We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

We're aware that some users are experiencing technical issues which the team are working to resolve. Thank you for your patience.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Cutting tax

Archives for January 2006

Tax on Loans from Parents
Hi all, I would be most grateful if someone could advise me (or point me in the direction of a website) what the tax implications of this is. The short story. Parents have some money going spare. I have a largish mortgage. They have suggested that they lend me £50,000 over a period of 8 years, which I pay back, at an…
Car Allowance and claiming tax back
HI all, hope you can help. I have been receing a car allowance instead of a company car, out of choice. Basically i get 4000 a year as the allowance. I use a petrol card to pay for all my petrol, which work pay for and i then just recored my private mileage and pay 12p a mile back to the company. I have been told i can…
Can Anyone Help Sort Out My Girlfriend's Tax?
Hi all - hoping some tax person can help here. My girlfriend and I went away travelling in January 2004. We notified the inland revenue as we wouldn't be working any more that tax year and got a nice little tax refund in April 2004. We came back to the UK in October 2005 (nice long break! :D ) and we both started working…
Expenses that do not have tax relief
I have read in various places that certain expenses are allowed to be put through my new Professional Services Company. E.g., http://www.warr.co.uk/company-allowableexpenses.html Listed below are expenses that will be allowable to be paid by your Limited Company. Corporation Tax relief is available unless otherwise stated.…
Advice regarding paying tax
I understand from reading other posts that don't have to fill in a self assessment form unless one is posted out but I thought I should check this anyway. I currently run a website which is very busy and costs a fair few quid to run. Because of this we have banners and the odd product which we sell (we don't own the…
Higher rate taxpayer - interest?
Just realised that I've now become a higher rate tax payer (eek), been paying interest on my savings as per usual but been told that I need to pay more tax on the interest. Is this right...and what should I do? Total dunce on the tax front
Online Return - Shall I just take the Fine?
I know its my own fault for waiting until the last minute and I do not expect any sympathy (though it would be nice) In short my story is this. Have been doing Self Assesment for 4 years, using an accountant to do it, due to the fact I work for an American company and Stock Options and Share Save scheme are in Dollars not…
Leasing computer to my company
Any ideas on this? I have set up a PSC and obviously the company needs IT equipment, which I own in a personal capacity. Can I lease it to the company to reduce the tax burden my company faces?
Question: Been over paying tax on medical insurance i canceld 2 years ago.
Hi, Got my new tax code this week and found that it has company medical insurance on it, I have canceled this nearly 2 years ago because it was costing me more than i was getting out of it ( £15 a month for 1 dental claim every 6 months £12 each) Iv obviousely noty taken any notice of me last tax code (Stupid me) on thsi…
Submitting Tax Forms Online - how to prepare a rough draft?
I wonder if you can help. In the past I have used TaxCalc, and more recently Digita, to calculate my tax before completing the IR forms online. However, I note that this is not possible this year as TaxCalc does not include the relevant pages and Digita is only available free online. My question is, is it possible to use…
Question: is training tax deductable?
Hi. I am a full time employee and am studying for an MBA. I am paying for most of myself as the company will only pay about 20%. I understand that if the training is necessary for my current job - which it is - then its tax deductable. I have the admin details from the tax officwe but I was wondering if anyone would be…
When to submit tax return??
Am i right in thinking that any work done up to March 2006, the tax return should be in by this time in 2007?? has anyone got any good links from experience for company formation sites (trusted) and also further information on my best options?
Taxi Drivers - Help!
My OH is leaving the Services to become a self employed taxi driver. He will have a military pension. Will this be taxed at source, regardless of what he might earn as self employed? Also - cars. What will he be able to claim back from the Taxman. He needs to buy a car on HP for this new job. However, he is looking at the…
Taxing on rental income?
Hi, I am considering whether to fill a self assesment tax return. I have never filled one in before. I am employed (PAYE) I currently have 2 residential mortgages however i am receiving money for my second flat (let to a family memeber during week - i use at weekends). I understand i need to declare this additional income…
Higher tax allowance
Does anybody know if someone turns 65ys this year, that person is entitled to a higher personal allowance? Will the Income Tax people inform him of this or does he have to write to them? Thanks
Tax relief on Pensions since 2000
Hi, My husband is a higher rate tax payer but has not been claiming tax relief on his pension contrubutions since his 1st tax return in 2000. It is possible to get it from 2000 or have we lost it all? :confused: so annoyed that he missed it out, but can understand as pensions are complicated tax is complicated and the two…
How long to keep documentation
Hi there, I have several tax deduction certificates for various bank and savings account, dating back to about 1996. I'm going to scan them into electronic format, but do I need to keep the originals (bearing in mind I was 14 at the time, and the actual tax deducted was nil!) Cheers WoA
Wrong TAX Code??
Hello, Just this morning I have recieved a letter from the Inland Revinue stating my TAX code. I am pretty sure it is wrong though can somebody clarify it before I phone them? The code is: 508L The problem being I am a full time student and have been taxed £200-50 a month until I left (last pay slip should be in the post…
New Tax Codes
Has anyone else noticed on their new tax codes that the sneaky Inland Revenue are now trying to get your tax in advance twice ? If you have self assessment you have to make a payment towards next years tax at the end of January (next week eek) but now I have received my new tax code they have added an additional adjustment…
Capital Gains Tax on (old) House sale
Anybody help with this one? My mother inherited a house in her father's will in 1977 but the lady living in the house was given a lifetime interest in the property. The lady has recently died and I am helping mum to sell the house but have no idea what her liability for CGT is? The property is in poor condition but guess…

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

View All

Cutting tax

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free

Cutting tax

Discussion List

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free