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Is the business tax rate scale the same as personal?

Question: Is the business tax rate scale the same as personal?

(Posted by: melissA M on 2009-02-01 08:43:15)

I made 20.000 from my small business my husband made 43.ooo what tax percentage do we fall in. what extra taxes do i pay for having a business i have no employees


Answers:

Posted by: suerye on 2009-02-01, 09:06:48

Tax on business profits are the same as for employees, assuming you are sole traders and in addition you pay 8% class 4 NIC over 5225 for 07-08.

  

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