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A
ARWMB40
March 4, 2019
Question

Why my income Tax is 0?

  • March 4, 2019
  • 2 replies
  • 0 views

Hi, 

 

I am both employed and self-employed. I filled in the Tax profile page with my estimated employed income and I have a positive self-employed income since June last year. The estimated Income Tax has always been 0GBP including Class 4 & Class 2 National Insurance Contribution - this can't be right. Can anyone help, please?

2 replies

JamesC
JamesC
March 4, 2019

Hey ARWMB40,

 

could you please send a screenshot of your tax profile page? Alternatively, you can Direct Message us your Email Address through our social media outlets, @QuickBooksUK on Facebook + Twitter, I'd like to look at your account and see IF i can help.

 

We may have to direct you to an accountant, if i deem there is no technical fault with the product, but we gotta start somewhere.

 

Welcome to the UK community page too :)

P
pcpatrick
January 11, 2021

Hello,

 

I also have exactly the same problem at above. Please can you help me on this? It shows as no taxes need to be paid...

 

Please let me know how that works.

JoesemM
JoesemM
January 11, 2021

Hello there, pcpatrick.

 

QuickBooks will calculate your self-employment taxes based on your business income, spending, allowable expenses, and the information you have set up in your Tax Profile. Also, it is based on the HMRC on how they calculate the tax rate. As mentioned by my colleague above. For additional reference, you may check this article: QuickBooks Self-Employed UK Tax Profile Set Up.

 

Since there aren't taxes that need to be paid, I'd suggest contacting our Customer Support Team. They have more tools to check your account securely and provide more details about this.

 

Before diving in, please note that our live support is available M-F 6 AM to 6 PM and Saturday 6 AM to 3 PM PT. 

 

When you're ready, here's how to get started:

 

  1. Click the Assistant button at the top.
  2. Type Talk to a human.
  3. Select your preferred support method: Message an agent (Live chat), Call an agent, or Get a callback.

 

You can also use your iOS device to connect with one of our live support. Please check out this article for additional details: Contact QuickBooks Self-Employed Support.

 

For more details about Income Tax rates and Personal Allowances, you can visit the articles shared by my colleague above.

 

You can also check our QuickBooks Self-Employed articles if you need help managing your financials and transactions in the program

 

Please let me know how the call goes or if you have any other issues. I want to make sure everything is taken care of for you. I'll be here to help. Have a good one!

C
Charlie999
March 9, 2019

I'm the same. I'm employed and self employed and My Employment income more than takes up my Personal Allowance and its shown me as having a Tax of zero all year even though I have a fair sized Business Income so far. 

 

If I put in a made up entry to Make Net Profit £10,000 it show me tax of about £300! Surely that should be about £2000!

 

Did you get any joy on this from Direct Messages?

C
Charlie999
March 10, 2019

OK so I've been messing around with this today and it seems that if you set the Personal Allowance to other than Zero it doesn't calculate Tax until that figure is reached. In my case though and the author of this thread we have a PAYE income that's taking up this allowance. QuickBooks though seems to add this on again giving you double that allowance which is why I think my tax is so low!

 

Am I correct therefore in saying that if you do have a PAYE income that is more than your Personal Allowance you set it to £0 in QuickBooks? Even though thats not explained anywhere! I've also messed around with the Estimated Employment Income box and no matter what that value is I can't see anything different in the calculations! I've tested from £0 to £100,000 and it's always the same. 

A
ARWMB40Author
March 10, 2019

I tested your solution ( removing the allowance by changing it to 0GBP) and it improved income tax amount to a more reasonable level. NIC 2&4 is still showing 0GBP though. 

 

 

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