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Company car tax
I now have the option of taking a company car up to a monthly equivalent allowance of £375pm-If I choose a car costing over the £375pm it says the additional amount can be set off against my personal tax code. So if I choose a car at say £475pm £100 over my allowance each month how is this £100 set off against my tax? I am…
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Advice on 'Gifted Deposit' please
I have a BTL property worth approx £120k (although they do take a few months to sell). I need to raise some quick cash and decided I would sell for £100k. I have been asked by a potential buyer if I would consider an offer of £120k with a £20k gifted deposit. ie I get my £100k and they wont have to put down a deposit. What…
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Tax Relief On Maintenance Payments
Hi , does anyone know if its possible to claim tax relief on mainenance payments?
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Advice regarding laundry expense claim
Upon reading the threads regarding washing work uniform at home, I sent a a letter to the tax office in which they replied back stating that they have sent a letter to my empoters H/O. But this was 4 months ago so I wrote to the tax office again and they said that they haven't received the information from my employer yet…
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2007/08 high rate tax
Can some one help me with what the 2007/08 high rate tax slab is? Any ideas on 2008/09 high rate tax slabs would be appreciable. Thanks a ton
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Working after retirement
My husband retired a few months ago and has his State Pension plus Company Pension. We are still trying to get the correct tax code sorted out for his pensions as his P45 was lost in the post, but that's another story! He has been asked to take on occasional work for his previous employer and they will deduct tax as on…
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Self Employed claiming tax back/defer
I wonder if anyone can help me. I am due to enter a self employed tax return for 2006-2007 in which I will have tax to pay as I made a profit. However so far this year 2007-2008 my business has made a loss. 2 questions: Can I reduce the amount of tax paid in my 2006-2007 return based on the fact I am making a loss so far…
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Tax, age allowance for War Widow's Pension, Attendance allowance
I'm doing some tax and investment planning for a relative and want to make sure that I properly understand their tax situation. Please let me know if my understanding of the tax and age allowance effects of these pensions and allowances is right or wrong: War Widow's pension: tax free, doesn't count for age allowance…
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Small Small Business .. Tax Question
Hi, Just a quick question, hope some one can answer or help! I've got a job at the mo, paying around 18k a year, but was looking to earn a bit of money from helping people with there PCs. I've got a degree so fully qualified and was thinking of just starting in a small location near my home offering services such as…
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ebay business and tax
Hi having read a few month ago the need to register ebay activity with the tax man, I did just that. However I have done little else and wonder if I was right to register or not. I have a full time job and earn approx 36,000. I sell on ebay for a little extra holiday money. Although I have a high turnover maybe as much as…
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Valuation Officer Visit (Fife)
Hi all, long time reader first time poster. I had been following the council tax reduction thread for some time, as I was aware I had been paying more than my neighbours. Most posts in the council tax reduction success thread, seem to indicate that the only contact with the assesor was, only a letter or a phone call.…
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Unadopted Roads and claiming rebate
Our estate is 4 years old and the roads have not been adopted by the Council. The Council will have nothing to do with road cleaning, grid and sewer maintenance, dog warden, litter clearance and area up keep, lighting and anything else that we pay for via our Council Taxes. In fact, we have only just received a "Green Bin"…
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Tax on Voluntary Severance Payments
Hello, I have an option to take voluntary severance from my employer up to 31/12/07. My earnings to this date for tax year 07/08 should be approx £30,000 and I do not plan to work until the new tax year 08/09 My severance payment should be approx £110,000 before tax. Am I correct in saying that my employer will pay me the…
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mileage claims for Self Employed
Just wanting to check as I'm a bit of a newbie with all this tax stuff: I'm self employed with my own limited company. I have read I can claim 40p per mile up to 10,000 business miles, then 25p per business mile thereafter. So if I did exactly 10,000 business miles (for example) can I therefore take £4000 out of my…
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Tax deductible charity donations?
Hi can someone advise the tax benefits of a business donating to charity? I am hosting a charity ball and there will be an auction, of which I ma hoping local businesses will donate items/services - can these businesses then reduce their tax by the value they've donated? Do I have to give them something to document their…
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Self-employed and married - lower income tax?
Here's my situation: I am employed and self-employed at the same time. I earn £38k in my permanent employment and I expect around £19k profit from my self-employment this year. I do most of the work myself but my wife helps me mainly with administration from time to time (she's not paid for it). She has been temporarily…
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Tax on financial gifs.
Hi all. My mother has recently sold her home and is currently living in rented accomodation. She made 90k from the sale of the house and is looking to give me 70k so i can purchase the last 30% of my home (i currently only own 70% through a part ownership scheme with the developer.). This will only be for about 4-5 years…
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Reduce TAX bill by providing sponsorship?
If you are a business owner/self employed/etc, are there tax benefits to providing sponsorship to someone? Obviously, If you are sponsoring them goods that you have in stock, you are not selling them so reducing your closing stock and not paying tax on that item’s sale, but is there any further benefit? Cheers Ryan
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CGT query regarding second rental property
I've got myself in to a bit of confusion regarding CGT and what the liability is likely to be. I understand that the tax is liable on any gain made on the value of the property, but I am getting confused about the thresholds and also whether the fact that I have lived in both properties has an impact (I have read that it…
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Tax Free Share Ownership Plan
Hi All, My company has confirmed that we can do the following: Take our bonus and buy company shares and if held for five years they are completely tax free - ie income tax and CGT free as well as the entire bonus is invested tax free with no tax. SO that means tax saving on income tax when first invested and also…
