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rental income, CGT and just a nightmare!
hi folks i'd be grateful if anyone can help me with a couple of queries as nothings ever simple is it? I jointly own a property with my brother and we have received rental income for this for 6 years now. However, since the first year of declaring this, i've always put 100% of the rental income down to myself as I looked…
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income abroad and tax returns for non domiciled uk resident
I have read a lot of posts but still do not seem to get an answer, wondering if someone could help? I have been working in UK on a work permit for 3 years now, which means i am a uk resident but not domiciled. I have some investements in my home country. As i understand, if i do not remit the income to UK from my…
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College fees - deductible?
I am currently studying ILEX Level 3 (Law) and for the first time this year I have had to pay my own fees which total about £600 (ouch). This study is directly related to my employment - is it a deductible item? Also, I have to pay a yearly fee to the ILEX body for membership which I have found on an IR schedule is…
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Help please!! Its all a muddle
Hi Im all in a muddle. I registered as Self employed in October 2004 as I started doing bodyshop parties. I wasnt working anywhere at this time. Although had been up until September 2004. Anyway I diddled around with doing some bodyshop parties and then mini iq parties (same kind of thing - partyplan) Didnt make any money…
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advice re -taxman
my 80 yr old mother and father in law have recieved a £100 fine for not completing a tax form for the year 2003. can this be right!
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Tax and cashback sites
I was wondering if it is better to take vouchers such as amazon etc from cashback sites rather than cheques. I am not a tax payer at the moment but was thinking for people like my husband who are. Would tax be payable on the voucher the same as if you took a cheque. Anyone know. Thanks in advance. Yours Calley
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van - buy or lease
Hi my husband is going to try self employment. He will be a sole trader. Is it better tax wise to buy a van (this would be secondhand) or to lease. Any advice appreciated.
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Can students claim their fee's as tax free?
http://forums.moneysavingexpert.com/showthread.html?t=132193&page=2
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tax query
will i pay tax on an expected claim payout for a mis- sold pension? Can anyone advise please?
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National Insurance Credits
Does anyone know the minimum number of years that one has to pay National Insurance to ensure that a full sstate pension (I know it is'nt much) is recieved at retirement? Also does being in full time education mean that you get a years "credit". Does this apply to post-graduate education as well (i.e. doing a PhD paid for…
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tax an ni amount...
every month the amount of tax and ni that is deducted from my wages increases and increaes. even if i dont do any over time they still take more :rolleyes:. If i do do overtime i end up getting paid 25p per hour :( . its getting to the stage now that my sister who is taking home 4k per year more than me is getting taxed…
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'Joining' accounts to escape Inheritance Tax?
Does anyone know if this should work (or conversely cannot work)? Joint accounts can be held by parents and their adult children - specifically the suriviving parent and her adult children? The interest paid on such an account is divided equally and the liability to income tax also at each person's marginal rates. If there…
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Inland Revenue Lost My Return
Hi All, I need guidance. I sent my return in the month of september by recorded delivery. I didn't heard any thing back from IR since the first week of january. In the first week of januray I recived a letter from IR explaning a dead line of 31st january to pay TAX. :confused: I called IR for this , they confirmed they…
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Inactive company, revenue informed. Self assessment?
Do I need to do self-assessment. I didn't think I did because I've informed the revenue that the company I'm director for is inactive. Just to be sure, is that correct?
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where do I mention the redundancy money?
hi have been sorting out my tax return - very straightforward normally but in the tax year I took redundancy and got a nice lump sum (on which I was taxed of course). I couldnt find where to put this on the online self assessment form! Can anyone help? thanks!
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What can be claimed as expenses
ok, got a few questions, bit long winded but would really appreciate your help :o when it comes to buying new equipment how do you claim that? it won't count for this year but for next year we'll have the cost of the new computer i'm on. we HAD to buy a new one as our old one just wouldn't play ball anymore, it was well…
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I need help ,but I am scared!!!
Please!! anyone in the tax profession I need professional advice on how to approach this problem as it is making me ill, can you please read my post on debtfree wannabe board " entitled I am on a virtual hamster wheel". How do I actually approach the problem,I dont know where to start. We know we are responsible for our…
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Help!! I'm Going Mad - Previous SA submission
Hi, I hope someone with good tax experience can help me figure out what is going on here. Mum asked me to look over last years payslips this weekend as she thought she had paid rather a lot of tax. Cue VERY unpleasant surprise - she's done enough overtime to make her a higher rate taxpayer. And I now have to do a…
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Tax on money received for buying house
Myself and my partner are about the receive a substantial amount of money for buying our first house. Is this likely to be taxed in any shape or form?
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expenses vs wear and tear allowance on rental property
Hi, I am confused (as usual) regarding the differences between general expenses for furnished rented property and the wear and tear allowance of 10%. Last year I replaced the windows, which were rotten, plus a lot of furniture, can I claim the costs of this in addition to the wear and tear allowance? If the expenses are…
