employment income £25k self employed £37k total earnings £62k.
Is it simply £62,000 less UEL £34,840 = £27,160-£5,225= £21,935 chargeable at 1% instead of 8% ? or do I have to look at the earnings period over which the £25k was earned?
nick farrow
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Anual basis applies
The calculation looks like a mess, but it is fairly straightforward if you apply common-sense and follow where it is leading.