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Cutting tax
Archives for October 2005
Discussion List
tax status of insurance and medical cover?
Hi. I know some companies offer private medical insurance as a perk to their employees. Is this treated like a company car by the IR, do they tax you on this "perk"? If you are self-employed and you take out insurances, are you: (i) taxed on these "perks", (ii) nothing - the costs are tax neutral, or (iii) able to claim…
I Need Some Expert Tax Advice
I have been working in the UK for 15 months and I am a South African citizen.(domicile too).I have been trying to find information on how I can structure my income to save on tax but it seems to be quite an expert area.There is a way(I think)to structure it into an offshore company ( on what I've read -because of my…
Tax Code
Personal Tax Services reckon they can get me a tax rebate but want a one off charge or £75 or 0.40 of every £1 they get. How can I check that I am on the right tax code with out using a personal tax advisor or company?
Tax on endowment payout
Just wondering if anyone has thoughts on the following:- I requested an cash-in estimate on my endowment policy as I'm switching mortgages to a repayment one. On the letter I received from the endowment company it mentioned that I may have to pay tax. I presume this is because this money is classed as income? Is there…
Fuel Benefit
I've been to the Inland Revenue site but can't make head nor tail of it! I must be thick. I use my own car for company business (first time) and my employer pays for both business and personal fuel. Never had a company car. How do I calculate the amount of tax I will pay? Any advice gratefully received.
More on business mileage...........
I have a company vehicle but have the responsibility of claiming back business miles at the rate of 0.09/mile which I am told is what the IR allow for business mileage. Frequently I am expected to ferry goods en route from home to office each morning and vice versa each evening. Despite the fact that these goods are…
Tax on private car mileage - cashback?
My company pays me 35p per mile for using my private car for company business. The inland revenue approved mileage rates are 40p per mile for the first 10,000 miles and 25p thereafter without paying any tax. I do less than 10,000 miles per annum. Can I claim back the difference of 5p per mile from the tax-man? If so - even…
Capital Tax Liability: Single vs. Joint
My wife currently owns a flat in London that we have rented out for the past 2 ½ years and I wondering whether anyone out there could offer me some tax advice. We have made the decision to continue renting the property out for the long term but are aware that the property will be liable for Capital Gains tax from the 3rd…
Can anyone help
I have recently retired due to ill health and the IR have sent me a form (P161) regarding pension enquiry. My problem is that they want to know what interest I get from my bank account. I have already paid tax on any interest i get. Can anyone explain why they want/need to know this and what should I do when filling in the…
Tax implications of part-buying a house for elderly parents
My elderly parents are moving from the Midlands to the South. They have a house worth c£200k and to get the equivalent here will cost an additional £100-£150k which I have agreed to fund. Can anyone please advise on the tax implications involved in relation to capital gains and Inheritance Tax. Are there any tax efficient…
Self Assessment - Capital Gains
In my Self Assessment last year, I omitted some capital losses I had incurred (shares sold that were purchased when we were all riding the dot con period). Can I still include these in future self assessment forms?
Fostering and Tax
I work 14 hours per week for a company and am PAYE. I've recently qualified as a Foster Carer and take in my first placement this week for 2 days and nights. I will be on a self employed basis. Should I get and Accountant and how should I declare and pay tax? Any advice welcome
Tax deductable
Does anybody know whether you can claim for training course fees when competing your tax form? Bluepeteten
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