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Tax Investigation - LONG post
Edited to remove details
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Saving on inheritance tax?
Is this a realistic means to save inheritance tax? My elderly parents have assets that would attract inheritance tax. What would be the implications of - a) Selling my house, which is too far away from my work b) Buying my parents holiday cottage from them at a fair market price (it's essentially unmodernised since being…
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How to pay a tax with no income???
For those of you out there that have a partner who stays at home and looks after the children, this may be of interest. The Council Tax regime is unfair on a number of people I understand that this is not meant to be an income related tax – but after looking at the list of exemptions for people who do not have to pay it,…
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Tax Credit inequality
We all know the problems the tax credit system has experienced. As with all things, if it worked correctly we would all be much happier. However, even if the system worked 100% correctly, there is a key element that needs attention. Below is a letter I am going to send to my MP, the House of Commons and the House of Lords.…
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reducing tax on my bonus?!
I am about to move jobs and will be getting a sign-on bonus – now as a high rate tax payer I am wondering if there is anyway for me to reduce my tax liability on this lump sum? Any ideas guys. Much appreciate – if someone does actually come up with something to save me a good whack I will more than happily send a some…
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Slightly unsure what to do/where to go
This probally isn't even the right place to post this >.< I was taxed £130 when I was 17 and working, and have been told I can claim this back? But i'm really unsure where to go, or how to go about it, even what I need! Can anyone advise me at all? I may as well try and claim it back - £130 is quite a bit of money for me :(
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would i pay tax and NI on my Public service pension if i went to live permanently USA
I am 53 with an empoyee pension from the public sector. Does anyone know if I would have to pay tax and or national insurance in the UK on that pension if I retired to the USA, where my son, daughter in law and my grandchildren live?
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Self employed - buying new car help
I am currently thinking of buying a new car and have been told that I can claim tax back on the sale of my current car. If the car I am buying is for £12'000, and I get £7500 part exchange for my current car, how much tax relief would I get? Can anyone point me in the direction of a website that explains this as I find it…
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tax queries
hi tony. i am a self employed sub contractor and i do not run or own a busines,im the building trade earning less than £15,000 a year, can i claim anything back on my car insurance. and is it possible to claim anything back for my partner/girlfriend for doing my invoices and paperwork. And i got sum tools from a car boot…
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Self Assessment Help Needed
When should I get a self assesment form. If I started working for myself in Jan 2005, should I have recieved one by now. I'm getting very worried about this, can anyone put the record straight and advise me. thxs
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£60k loan or gift?
Hi, Possibly have this in the wrong section, please move it if need be admin...sorry!? We have £60k left on our mortgage and our parents are offering to give us the £60k to pay off the bank and we instead pay them back monthly with no interest etc. I’m worried about the taxman! What’s best (i.e. less penalties), declare it…
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Offshore Investment Funds
Hi everyone, newbie here.:j Please could you confirm/refute my understanding on the tax implications in this area. I am a UK taxpayer/resident and I'm thinking of investing on some offshore funds registered in British Virgin Islands. These funds don't distribute income. Am I right in saying that I will only pay Income tax…
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£270,000 loan - needs projections!
Hello My father & I met the bank manager today and were asking for a business loan of £270,00. We have been given rough figures - I would like advice on these listed ( thanks ) It has been split into 1. loan over 180 months for £170,000 @ 7.5% with an admin fee of £2,890.00 2. mortgage the business pays ( something to do…
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moving abroad and wages query
Can anyone help or at least point us in the right direction? My husband and i are moving to Cyprus to be nearer family and his smallish UK employer has agreed (in principle) he can continue to work remotely from there. He is a 40% UK tax payer (just) and we're not sure if he would/should continue paying tax here or there?…
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Capital Gains Tax
Hello I am in the process of splitting with my partner. Her and her sister are buying me out of my share of the house we own. The house mortgage was 49k plus secured loan of £16k debts were 30k. I am going to get 17k equity (it's what I agreed). The house was valued at £130k. They took out a £110k mortgage will I have to…
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When to get an Accountant? or DIY?
Hi all I am interested in finding out when people tend to put their tax affairs in the hands of accountants, and what the limits of DIY tax accounting are? My situation is that Mr CF and I are currently living abroad (NZ) and are no longer considered resident in the UK. We still have a number of investments and assets in…
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Taxing Times 4 Article Discussion Area
This thread is specifically to discuss the content of the Taxing Times 4 Article To discuss or ask a question about the article: click reply
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Dividends Vs. Wages
OK if I owned a company and paid its directors a low wage £6,000 then a high dividend pay of £9,000. What would the problems be associated?
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Potential new job- salary after tax etc?
Hi, My partner is thinking of applying for a new job which has a pension of 6%. The salary is: £27,622. What would be the monthly net salary after the pension, NI and income tax are deducted?
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Unique Taxpayer Reference
All, I think I have to fill a tax return for the past year. The problem is I have never done one and I have not received the form from HMRC, how do i go about doing it? I tried to do it online today but dont have the bloody UTR number. Can someone tell me what to do?