preliminary tax for 2011
- Thread starter cash_cow
- Start date
Hi,
thanks for the info around the 3175 limit - I didn't realise it existed. The form 12 seems to indicate that the limit is 50,000
"An individual who is in receipt of income
chargeable to tax under the PAYE system but who is also in receipt of gross non-PAYE income of£50,000 or more from other sources, such as trading,
professional or rental income etc but where this income has been reduced to nil or to a negligible amount because of deductions, losses, allowances and
other reliefs, is regarded as a 'chargeable person'. An individual who is a 'chargeable person' for the purposes of Self-Assessment Income Tax should
complete a Pay and File Income Tax Return Form 11 or Form 11E."
thanks for the info around the 3175 limit - I didn't realise it existed. The form 12 seems to indicate that the limit is 50,000
"An individual who is in receipt of income
chargeable to tax under the PAYE system but who is also in receipt of gross non-PAYE income of£50,000 or more from other sources, such as trading,
professional or rental income etc but where this income has been reduced to nil or to a negligible amount because of deductions, losses, allowances and
other reliefs, is regarded as a 'chargeable person'. An individual who is a 'chargeable person' for the purposes of Self-Assessment Income Tax should
complete a Pay and File Income Tax Return Form 11 or Form 11E."
