Tax and paying
Thanks Thanks:  0
Likes Likes:  1
Dislikes Dislikes:  0
Results 1 to 2 of 2

Thread: Tax and paying

  1. #1
    Join Date
    Jul 2011
    Posts
    157
    Registered Childminder since
    Feb 12
    Latest Inspection Grade
    Good
    Post Thanks / Like

    Default Tax and paying

    I have had until I submit my 2016/17 tax return a rough estimate I assume based from last years earnings of how much I have to pay HMRC this January and July.
    My childminding income has reduce significantly and although I am able to give them the £1000 for tax due for January, I am not making enough now to even cover putting away £200 a mth to cover July
    Has anyone ever been in this situation
    Should I call HMRC to explain this?

  2. #2
    Join Date
    Feb 2008
    Location
    Teetering....
    Posts
    4,079
    Registered Childminder since
    Apr 01
    Post Thanks / Like
    Blog Entries
    1

    Default

    Quote Originally Posted by Kittycat View Post
    I have had until I submit my 2016/17 tax return a rough estimate I assume based from last years earnings of how much I have to pay HMRC this January and July.
    My childminding income has reduce significantly and although I am able to give them the £1000 for tax due for January, I am not making enough now to even cover putting away £200 a mth to cover July
    Has anyone ever been in this situation
    Should I call HMRC to explain this?
    Yes definitely speak to them, there is a section on the return that you can apply to have the payment on account set aside and one of the reasons is a reduction in income. Last January I managed to make the payment on account for January but was struggling to put money away for July so I submitted in April and because my earnings were less I didn't have to make that payment on account and I only have £13 to pay by the end of January xx

    It is a 'Payment on Account' for the tax for next year which comes into affect if you owe more than £1000 tax and NI in a tax year - the two payments are each half of the tax and NI paid for the year submitted. x
    Last edited by tulip0803; 05-12-2016 at 11:59 AM.

  3. Likes sarah707 liked this post
 

 

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Quick Links and Advertisements

Important Information Links
Some Useful Quick Links
Advertisements

 

You can also find us on:
Tax and paying Tax and paying Tax and paying

We use cookies to make this site as useful as possible. They are small text files placed in your browser to track usage of our site but they don’t tell us who you are.
By continuing to use this site you are consenting to cookies being placed on your computer. Find out more here: Cookies in Use

Childminding Help and the Childminding Forum are part of Childcare.co.uk