Soldato
Hi all,
I've nearly completed my first tax year, filing my return online by Jan 31st 2010 but have a question...
And I am going to be looking around for an accountant tommorow anyway, but really wanted this answering/knowing now
With personal allowance, does this mean if I earned a net profit of £12,000 between in my tax year (Oct'08 - Oct'09) that I wouldn't pay tax on the first £6,035 (The personal allowance for the 2008-2009 tax year)... and only on the last £5965 of net profit?
Plz help and thank YOU if you do!
I've nearly completed my first tax year, filing my return online by Jan 31st 2010 but have a question...
And I am going to be looking around for an accountant tommorow anyway, but really wanted this answering/knowing now
With personal allowance, does this mean if I earned a net profit of £12,000 between in my tax year (Oct'08 - Oct'09) that I wouldn't pay tax on the first £6,035 (The personal allowance for the 2008-2009 tax year)... and only on the last £5965 of net profit?
Plz help and thank YOU if you do!