Quote:
Originally posted by Jon
I may be wrong here, but I thought Jason was refering to the fact that he has to pay his tax bill. This would mean he is self employed and not on P.A.Y.E. That would also be the first part of it, the second part due in July. Its not the amount, its the time of year and the fact that you could have had a fantastic year last year. Then go and have a crummy year this year.
But unlike those on P.A.Y.E. He has got to pay his tax plus 50% more based on predicted profits. (based on last years accounts). So you see, he ends up paying the taxman in advance of his earnings. |
Sorry Jon, no I'm a permie so on PAYE. Just that a while back I got a redundancy pay-out (I took em to the cleaners!) that as it happens had only basic rate tax deducted. It was only in my last tax return that I realised, thus the big bill.
12-Feb-2005, 22:38 
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