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HMRC Time of Response to letters
Hi all, First sorry if this is not in the right place as I am new to this! Any of you knowledgable people know if HRMC has any target or obligation of time to respond to a letter. Seem to remember in the good old days of the Inland Revenue (did I say that?) it was 15 working days? I had an adjustment to my 2005-6 SA…
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Tax Refunds for Parents with children born between 1985 and 2003!
Hi Everyone. I have been an active reader of this forum for quite a while and would like to share some information. Just recently the revenue has admitted that about 30% of us are paying too much tax and it holds millions of pounds worth of refunds which are unclaimed. I have the daily mail article that states this in PDF…
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Am I paying too much tax?
My mum saw my 'payslip' (if you can call it that) from a couple of weeks ago, and she said that she thinks I am paying too much income tax... so now I'm a bit worried that I am. I get paid every couple of weeks, no fortnight is ever the same, as I work different hours each week. The payslip Mum saw, I earned £467.60. From…
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Have i paid to much tax?
Hi i have been away travelling abroad for a year. I left mid november 2006 and returned ther just over a month ago. Now i was wondering if i have paid am i entitled to some tax back as i only owrked six months? i called a few ppl and am not sure how to go about it? i was told to fill in a p85 and p86, then i was told i…
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Changing bank account to non-tax payer R85
Hi all, Just wondered if anyone knows the answer to this. My OH currently recieves disability allowance, and so has an income of sorts. However, is this classed as income when it comes to trying to fill in R85 form in order to not pay tax on her bank accounts? Cheers, Rushy
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Rental income on property?
Hi, I would be grateful if anyone can help with my query. I wrote to the tax office but they weren't too helpful and did't answer my question..... My brother and I bought a property together which he now lives in with his wife. It is only mine and his names on the deeds and on the mortgage. I still live with my parents. Is…
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Do I need an accountant?
Hi I teach guitar and gig for a living as well as working for the local council. I'm just about to do my third tax return. I have an excel speadsheet of earnings and expenses and most reciepts for expenses. After expenses, my income was about 1,800. Should I bother to get an accountant to do my tax return? I'm pretty…
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Self employed - expenses
I do a small amount of self employed work for which, I have to use a computer. I have just upgraded my home pc and was wondering how much I can claim for as a legitimate business expense. The pc will be used for 90% private use and 10% approx for the self employed work. Can I claim the whole amount, a percentage or nothing…
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Foreign Earnings
My Chinese wife is currently living in China but will soon become resident in the UK (legally). The Hong-Kong company she is currently working for want her to do some remote support and consultancy work and she will get paid for this. But what are the pros and cons of either getting paid into a UK bank account or a Chinese…
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Vehicle required!
I have a problem. I am a standard rate tax payer, earning less than 35K per year from my day job. I also am a sole trader dealing in goods with a turnover over of approx 100K per year, but of that only 2% is actual profit. But my overheads are quite high on transport etc. I have a dilemma. I am now in the position of…
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mortgage interest tax relief against rental income question
Sorry, yet another mortgage interest tax relief against rental income question. Completed on a BTL property and PPR (house move) on the same day; all part of the same chain. BTL mortgage on the rented property and the deposit for the BTL property was effectively part of the mortgage on the PPR. So (Q1) am I right in…
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Savings account tax
Hoping this is the correct board. I need gross and income paid figures of deposits in a bank account. I have the bank deposit figures and wondered how to work it out. Is the tax deducted for an ordinary rate tax payer 22%? Therefore for a figure of £100 paid I would multiply by 22%, giving tax paid figure of £22 and gross…
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Capital Gains Tax
I bought a second house as an investment a year ago by mortgaging my home which was up until then mortgage free. My question is: can I set the interest I have paid on that mortgage against the CGT I will have to pay when I sell the second property.
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Double Income - Emergency Tax
Hello, I am after some advice on income tax / emergency tax. I am just finishing with one employer, The Army and have LOTS of leave to take, which means that after Christmas I won't need to be back in work, even though I will be paid up untill the 1st May 08. I have been offered a job which starts on the 7th Jan 08, which…
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Help with self-employment losses
I'm trying to help someone with their self-assessment form, but I'm a bit stuck. 2005-2006 they made a large profit and still owe approx £2000 in tax. 2006-2007 they've made a loss - is there any way they can claim this loss against the 2005-2006 profit and therefore reduce the amount they have to pay? I can't see how this…
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2007 / 2008 Tax Bands
Can anyone confirm how much you need to earn before you start paying 40% tax? Looking here : http://www.listentotaxman.com/index.php?isMarried=0&isWidow=0&isBlind=0&isStudent=0&calc=1&year=2007&age=0&add=0&taxcode=&ingr=39000&period=1&chart=0&payrise=0&gr=39000 Personal allowance 5,225 Starting Rate 0 - 2,230 Basic Rate…
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self-employed - mileage claims
Hello, I am self-employed and I have been working for a client over the last 3 months or so and claiming 40p per mile (under 10,000 miles) tax relief. I am about to undertake a new (self-employed) contract with another client next month. This may be a longer-term contract for my business - with little or no other clients…
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Parking Fees At Work
Hello there, This is my first post on the site so please be nice if I've posted this in the wrong section. As from 1st January 2008, I will be charged to park my car on site at my place of work. The fees will be £75 per quarter, amounting to £300 per annum. I am a subcontractor who is PAYE employed by a large facilities…
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Will I get tax 'back'? and when?
Hi everyone Not posted for ages sorry. Started new job in June 2007and since then been charged emergnecy tax code BRM1, it is my first and only job this year. Last month my code was changed to 522l which was loads better so I rang work to ask when I would get tax back. Payroll said I had to do a new p46 and tick the box…
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Road tax for foreigners and fuel prices petition
Hi all! Before I go any further, I hope this post is allowed. I've read the ts 'n' cs and it's not about P2P file sharing, advertising a product or inciting racial hatred. Should any board monitor disagree, please take what action is necessary, but please remember my intentions were honourable and kind! Ok, down to…
