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Register As Self Employed?
I have a full time job. For the past 6 months or so I have been doing odd bits of freelance work in the evening and weekends. In my naievity I thought I would just need to fill in a self assessment form at the end of the tax year and enter my 'additional' earnings. But it looks like I need to actually register myself as…
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Tax and NI on small pension
I am taking early retirement next year and will get a pension of £5500 per annum. This will be my only income. I will be 52. Will I pay any income tax or NI on this? Thanks in advance.
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what records to keep for tax returns?!!
Hi there, I am starting up a petsitting business as a sole trader, I have been reading that you should keep invoices and receipts to show HMRC if requested, but as a petsitter I wouldn't really give out invoices/ receipts? Do I have to do this? Any help would be much appreciated as to what records I should keep - at the…
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Advantages to registering for VAT early?
Hi, I hope this isn't too simple of a question to ask but..... here goes. I've decided to set up a small business making and selling items at craft fairs and some other events. I've just put my first order in for some stock which came to around £1,700 including Vat. Now, I know its going to take me some time to break even…
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Tax Expenses
A simple question I hope. Is it worth buying something on your self employment business accounts and claiming it as outgoing even if you don't have to buy it? Ie. I host some websites for people. Which I currently host on a corner of my free website from my ISP. Hence no cost, no change to profits. But it means I have to…
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Tax code Help
my tax code is 647L/ Cumlative is this the correct tax code i should be on? i get paid on a weekly basis and the reason i ask is on my last pay i earned £445.20 there was £36.90 employer national insurance deducted. £54.80 Tax deducted and £31.71 employee national insurance deducted. should i be paying this much? thanks…
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Working From Home Allowance and VAT
HI everyone Could someone please clarify something for me? I understand that self employed folks working from home can claim income tax relief to cover increased electricity etc used while working. Would this be minus 5% VAT (assuming the business is VAT registered), with the VAT reclaimed through the quarterly return, or…
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Very basic tax return question... apologies in advance
Sorry if this sounds like a daft question... When you fill in a tax return, what expenses/outgoings should be included? Do you only list expenses/outgoings that directly relate to your self-employed earnings or can other things be included? If so, what else can go in? Thanks and sorry if that was a stupid question!
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Working from home - claiming mortgage interest as ltd co
I have a limited company, and an office around 5 miles away from my home. I use the office for meetings only, and while it's not beyond the realms of impossibility that I could work there I choose to work at home. I currently pay myself an allowance of £3 a week for working at home. I realise there has been a big thing…
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Help, Tax Office have made a mistake
Hi, I hope this is in the correct place. DH filled in his tax assessment on line on 27 April. We had heard nothing so called two weeks ago. A week later a refund was paid in to our bank account but it was less than half of the figure I was expecting. We received no letter/ statement to explain so called again. Told the…
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Help, please!!!
I am trying to fill in my tax form- can some-one please tell me what is as2p- a second stae pension? and how do i know if i am contracted in or out to this? Thank-you very much. This is the first time i have had had to deal with such things- and its such a confused , difficult procedure- or maybe i am just thick. :eek:
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Zopa
Do I need to pay tax on Zopa earnings?
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Tax treatment of jury allowances self-employed vs employed
I've been unlucky enough to be called for jury service and after reading and rereading the literature, it seems that the self-employed end up worse off than the employed. Can anyone please confirm whether my understanding is correct? Assuming your loss of earnings is more than the maximum, as an employee you get your £63…
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Tax Refunds
Hi Guys, I wanted to know if I am eligible to get tax refunds? I started work in November 2007 & am still working in the same company. How do I go about the procedure to get tax refunds (if at all). Are there any reliable & safe organizations that would assist me & simplify the process? Cheers
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Should I go self employed?
I currently do a little bit of book keeping from home for a company I used to work for. I'm self employed and invoice them as and when. I also work in an office and have recently resigned from my current position and found myself a new job, but my current employer has asked me to carry on working for them on a part time,…
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Self Assessment Question
Please can someone advise on the section of the short tax return headed 'UK Property'. I purchased a plot of land during the tax year 08/09 although no income has been received on the land its capital value has decreased. Would you advise declaring this therefore indicating a capital loss (on paper) has been made. many…
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Tax query?
Apologies I think I put this on the wrong thread to begin with! http://forums.moneysavingexpert.com/showthread.html?t=1895835&highlight=
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Self Assessment timescales
Guys, Wondering if you can assist with a query I have? I submitted my self assessment for 08/09 which the tax office received on 01/06/09 which I believe I am due a refund circa £400 so not a small amount which I am waiting on. To date I have received nothing which I have got to say is unusual as previous years it has been…
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Paying the least to the TAX monster, I mean Man.
First post - so I hope you can help! My wife is a US Citizen who now lives in Ireland with me and needs advice on paying tax (or as little as possible!). She is about to receive some dollars (expected $40000) from her family inheritance, into an existing US bank account. As I have dual citizenship of Ireland and UK, with…
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Is 'Tax' Just A BIG SCAM?
I know legally when you think about tax it is legal, but when you think about it deeper, is it a scam? I see it explained on this following video, which made me think- http://video.google.co.uk/videoplay?docid=-3287351200059366862&ei=0zeJSsGfEYen-Ab4iez_CQ&q=Fight+the+New+World+Order+with+Global+Non+Compliance&hl=en&dur=3…
