject: | Earning related question. |
So say I have been earning £99 per week (just as an example) before commencing self employment as a PH driver. My earnings so far this year from this new employment in this tax year would obviously be below the threshhold of 10k due to the minimal wages prior. Does this come into consideration at the end of the tax year? Or not? I am just still getting a grasp of how it works. PS. Luckily the threshold has increased from 10k to 11k per year on non taxable earnings. So next year I might just scrape by. |
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| Author: | roythebus [ Wed Mar 18, 2015 9:12 pm ] |
| Post subject: | Re: Earning related question. |
The current tax year includes all earnings this year. If you're on low earnings, apply for Working Tax Credit. |
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| Author: | grandad [ Wed Mar 18, 2015 9:35 pm ] |
| Post subject: | Re: Earning related question. |
westgatelad wrote: PS. Luckily the threshold has increased from 10k to 11k per year on non taxable earnings. So next year I might just scrape by. The threshold for 2014/15 is £10,000. The threshold for 2015/16 is £10,600. The threshold for 2016/17 is £10,800 and the threshold for 2017/18 is £11,000. These thresholds are the amount that you can earn before paying income tax. Not non taxable earnings. Don't forget that these thresholds are just for tax. the threshold for national insurance is lower. |
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| Author: | wannabeeahack [ Wed Mar 18, 2015 11:19 pm ] |
| Post subject: | Re: Earning related question. |
http://www.incometaxcalculator.org.uk/ http://www.thesalarycalculator.co.uk/salary.php https://www.gov.uk/personal-tax/income-tax http://www.which.co.uk/money/tax/guides ... nce-rates/ https://www.gov.uk/income-tax-rates/cur ... allowances https://www.gov.uk/married-couples-allowance |
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