How much tax will i pay roughly on £3000 income?

[Jelly Baby]

Some is my employed job and some childminding not sure after all of it is split up and bits taken off what is what but i think thats the rough figure i have left to be taxed on (will know later when i do properly later) but just wondered if anyone had a rough figure of the amount ide have to pay?
Thanks x

[cuddlybunny38]

as far as I am aware you wont have to pay tax, the limit is in the £6000, not sure of exact figure someone will be along to let you know, but anything under that figure then you dont pay tax, but you mau need to pay national insurance. I pay class 4 I think it is .

[mama2three]

The total income between your employment and childminding can be up to £6475 before you pay tax x

[Straws]

If you have a part time employed job you may have already paid tax on that, so will only be tax on profit from your childminding job.

Straws

[Mykidsrock]

Check on your payslips from your other job what your tax code is (mine for instance is 645) you then add a 0 to it and that is how much you can earn before you pay tax so in my case 6450.

HTH x

[sillysausage]

I am going to assume that £3000 is the amount that you have worked out is your profit after you have deducted expenses and any remaining tax allowance, in which case I would expect to pay around £700 in tax and class 4 national insurance.

an approximation can be worked out from

(Gross employed wages + childminding income) - £6450 = profit (the amount you need to pay tax on)

then.... tax (20% of the profit) + class 4 national insurance (8% of your profit) gives you your total tax/NI liability

from that you can deduct the amount of tax and national insurance you have paid through PAYE, leaving the remainder to pay by 31st Jan. It will have spaces to input your PAYE wages and how much tax etc you've paid already.

If in doubt start filling in your online tax forms. You can save it as you go along and amend it as many times as you want before you finally submit it. It will tell you how much you will have to pay.

[Jelly Baby]

Thanks ladies. Did my return last night and it was about half what i had in my head so very pleased..all paid and done for now.