skippy41 wrote:
wannabeeahack wrote:
Mine was low, higher fuel, a few too many repairs, less trade, increased personal allowances = shame....
How the hell you get an increased personal allowance it has not gone up the grand yet, has it???
Well I think it has actually.
The tax you'll be paying this month and in July is for the year when the personal allowance went up a grand.
However, if you're like me and a bit behind with preparing your accounts then what you pay will be based on the tax liability for the previous year, thus it's just an estimate - by next January you'll have worked out the precise amount you're due this year and next January's payment will be adjusted accordingly.
If my accounts were up to date then I'd be paying tax this year on what I'm actually due rather than an estimate based on last year's figures.
Of course, it all depends on your year end and how long it actually takes you to do your books and complete your tax return.
I could actually have the tax return due in next January in now if I was up to speed
But too busy doing more important things like posting on here at 3am
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