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keeping tax minumum on rental income
hi everyone.. i read this site all the time and am impressed on how helpful and knowledgable u all are so thought u could help us decide on the following my partner is buying a property withhis divorce settlemtn... he earns and pays tax whilst i have minimum income and can easily take the rental income and not pay tax.. my…
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Capital gains tax
I am thinking of buying a flat for my son whilst he is at uni. If I buy it in his name and then at the end of 5 years say, sell it, what are the CGT implications? As the flat will be in his name and he will be living in it he will not be liable for CGT. But, as it is bought with my money and I will be getting back from him…
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Tax on interest
I am a non tax payer but i would like to know how much am i allowed to earn in interest on my savings before i have to start paying tax? I would also like to know, even though i dont get much interest on my savings at the moment, should i be filling in a tax return like tax payers do, and seeing as i dont get paper…
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When I get married....
...will I have to tell the Tax Office, or will they know automatically? Also, will I pay a different rate of tax to what I pay now?
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P46 Advice Please
I will be starting a new job next week and I don't have a P45 so will be filling in a P46. I haven't earned anything in this tax year and I understand that the tax will be deducted on a week one basis. My query is when the employer sends the P46 to the tax office will they inform the employer of my earnings to date (nil)…
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Am I due any money back?
Hi I have been working for about 6 years and moved jobs a few times. Whle starting jobs I recall being on emergency tax until my papers were processed to put me on the normal tax code. Should I not have had this back at some point? I am now a mum at home with the little one and didnt get much help finacially except for…
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Inheritance tax - better to have spouse on deeds/mortgage or not?
Quickie! - for anyone please help! Is it better to have a spouse's name on the mortgage and/or deeds for the sake of IHT on property worth more than the threshhold level or not? (I have a meeting tmorrow to set up a mortgage and currently have asked for quotes in my name only)
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Student Tax?
Im 18 now, and since I began college 2 years ago I have had a job earning me a NET income of £240 a month now, less when I was under 18. (£183) Anyhow, all this time I have had to pay no tax, and I always believed it was due to me being a student and that i had to fill in a form to stop me from paying tax. Now however,…
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Off Shore Accounts
Hi all Just found this site, i think its great. Ok here goes my first question: I always hear about how people with off shore accounts and companies save alot on tax can any shed any light on this or who i should ask, i am about to open a business up and wondering do i sort things out before i open my business cheers for…
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Tax on Company van - help - I don't understand!
Can anyone give me some advice please? I've never tackled this subject before. B/F drives a company van, which he takes home evenings & weekends. He pays for the diesel, and claims back X amount per mile travelled when he is working. He can use the van for personal use (not that he usually wants to!), and pay for fuel…
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Wrongly priced goods?
I bought some cooked meat in Morrisons last weekend. The package said 400g of roast chicken. It was in fact 200g and in a 200g package. How can I screw the most out of them for this obvious mal-packaged product?
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40p per mile fuel refund... Tax free?
Hi, My company is moving me to a different assignement and they have to pay me the fuel @ 40p per mile. Which means: 42 miles @ 40p x 40 time a month = £672 per month YOOHOO that will cover for my living expenses... which means a massive saving at the end of the month. Only thing is: it seems too good to be true. My…
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CGT and property...different question
If I purchase a property with the intention to make it my PPR and then circumstances change and I sell it within 6-months without letting it, is CGT due on any profit over the GCT allowance?
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Claiming overpaid tax back advice needed.
Hi there, I havent had much dealing with the Tax office much even though I have been working (and paying tax thru PAYE) for the last 3 years. I left my previous job last Dec and only started with a new one this April. Since then I received a P45 form from my previous employer showing the amount of money I got paid & tax…
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How do you ensure tax is paid to IR?
I know this sounds like a daft question but how can an employee ensure that any tax & NI deducted under PAYE is paid? The reason for asking is that I know my employer is several months behind in paying over the PAYE contributions. I know that End of Year returns have to be completed but if - for example - it transpires…
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still liable for tax?
if you go and live abroad and you owe the UK tax man from about 10 years ago (they never had the money then) are they still liable? It is probably a few thousand.
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Am I in the 40% tax bracket?
I'm somehow completely confussed regarding how 40% tax is calculated! I know that we are all taxed in stages, with 0% tax rate for an amount, then 10% for £2,000ish then 22% etc, but my question is at what point exactly am I due to start paying 40% tax? My problem is my salary has always been set at what I take home Eg:My…
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Payslip hell - Definition of "Taxed At Source"?
Hi, I've just moved jobs and my payslip looks very different to how it used to. There's the usual "Payments" and "Deductions" columns, and taking the sum of one column from the other gives me my net pay. All well and good. BUT! There's an additional information box on the slip saying "Taxed At Source" which shows stuff…
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IR claim assessment companies?
Hi, Got mailed by an organisation offering to look into whether I am owed any tax by the revenue for 40% of whatever is owed. The 40% seems steep but aside from that is there any merit in looking at this? Chandy
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How much will my Net salary be?
Hello Ive got a job, and I start in a week. Im trying to sort out my finances, and was wondering if anyone can help with working out how much Tax and national insurance i will pay. Im graduating now, so my student loan repayments wont start until april 2006. No pension in place yet, thats for later on in the year. my…
