What would you expect the tax to be on 27,845?

[LaurieFairyCake]

I'm confused

My tax (self employed) is coming out at £9,911

Is that about right?

Plus 4K of payments on account

Do you have a main job or is this income your main income?

You get approx 12k tax free allowance so you'd only pay 20% of the remaining figure.

To my mind 9k looks well off the mark.

that seems high - see here

www.hmrc.gov.uk/tools/sa-ready-reckoner/results-eng.htm?money=2320&tickdPeriod=monthly

You can check it on here: www.thesalarycalculator.co.uk/salary.php

Unless it's a second job or you owe tax back or are on an emergency code it looks wrong to me.

Gloat post, not helpful to you at all sorry.

My tax allowance is more than that so I wouldn't pay any. 9k sounds a huge amount to me

Should be more like £3000 surely?

No, only job and I do simple self employed tax

So there is the income, then the deductions and then left with £27,845 to pay tax on

I did think it looked higher than before

How is it a gloat post, it looks pretty modest compared to 99% of what most MN claim to earn!

Definitely way too high. Somewhere along the line you've put the wrong figure(s) in a box(es). Have you duplicated the income somehow or missed off some expenses?

You'll be able to view/print a tax calculation, so do that and see how the figures look. Post them on here.

Tax/NIC on £27,845 is just under £5,000.

That's far too high. I agree with a PP - you've entered the wrong figures somewhere.

Your tax should be £3069 (£27845 - £12500 personal allowance x 20%.
Your class 4 NI would be £1729 (£27845 - £8632 lower profits limit x 9%).
Your class 2 NI would be £156 (£3 x 52 weeks).
So a total of £4954 altogether, plus £2500ish payments on account.

Where are you inputting your figures that is showing the £9k tax due?

The taxable income is £15,345.00
Tax is £ 3,069.00
NI is £ 2,305.56 (but this is for an employed person, not self-employed)

This is 2019-20 on the Salary Calculator.

@SchoolNightWine has it.

@LaurieFairyCake

No, only job and I do simple self employed tax

So there is the income, then the deductions and then left with £27,845 to pay tax on

I did think it looked higher than before

So 27,845 is after you have deducted your personal allowance?

I have just logged back in again

I took photos on my camera of my submitted return and summary EARLIER

I then filled in the 'reduce payments' direct debit form

I've logged back in and gone through my return, changed NOTHING - filed it again and it now says I owe £5360

Made up of £4960 tax and £400 on account

It's literally different than two hours ago (and I have both photographs) and all I've done is reduce the payments on the direct debit

You don't deduct your personal allowance - they do that for you

I earned about £48k - took off £19k of deductions (rent/bills/expenses)

Left me with £27k to pay tax on

@LaurieFairyCake

You don't deduct your personal allowance - they do that for you

I earned about £48k - took off £19k of deductions (rent/bills/expenses)

Left me with £27k to pay tax on

Your op was misleading, people thought that was your income.

Tax return from earlier and now

Yes I assumed your income was £27k. If that is what you pay tax and NI on then £9k seems about right as you will pay some 20% tax and some at higher rate (I think above £42k(ish) and NI

TMIncoming

I've been perfectly clear. I'm trying to work out the tax on £27,845 (which is my income)

I don't get £48k. That's the turnover. I rent an office and have deductions of £19k.

Are you also paying some in advance for the next 6months? That's what Stung me last January

The revised figures are correct per @SchoolNightWine 's calcullation but that doesn't explain why the first ones were wrong

Probably just a glitch on the tax return computer, all OK now so I'd file and move on

I also think SchoolNightWine is right

It means I've overpaid and the calculation isn't right - I was paying up til February this year (including the On Account payments) and I think I've already paid about £4K

I stopped when Covid hit and then delayed my tax return as HMRC asked people to - so it's now due in by January

@LaurieFairyCake

I also think SchoolNightWine is right

It means I've overpaid and the calculation isn't right - I was paying up til February this year (including the On Account payments) and I think I've already paid about £4K

I stopped when Covid hit and then delayed my tax return as HMRC asked people to - so it's now due in by January

I'm interested in when HMRC asked people to delay their tax returns,my Dsis has had some trouble with them about submiting her return, I know she'd like to have details of that, I can't find anything via google

Is it accounting for all the expenses when it goes through the calculation?

If it was missing the expenses for some reason then 48-12 personal allowance = 36 x 0.2 = about £7k in tax and then some NI which would make your £9k.

Have you gone through the full calculation? - it might be in the view/print/save link on your screen.