CM Club - Help me work out how much to save for TAX - pretty please :-)

[looneytune]

Me again

I've been childminding just over 2 years and so far only done one tax return and I didn't have to pay tax.

As I'm earning more now, I really need to be putting some money aside each month to cover the tax bill.

No idea where to start? Anyone able to give me rough percentage or something? ANY advice would be great

If we go over the earnings threshold, what percentage of tax do we pay? That way you could do a rough calcualtion of how much yyou expect to earn, and save a percentsge of your earnings each month until april.

I am in same situation as you LT, two years in, not had a tax bill yet. Although I plan to carry on spending plenty on expenses as would rather the kids benefit than the tax man, this is easily done in my situation though as I earn very little!

Yeah, I feel the same but I think with my earnings as they are now, I may have to pay anyway. Unless I get very clever and work out exactly what I need to spend in order to just get by without paying

Still no idea about percentages and as was up to eyes in paperwork, thought I'd cheat and see if anyone can answer for me, otherwise I'll look later