Cutting tax

Discussion List

• Can somebody explain a tax riddle please?

  Second job tax code BR Gross pay is the same as taxable pay. However, National Insurance is also paid. Tax is not paid on NI. So, how can taxable pay be the same as gross pay? I would expect taxable pay to be gross minus NI. I have spoken to three tax advisers at IR - all are very obliging and understand 'where I am coming…

• CGT - Am i exempt if i sell within 3 yrs

  Dera All Some advice please.... My wife owns a property (bought £145K in 07/01) which she lived in when we met and we moved into together. Since marrying we bought a house (in my name ) and moved in (11/02). Her flat is now worth c £250k. We are looking to remortage (requst in mortgage section), but a friend said that we…

• Tax question

  I'm married, early retired, will shortly receive State pension in addition to my Company pension. My wife has no income whatsoever. Our situation is by no means unique. The difference between "single" and "married" personal tax allowance is minimal. Long time ago, tax law allowed married couples to claim "Separate…

• help inland rev has asked me4 a statement of earn

  help inland rev has asked me4 a statement of earnings for 03 - 04 :( i have contacted all my employers etc andthey are sending me the relevant material !! but whats going to happen to me ? i dont get the feeling that its a positive :( and them contacting me 2 tell me that i didnt use all my allowance in 03-04 doesnt seem…

• Poor advice?

  Eight years ago my wife and I purchased the house next door so that my mother and father could move in to baby sit. At that time someone told us to put the house in my parents name so that when it came round to selling it we would not be elligible for CGT if there was any to pay. After any sale my mother and father would…

• Inheritance/capital gains tax

  Hello I'm a bit in the dark as to the whole inheritance and capital gains tax business and need some advice. The story is this 2 years ago myself and my brother bought our family home from our parents for 105k (valued at 160k). they purchased a bungalow in Lincs for 80k, moved and myself and my brother stayed in the old…

• Partial ownership of family members house

  Hi there, To put you in the picture, I have a legal document which tells me I own a third of my sisters property. My grandmother (who is still living) gave £100k to my mother and my auntie, who each gave £25k to their children. My share was given to me as part ownership of my sisters house. She doesn't pay me rent. For…