Becky_simon
Well-Known Member
Hi everyone
I haven't posted in this forum in ages!
Just need some 'fool proof ' clarification on some accounting information please.
My business is allowed a certain allowance of non taxable income, 2014-2015 is it £10,000? This figure is INCLUDING all Expenses etc taken from it first isn't it?
Once I reach this allowance (less expenses etc) am I correct in thinking if it's £2,880 or less your taxed 10% or if it's £31,865 your taxed 20%?
Just need someone to confirm my understanding as correct?
I haven't posted in this forum in ages!
Just need some 'fool proof ' clarification on some accounting information please.
My business is allowed a certain allowance of non taxable income, 2014-2015 is it £10,000? This figure is INCLUDING all Expenses etc taken from it first isn't it?
Once I reach this allowance (less expenses etc) am I correct in thinking if it's £2,880 or less your taxed 10% or if it's £31,865 your taxed 20%?
Just need someone to confirm my understanding as correct?