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Is this tax code right?
I am retired with a pension of £16400 per year before tax and my tax code is 602L. I have started a new part time job 25hrs per week on £10000 per year with a tax code of BR NONCUM. I seem to be paying an awful lot of money in tax, is this tax coding right? Bob
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Gifts From Parents
I am not sure if this is the correct section,but would some kind soul,please explain what is allowed to be given in gifts in the form of money per year. Cheers
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Sorry if this question is on here but....
Whilst i was a student i was working part time in a pub from Jan 06 till Dec 07. I got over taxed (as i didnt earn over the required amount to) but as i'm pretty lazy :o I have only got round to sorting this out as i didn't automatically get a rebate in April 08. I did previously ring their offices but the first time i…
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Probate
Hi all, I need your assistance please. My mother has recently passed away and has instructed me as Executor of her will. The will is quite straightforward insomuch that there are no issues like inheritence tax and the only potential issue is in respect of occupancy of her house, which my family have all agreed to sell once…
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Please delete this thread!
Please delete this thread!
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Self Employed Mileage
Hello I know lots of people have asked this, but I can't find the answer on any threads. I'm self employed and use my own car for work. I'm a reporter, so have to travel all over the place for work. Some people on here say they claim for their journey TO work, but not home. Is this allowed? If so, I'm assuming the best way…
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Vat time help
This is the second time i have had to fill a VAT form in, the first time my accountant did it, ive managed to work everything out except for the fuel side, i did not claim for it last time, but am going to this time. My accountant showed me how to do it ie i get the 40p a mile, but can only claim VAT on the 13p that is for…
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Independent Financial Advice
I would appreciate some advice on... Where is the best place to gain independent financial advice? And how can I tell if the adviser is really working in my best interests - and not to gain as much commission as possible? Also, is the service normally offered free of charge or is a fee the usual practice? :cool:
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Tax relief on mortgage
I have an offset facility on my residential mortgage (say 100k) with 50k in it. I withdraw the 50k to fund a B2L property. Do I get tax relief on the 50k at the interest rate on my residential mortgage? If I need 50k (say as a deposit on the B2L) as well as a B2L mortgage, do I get tax relief on both?
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Income tax allowance
How much is a person allowed to give as a gift to another person for tax purposes if they are not related? I have helped my daughter buying a house although the house is in her name, her brother has 25% share in it. This was not done officially, it was an agreement between us. Daughter will be living there with her…
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P11d
I've been given a P11D from my employer for 2008-09, but it's not correct. It includes details of a lease car I had, but the car was returned on the 3rd April 2009, but the P11D doesn't include that return date. I've told my employer, but they just say that the car was returned in 2009-10, but isn't 3rd April 2009 in the…
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Income not declared...affect on tax credits
A friend has a problem. Four years ago he bought a house on mortgage for his father to live in. He has been paid HB from the local authority. He genuinely took the view that there was no profit as the HB did not cover the mortgage payments. HMRC have now pointed out to him that only the interest is claimable against tax.…
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Student Tax rebate
Hi Guys just looking for some advice/reassurance. I am a uni student. I had a part time job in Sainsbury's between September 2005 and March 2008. I left in early March 2008 because my course requires a year in work placement relvent to my course. I had planned to start in May/June 08. Due to the Credit crunch i didn't…
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Remortgage to buy B2L Property: TAX issues
Is it True? Can i use savings in my home offset account and remortgage with equity my own home to purchase a B2L property...then claim the interest repayments as tax relief against the rental income earned ????? I would love to find an official line on this one...would be an important factor in sorting out a very big messy…
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Emergency Tax Code Confusion
This morning I received a letter from HMRC stating they need a 2008/2009 P45 or P60 from a company (lets call them CH) that I worked for until 2004 and haven't worked again for since. I rang them up to explain that I had left that company in October 2004 and not worked for them since, and now just started my 3rd job since…
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Inheritance tax question?
Hi, My parents are concidering taking out a trust so that if they ever need to go to a care home or anything happens to them that the council/inland revenue can't takethe equity from their house to pay for their care. A friend at work mentioned to me that there is a clause stating that if my parents should die, or need to…
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income tax advise please
I've just been given the higher personal allowance as I will be 65 next Feb. I've just retired and am awaiting my NHS pesion. The lump sum is meant to be tax free. Will it be included in my years income thus taking me over the 22+k and making me liable to more tax or will it not be included at all because its tax free?…
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Help needed with CGT rules
i bought a house in 2000 for 50,000. rented it out from april 02 - june 03 then again from june 03 - jan 04. I then moved back in the property and sold it december 2005 for about 100,000. The tax man has just got in touch for the rental income i made. Also he is aking me what price i bought and sold it for. Surely i am not…
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Tax advice needed
I was working 1 part-time job and have now been offered another part-time job which i will start next month. I need to know if its possible to claim clothing allowance on both jobs or is it only on 1 job? I am provided a uniform by both jobs. Also, How will my tax be calculated? The pay for both jobs will be about the same…
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Tax Help
Now im unsure how this works so bare with me, im a student and entitled to earn up to 6.5k i believe in 2009 tax free. was released via p45 from my old job in january, since then ive worked via a job agency doing temporary work. Now, ive been told that because i do multiple jobs even though im allowed to earn upto 6.5k…