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Archived UK Tier 1 (General) points system forum. This route no longer exists.

Moderators: Casa, Amber, archigabe, batleykhan, ca.funke, ChetanOjha, EUsmileWEallsmile, JAJ, John, Obie, push, geriatrix, vinny, CR001, zimba, meself2, Administrator

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instant_noodles
Newly Registered
Posts: 25
Joined: Sun Feb 27, 2011 11:49 pm

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Post by instant_noodles » Sat Mar 19, 2011 3:31 pm

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Last edited by instant_noodles on Mon Oct 03, 2011 6:11 am, edited 2 times in total.
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Celtic
Junior Member
Posts: 75
Joined: Mon Mar 14, 2011 4:36 pm

Re: Self Employed Net Profit before tax or after tax HELP

Post by Celtic » Sat Mar 19, 2011 3:37 pm

instant_noodles wrote:Can someone clarify this

is it my income - expenses = net profit

or

income - expenses - govt tax (& NI) = net profit
Net profit is your taxable income. So net profit is income minus any expenses.
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sanjeev.x.kumar
Junior Member
Posts: 81
Joined: Fri Feb 04, 2011 12:09 pm

Re: Self Employed Net Profit before tax or after tax HELP

Post by sanjeev.x.kumar » Sat Mar 19, 2011 6:19 pm

instant_noodles wrote:Can someone clarify this

is it my income - expenses = net profit

or

income - expenses - govt tax (& NI) = net profit

MY PROFILE : SELF EMPLOYED & REGISTERED WITH hmrc AS SOLE TRADER
it should be income - expenses = net profit
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