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  • Documento Sin Tã-Tulo

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    ana villar monterde
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    The document outlines a self-employed individual's business plan and expected earnings for tax year 2022-2023. It details that they work as a translator/teacher earning an average of £9.5 per hour for 3 hours daily, equating to £612.75 in annual income. After deducting £10 in telephone expenses, the pre-tax profit is £602.75. As the first £1,000 of self-employment income is tax free, the individual's post-tax and National Insurance profit is estimated at £589.01 per month.

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    Documento sin tÃ-tulo

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    The document outlines a self-employed individual's business plan and expected earnings for tax year 2022-2023. It details that they work as a translator/teacher earning an average of £9.5 per hour for 3 hours daily, equating to £612.75 in annual income. After deducting £10 in telephone expenses, the pre-tax profit is £602.75. As the first £1,000 of self-employment income is tax free, the individual's post-tax and National Insurance profit is estimated at £589.01 per month.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    16 views2 pages

    Documento Sin Tã-Tulo

    Uploaded by

    ana villar monterde
    The document outlines a self-employed individual's business plan and expected earnings for tax year 2022-2023. It details that they work as a translator/teacher earning an average of £9.5 per hour for 3 hours daily, equating to £612.75 in annual income. After deducting £10 in telephone expenses, the pre-tax profit is £602.75. As the first £1,000 of self-employment income is tax free, the individual's post-tax and National Insurance profit is estimated at £589.01 per month.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 2

    Business plan/EXPECTED EARNINGS

    Nowadays registered as self-employment at REVENUE AND CUSTOMS, FOR SELF-ASSESSMENT (TAX


    RETURN AND NATIONAL INSURANCE CLASS 2)
    UTR:3243940098
    Nature of the TRADE:TRANSLATOR/INTERPRETATION, TEACHING IN MATHS AND SCIENCE
    DATA COMMENCED 25/01/201
    EXPECTED INCOMES

    3 HOURS DAILY AVERAGE AT PRICE OF £9,5/HOUR


    £612,75 INCOME RECEIVED
    BUSINESS EXPENSES:
    £10 TELEPHONE BILLS
    PROFIT AFTER TAX AND NATIONAL INSURANCE
    £602,75

    INCOME TAX PAID


    THE FIRST £1000 OF INCOME FROM SELF-EMPLOYMENT AS TRADING ALLOWANCE
    DO NOT PAY TAX
    CURRENT TAX YEAR IS FROM 6 APRIL 2022 TO 5 APRIL 2023
    THE STANDARD PERSONAL ALLOWANCE IS £12570

    CLASS 2 NATIONAL INSURANCE PAID 13,65 MONTHLY (£3,15 A WEEK)


    WILL BE PAID IN SELF ASSESSMENT TAX RETURN
    HMRC HM REVENUE AND CUSTOMS
    FILL A RETURN IF YOU NEED (I DO NOT NEED) AFTER THE END OF THE TAXABLE YEAR 5 APRIL
    PAY YOUR SELF ASSESSMENT BILL BY 31 JANUARY
    (PROFITS ARE £6725 OR MORE A YEAR)

    CLASS 4 0 (PROFITS ARE £11909 OR MORE A YEAR)

    PROFIT AFTER TAX AND NATIONAL


    589,01 MONTHLY

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