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Tax Evasion?!
Hi, Just a quick question really. A friend of mine has asked me whether he can put some cheques into my bank account as he is currently setting up a new account but needs the cash. Am not talking a lot of money here less than £5000 in total. I said it would be ok then started to worry that i might be doing something…
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self-employed car/mileage allowances
Got my tax return form yesterday. It says I can claime 40p per mile for the first 10,000 miles - I understand this. But it says that I can only claim this for business trips or to temporary places of work. I am a private tutor (I only have 5 clients) and all my work places are temporary as I genrally only tutor for a few…
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Claiming mileage charge over 40p per mile
My wife recently went self employed. I understand she can claim 40p per mile for using her car. Petrol prices have increased considerably. Is there any way she can claim more than 40p per mile to reflect the inflationary uplift in petrol charges
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P87 - Milage Relief
Can anybody help me? I have a P87 form for 05/06 and 06/07. The 06/07 form states that if my claim is more than £2500 I need to complete a self assesment however there is no mention of this on the 06/07 form. Does the £2500 rule still apply and is it £2500 before or after applying my tax threshold of 40%. i.e. If I have…
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Gift Tax & Accountants
My father wants to give me some money, he lives in Germany and I live in England. I was thinking to go to an accountant for advice but having not dealt with one before can anyone point me toward a good one?
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taxation on gifts
I only work a few hours a week, partly employed, partly self-employed and therefore currently pay no tax. If I am lucky enough to be offered a financial gift from a relative, is this liable to tax? I am confused! It seems that a £3,000 gift may be an annual threshold for non taxation but I am not sure. Any help appreciated…
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what are taxes spent on
i have searched and search for a comprehensive list of what taxes in Britian are spent on. can someone point me in the right direction of where to get that information from please.
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Capital Gains Tax (CGT) on only property
Apologies if someone already asked this question. I couldn't find anyone's post detailing the same situation. I've just sold the only property I ever owned. Because I got a job elsewhere as I was beginning to buy the property, I've never lived in it and have always rented it out. I've always been in rented accommodation,…
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Bloody HM Revenue & Customs,Tax Return,owe me money
Hello As a supporter of the cause I would like to tell you about HM Customs keeping my money and earning interest. I take home approx £200 a week and my tax return for 06/07 showed that i had overpaid income tax by £99.26. I was informed of this in January this year. The letter said the amount "...will be repaid after any…
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Council tax - Final Demand
Hi, i wonder if anyone can help me out with a bit of advice.... For the whole of September i lived in a shared house with 3 chinese people, waiting to start University in October (i wasn't a registered student at the time so i know i owe for this period). Today, nearly 4 years later, i had a final demand /warning for a…
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tax refunds
i just realised i paid too much tax during 2002-2003 is it too late to claim that back? some website say you can claim upto 5 years, some say 6 and others 7. i called up inland revenue and after 21min on hold i gave up.
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Tax
When do you pay higher tax on your earnings? Is it at £31,000 or has it changed? If some one could give me a breakdown of what and when including pensions too.. Thanks
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Advice needed in Inheritance tax and remortgage...
Hi, Hope I'm posting in the right area (apologies if not)! Did post originally on families, pointed in this direction! My lovely mam and stepdad would like to (big style) help us, by giving us approx £40k for our mortgage. They are about to sell they're house and move into sheltered accom (mam been ill recently). We've…
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April overtime and the illusion of high earnings!
Hi, I'm doing a lot of overtime in April, and it's going to give the taxman the illusion that I'm going to earn a lot more over the year than I actually am. If you extrapolated this month's earnings out over the entire year, I'd be well above the higher tax bracket limit. However, over the year I'm actually going to fall…
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Tax when working 2 jobs?
Hi. I am planning on working 2 jobs. 1 at my current work place and 1 at home. I plan to work 25 hours a week with each job, so in total, I will be doing 50 hours a week... So basically, I will be in 2 part time jobs. 1 Job is £6 an hour and I believe I will earning £150 a week for this. The other Job is £6.50 and I…
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How does HMRC know i've worked abroad?
Something has been bothering me: I am self employed and work for independent companies overseas in many different countries. I always have to provide these companies with a HMRC letter proving I am registered as self employed in the UK. I then receive payment un-taxed from the overseas company. Of course I declare this…
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Any Advice Gratefully Received
Hello, This is my first post on this forum which really seems to be a mine of useful information. I would really appreciate some advice as I feel I may have overpayed Income Tax by quite some way in 2005/2006. I am loathe to contact my Tax Office in case they somehow end up asking ME for more money. Here are the stats: Tax…
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HELP: Two jobs but am I owed Tax back?
Sorry if its a bit long winded but its been worrying me and the fact the tax office doesnt pick its phone up infuriates me more! Basically 3 months ago I started a new job (full time) and reduced my old job from 38 hours a week to a "casual" contract (meaning I'm called upon when needed but nothing regular). Got the tax…
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Rental Tax - Now Scared :-(
Hi Wonder if anyone could advise me, I'm in a right pickle :-( I had a house which I bought around 13 years ago. I lived in the house from when I bought it as my main residence for around 18 months. I then bought the house I live in now, and rented the first house out for the following 10 years or so. The first house was…
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Be Prepared. New Style Tax Returns
Hello I have just received my paper self assesment tax return for 2007/8. Am not happy , they have completely changed the forms. We will now have to go thro every page, read all the guidance notes.:eek: What a pain. Usually it was quite easy ,just copy sections from previous year no need to read guidance notes, just fill…
