blonde poker forum

Is anyone good with tax, student loans, set-assessment and that sort of stuff.
Am currently being bounced back and forth between student company and hmrc.
Have a quick q for anyone kind enough to drop me a pm.
In return, I can offer advice on an array of things including wrestling, the film labyrinth, and dating jewish girls.

I had an issue with self assessment and tax returns, what's up?

I know wrestling and Labyrinth very well, could brush up on my J-date stuff tho

Loved that film.

(http://imsufyan.files.wordpress.com/2012/01/the-labyrinth-david-bowie.jpg)

No help with tax, I'm afraid :( Can't even do that trick with the crystal ball...

Did a bit of self-employed work and the form calculated it as 45% tax inc. student loan and NIC.
Seems way too high.

Not an expert but have a fair bit of knowledge on it if you want to run it past me.

Assuming your not a higher rate tax earner (Sorry Snoops, the unshaven look, young persons hair, fact you like wrestling and the fact you still seem surprised you managed to get yourself a girlfriend after all this time made me thing perhaps not), then that amount seems way too high. I'm guessing you would be around the student loan age where it works out as 9% paid after the first £15,000 earned (So if you earn £20,000 the student loan would be about £450).   

What Class of NIC are they calculating on your income from self employment?

I can advise on dating wrestlers.

I'm a qualified accountant but don't know anything about tax if that helps  :)up

Have you ever taken a Jewish wrestler out on a first date to watch Labyrinth?

I think it's Class 4.

I always preferred the prequels.

I pay my student loan via PAYE every month, so I should be up to date with payments. I was expecting to pay a bit more of the loan when I submitted my handful of invoices for self-employed work, but didn't expect the figure to be this high and now I can't seem to get anyone at HMRC to tell me why. One woman actually said that she couldn't advise me on filling out the form until I filled out the form and submitted it, which seems strange for a filling-out-the-form help line.

You know those posts I deleted.......

Income Tax (PAYE) 20%

Student Loan 9%

Class IV NIC 9% (on self employment profits over £7605)

As well as this you will be asked to pay 1/2 of your future years tax, student loans and NIC on s/e on account for next tax year.

This could get it close to 45%?

It's possible they've done this, which would be a mistake as I haven't done any self-employed work since the 2011, and didn't have to pay on account last January. Am beginning to wish I'd not even told them about this extra work now as I doubt they would have noticed.

Thanks for the help. HMRC support is super tilting. Takes ages to get through to morons at premium rate. Already cost me a tenner.

PM'd you about getting this reduced, hope it helps. Would never ring them because you take pot luck on a. getting through and b. getting someone there who understands Self Assesment.

Managed to find a breakdown on the HMRC website. They've charged me 20% on tax, but the student loan is where the problem lies as they're requested 25% on my self-employed earnings. I don't think they're asking for anything on account, although could be wrong. Ugh.

Just ring BabeStation up, same experience.

FYI I had a not too dissimilar experience and got no resolution, so I just submitted my tax returns as normal and eventually the necessary changes just happened. It took about 3 years to happen, but eventually I got a letter saying "you owe us £500 for student loans from three years ago which we are now taking".

Is that tenner tax-deductable as an expense?

Managed to find out the answer. Apparently there was some kind of mysterious shortfall in the amount of student loan I paid in the last business year under PAYE and as soon as I filled out a self-assessment form for self-employed work, they charged me for that shortfall. Why a shortfall occurred and how it required four phone calls, a tub of vasleine and a crowbar to prise out the answer, I'm not sure, but I got there in the end. Thanks to anyone who posted or pm-ed advice.

It's this simple with hmrc, and I rue not having done it sooner, have an accountant

I have been in dispute with hmrc for 8 years. Last year was the straw that broke the camels back, when they told me I was going to court if I didn't pay "an assumed" £800, when the figure due could have been no more than £0.

My accountant is currently discussing a 5 figure rebate, they have gone eerily silent!

If they think you are a chump, I'm convinced you get flagged as the bloke to target!

Roll on the day mine gets settled! Currently 9 months without a coherent response!