Self Employed

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  • #21712
    natasha
    Participant

    I just want to ask a question about self employed customers.

    If someone submits accounts for their 2008/2009 financial year. Would we use 2008/2009 tax and n.i figures from the inland revenue to assess the claim?
    We have a debate in the office as some are using the 2009/2010 figures for 2008/2009 accounts.

    any help appreciated

    thanks

    nat

    #5730
    Jayne-T
    Participant

    ..

    #5731
    jamcon
    Participant

    Not sure I agree with Jayne. Regulation 39 (working age HB regulations) states tax and NI should be deducted at the rate relevant to the assessment period. Regulation 30 states that you choose the most appropriate period to estimate self-employed income. Regulation 2(1) defines assessment period as prescribed in regulations 29 to 31. So I would say you use the tax and NI rates for the actual financial year the accounts cover.

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