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3 years tax arrears
hello everyone oh went self employed 3 years ago and avoided the tax man until this year now he has to pay approx £9k for the last 3 years ,which we just dont have but we are willing to pay what we can afford which would be approx £100 per month at most ,do you think they would accept this ? or would they take us to court…
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Tax Deduction for per diem salary in UK
Hi, I am working for an IT company having its client in UK and have been on deputation in UK from 1st July 2008 till date. I recieve a base salary and a per diem salary both of which are paid at the end of the month.I was told that the Per Diem component would help me save on Tax cuts. Till the month of November, the per…
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Can anyone recommend a moneysaving accountant for Doctors
I am a GP starting into the world of locuming after completing my rotation of hospital jobs. Money is short. I would prefer a reasonable accountant to look after my accounts who has some past experience of dealing with medics. Does anyone here have any recommendations. The best quote I have had is 250 pounds per return ( 2…
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Registering as self-employed in Feb 09 - do I still have to fill out tax return now
(subject meant to say Jan 09, not Feb 09) Hi I have seen a few adverts saying that the deadline to fill out your online tax return is 31st Jan 09. I am in full time employment (and will continue to remain so) but will also be doing some part time freelance work beginning in February, at which point I will need to register…
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Large amount of money deposited in my bank account from credit card
Hi A while ago I used one of my credit cards to perform a 0% balance transfer to pay off an overdraft (of around £4000) of my main bank account. Some credit cards don't offer this facility (most cards are only used to perform a balance transfer on another card) but some allow this so I took advantage of it. My question is…
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Capital allowances for 2008-2009 - up to £50k??
Is the capital allowance changing for the 08-09 tax year? They mentioned something in the tax SA course I did some time ago but have not heard it being confirmed "Annual investment allowance (AIA) – on first £50,000 of investment 100%" http://www.ifa.org.uk/tax%20rates%20CLASSIC/allow.html does this apply to computers and…
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Self employed and a new job too.
Hi all, Sorry if I should have popped this on a different board, couldn't decide which would be best. I became self employed last year and I have just been offered a part time position in a local shop. I was just wondering when I start my new job at the end of the month whether there is anything extra I have to do/forms to…
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can someone even roughly give me an idea of what tax we would pay?
re tax self assessment for 07-08 due 31 jan 09 husband earns self employed £17,500 me £90 a week (from hubbys business)plus £100 a month mystery shopping We have 2 kids aged 5 & 8 no savings no mortgage /rent (live in a family owned house that is due to be knocked down for really obvious reasons, worse than a squat-…
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CGT ex family home
I shared ownership (50/50) of a family home with my wife for 10 years (1997-2007). I lived there for the 1st 2 years then moved out leaving my wife and children in the house for the remaining 8 years after which it was sold. As part of the divorce settlement (which took into account my own home/assets/pension, etc) the…
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How do i include my new van in online S/A
Hi, as usual i have left filing my online self assesment untill last minute and need some advice on how to go about including the purchase of my company van. I purchased it in the summer 07 for £5500 and dont have the slightest clue as to how i include this in my return along with any depreciation that may have incurred. I…
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Filing online tax return: self-employed but no income?
Hi, I hope this is the right board to post this on. I'm just trying to file my tax return online. I only became self-employed at the end of December 2007 & did not earn anything at all between then & the end of the tax year. If I try to enter £0.00 in the income boxes on the tax return, it comes up with an error. So, does…
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advice on CGT on second property please
Hi, a subject i see covered a few times but i need advice on my personal position if possible. I have a 2nd property which i bought in June 1996 for £89,000 I lived in this as PPR until Nov 2006 (125 months). Then in Nov 2006 i moved into my current PPR and have rented the original property out since. Probable market value…
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Claiming Tax Back
Hi all Money saving experts! Just a quick one, for which i have searched and havent found an appropriate solution. I have just started a new job and received my 1st pay slip for the role, and as expected i have been charged too much tax. Although it is inline with the salary, because I have not been working up untill the…
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Tax relief on residential mortage
I have a house that I rent out and I am looking to cut the tax I pay on the profits. I used to live in the house and then started to rent it out when I moved elsewhere. At that time the house was worth £150,000 and I took a mortgage on it of £90,000. I already claim tax relief on the interest for that mortgage. I don't…
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Advantages to having a separate business bank account?
are there any and can you reccommend a bank? The tax people and accountants think it's a good idea but there are charges involved right?
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Tax Bill in Installments?
ive just had my tax bill to be paid by 31st Jan 2009.. as i am self-employed Is there anything in place with the current economic climate for people to pay their tax bill in monthly installments?? Im sure i heard the government mention something on this? Also if this is possible would it be interest free without penalties…
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bank interest & tax
I was filling in part of my SA yesterday and they seem to want you to declare any interest gained - even if this has been taxed. I have earned very little interest overall (and most of it on the money I have been saving to pay my taxes with) but I was wondering Do you also have to declare any interest gained on a pension??
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IHT question re past gifts
Re another question, dunstonh wrote I wondered if this principle applied more widely. Under the 7 year rule, if a gift was made on 1/1/05, does the IHT cease to be payable on 1/1/12 or on 6/5/12?
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Epic tax help required!
Hi all. Hoping some tax brains on this board can give me some advice, I'm in a bit of a muddle. I was self-employed as a contractor for six months towards the end of 2007, and during that time was paid directly in to my bank account without any tax or national insurance deductions. At this time I registered with the tax…
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Self Assessment Online missing out Payments on Account
I've just filed my Self Assessment online with HMRC. The tax calculation shows money due for the year 2007-2008 which is fine. However, the Balancing Amount does not take into account any "Payments on Account" which I've already paid towards the tax year. Has anyone else come across this problem? So I now have a statement…
