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State Pension
My Mother has been asked to fill in a "short" tax return. Her income is state pension (which is paid gross, I think), private pension and investment income. She is a basic rate tax-payer. Because her state pension is paid every 4 weeks, the total she actually received in state pension during the tax year does not exactly…
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Money coming from Ireland in Euros
Hi, My partners' mother is due an inherited amount of money (E240,000) from the sale of land in Ireland, which is sitting in the bank over there. I have some questions if anyone can answer them as we know nothing about how this is done. Also the money is due to be shared out amongst her children and inevitably inheritance…
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P11d Company car calculation
How can I check the value of the car benefit on my P11d is correct?:confused: The figure is quite a bit higher than on my coding notice for 05/06 from the tax office. Is there an exact online checker I could use. Thank you
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Bad tax advice
I am worrying about my tax position and hope you can offer some advice. In January I paid an accountant £250 to do my husbands tax return. We bought a holiday home in Florida during the tax year which we had let out, and wanted to make sure we were paying the minimum necessary tax. When I first went to see him he did one…
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Cgt
Hi I bought an investment property two years ago for £40000.I am considering selling for £80000.I have not had the property rented out.How much capital gains is payable if sold for £80000?Can I claim the mortgage payments incurred for last two years against cgt?:confused:
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Gift of Money - How is it declared?
Apologies if this has been covered elsewhere. My sister-in-law wants to give us £10000. I am a higher rate taxpayer (only just mind) and my wife is still in the 22% tax bracket. Do I have to declare it to the Inland Revenue and if so, by what means? Would it be better in my name or my wife's for that matter? Will I have to…
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Quick (and silly) tax return question
Hi, ive just got a silly question about my tax return Its for the years 2005/2006 - does this mean 5th April 2005 to the 4th April 2006? Thanks :beer:
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CGT on Main Residence
Hi, Wondering if someone can give me some advice. I have been living with my brother (in his house) for the past 3.5 years. I bought my own place 2 months ago (it was a resposessed property, so i got it for below market value of £130k). Now living in the property for 2 months, I do not like it. I want to sell up and move…
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PPR and capital gains
how long do you need to own or live in a house to claim it as your PPR?
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bonus payment - tax?
hi ive just received my annual bonus letter, and it looks quite a healthy figure :beer: however, the letter doesnt say whether the payment is gross or net. reading the plan rules, it says "any payments made will be net of tax, national insurance or any other deductions" does that mean i get the whole amount advised on my…
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Can i avoid capital gain Tax
Hi Is there a way to avoid capital gain tax when selling property? Thanks in advance K
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First Time Tax Return
At the end of this financial year, I think I will have to fill out a self assessment tax return. This is because I have an account which pays interest gross and I know the interest paid out will be over my personal allowance. So do I have to fill in a tax return to see the tax I pay on this? I pay tax on all other…
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Tax relief for looking after an elderly relative??
Although I was born in Asia I came here in the 80s and am a British Citizen now. My elderly mother (in her 70s) has no relatives back home and I’ve sponsored here to come and live with me. Obviously she has no means of income (doesn’t claim any state pension) and I provide everything. Someone said to me that you can make a…
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Setting up my own company to avoid tax
I will shortly be starting full time employment, but I am under a contract for the first year. I don't know whether that officially makes me a 'contractor' or not, but will ask the company when I go back on Monday for one final chat before sealing the deal. Anyway, If I am a 'contractor' (whatever that means), I understand…
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Another CGT Question?
Good Morning everyone, An approximation of CGT to be paid on following would be much appreciated. Bought terrace of x 3 houses 4 years ago, (wanted 1 for our daughter but owner would'nt split), anyway rented out the other 2, have now decided to sell and trying to work out rough idea of how much CGT will be chargable on…
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Tax relife on a new van?
Whats the score, is there a set percentage or is to do with the value of the van?
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Tax From Website Advertising?
I'm hoping that I can get some advice on the following: I'm a PhD Student who gets a £12k maintenance grant a year. This is untaxed so I'm fairly sure but not certain this will have no bearing on the following. I have a website that gets quite a lot of traffic. A network of websites has offered to bring us into the network…
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Inheritance Tax - Confused
Hi there, I'm not sure if this is on the right board, so feel free to move it, mods, if need be. Thanks. Briefly, the story is that my father recently passed away and left all his assents jointly between me and my brother. He had a bungalow worth about £200,000 and about £40,000 in cash and premium bonds. All the above…
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CGT Calculation ????
I am a after a very broad ballpark figure on what my CGT liabibilty is likely to be. Or the rough formula and I can go thorugh the figures. Here is my current situation. 1/ A property thats my main residence 2/ Another Buy To let property brought for 84K in August 1999, Rented ever since. Never lived in. 3/ August 04…
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Council Tax on New Property
I'm living in a rented property which I moved into a few months ago, the property was brand newly built at the time. I have not yet paid any council tax or received any correspondence about it, furthermore I don't really know which council is appropriate (there are 3 in the area it could be). My letting agents assure us…
