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Emergency Tax AGGGHHHH!
I started a new job in February and for Feb and March was on Emergency tax coding, I just got April's payslip and although they now have the correct tax code I havent had the extra paid back (approx £200) is this because the end of the tax year has passed and will I have to claim it back from Inland Revenue?
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Help needed to save on tax
Hi All, Im newly registered to this site although I have viewed many times now, apologies if I have placed this in wrong section also. I'm currently in the process of taking over a company. My salary will double to £60,000 per annum and I have noticed the tax and National Insurance I will pay will be astronomical. I will…
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tax refund?
Hi i'm a student only working part time, with the new tax year and everything i did a lot of overtime this month and got paid £613, whereas normally i would get £310, yet i was charged 39 in tax and £21 in NI should i have been charged?
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Understanding a K tax coding
I am hoping someone will be able answer a question about my mum's tax code. She has been given a K code and I can't make any sense of the explanation on the tax office website. She gets her state pension and a SMALL personal pension giving her an income just over her tax free allowance ( she is 65) but this month she has…
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Private Car or Company Car
Hi, I was wondering if anybody can give me some advice. My husband is about to become a Director as part of a large optical franchise and we have had lots of people trying to give us helpful advice on tax, but as helpful as they have tried to be, they have left us confused as they haven't really told us how to go about…
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Age 65 age allowance and interest from capital
A friend is 65 this year and hopes to benefit from the tax age allowance . His earned income will be in the region of £22,000 but he has capital. He has maximum in isas and premium bonds. plus approx £40,000 in other investments. What are best long and short term investments, disregarded for taxation? Alternatively do…
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Tax Review Form P180T
After completing my first self assessment tax return last year, this year I've been sent a Tax Review Form P180T to complete instead. It looks straightforward enough, I'm unclear on just one thing: In the section for taxed savings and investment income, does anyone know if I have to list the net interest received…
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PAYE Tax code
I am presently drawing an occupational pension from a former employer and in the last tax year I have been taxed at BR M1. I also have a job and in the last tax year my code being 522T. So all my allowances were against my employment. However I received my employed payslip today and instead of a tax code it now states BR…
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Another Tax Question
This is my first post so I'll start by saying hello everyone first, Hello:hello: So i got my payslip this month and my tax code has changed from 522L to 543L which i understand is normal, but should i have been taxed and extra £42 over last month? I'm only on minimum wages and thats quite alot to lose when your trying to…
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Negotiating Contract of Offer.
A quick question please. I've underpaid tax (non-declaration of some small income) and have to pay £2818 plus £527 interest. HMRC now suggest a penalty of 15% on top. If I were to offer below the 15%, are HMRC then allowed to increase their proposed penalty or as they've already offered 15%, will that be the maximum they…
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help! tax i need to pay for 07/08
i havent done tax returns before as ive only started generating taxable income last year. i need to pay tax for last financial year. i asked my mum (usually knows her stuff) about this at the time and she said i could pay next financial year. is this correct? i will ring up tax office soon but wanted to ask on here first…
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tv game show winnings?
Hi All im 99% sure that anything won on a tv game show is tax free?? can anyone in the know confirm this please Thanks
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Higher Rate Tax Relief: Pensions and Savings
Hi :D , After ignoring my pension situation and hating my tax bill for many years I have turned over a new leaf this FY. I am now paying AVCs totalling the same as my higher rate tax liability. Question... 1. If I saved money into a bank account (which I would have to pay tax on the interest) could I get an equivalent…
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Tax questions please
Hi all, can you help a dumb 22 year old work out her tax :confused: Confused is not the word I am beyond confused. I will be moving over to 20% tax soon because they have lost the 10% tax. Now how does this fair in relation to what I am paying now? I have this fear that I will be paying nearly £200+ a month in tax (told…
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reduce capital gains tax bill
Hi I've just accepted offer of120k for a prop that i had lived in for about 7 years and subsequently rented out for the last 10 years. I bought if for 25k and have spent about 25k on it reburshing etc. Can anyone give me any idea what figures I may be lookin at. I am living with my partner, not marries he's self emp and…
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How can I find out how much tax I should be paying?
I want to know how much Tax i should be paying as I think I'm currently paying to much :confused: and this is probably a silly question but do you get e new tax free allownace each year? :o Thank you
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Am I Liable To Pay Council Tax?
Hi all, I'm moving back to the UK in July to do a full time post-grad course at university. I'm hoping to find an apartment at some point in July however my uni course starts at the end of August. A friend said that I will be liable to pay council tax on the property from the date I get it until the date I start uni -…
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Tax on a bonus - HELP!
I have just been told that I am going to get a 10% gross pay bonus before xmas this year which will equal £2300....I don't know how to work out what I will actually get paid that month :confused: I'm still paying back my student loan and when I put my details into listentotaxman.com all comes back correct to the penny (ie…
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TAX Problem
Hi everyone, Well this is my first post on MSE so appologies if this is in the incorrect section. Basically I need some help with a recent problem my girlfriend has had with her tax. Il start by explaining the senario: I was wondering if you could help. I'm writing on behalf of my girlfriend who is having troubles…
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NI contributions bill & small earnings exemption
Hi, I am self employed & I just received my first NI contribution bill. I am eligible for the small earnings exemption. So what do I need to do now? Do I need to pay the bill & then apply for the small earnings exemption? Or can I just return the small earnings form with the bill? I tried phoning the helpline but they were…
