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Cutting tax

Archives for March 2008

Have HMRC broken any rules here?
Im really hoping someone can help me out with this one, not even sure if there is anything that can be done, but it really feels like there SHOULD be! Quite a few of these details are sketchy - this is deliberate, but I think the pertinent details are here. Anyway, the background: I owe around £7k in backtax. I hold my…
Transferring children's money
My kids have some money (it is theirs from Grandparents) in a Nationwide Smart account from which money can be transferred into my Flexaccount. I want to put some of their money into a higher rate deposit account with me as trustee. In the past I have taken them to the branch to get cheques to send on to another building…
Tax Code 2008/9
Should I have received this code number by now? I am a non taxpayer and turn 65 in November. Will I get the new £9030 allowance from 5 April or will I have to wait till the next tax year?
Don't forget to buy your stamps before 7th April!!
Stamp prices must affect all small businesses. We've got until next week as small businesses to stock up or face quite substantial price hikes, especially on second class mail. Costco is currently selling stamps below Post Office prices - eg 60 first class (standard letter) stamps for £19.29. They also sell second class…
Paying back incomplete tax years, is it worth it?
I have a letter from Jan 2004 asking if i want to pay back a total of £377.95 from 2 years of incomplete tax years and hubby has one from dec 2003 asking if he wants to pay back £290.40 from one year. We have no spare money and would have to borrow to pay it and the deadline is friday! EEKKKK! Should we borrow and pay back…
Should we get a text accountant??
I earn £65k, my partner £24k. We have one house we live in and a flat we are trying to rent out for £400pcm. We have two mortgages, totalling approx £190k (£120k for the house £70k for the flat). In a usual year we would get approx bonus of £6k (me) £2k (partner) take home. We both have our own cars which we do limited…
Help please! Library has no house price archives
Can anyone direct me as to where i can obtain house price archives going back to 1991. My local library does not hold archived property sales that far back. I have rung a couple of estate agents and they dont have any either. Also rang the property newspaper departments, and to no avail. Any suggestions would be great.…
Help needed - paid too much income tax.
Hi, I have been reading up on similar stories but am not sure if I understand really what was said. I started my first job in July 07 and my salary was £13,990 but then went up to £14,270 a few months later, the job was only temporary and finished a week ago. I was told by a friend that until you earn roughly £5000 a year…
Will I Get Tax Back
I started a Part time Job on the 1st Of March after not working for 10 years. (Living abroad and having children) I was taxed in my Monthly wage and was wondering will I get this back as I did not use any of my tax allowance last year and if so will I have to claim it or will it be refunded through my employer. Tax code is…
Update on tax appeal..
Well rung after getting my invalid notice and having no questionnire to fill in, the man i spoke to said he would send another form out and go from there, we had quite a long chat and he then said would i prefer to write my invalid letter instead?? i said i had no idea and they were supposed to tell me what to do! I have…
Think I'm entitled to tax refund, please help!
I'm a recent graduate and started working on October 8th 2007. My salery is 24000 per annum, however I have only worked since October (2 days short of 6 months this tax year). My tax code is 552L. I have been paying tax and NI every month, 316.50 in tax and 172.33 National insurance. So that's 2932.98 in total. hoever I…
help inland revenue sent baliffs any advice
Hi people i used to work for myself a couple of years ago in the building game under the cis sceme my taxes where payed as i went along each week at 21% of what i earned. well in the end the contract ended and bits and bobs of worked popped up but not enough to keep me ad my family going so i eneded up lossing my house…
Hosting Foreign Students and tax implications
I will soon be hosting foreign students, providing full board and a set number of hours of English tuition. My question is this: Will the money I earn be exempt from tax under the rent a room scheme (limit £4250 - I think) or do I have to pay tax as I am providing full board and tuition? Do I have to register as…
Inheritance tax not 600K ???
As a recently bereaved relative it has been brought to my notice by one of the executors of the will that the 600K limit does not apply as the first parent to die did so nearly 20 yrs ago, and has received paperwork from HMRC with a sliding scale involved. Is this correct info or has HMRC been sending out old information ?…
Band Deposits - Not sure if I have to declare this or not??
Hello my partner is in a band; it started out for fun but over the past (tax) year they have played some gigs and got paid (I know he has to declare his share of the band earnings on his tax return). What I need to know is this - when someone books the band and pays a deposit, the cheque is made out to me. As soon as the…
Can I claim back overpaid NICs or not?
I think I have overpaid national insurance in the year 07/08 but am not sure a) if I have or b) if I can claim a refund. Basically for the first 3 months of the tax year I was a student so my contributions have been based on working 12 months when I have in fact only worked 9 months. In a nutshell, someone who earned the…
Is this tax fraud...?
Hi everyone... A while back a lady was negligent in her driving and caused damage to my car whilst I was legitimately parked at the side of the road. She was insistent that she did not want to go through her insurance company and she would pay for the damage herself... I got a quote for the damage caused and she gave me a…
mystery shopping tax advice
Hi, I started doing mystery shopping last April and have registered with the inland revenue, I am a bit confused do the inland revenue send me a self assessment form, and if so when can should i receive it. Also when filling the form in if I have visited a resuturant and the company have provided me with a spending limit…
Tax Thresholds / Bonuses
Hi, I've just been told I will be getting an end of year bonus from work, and it will be paid at the end of April. With the bonus added to the monthly pay, it will mean my April paycheck will fall into the 40% category instead of the usual 20%. What I'm wondering is how that works in terms of claiming the extra tax back on…
End of tax year question
im new to this whole business and dont know how the system works. I have an accountant that does the taxes for me and everything. I have my own LTD company in IT and only me in it, so working for myself if you will. This will be my first full year in the business of my own company. roughly speaking, how much would you…

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Cutting tax

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