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Cutting tax
Archives for November 2007
Discussion List
calculating capital gains
Hi I am really struggling with the complexities of the I.R. rules and they won't tell me my capital gains liability because its not due til next year. Any advice on rough values would be very much appreciated. i just want to know roughly what the taxman will expect before I blow all the money. property purchased (joint…
Married persons tax allowance????
Hello, Quick question - has married persons tax allowance been abolished? My husband just phoned tax office because he is on a single persons tax allowance and has been told thats the way they do it now? Many thanks Gale
Tax on gifted shares
In 1992 my mother (now deceased) gifted me shares valued at £14,000. I would like to sell them in order to buy a home. Currently, they are worth £84,000. I pay the lower rate of PAYE tax. 1) If I sell in the current financial year, what is the capital gains tax likely to be? 2) If I sell after April 5 2008, would this…
Can you be employed AND self-employed at the same time?
I was thinking of applying for a job with AQA but I already have a full time day job working for a Ltd company, can I work part-time self-employed also? Would this also affect the tax I'd pay as I understand you can earn a certain amount before paying tax, would this have to include my day job wages or would that amount be…
Paying Anything Over 37K InTo Pension
I ve decided that I want to pay anything over 37K into my private pension through salary sacrifice. I m told that my bonus can be paid in and that I get immediate 40% tax relief on this by the company I work for so I ll be doing this this year. If I decide to pay the difference between my salary (50K), and 37 over the next…
No tax to pay on income of 10K From Savings
Has anyone else had a letter from HMRC saying : "You need to fill in a tax return if you recieve more then 10K from savings / investments" Does this mean that if you receive 9K in interest from savings you dont have to pay the additional 18% tax (higher rate tax payer), if you dont fill in a tax return?
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