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Gross interest from co-operative
I've earnt interest on a £100 share in a consumer co-operative. It's paid gross so presumably I have to pay tax on it, but this is the first non-PAYE income I've had so I'm not sure what to do. The IR website has tons of advice on how to get interest paid gross if you're a non-taxpayer, but none on how to sort out the…
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tax return
i have left this way too long but am completing it online so hopefully i'll be ok!! i'm stuck though. I think i have every bit of paper that has ever been given to me as i hardly ever throw anything away but... i can't find my statements of interest that come every year from my bank accounts!!!!! is there any way i can…
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Business mileage and temporary contracts
Can anyone give me advice on whether or not my wife can claim her journeys to work as business mileage for tax purposes? She is a teacher on two temporary contracts and carries out supply teaching, all of which occur at the same school. Contract 1 is for a year teaching 1/4 day on a Monday and 3/4 day on a Wednesday…
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Tax on Mystery Shopping
Hi everyone - looking for help. I work as a mystery shopping, as well as having a full time job (and I earn enough to be in the 40% tax bracket.) I work for 2 mystery shopping companies. One taxes me - at normal rate of tax, but I guess that's easy enough to sort out with the IR as I have reported my last year's earnings…
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Is capital gains tax a possibility?
I'm not sure if this is the right forum so moderators feel free to move this query. My father who is 71 recently underwent a serious operation and is now convalescing with his partner in her home. He thinks that his own house will be too much for him to maintain and is now pondering the consequences of either selling his…
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Student and paying tax?
hi, im a student nurse and have recenlty done su=ome agency work. i didnt think id get taxed but i have been taxed, agency says i have to sort my own tax code out .. i get bursary NHS of approx 5k a year, but i have fulltime student status for things like ctax. do i need to pay tax as normal? if not, what do i need to do?…
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Council Tax discount
Hi. As a single occupier I get a 25% disount on my council tax bill. A friend of mine lives with her 14 year old daughter. Does anyone now if she would be eligable for the single person discount as the other occupier is under 18? I will try ringin the council but find it difficult to fit in with my job so wondered if…
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Paying cash for services
Following on from my question above re my second income - I often pay people cash for help with the services I provide and obtain a simple signed receipt from them. Is this a valid method of "documenting" these expenses. I obvioulsly am assuming that I will not have to pay tax on monies I have paid out in connection with…
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Paying national insurance on 2nd income
I work full-time for an employer and so pay my taxes and NI via PAYE. In addition to this income I also do some work for other companies when my services are required (i.e this second income is not regular or predictable). I intend to pay my tax on this income separately from my first so taht my PAYE code is unaffected. I…
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Self Employed,Tax help books ?
Hi Can anyone suggest a book that helps with the things self employed people can claim tax relief on ? Thanks sue
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confused about tax code change
Hi, been reading the getting out of debt threads, but I think this is one for you guys. I had nicely balanced my budget and am well on my way out of £6k debt. However - I logged onto internet banking this morning (payday) to find myself short on pay. Our accounts lady said the Inland Revenue had changed my tax code. I just…
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Capital Gains tax on second property
If you purchase a second property and let it you can offset your mortgage interest against your profit. If you purchase a second property and don't let it you are allowed to offset the cost of certain improvements against your profit (the increase in value which is taxed as a capital gain when you sell). Does anyone know…
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Saving tax PAYE
Hi i am looking for advice on how to save tax. I am an Electrician with the local Housing Association. I see you can claim back for washing your uniform at home is there anything else i could claim for. I.E tools etc. Thanks Neil
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Tax slalom
I have come to a pleasant point in my life where for the first time I may have the opportunity to fend off the tax man. Not sure how to start and maybe someone out there can advise me. I am about to have 4 income streams the first will be my job, the second will be a pension plan that is about to start paying out, the…
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Tax on Redundancy Payment
A friend is to receive a redundancy payment of £57,500 before Xmas, they are already in the 40% tax bracket. The first £30,000 is tax free and therefore, they assumed they would be paying 40% tax on the remaining £27,500. However, they have been told by their HR dept that if they do not take the whole payment until January…
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Saving £5000 tax a year - Is it a lie
Anyone heard of http://www.working-from-home-today.co.uk/ They are selling a book that contains tips about saving about £5000 a year... looks exaggeration to me...
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Car Allowance gone wrong!?!
:confused: I recently opted out of my company car to receive a car allowance of £450 per month. I estimated after tax that would equate to about £350, but when tax has been deducted I've only come away with £260!?!? I don't claim mileage as i have a fuel card where i pay back my personal mileage at 7p per mile. Where am I…
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Can anyone help with a basic calculation please?
apologies as this is a really simple question, but I've tried a few calculations, but not sure if i'm doing the right sums..... I'm considering reducing my hours and want to calculate what my new monthly take home salary will be. If I reduce to 30 hours per week, my new pre-tax annual salary will be £20,250 (worked out on…
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Tax Debt Help!
My friend owes the tax man around £11,000 from his old business, he doesn't have any where near that money, they have been ringing him up recently for the full payment and today he got a letter stating payment should be made by the 31st jan and if he cannot pay recovery proceedings will take place is there anyone in a…
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VAT on 2nd hand goods
On Tues 15/11/05 I attended an online auction on https://www.bidspotter.com for sale of second hand audio equipment from Whitfield Studio, London. Sadly it seems that the studio closed down for money problems and all items have been auctioned, I guess by the receivers. Upon registering on line I checked all small prints…
