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Personal Tax Calculation Help

Previously being self-employed, now employed, how do I calculate taxes owed/rebated?

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Hello, 

I know close to nothing of the world of accountancy and would be thankful for your advice. 

In the fiscal year 2019/2020, I was:

  • Unemployed from 04/2019 - 08/2019: Earning £0 in total.
  • Self-Employed as a motorcycle courier from 08/2019 - 12/2019: Earning £3838.30 in total.
  • Employed from 11/2019 - Present: Earning £23,000 per annum. 

Whilst Self-Employed, the courier companies I worked for did not pay taxes on my behalf. I have registered as Self-Employed, however don't fully understand the process from here. 

How do I calculate the sum I must pay to HMRC?
How and when must I pay? 

I have read that I am entitled to claim 24p per mile ridden whilst employed as a motorcycle courier. When and how do I do this? What other expense should I include? 

Thank you very much for your time, I would greatly appreciate any assistance. 

Kind Regards, 

S.R. 

 

 

Replies (6)

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By Tax Dragon
26th Jan 2020 16:44

You'll almost certainly be due a repayment.

Wait till 6 April 2020 and take your details to a budget tax shop that offers to complete your tax form for £100+VAT.

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Hallerud at Easter
By DJKL
26th Jan 2020 17:25

Just to mention you have a date wrong , 12/2020 really only being possible if you had the motorcycle equivalent of a DeLorean.

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By SXGuy
26th Jan 2020 18:30

You get an accountant and pay for the advice. That's how you do it.

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By SXGuy
26th Jan 2020 18:30

You get an accountant and pay for the advice. That's how you do it.

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By bernard michael
27th Jan 2020 10:36

Did you claim Job Seekers Allowance 04/19 to 08/19 as that is taxable
What were you working as in the year to 05/04/19 and did you submit a tax return ?

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By paul.benny
27th Jan 2020 11:50

If you submit your tax return online, all the calculations are done for you and you can view the amount before you submit.

2019/2020 tax returns are available for completion from 6 April 2020 but in practice you will need to wait for a P60 from your current employer.

Within the self-employment section of the tax return, you will be able to enter your expenses - such as the 24p/mile you mention.

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