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Sign written company vehicle-any tax advantage?
I'm considering downgrading my company vehicle to a Smart Car and having it covered in advertising for the business. Is there any tax benefit in my favour for advertising or will I just benefit from the lower P11D value?
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Hypothetical tax calculator
Is there such a thing? I am self employed.(newly) What I want to know though is how to work out how much money I need to be putting aside for my tax bill and I was just wondering if there was a basic calculator to give you an estimated figure???? Or do you just have to work it out taking off your personal allowance, then…
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Selling part of a garden and CGT
I bought a property in Jan 2005 for £220,000 as an investment. I now have planning permission to build another dwelling in part of the garden. I plan to sell this piece of land for 100K approx. Am I right in thinking there will be no CGT to pay in connection with this sale ? I plan to keep the existing house rented out…
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Inheritance tax and a discretionary trust fund
Mary (my Mother-in-law), has 6 children, all living. Her will asks that her estate is divided equally between her children. 5 children will receive their share of the estate, but the remaining share is to be placed in a discretionary will trust for the 6th child. Her assets probably amount to about £300,000 putting her…
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Whats the significance of the 30th Dec deadline
Hi Whats the significance of the deadline tonight - 30th Dec, for Self Assessment?
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IHT Tenants in Common
I am considering changing the ownership of my property I own with my wife to tenants in common from joint tenants to mitigate future IHT issues . I would appreciate any suggestions /comments ! Is there an economical way of actioning this change ? Any idea of legal costs ? Many Thanks Pawsforthought
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Inland Revenue say I owe them £300! Please help!
If this post is in the wrong forum then please do move it for me!! Right, this post is going to be a long one so i apologise in advance. I am letting you all know now so you may go and get yourselves a cup of tea (or drink of choice) for whilst you read and contemplate your response to me! I do need advice as I now do not…
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Private Car and Fuel // Tax Return Headache
Be great if someone can help me out here. I've been through the similar posts, and on google most of the morning and can't seem to find the specific advice I need. The situation is: - employed full time by a UK employer - I take a car allowance instead of company car and drive an older, less "bling", cheap to run Golf 1.9…
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Selling a Buy to Let
I have a flat which I currently rent out. I haven't told the tax man as I haven't made any profit from it yet. I do know I should though. My question is: If I sell it will the Inland Revenue get told about the sale for Capital Gains Tax purposes? If so, do I pay it before or wait until they send me a tax return? My reason…
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Income tax on compensation payment ?
My employer is changing our pay from weekly to monthly payments and has offered a token sum as compensation. Under the circumstances, it is a generous gesture (in thought only, not amount), however, there is an indication that the amount payable is likely to be diminished by the footnote on the letter......... "the…
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Changing NI Details
Hello everyone I'm not sure if thsi is the right place for my question, but I only just noticed that on my NI Card there isn't a space between my first name and my middle name. It's not really a big deal,but is it possible that to have it changed and if so how? Thanks! :rudolf:
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Loan to pay for house - tax issues?
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Wedding Gift to Daughter
My daughter is getting married next year. It's a small wedding so we intend giving her money to put towards a mortgage. I understand that my husband and I can give her a £3,000 gift in any tax year. Does that mean that my husband and I can give her £6,000 in total from our joint savings account - £3K from me and £3K from…
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They have lost my NI details.
I tried reading the details of my P60 to my 'local' tax office and they failed to recognise my NI number or my name. This is rather worrying as I have been in the same job for fifteen years. I don't have a passport nor a photo ID driving licence. I have never made any queries regarding my NI number until now. I don't claim…
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Capital Gains Advice for a Pensioner
Can anyone out there help a new pensioner please? I have owned my aunt's house since 1992. She lived in it until 2000 and then I rented it out via an agency. Now that I am retired and paying only basic tax again, I want to sell the house and use the proceeds to supplement my retirement pension. It is worth about £100.000…
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Wifes NICs Help needed please
Hi all Hope this is in the right forum. Thanks in advance Catch
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Storage costs allowable re rented property?
Has anyone experience of this? Our taxman is refusing to accept that storage costs incurred on a rented property (owned by us) are allowable. Our house was being rented out when my job took me overseas. The situation was that the property was available to let either furnished or unfurnished. In the event, the tenants…
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Inheritance Tax
Unfortunetly, my grandad passed away a couple of weeks ago. It has been decided to leave everything to be sorted until the new year, but how does inheritance tax apply? Is there a set percentage? Is there a website for further guidance? Help much appreciated.
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Income tax calculator
Can any one help? Me and hubby are chnaging our lives and taking a step back. I want to change my job and retrain. But as you can see our debts are currently being paid off. I am looking at loosing two thirds of my salary!!!! So i am in the process of trying to work out what we can realistically affoard. does anyone know…
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Mileage claim with Fuel Card question
Hi tax experts, pleeeeaaase can anyone sheds some light on my rather wordy post! Sorry thought more info may be better than not enough! Situation is this: I'm a higher rate tax payer. My company provides me with fuel card, which I can use to purcase all fuel both for business and private use. They also pay me a monthly…
