Tax querie

[dawnn93]

What do you have to earn before you start paying tax? I want to fix my lawn it's really swampy and want to get it turfed with artificial grass and get drainage do e but its costing £3,700 a lot of money I know I won't be able to claim all of it for expense as I will probably only earn about £9,000 this month due to starting in August this year do you think it might be best to wait until next year? What are your thoughts guys :-)

[bunyip]

:idea:You may need to check the figures in that post.

At £9,000 a month you'll definitely be paying tax by the bucketful. :p

If you mean £9,000 for the period August 2012 - April 2013 (= about £16K per annum?), then I'd expect you to be above the tax threshold for the future. The £9K is just above the personal tax allowance for 2012-13, which is £8,105.00

It also depends what you mean by "earn." Do you mean "gross income" (before deducting expenses) or "net income" (after deducting expenses)?

See HMRC website:
HM Revenue & Customs: Income Tax allowances (http://www.hmrc.gov.uk/rates/it.htm)

:)

edited for spelling

[dawnn93]

Whoops meant to say £9,000 aug to march lol and this before expenses as well but that's just an estimate

[Chatterbox Childcare]

Whoops meant to say £9,000 aug to march lol and this before expenses as well but that's just an estimate

I expect that by the time you take your expenses off you will be below the threshold anyway. I would wait until after April if you can