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Expenses. can i do this?
Hello everyone. My wife is self employed and does her own books. If i do her books can i charge her for the service ? also our car is in my name but my wife uses it to get to work more than i do. Can i charge her for the use of the car? If i give her an invoice and receipts and declare the extra income on my tax bill then…
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Council Tax exemption questions
2 questions, please. Does anyone know: a) If you move into a flat (alone) in the summer before you become a full-time student, and will not be working/earning in the two months preceding the beginnign of studies , does the Council sometimes begin your student exemption during that summer or does it have to begin on the…
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income tax on interest from savings
my husband and I are selling our house to move into a rented property. we will be putting around £120,000.00 in the bank to earn monthly interest as an additional income. can you tell me how much income tax we will have to pay on the interest we earn from our capital. we are both in empoyment earning over our taxable…
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CGT selling main home overseas?
Hello everybody, we (me and wife) are planning to sell our own flat in EU country - we lived in it for 10 years, then went to UK, and we have been UK residents for 2 years , living in rented house here. Our flat overseas was uninhabited since. The question is - do we need to pay CGT on it as it still is like our main home,…
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Registered 5 weeks ago as Self Employed. No confirmation yet
Hi all, I registered as self-employed (part-time freelance work) about 5 weeks ago online at https://www.workingforyourself.co.uk/selfemployed/form.asp I have my first pay cheque but am worried about cashing it in, as I don't know if HMRC received my online application or not. What do you suggest?
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online tax return no activation code with 1 week to go..questions
Hi I'm hoping someone might be able to help me over tax returns I recently registered for my tax returns, After HM Customs and Excise didn't seem to know about me. The quy said i would get extra time to submit my returns as it was so late, but there no mention of this in any letters I recieved, other than to say i had to…
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Do I have a disposal for CGT or stamp duty purposes?
Hello all - tax advice needed please! 8 years ago, I bought two student houses with a friend. Currently, both are owned equally by each of us. I would like to sell my interest in the houses, and my friend does not. Therefore, we are going to transfer house 1 into my name, and the house 2 into my friend's name. Will I have…
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Tax Return - Going it alone this yer - any advise..
Hi everyone, I work full time and run a small business alongside which I have done since 2003. Now.. I've always used an accountant to fill out my tax return but the cost of his fees increase year on year and the business hasn't made huge amounts of money. As I'm currently in the process of managing my money and paying off…
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My income is not taxable, so.......
........am I entitled to tax free interest on my savings? To elaborate - I play online poker for a living and under current UK law gambling winnings are not taxable. I was looking over this site and then it occured to me that although I make a comfortable living, I don't meet the income tax threshold of ~5k. As far as the…
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Sole Proprieter Tax Return advice
Hi Can anybody advise on the following Ist Year Accounts Return Capital Invested 11k, Capital Introduced up to April 5th 2007 , £1760.00 Commenced taxi service properly mid August 2006. I want to report 12 months accounts from Aug 1st year to 1st Aug year_next etc.. How would this be done based on the following. First…
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Car allowance and mileage rates
Hi, Im not very clued up on this subject, so Id be grateful for any info. I currently get a car allowance from work and a mileage rate of 18p per mile for business miles. I doubt that I will exceed the 10,000 business miles per year. After the end of the last tax year, I submitted a form to the IR with details of what…
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How far back can the taxman enquire in uk?
I have heard that it is six years. Does that mean from Jan 2008, they can start from 2002? Also, how long do you have to keep CGT records for? rgds BigAl123
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PAYE Coding notice
Morning, Just had a coding notice through the post. Previous tax code was 96T and my new one (got a new job in September) is 336T. I cant work out if this will make any difference to my monthly salary. Anyone Help? Thanks Martin
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how to sort out tax paying to much
how do we sort out tax my hubby has a job where he earns around 250 before tax a week hes paying nearly 60 a week tax and 16 pouds ni is this right if not who can we contact about it
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P45 / Signing off HELP!!
Hello! I was after some info in the most basic way possible please! Im starting work mid Jan,i should sign off the jobcentre the first week of Jan(as its new year ect) in the past I have had to wait weeks and weeks for my P45 to come threw,if the worst come to the worst and id have to wait say a month after my start date…
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One Bedroom House (terraced, semi-detached or end of terrace)
Grateful to hear any comments from anyone who has a One Bedroom House (mid terraced, semi-detached or even an end of terrace property) who is continuing fighting their Greater London Council for a reduction in their Council Tax from Band D to C. http://journals.aol.co.uk/clivesteuk/convincing-the-voa-listing-offic/ CSL…
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Car Tax Question
My car tax runs out on the 31-12-07 and I have several questions to ask in relation to this. 1. Is it possible to tax my car now so that the new disk will begin from the 31-12-07. 2. How much does it cost to tax a Rover 220 2 Litre private car. 3. What are the procedures in the tax office, do I need to fill a form in etc?…
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Can I save paying 40% tax on my rental income?
Hi, I jointly own (50/50) a property with my wife which we rent out to someone, but my wife is a non-tax payer and I am a 40% tax-payer. Therefore, I have to pay 40% on my half of the rental, while my wife pays nothing (as the amount she earns does not go above her free tax allowance). Am I allowed to "gift" my half of the…
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SAYE Capital Gains Tax
Hi I wonder if someone could look over my Capital gains calculations and tell me if they are correct. I have been saving £200 per month over 5 years in an approved SAYE for the company I work for. The option was for 4018 shares @£3.27 total cost £13,140 which consisted of 60 * £200 plus bonuses. The option matures in…
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Company vs private car tax prob?
Hello- long time lurker, first time poster! I have just inherited a small business from my parents who are now deceased. This means that I am something of a flailing newbie at tax affairs and am very much in the dark about where to find information. My accountant is baffling for Britain so I hope someone on here can clue…
