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Pension tax relief - is this right?
Last financial year I reviewed my pension and decided to top up a bit. So I made 2 lump sum payments of £3000 into my pension scheme (from my net salary pay over the year. I am a higher rate tax payer so as I understand it I am able able to claim 40% tax relief on the £6000. I have already recieved 22% for the basic rate…
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Chargeable gain?
Can anyone explain in layman's terms what a 'chargeable gain' is. I can't work out if it is income tax or CGT. It's not something I've come across before, but, on sorting out my parents in laws finances,I've come across some recent chargeable gains certificates from a policy they have with Standard Life. They have a lot of…
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"Cheap air fares"
Hi everybody, Having trawled the net looking for flights we could afford to Spain, we eventually found a flight for £58 return. BUT when we tried to book on line we found that the TAX & charges amounted to over £60. How can they possibly justify this amount. Who gets this money, & what do they do with it that benefits us.…
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this 10p tax issue.....
can anyone explain ( very simply) what its about. iam 30 years old, single, no kids, with mortgage earning £27k how will i be affected?
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Losses through share dealing, are they tax deductable?
Hi guys, I have been dealing in shares using CFDs, and I know that any profits made over a certain amount are subject to tax. I have also been told that any losses made means that you can end up offsetting against the tax you pay on your normal income? Is this true? During the tax year 07-08 I have made a (large) net loss…
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Council Tax rebranding rejected - next steps advice needed.
Having perused this site, it appeared fairly cut and dried to me that my parents were one band too high with regards to Council Tax. Having lodged a request for a review, the decision has been upheld and they remain in band D - properties valued £68,000 - £88,000 in April 1991. However, they bought the house in 1988 for a…
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Tax on savings - confused!
I'm a little confused as to how much I'm likely to pay tax-wise on my personal savings. Is it like this: Savings + Salary < £2,230 taxed at 10% Savings + Salary < £34,600 taxed at 20% Savings + Salary > £34,600 taxed at 40% or this: Savings < £2,230 taxed at 10% Savings < £34,600 taxed at 20% Savings > £34,600 taxed at 40%…
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Self Assessment form
Hi, please could someone advise when I should receive a self assessment form for my tax. Thanks
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Claiming Childrens Tax Refund ?
hello first post here, just wondered if anyone here knows anything about this that i just came across: http://www.taxrebateservices.co.uk/child_tax_allowance.html Does anyone know how i can find about how to claim without using one of these rebate companys that take 30% fee ? Thanks
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P87 form for 2007/08?
Hi, I want to fill in the P87 form to claim back fuel costs, however the only one I can find is for 2006/07.. Can somebody direct me to the 2007/08 version? Cheers, Rune
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fuel allowances, so complicated!
Hi, first post! Have hunted around and cant find the answer. I am recently self-employed and I have an office at home and business premises (workshop). Some days I work from home and some days I go to the workshop depending on what needs to be done so I dont need to be at my workshop every single day, but heres the…
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Self employed - what happens next ?!
I was advised last year that i needed to be registered as self employed as i buy to sell online (used books) which i did but im unsure what happens now the year is up , # Will they contact me ? I know I am under £4k in profit, ive looked on-line but couldnt find any answers and just got myself worked up :o TIA mishka
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The great income tax cut (and national insurance raise)?
Not sure if this is the correct forum for this topic so feel free to move if need be. Mr Brown helpfully cut 2p of the basic rate (but abolished the 10p bracket(git) but i did hear that he'd also raised the national Insurance contributions too, which presumably would negate any cut in the income tax. Does someone know the…
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PAYE Tax, dumb ? need help!
Hi there, Last year I was out of work from April to September. I wasn't claiming any benefits during this period. Since September until now I've earned £10340.32 I've been taxed £1575.37, NI £853.93. How can I find out if this is correct? Can I work this out myself? Apologies for the dumb questions but I'm completely…
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Should my tax code change....
Hi there I am currently on maternity leave and my partner left when i was pregnant. I got three months full pay then the last 5 months have been smp. I am now being paid again and return to work next month so since i had my son i have had roughly 4 months of full pay. My question is, years ago i worked in payroll and i…
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Tax On 8hr A Week Job Advise Needed
This is the situation, my niece recently changed jobs, but her former employer did not want to lose her service and asked her to be working 8hrs a week, which she agreed and still doing at the moment. My dilemma is that her new job the tax code is 522L, also her old job which is now (8hrs a week) the tax code is still…
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tool allowance
i'm a tradesman employed by a factory. my employer provides tools that a tradesman wouldn't be expected to have such as drills ,jigsaws etc and also holesaws , stanley blades and hacksaw blades and i'm expected to provide my own basic tools. can i claim a tax allowance for this and if so how do i claim it and how much…
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Would I be entitled to tax rebate?
Hi there peeps, to cut a long story short, I worked for my employer for 20 years and never had any kind of rebate in all that time. In December 2007, our company was sold to an outside Group of Companies, new bosses, etc. I have not been given a P45 from my old employer nor a P60 (as of yet), we are having to re-sign new…
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Self Employment Issues!
Hi all, I registered as self employed last June and have been paying my National Insurance etc as required since then. However, i've had no work for three weeks now and have been advised to go to the Job Centre to get on to Job Seekers Allowance and find proper employment. My question is how do I de-register myself as Self…
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Have I made a terrible mistake??
Hi I have a full time job and registered as self employed for items I was selling on ebay. I fear that I have been quite laxed and made a big mistake. I have kept a record of purchases sales expenses etc and having sat and collated this I am worried that I have went above the VAT threshold of £61000. These are rough…
