International Nesties
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UK Ladies - a tax question
Do you have to "file taxes" they way they do in the US?
Now that I'm done with the job I was issued a P45 form. Can somebody explain what that is and what they do with it?
Optional reading; my specific circumstances:
I had a part-time job in grad school, and didn't have money deducted for taxes because students don't have to pay taxes if they make under ?6,000 per year. Obviously I made under this amount.
From September to November I went off the payroll and "freelanced" for the same company.
Re: UK Ladies - a tax question
From what I understand, the majority of the people in the UK don't have to file. You are only required to if you are officially requested to file by the HMRC. I'm unfortunately one of those lucky ones ...
The tax year is also April 6 to April 5, just to make things complicated.
Cecilia arrived 12 October 2012
Conveniently I started this job in April.
Thanks, I won't do squat then.
While I'm not in the UK, we have a similar system here in Ireland.
If you were only an employee, then no, you wouldn't have to necessarily file your tax return. However, from the above statement you made, you appear to be self employed for part of what you earn? If this is the case, then you would have to file a return for taxes.
If you are not on the payroll then taxes and national insurance can't be deducted by the person paying you.
Do you still get a payslip from the company? If so, you are likely to be employee
Do you invoice for your services? If so, you are likely to be self employed.
Hope that helps...
Yes, I invoiced them for the last few months. I also got payslips, even after I went off the payroll and started freelancing.
I'll take a look at them, but I doubt I'll do anything about it.
If you invoice them you need to do a tax return and calculate / pay your taxes on this.
I'm an accountant btw...