-
help,setting up my own buisness.
hello,im a plumber and currently paye.i have been for the last 15 years. from april ive decided to finally go self employed.i will still be doing some work for my current firm,and i know they pay 20% tax from your invoice to them.i will also be taking on my own work,so i have a list of questions for you. 1 do i need an…
-
help,setting up my own buisness.
hello,im a plumber and currently paye.i have been for the last 15 years. from april ive decided to finally go self employed.i will still be doing some work for my current firm,and i know they pay 20% tax from your invoice to them.i will also be taking on my own work,so i have a list of questions for you. 1 do i need an…
-
AVCs can get me under 40% ??
I have had a good year and earned just under 40K this year so far, so I have decided to put my last 3 paychecks into AVCs totally. Can I deduct my pension and share contributions from the 40K to make sure I get under the 40% mark ? Is there a calculator anywhere I can use or is it a straightforward deduction from my gross…
-
I've been an idiot and not paid my tax - help!
Hi, I need some advice! I left the army (where obviously the pay office sorted all your tax out) a year and a half ago and since then have been working cash in hand. I know that I have been foolish but I want to get this paid before the HMRC come looking for me! What is my best course of action and does anyone know how…
-
AQA beginner- self assessment tax
I should be receiving my first payment from AQA in January. Can anyone help me with tax? I phoned up the tax office and told them I didn't have a clue what I had to do and she sent me out a form to fill in on small earning so I don't have to pay NI. This is just a part time job and I will only be earning about £30 a month.…
-
Self assessment advice
I'm starting to get to grips with my SA, I always have doubt that I miss out deductions though as I don't know rates and allowances beyond the most basic info. I could obviously pay an accoutant, but those I have been to see haven't impressed me much, namely laying down the law of what I can't claim, instead of what…
-
Cgt and second home
Whoops, I think I've missed a trick. Seven years ago we jointly bought a second home in England for retirement (#1). We rented out the house for two years then retired, moved into #1 as our main and only residence having sold our original property. We lived there for two years. To protect our retirement income we have…
-
Company car tax question re changes in April 08
Hi all. Newbie first post! :hello: I'm a new company car driver running a temporary car at the moment. Just been given the nod to order a new car and considering a BMW 118d for tax reasons. I understand clean cars will benefit from April 08 as cars with emissions under 120 CO2 will drop into bracket of 13%. Does this only…
-
Can I opt in to Self Assessment?
I calculated my tax at the end of financial year 06/07 (around end of May) and found that I had overpaid tax to HMRC in the region of £350. This was because i'd not used my tax allowance for three months as I was out of the country for 3 months doing VSO with zero income during that time. I've been asking for a refund…
-
Tax after retirement??
Hi...I have had an accountant for 23 years but will be retiring ? next year.Our income will consist of monthly superannuation cheque + interest from savings/investments...mainly isas.Do I need to keep him on at some expense or can I deal with my tax form myself?We will probably have a small higher tax bracket liability.…
-
do i need to fill in a tax return?
After some calculations in excel, it would appear I have paid several hundred pounds too much income tax on salary for 06-2007, as a result of starting work in july 2006 and not having correct tax code. However I have also underpaid tax on interest from savings and "owe" some money to hmrc. Overall it would seem I am owed…
-
How much better off with 20% band
Okay i decided to go through and do some sums to working out what the break even point was for being better off under the new tax scheme for the next tax year. When the figure was originally being kicked about the media were saying anyone earning over £17000 would be better off, however i don't think that is true now. Here…
-
Sell, Profit, Tax? Rent
Hi, I purchased under right to buy in April 2002. House was valued at £25k and I paid £13.2. I remortgaged an extra £6k for improvements (Windows, Central Heating). The current value is approx £100k. I earn £15k. I am considering selling up and renting a property closer to where I work. Would I be subject to Capital Gains…
-
Withdrawal of 10% tax band; some number-crunching please.
My husband has an index-linked pension which at the moment is £7495 p.a. His tax code is 245T. What difference will the withdrawal of the 10% tax band make to the amount of tax he has to pay? I hope I've given enough information, but please ask for more if necessary. Thanks in advance.
-
tax return, P11D and benefits
Hi, My Pax Code for 2007-008 is 385L which is worked out by taking my personal allowance and subtracting expeenses for medical/dental/personal accident insurance. This reduces my tax-free allowance to £3850. Does this mean that tax deductions due on these benefits have been factored into my tax-code and thus the figures…
-
P11D help
Hi All, I need an urgent advice on self assesment of income tax. I recevied a P11D for 2006/07 from my employer for Private Healthcare Insurace. I do not have any other income from any sources. This is my second yr in the UK and I am not much aware of the self assesment. I was told by a friend today that I got to declare…
-
Council Tax - I am on a war path (need some help though)
Basically my aunts house underwent refurbishment in October last year and being the nice person that I am, I decided to take charge of the project as she was not well and had left the country. I went with her to her local council and she spoke to one of the case workers who made us aware that she could get a 100% council…
-
2 part time jobs
hi can anyone help my son has 2 jobs first is 24 hours he worked this job all through uni second job is for 20 hours its what he went to uni for but they cannot take him on full time yet hopefully he will go full time for the second job shortly what tax sould he be paying thanks
-
Using all wife's tax allowance
Is there any reason why my pensions income cannot be paid directly to my wife's account so that we can use her personal tax allowance and 10% band rather than me pay 22% ?
-
Inheritance and Financial Acc. Query...
Wasn't sure where this fitted best so, have also posted this on the SAvings & Investing board……. My mother wants to gift each of her grandchildren some money in to her will. The amount is unlikely to be huge but likely to be significant (certainly for the grandchildren). Some background…………. We have discussed her wishes…