tax return

[jimmy84]

I'm a self employed sparks working for agencies and sub contracting for the last two years. Before this I was employed so I'm new to the tax return scheme CIs. I earned 28 grand last year paying 30% for 6weeks. My account said I'm looking at about 1200 return but other sub contractors say I should be getting more. Is my accountant any good?

 

[Outspoken]

That all depends on your costs etc, Tax returns do not have a preset amount of claim back based on your earnings, they are based on what you pay out that is a legitimate expense.

Are you CIS registered or a Ltd Company, makes a massive difference.

 

[Octopus]

On a profit of £28K your tax and NI liability would be about £5K

 

[abltech]

Also depends on your tax code and as mentioned above your company registration status (sole trader, ltd etc). If you are are a sole trader and taxed at basic rate you will be looking at around 3.5K tax and 2.4K National Insurance. This is even before you consider expenses and bringing in VAT to the equation.

I suggest you get a charted accountant (they come quite cheap these days).