i earned roughly 61000 this year and as far as i know owe nothing from previous years. i am cis registered.
my boss (i am self employed) took the CID 20% deductions all year, so i ended up paying roughly 12500 in tax.
i realise my tax around roughly 37000 goes up to 40%, which i clearly havent paid (if not automatically taken) could be causing me confusion, but using the HMRC calculator, which does not account for expenses, it said i should be owed around £280.
now doing my return, i put expenses in around 6000, and it is saying that i owe them around £1200.
as i was confused, to test, i changed my expenses to 20,000 and that resulted in me being owed £3800... of course my expenses weren't that much but how // what is going wrong??
if i earn 61000, pay 12000, my taxable income is 49000 (calc says owed 280£), put a further 20,000 for expenses (example only) making my taxable incoming 29,000, i am them owed just shy of 4,000...
on the calculator, me 20$ tax is 7000 and me 40% tax is 4,000, i already paid 12500 in tax, so as the calc says, im owed around 300, but then surely if i add 5,000 in expenses, whatever tax that saves me should be going in my pocket, but im being told im 1400 worse off (280 owed - the 1200 the SA is saying i owe...