Tax rebate !!!!!!!!!!!!!!!

[gibbon]

This rebate thread has got me confused? I leave my books to my missis and the accountant so am no expert. I can't work out how guys can get a rebate though. Are you CIS? If you don't pay any tax till the end of the year hoawcan you get back tax which you have yet to pay?

[Kev Stephenson]

My rebate has come about as I was running the business part time whilst in full time PAYE employment, I have therefore paid £x,000 in tax through PAYE. I managed to spend (or be able to write off in depreciation) more than I earned on the trees within the financial year due to a number of factors. I can therefore claim back some of the tax I have paid.

 

Surely it isn't possible to claim back tax you haven't paid in the first place?

 

My accountant doesn't charge me much but certainly earns her money.

Edited January 25, 2009 by Kev Stephenson

[Johny Walker]

This rebate thread has got me confused? I leave my books to my missis and the accountant so am no expert. I can't work out how guys can get a rebate though. Are you CIS? If you don't pay any tax till the end of the year hoawcan you get back tax which you have yet to pay?

 

this is a rebate from 05 on cis ticket that a builder was a bit slow in forwarding to us, becaose he hadnt paid it still

[gibbon]

Ahh. It all becomes clear

[Stephen Blair]

Ahh. It all becomes clear

 

I knew i wasnt paying tax just now, the same way i knew last year i wasnt paying tax, and the year before that i knew i was paying 10 k.

 

if you know what your spending allowance is on what your earnings are then you are fine, the tax you are paying or not paying now is for year end 07 not 08. well mine is anyway. in march i will know what my last years profits were, i will know what my tax will be but i will also know if it is time to spend some more on the right kit, if you would rather look at money in the bank, pay as much tax as you should if you would rather have your money in kit, then buy kit, or invest your money in other ways. But thats the accountants job.

[sylvestris stew]

A lot of my work is paye, so the self employed bit is about 40% of my income so I make sure the expenditure on that side is high.

The way things have been though it's not been hard to make the books look bad!!!!

 

lol

 

@ the end of the day you only pay tax if you're earning, so it ain't that bad.

 

and if you've got your health , it's all a bonus.

 

I had a health scare with my 4yr old and my old man this weekend , tax aint that bad!!!!

 

[both are ok]