Actual Tax question...

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Jeeper

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do you know if you have to report unempolyment on income tax? i keep seeing and getting conflicting info.
 

Shakie

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As far as I know you do. I did my taxes last week and it asked on there. (TaxCut)
 

Sarah_J

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Jeeper said:
do you know if you have to report unempolyment on income tax? i keep seeing and getting conflicting info.
Unemployment benefit is taxable income i.e. you may not have to pay tax on it put it does count as earnings against your tax free allowance which in 2005-06 is 4895

So if your total earnings, (which includes unemployment benefit, savings interest), is less than 4895, then there is no tax to pay.


Heres a useful online tax calculator, that works out how much tax is due on your earnings.

http://www.moneyforums.co.uk/uk_tax_calc.php
 
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