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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 16705
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Im just finalising my 2018-2019 self assessment tax return

Customer Question

hi, im just finalising my 2018-2019 self assessment tax return for my rented property.my gross pay for employment was £41,500. my total rental profit is £4600, could you let me know how much tax I need to pay please? im new to this and completely confused.
Submitted: 15 days ago.
Category: Tax
Expert:  TonyTax replied 15 days ago.

Hi. My name is Tony. I'm looking at your question now and will post my answer or ask for more information here in a short while.

Expert:  TonyTax replied 15 days ago.

Your total tax liability should be £6,850.00 (£41,500 + £4,600 = £46,100 - £11,850 personal allowance = £34,250 @ 20% = £6,850.00), most of which should have been deducted from your salary.

 

I hope this helps but let me know if you have any further questions.

Expert:  TonyTax replied 12 days ago.

Hi again.

I'm just following up to find out if my answer helped or if you have any further questions. If not, would you mind rating my answer so that I get credited for my work.