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Author help, what do these mean??
Icy
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Registered: 31st Jan 01
Location: Edinburgh Drives: Mk3 Golf Gti
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23rd Jan 06 at 14:26   View User's Profile U2U Member Reply With Quote
PAYE
and Schedule D??

need a description, advantages/disadvantages
but have no clue what they are/mean

wtf r they

thx
R Lee
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Registered: 15th Aug 03
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23rd Jan 06 at 14:26   View User's Profile U2U Member Reply With Quote
pay as you earn - PAYE
Melville
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Registered: 4th Jun 03
Location: Newcastle upon Tyne
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23rd Jan 06 at 14:31   View User's Profile U2U Member Reply With Quote
Schedule D relates to different types of income.

Schedule D case 1 one is basically any profits taxable from a self employment within the UK

Sch D Case II is basically the same as obove but for trade outside the UK.

Whats it in connection with and I may beable to help you further?
ClaireF
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Registered: 1st Nov 05
Location: hurlford, scotland Drives: corsa again
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23rd Jan 06 at 14:37   View User's Profile U2U Member Reply With Quote
did this last year
Icy
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23rd Jan 06 at 14:39   View User's Profile U2U Member Reply With Quote
thanks

freelance photography
gotta go a WAIF Financial action plan

[Edited on 23-01-2006 by Icy]
Icy
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23rd Jan 06 at 14:43   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Richard Lee
pay as you earn - PAYE


pay what as you earn? pls elaborate
Melville
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23rd Jan 06 at 14:52   View User's Profile U2U Member Reply With Quote
tax, its sounds as if its relating to how you would get paid.

PAYE means you are employed and the tax is deducted from your wage.

Sc DI means you would be taxed one figure at the end of your financial year and get paid gross.
Melville
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23rd Jan 06 at 14:53   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by vauxcorsagirl
did this last year


Glad to hear it but please dont bother putting such a fucken stupid comment in future

[Edited on 23-01-2006 by Melville]
Icy
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Location: Edinburgh Drives: Mk3 Golf Gti
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23rd Jan 06 at 14:54   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Melville

PAYE means you are employed and the tax is deducted from your wage.


somone mentioned to me that its self employed? whos right here
Tom
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23rd Jan 06 at 14:54   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Melville
quote:
Originally posted by vauxcorsagirl
did this last year


Glad to hear it but please dont bother putting such a fucken stupid comment in future

[Edited on 23-01-2006 by Melville]


FLMAO bit harsh
Icy
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23rd Jan 06 at 14:55   View User's Profile U2U Member Reply With Quote
out of order tbh

shes helpin me
Melville
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23rd Jan 06 at 14:58   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Icy
quote:
Originally posted by Melville

PAYE means you are employed and the tax is deducted from your wage.


somone mentioned to me that its self employed? whos right here


PAYE - employed

Sc DI - self employed

100% guarantee it.
ClaireF
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Location: hurlford, scotland Drives: corsa again
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23rd Jan 06 at 15:12   View User's Profile U2U Member Reply With Quote
paye- this is where the employers act as a tax collector for the goverment. On every payday the correct amount of tax and national insurance will be deducted for the pay wage. Every person has a tax code.

i have a sheet as well that shows u how they deduct it if u want me to scan it
Icy
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23rd Jan 06 at 15:13   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by vauxcorsagirl
paye- this is where the employers act as a tax collector for the goverment. On every payday the correct amount of tax and national insurance will be deducted for the pay wage. Every person has a tax code.

i have a sheet as well that shows u how they deduct it if u want me to scan it



no the above info is godo enough thanks. jus need to put advantages/disdvantages nwo
ClaireF
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23rd Jan 06 at 15:14   View User's Profile U2U Member Reply With Quote
advantages- i think would be thjat the money for tax is already taken out of wages before u recieve them. So basically yr not actually having to do it yourself
ClaireF
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23rd Jan 06 at 15:15   View User's Profile U2U Member Reply With Quote
disadvantages- u lose money, that u earn for people who do not work, or live in a prison to have day trips
Melville
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23rd Jan 06 at 15:17   View User's Profile U2U Member Reply With Quote
The advantages of being self employed is that you can fiddle things like milage, telephone, camera repairs (NB new equipment will be capatalised and claimed via a capital allowance of either 50% first year or 25% of the balance), claim for use of home as an office, magazine subscriptions.

In my opinion it will be better to be self employed if you can get a guaranteed income, if there is such a thing.
Melville
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23rd Jan 06 at 15:18   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by vauxcorsagirl
disadvantages- u lose money, that u earn for people who do not work, or live in a prison to have day trips


You still pay the same tax if your employed or self employed
ClaireF
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23rd Jan 06 at 15:18   View User's Profile U2U Member Reply With Quote
i know, but paying tax is a disadvantage
Melville
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23rd Jan 06 at 15:19   View User's Profile U2U Member Reply With Quote
you pay tax regarless though whether you employed or self employed.

So its not an advantage for one of them.
Icy
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23rd Jan 06 at 15:21   View User's Profile U2U Member Reply With Quote
wot shud i put for disdvantage for PAYE then
almost put u lose money coz it goes to ppl in prison that have day trips
ClaireF
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23rd Jan 06 at 15:22   View User's Profile U2U Member Reply With Quote
I think that will go well
Icy
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23rd Jan 06 at 15:24   View User's Profile U2U Member Reply With Quote
i cant put that in!!
Melville
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23rd Jan 06 at 15:24   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by vauxcorsagirl
I think that will go well


Your doing GCSE business studies right?
Icy
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23rd Jan 06 at 15:25   View User's Profile U2U Member Reply With Quote
another thing i cant put to paper, how do i explain a creditcard

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