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lor


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tax credits again! (self employed)
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Sorry girls and guys,

 

Just to be sure on this form where it says income amount for period, they do mean the total income figure, i.e. just income.

 

EG Income 20,000, expenses 5,000, therefore it would be correct to declare 20,000 as the income amount as per tax return and accounts.

 

Many thanks

Lor



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lor


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does anyone know the answer, as I want to be sure, first time I have seen this form.

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Bethan82


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The income would just be what has been earned either by direct employment or self employment (Plus any savings interest!) Tax Credits is not a taxable benefit neither is it employment income, it is not taken into account in PAYE therefore it would not need to be included on a Self assessment

I believe it would Be correct to just put the 20,000 income.

Although I have filled in this forms for my family members, I am not yet up and practicing so someone please feel free to correct me if I'm wrong :)

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Princess


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I think that's right too. From what I remember, there are notes accompanying it which explain how to work out self employed income.

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