We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

We're aware that some users are experiencing technical issues which the team are working to resolve. Thank you for your patience.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Cutting tax

Archives for December 2008

Accountants Fee
Can I offset my accountant's fee on my tax return ?
Accountant subbited paper account but ive got a letter saying I must do it online?
Ive got a letter from hmrc saying that I must submit my accounts online by the 31st of Jan or I will get a fine but my accountant has submitted them via paper at the end of october, is this a standard letter that gets sent out or am in a spot of bother?
can i reduce this figure to zero???
Am just paying hubbies tax bill-want it out of the way before the new year. I know the taxman adds on an amount to cover half of next years income tax and that you can apply to reduce this if you think you won't be paying as much tax. My hubbies company hasn't traded since dec 07 although it still exists (he is sometimes…
Tax Treatment of pension contributions
I have tried searching for threads related to this but haven't found anything specific. What I would like to know is are pension contributions to employers a deductable expense for profits and tax purposes, i.e. are they considered a normal business expense? If so am I able to give pension contributions to my employees of…
Tax Return and Late Pension Contribution
Hi All I am self employed and just completed my 2007/8 tax return for accountancy period 01/04/2007 - 31/03/2008. During this period I did mean to contribute to a pension plan but didn't (I know, really stupid and kicking myself now). Does anyone know if I can contribute now for this period and deduct from my tax return. I…
SE & working from home - what can I claim?
Hi everyone - this is my first SE tax return and I would appreciate some help! I am a freelance designer working from home about 65% and rest of the time working in-house at various companies. Is there some formula to calculate how much I should claim for electricity/gas and anything else (phone, internet, council tax??) I…
Will it benefit me to go Self Employed?
Hi I wonder if you can help me. I am currently employed as a Firefighter earning approx £28K per year, which is paid monthly on a PAYE basis. I also have a second job, part time in an insurance office where I earn between £8 - £10K per year this is also dealt with on a PAYE basis and my tax code is BR. My query is whether…
Will it benefit me to go Self Employed?
Hi I wonder if you can help me. I am currently employed as a Firefighter earning approx £28K per year, which is paid monthly on a PAYE basis. I also have a second job, part time in an insurance office where I earn between £8 - £10K per year this is also dealt with on a PAYE basis and my tax code is BR. My query is whether…
Avoiding inheritance tax by holding on to property?
Hi there, We are currently awaiting division of my mums estate between 4 of us, its basically k350 money, and a farm plus land, worth poss K800+, my brother seems to be of the opinion that if we retained the property once probate is granted we can avoid alot of inheritance tax by one of us electing to make it our primary…
As an Employee - What can be claimed?
I am employed and pay too much tax (as do we all). What expenses are possible to be claimed as tax deductions? Currently I claim nothing at all but there must be something?!
PaySlip Help needed
Hi Having been self employed almost all my working life I'm finding my new PAYE payslips hard to check. Can somebody tell me if I'm right in the following...... My pension contribution is deducted from my gross salary? The first £503 I earn each month (6035 / 12 personal allowance) is tax free? I pay 20% tax on the rest?…
Self Assesment help
Please be gentle, I'm new to all this. My husband and I have put a property on rent through a letting agent (we used to live in this property) I am going to do the self assesment form online and wanted to know do I calculate all our costs and profits and then divide in half and use those figures for our individual returns.…
Need S.A help please!
OK... I was going to get an accountant to sort this out for my tax return but I cannot afford the £300 he wants so I am going to try and do it myself. I would appreciate any help whatsoever in pointing me in the right direction.... Be gentle with me.. I went self employed in April 07 as a private hire airport driver.. I…
What can i claim for?
I am about to start a new business venture and as a result of this, have had to purchase a works van, like most commercial vehicles this attacts a price plus VAT element. As i wont be VAT registered as i wont be earning enough, what can i claim back for? How is the purchase cost of the van offset against my tax? TIA Gareth
Buying a secondhand car
Hi, Im currently self employed (but not registered with yet - im still within my 3 months, i will get round to doing that in the new year). My question is that im about to buy a new second har car. Can i claim tax relief on this when i get an accountant, or can you only do that if i buy a car new? If i can claim tax…
On-line Tax fraud reporting
Does anyone know a link where I can report to HMRC tax fraud. All I can find is on-line forms abut benefit fraud. Thanks Bozo
Ebay trading
I have been trading on eBay since August 2007 and now I have just declared that I am now a business. I know I am gonna get fined by HMRC for failure to notify within a 3-month period. What I want to know is how much? ( I know it is 100 pound for failure to notify within the current tax year outside the 3 month period )…
Tax on US shares
I have some US shares, if I sell them at a loss do I have any tax to the US gov (and if so hoew do Ido this), if I keep them and they go up in value and then sell them at a profit how is this taxed? I would be grateful of any assistance as am confused.
"Small businesses will get more time to pay tax" How?
I'm a sole trader with a whopping tax bill due on 31 January. In the Pre-Budget Report, the Chancellor said something about giving small businesses more time to pay tax. Does anyone know what this means? And whether it applies to sole traders? I was thinking of asking if I could pay my Payments on Account in twelve monthly…
2nd job babysitting
Hello firstly sorry if this repeats other threads I did have a read through but I couldn't find the same senerio to learn from. I'm a teacher so I earn about £23,000 I have also started babysitting getting work through an adgency, I need to pay tax , but not sure how to go about this, do I register as self employed? So far…

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

View All

Cutting tax

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free

Cutting tax

Discussion List

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free