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A few questions about self-assessment
Hi everyone, I would be very grateful if anyone could help me (or point me in the right direction) regarding a few queries about filling in my self-assessment online. I am employed full time and pay tax and NI through PAYE. I don't earn anywhere near the higher taxpayer rate for this employment. During the year 07/08 I…
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Self Assesment? Is it needed?
Ok, first of all apologies if this has been posted and answered already, but I couldn't find it. Here is my situtation... I am living overseas and for the last 6 months have been renting my flat back in the UK. I'm aware I need to fill out a self assesment return. But i'm having problems because It prompts me for my Unique…
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Tax implication of 2nd property please
I have my own house with a mortgage on it where I live. Currently LTV 37% and very manageable. I bought an £80000 house in Oct 08 solely in my name to lend out to a friend who needed somewhere to live safely. I had £50,000 cash and extended my own mortgage for the additional £30,000. The lender didn't ask any questions as…
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Self Assessment, how do I fill in ..?
Hi, Just filling in the SA form online and thought it would be straight-forward. However, I had a situation in Feb 2008 where I started a PAYE job and after a week realised the job wasn't for me as the employer hadn't quite told me the truth. I resigned and according to my contract I was paid a sum of money - equating to…
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set off capital gains losses against CGT
how far back can investment losses be set off against CGT?. for example, can a share or investment fund bought in 1997 that went bust be set off against any CGT for profitable investments sold this year? is there a time limit? knowledge of the rules and or recent examples will be welcome. Thanks Moneyloony:question:
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Self Assessment - do I need to fill in now (or not till April time)??
Hi I am a freelance web designer and started my business around May 16th 2008. I have all the details for filling out self assessment online. I just wondered, do I actually need to fill/register something by January 31st 2009? Or since I didnt actually start till after April 5th 2008 (and therefore no taxable income for…
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How many businesses: 1, 2 or just 'Other income'?
My main income, at the moment, comes from providing IT support/IT teaching on a self-employed basis, but I make some extra income with my hobby as a musician too. I haven't earned much with Music so far, just £347.96 this year, and I've always included it as 'Other income' since it's always been quite little. I don't have…
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My Sister Giving Me A House Help
HI YOU CAN LOOK AT THIS IN 2 WAYS BUT I NEED HELP my sister wants to give me a house i have lived in for many years iam not suer weather it has been some sort of trust thing for me or what but my issue is how can she give me it without havnt to pay inheritance tax or out else iv heard she can sighn it over to me without…
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Power of Attorney and Inheritance Tax question
Hi I have recently become Power of Attorney over my father's finances, and have been looking at all his statements etc., He has an awful lot of money invested in Inscape (part of Abbey); the majority of which is in a Fast Access Account. I have been told by members of my family that I should distribute the money equally…
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claiming tax rebate
Hi There, Random thought whilst looking at forum. I am starting uni as a student nurse in sept and will receive a nhs bursery. I will be finishing my part time job just before because the bursery will replace what I presently earn.The plan is to not to have to work as Uni, Placements, and family should take up most of my…
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Do i need self assessment ??
Having been self employed for a number of years, work dried up and the last tax year i had none. I cashed in a small pension and lived off that as well as savings and the wifes wages. I had a few health problems and decided to have a year out only retuning to work last september. The question is ,do i need to file a tax…
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P45???
Hi My husband has been a fulltime carer for our son for the last 5 years receiving carers allowance.He is now returning to work and i am taking over the care for our son. The question we have is where does he get his p45 from to give to his new employer,and will it state he has been getting carers allowance. Thanks in…
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Tax liability on building plot??
Hi, the dilemma I have is... 18 months ago we bought a 2 bed house with a large garden for £217,000 and with a mortgage of £185,000 against it. The house is now worth about £185,000 due to the price crash. I am now in the process of apply for planning permission(plans drawn up but not submitted yet) to build a 3 bed…
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Self-Assessment for PhD Students - HELP!
Hi, I have a fairly simple question, but I can't find the answer anywhere. I am a PhD student receiving a £15,000 tax-free grant from a research board called the ESRC. This amount I am aware is completely tax-free. My problem comes with regards to working out how this should affect my income that is not tax-free. In…
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Another terrible experience with SA online
I registered for SA online on January 2. I know it is abit late, but anyway it gives me planty of time till 31January, right? Today is January 22 and I still did not receive my Activation PIN. During this time I phoned 6 times to Helpdesk and ordered 3 times new activation PIN. And till now I havent got it. Helpdesk could…
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Employed pharmacist+ regular locum tax query.
Sorry if same topic raised again. Any replies from fellow pharmacists in same position would be great. I am working as a employed pharmacist and earn around £52k ( basic salary + performance bonus) before tax through my regular job. I am a FTB and want to buy a house early next year. I want to do some extra locum shift (…
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How long do HMRC take?
I submitted my SA online yesterday afternoon and got an email back almost straight away saying that they received it and it is now being processed. How long do they take to process, as I've still not heard from them?
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Lump sum from company - capital gains or income tax?
Hello, I'm a director of a small, start-up company that's about to be bought out! It's very exciting, as we'll all get our shares paid out and we've been earning and absolute pittance over the past 3 years since starting the business, so, as you can imagine, I've started making plans for my cash! I'm only a (very small)…
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Tax on second income - HELP!
Hi there, I have a full time job as a designer, earning £31,000 a year before tax. Lately I've been offered freelance design work to earn some extra cash in the evenings and weekends, nothing major, £200-£300 at a time. I'm worried about the tax issues on this though. Will i have to pay tax on it? Will my current employer…
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Doing my books?
I wonder if anyone can help. We are a tiny business and it is my first year of doing the books. I have no clue but i am sure i could manage it . Can you tell me exactly what i need to have written(everything i need to write) and how many books i need or what i need exactly to give to an accountant I have so far one book…
