Confused

[cher25]

Hi, I've kept allmost all of my reciepts since i started working in october. Havent yet filled in tax return but only made £538 last tax year. However i kept forgetting to put into ncma tax book. Have just done so now, not that any of it makes a big difference.
Im yet to write down all of this years so far, but i have worked out what i have made and taken rough expenses away so far and have worked out what i should make by next april if i only have the 3 children i currently have before expenses. Ive decided to start now to put away money for tax just incase is it 20% per pound that needs put away? That would be 20p and £20 for every hundred? Am i right? It's all got my head done in. But then that would make what i have now that hasnt already been spent on the kids, my own money doesnt it? Sorry if i've gone and confused anyone on this aswell. Math's is so no my strong point.
Cher

[Chatterbox Childcare]

Hi

Yes you are correct at .20p in the £1. Do you have a full list of expenses as the tax office expect the first year to be a loss and I haven't paid tax on anything under £15000 in the past.

There are a lot of good lists on the forum if you search and they will help reduce the bill.