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CM CLUB: Quicky about income & tax credits

7 replies

PinkChick · 12/01/2010 10:34

Hi everyone, S/A done..which amount to i give the tax credits people for our working tax?...the amount left after ive taken all my expenses off? the amount left after ive also taken off my personal allowance? do i also need to take off the amount that tax ive paid?..confused dot com LOL.x

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Katymac · 12/01/2010 11:28

After expenses, personal allowance & tax but say it is your net amount

If they want your gross it is after personal allowance & expenses

onadayliketoday · 12/01/2010 12:01

It's Katymac's answer which is right. They want to know all taxable income. I receive Bereavement Benefit so have to declare that too. So if you get any taxable benefits you have to add those on. Basically it's the same figure you give to HMRC.

onadayliketoday · 12/01/2010 12:04

Sorry, I should have said it's Katymac's first answer, but then don't take off the tax. As mentioned, it's your taxable income they want.

PinkChick · 12/01/2010 12:17

ok so its 7214 after all my expenses, i havent taken PA or NI4 off this, is the 7214 figure the figure i give them..i paid £378 tax & NI4 ? TIA

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Katymac · 12/01/2010 12:32

Ignore me I'm crap

It is the total less expenses which is your profit - so your GROSS

total less expenses & tax is your NET

Your PA is irrelevant - sorry

Katymac · 12/01/2010 12:49

Your GROSS is 7214
Your Net is 6836

hth

PinkChick · 12/01/2010 13:24

thanks katy

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