View Full Version : FIRST YEAR TAX
Hi, On your first year did anyone recieve any money back on your tax???
The reason I'm asking is my hubby was self employed a few years ago as a roofer and on his first year as self-employed he received just over £2000 back then after that he didn't pay or paid very little.
sarah707
19-07-2008, 07:00 AM
You only receive money back if you pay it ... in whatever job you are working.
So if you've been in full time work for a company, for example, then you move to self employment and you earn under the annual threshold for the 2 jobs combined or you've paid too much tax as an employee you might be due a refund.
Otherwise it's whatever you put through your books over the threshold that you get taxed on ...
Hope this make sense :D
singlewiththree
20-07-2008, 11:14 AM
What is the threshold for tax Sarah?
I'm only planning on working part time but it might be better me working more hours if I can claim some of the costs back?
sarah707
20-07-2008, 03:00 PM
The latest figures are here -
http://www.hmrc.gov.uk/rates/it.htm