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Sole trader - taxable expenses
quick question, appreciate any answers or a link to a thread that would have them! Now setting up as self employed sole trader, as well as usual daytime job, just want some advice on what you can claim as taxable expenses etc, need to purchase laptop (to be kept totally for work use) software needed to carry out the job…
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P11D & Company Car Mileage
Does anyone know what rate the tax is paid when a claim has been put through using the P11D. For example my girlfriend has just put a claim through for approx £4000.00. She has been told by one of her colleagues that she can expect to pay around 70% tax on this claim. Is this correct and if so how is it calculated. I would…
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Tax refund
Hi everybody, I left the UK in October 2006 to work in New Zealand for a year (I'll be back in November 07). I am due a tax refund but just had a couple of questions. Is it a normal R40 form that I fill out? On the R40 form at the top right corner it asks you for your reference and tax reference. Where do I get these…
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Ltd Co Question
I work through my own Ltd Co doing short term contract freelance work. The client's offices are 100 miles from my home (Ltd Co Office). I currently have a privately owned campervan that I station near to the clietn as a temporary office and tend to stay there 2-3 nights a week and work from there on and off during the week…
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Tax problem - working as freelancer, but treated as employee
Hello, this isn't really a tax cutting question - more of a where do I stand question - any advice greatfully received. When I started working for my employer we agreed it was to be on a freelance basis, but now I have realised that I should have been an employee. When I found the criteria for an employee (below) it was…
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Career Break - What about tax?
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Contractors CIS question
I put a query regarding CIS payments to sub contractors in the small biz section and was very kindly answered by Bean Counter. It turns out that my small business should have been deducting tax from contractors working for us. We have not been doing this, we have simply been paying their invoices and leaving them to pay…
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CGT? selling a buy to let property:help please!
Hi there, really need advice: have a small flat which I purchased for £42.000, (£32K mortgaged and £10K total of my savings)and is now valued around £70.000. Seriously thinking about selling up. Am a standard tax payer, what would my tax liabilities be? Thank you
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What does a band A property 'look' like?
Hi - I'm appealing for my rebanding of my property from band B to band A, but was wondering what criteria are used to decide. I'm in a 1-bed house, whereas my neighbours have 2 beds or more. I have a front room, then the kitchen, then the utility room (which doesn't count), and upstairs there's my bedroom and the bathroom.…
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Council Tax Monthly Payment
Hi Can anyone advise me please. I filled in a council Tax DD for £65 per month for 7 Months, but today I have had a letter saying that the council will take £82 for the first month then £77.00 for 5 months. Can I argue this its not my fault that the coucil cannot set up th dd in time surley. Please help Many thanks Gareth
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Letter saying no tax required?
Hi guys its my first post on this thread, i have searched but cant see the answer to my query! To put it simply i did some mystery shopping and was going to make a proper go of it but after telling HMRC i was doing it and carrying out 3 jobs i was bored and it wasnt worth the cash. I was then asked to do a tax return which…
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Council Tax allowance and current account.
I know you are allowed only £6000 in savings to be able to get council tax relief does what you have in a current account also count. I sometimes have as little as £500 and sometimes as much as £3000 because of it being a working account.
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Total Newbie - how to calculate for tax returns.
Ok, I am just a son, posting on behalf of his dad and I have quite a bit to ask. As far as Im aware, my dad files his tax return every year, but has to pay someone around £50-£100 to make some calculations. How is it possible for us to caclulate ourselves - and is it free or is there some charge (browsing momentarily over…
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Income Tax
I am about to rent out my property for the first time and am unsure about what is tax deductable. For example, I think mortgage payments are but am unsure about house insurance. Also, when should I inform the Inland revenue of my income and when would the tax payment be due? Thanks
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Ltd Company
Could someone please tell me in LAY terms what the benifits will be by going LTD, theres only me in the business but my wife is company sec.
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transferring funds from abroad
hello, need some advice on transferring funds from abroad. My mum who lives abroad and has never been to the UK would like to give me as gift a fairly large amount of money since I will be buying a property here. What would be the best way of transferring the funds over and would I be taxed on receiving it? Should I get…
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40 years of working & NI contributions
I heard someone saying that once you have worked 40 years non-stop, then you can stop paying NI contributions until you retire. This sounds fishy to me, but would be wonderful if it was true. Can someone out there confirm or deny this please. If it is true, then how does one go about it? Thank you:o
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Owed Tax
Hi everyone, I've just got my monthy payslip back and instead of being deducted my usual £5ish in tax there is nothing in this column. In the overall earnings and deductions column under tax it says £97-. I presume this means i am owed £97 back. As i am a student and i work weekends only it seems i dont have to pay tax at…
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Being self employed with two jobs - low earnings!
Hi there, would appreciate any advice! Basically I'm self employed for two jobs. I've declared myself as on a low income, meaning I don't have to pay NI. However I am paying tax on my second job, which is emergency tax by the looks of things. All together I'd say I'm earning on average about £390 a month. I believe, though…
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Transfer of Title to reduce possible CGT
I need advice/ information please. I am married and am a British citizen. My husband is South African but lives and works in England. We have a flat that we purchased in joint names but now we want to buy a house. We don't want to sell the flat yet and would like to let it out. However in a few years time we would have to…
