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Announcement:
Hi everybody :) I'm sure that many of you will have noticed that the search facility is currently not working, not even after the recent maintenance shut down. You can use google to specifically search MSE. Use... site:moneysavingexpert.com YOUR_SEARCH_WORD HTH :)
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VAT receipts
Not sure where to post this, but guessed here is a good start. My company pays me a mileage allowance for travelling between sites for meetings. They now insist I provide receipts in order that they can claim back the VAT on my petrol - most of which I use for private use. I did not think it was possible to claim back tax…
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Should I pay a company to see if I'm owed tax refund?
Am a member of teaching union and have got a form through post saying that I can use a company called tax buddies to see if I'm owed any tax back. They take a 40% cut of anything that I get back but if I owe tax Mr Tax man doesn't find out. I could go direct but not really sure of how to go about it plus chance that I…
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Maternity Allowance and Class 2 NI Contributions
Hi there, I am expecting a baby in April and have applied for Maternity Allowance. I am self employed and hold a small earnings certificate - and don't pay Class 2 NI contributions. I have received my Maternity Allowance certificate back, which says i am entitled to £27 week. Unfortunately i didn't realise that if i had…
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JSA Taxable income refund?
Hi All Quick question! Basically I havent had a job for a few years and was untill recently on jobseekers. Now I have a job and I've received a letter from the jobcentre saying they have "paid a total of £776.40" taxable income. Now as I only have 2 months pay (roughly £1000 pm) left before the start of the new tax year,…
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Opting out of company car scheme
Hi, I've recently opted out of my company car scheme and now have a monthy allowance of £550 before tax. As my salary takes me into the 40% tax bracket I have to pay 40% of the £550 I receive. Is this correct or is there a way of reducing the tax I pay on my car allowance? I've looked at leasing a car but as I do over…
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Basic CGT question
I own a number of different shares in various ex-building societies (and one ex-mutual insurance company). I want to get on top of where I stand vis a vis CGT, and my question is very basic. How do I calculate the original cost/value of these shares? Is there a resource somewhere that I can look up that can tell me the…
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Council Tax re-claim
Need urgent info or advice: I have a court date next week having found I'm in the wrong band and can prove this. But: 1. the Valuation officers have appointed a Tax solicitor to act for them in the hearing. 2. They claim I did not object and make a claim by the cut off date of 1993 as in the law, and as such my claim is…
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Allowed expenses for teachers?
Just speaking to a primary teacher about the costs they incur as part of their job, loads of stationery and costs involved in attending courses. It's got to the point that the cost of this is running to hundreds of pounds a year so I'm trying to find out if there is any tax relief available. Am compiling a list of expenses…
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When does a business expense become a benefit in kind?
Q. When does a business expense become a benefit in kind in the eyes of the taxman? What I mean is, if I take a customer out, the meal, drinks, club entry, taxis home etc are a legitimate business expense and so they go on the expenses. What if the club requires an annual membership fee, would that be classified as a…
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Setting up a ltd company to save paying umbrella company fees
HI. We are currently setting up a ltd company. my hubby works thro an agency and an umbrella company pay him minus thier fee's etc.. i need a few things clearing up: if he withdraws a minumum salary/wage of say £100 will he be taxed on just this? do we get taxed on the rest of it, and if so when? Can we pay out him and me…
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I got tax back!
Woo hoo! Received a letter months ago about overpaid tax from 2005 filled it in...forgot...postie delivered me a cheque for nearly £600 this morning (nearly kissed him but he was halfway up the street and i was in my pj's!) any way i was wondering what the most tax anyone on here had managed to get back? Not by anything…
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Let the taxman pay your children's school fees
A link in another thread caught my eye and I would appreciate some advice / thoughts on how this works. The original thread is here http://forums.moneysavingexpert.com/showthread.html?t=732365 and the link to the article is here http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/01/13/cmfees13.xml My situation is…
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No Tax Record??
Hi I wondered if any one could help me with this one as i keep running into a brick wall I worked for a company (A) for a year and paid my tax every week and the owners and I were friends and i wasn't really bothered about a payslip as long as i got my money. When i left i was told that they would let me know when my P45…
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Self Employed Student Loan Repayments
Hi everyone. I posted this on the student board but its dead over there. I took out my student loans after august 1998. I'm about to become self employed with an expected income over the £15000 threshold. My income will vary from week to week. I understand that my SL repayment will be made after 31 Jan along with my tax…
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PAYE and IT Contracting
HI, I'm working as an IT contractor under my own ltd company I setup last August. I'm seeing my accountant in March to work out my tax due etc.. I've earned around 5,000 + VAT per month (voluntary VAT registered) over the last 6 months. Prior to that I was in full-time employment elsewhere. I've been doing my VAT returns…
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cgt
my son has a property that he rents out with no morgage never lived in the property owned 3 years 3 months after tenant leaves the property in june thinking of selling he give £75000 for the house will be selling for £127000 can anyone let him know how much cgt he will have to pay be very greatful
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Council Tax Refund for old property?
Hi I recently used the sites suggested on MSE to calculate the council tax band we are currently in and it is correct, however I thought out of interest I would run through the same exercise for our previous property (we moved December 2006) and yep you guessed it - Wrong bracket for 8 Years :mad: !!! I don't suppose there…
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Limited company tax advice
Hello, I am in a position whereby i have sold a business and now have cash in the bank. However, it is a limited company and therefore i cannot take it straight out without paying tax twice. I am buying a property for which i want to use this money. I was going to buy it in the company name to avoid paying tax twice.…
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Paying capital gains after selling a house??
If we have a house which we let out as a holiday let whilst we rent another house-will we pay capital gains tax when we come to sell it?
