-
Taxable deductions from self-employed 2nd job?
Hello. What a minefield being self-employed is? I have a part-time job that I pay tax on through PAYE. I am also about to set up self-employed teaching Spanish after school. I'm trying to calculate my profit, on which I'll pay Basic Rate tax and am trying to work out what I can deduct from my profit. The mileage to the…
-
income tax
i am a student and earn about £70 per week and i have just got a letter from the tax office to say i owe them money which will leave me with no wages this week. They are also going to tax me about £4 each week on my wages of £70. I cannot understand how they have reached this decision as i was led to believe you are…
-
17 year old and tax whilst in full time education
Hi all, My son is 17 and remaining in full time education for foreseeable future. He has just done a day's work for a shop during their sale weekend. They have paid him for his day and now sent him his P45 as it was just temporary work. It didn't register with me at time, but he was taxed on his 1 day's work. Should he…
-
transfering a property help and advice needed please
Hi this is my first post so please be gentle I have my late grandfather’s house,or think I have. The current value is £100,000. There is no mortgage on it and the leasehold was handed to me upon his death in 1999. I returned to the area and lived there while caring for my grand mother until my marriage in 2002. My…
-
Redundancy Payment tax or no tax?.. Please help asap!!
Hi There, I am currently on notice by my employer as the project I work on is coming to an end. My entitlements as per there redundancy policy is statutory and one months pay. This is in addition to any days I have worked and I will be paid as normal in my last month. So in my last month I should get 2x month pay and…
-
Tax office - all take no give !!!
OH sends his tax return 2 WEEKS ago and TODAY receives a response that more tax is due. Me, same tax office, sent rebate claim for 08/09 2 MONTHS ago and still nothing. Seems there's only backlogs to give refunds.
-
Gift Of House To Young Child - Best Way
Apologies if I have missed a thread on a similar subject but could not see anything that related enough! I own 2 properties; one in England which was my primary residence until I moved to Scotland in 2000, when I bought another property with my partner (we have since then split and I have bought a property on my own.) I…
-
BR tax code - when should I chase
Due to a mix up by my former employer I was transfered from correct tax code to BR. I wrote to the tax office (I can never get through on the phone) on 8th June. How long should I wait to chase this? Also with BR, I know that I won't have been getting a personal allowance - but is it the case that the whole pay is charged…
-
'Employing' a spouse who is also SE
I get freelance work, sometimes more than I can manage. My husband has proposed that he could do some of the work for me (as I am trying to build my business up so don't want to turn work down at the moment) as and when I have too much. We are both already registered SE. I imagine I would technically be employing him - it…
-
Reclaiming tax from Swiss share dividends
My wife is a non-tax payer - resides here in the UK - and has a number of shares listed on the Zurich stock exch listed in CHF. The dividends she receives are less 35% tax. I am aware there is a convoluted process for reclaiming 20% of the tax down to a min rate of 15% under Swiss tax rules by completing three copies of…
-
inheritance tax and AIM listed shares
Does anyone know how to identify the AIM listed shares that would be excluded from IHT calculations once they have been owned for 2 years? I can only find out that those companies who 'trade' qualify and are not listed on any other stock market. There seems no way to find out which ones these are. I currently have a self…
-
Inherritance Tax
Hi Sorry if this is in the wrong forum but unsure where to ask this. Recently my uncle died and has left me a sum of money in his will. I know his estate was worth over the freshhold for inheritance tax, am i correct in thinking this will have already been paid by the solicitors and therefore any moeny issued to relatives…
-
Basic Rate Tax
I have just gone back to work on 16th July, and filled in a P46 before I started. I have been given a tax code of BR, which means I am paying 20% of my earnings each week. I expect to earn approx 7100 pounds this tax year. So I think I will overpay by about 1200-1300pounds(please correct me if I'm wrong). As I am on a low…
-
Business/personal use
Forgive me if this is covered elsewhere. I run a small business from home. I use my car for mostly business use - being a secret tramp I have few friends or family. I want to keep my affairs as simple as possible and so I have apportioned my car use 75% business and 25% personal. This is being quite generous to the tax…
-
Capital Gains Tax
Hello can anyone advise me please? I have a house I let out. I have owned it for nearly 6 years and been renting it for nearly 3. I never intended to keep it that long as was going to sell but got caught up in the price freefall and couldn't sell it anyway despite trying. Anyway, will be liable for CGT come January as will…
-
Council Tax Liability Order????
Ok, I was late paying a council tax bill in June (£55). I recieved a summons on the 1st July for 23rd July. However the summons was for the whole years amount (£440) . As mentioned the summons was for 23rd July but on the 3rd July I paid £110 - which was June and July's payment. But it still went to court and on the 4th…
-
Capital Gains Tax and Probate
Hi My mum sadly passed away a couple of weeks ago and i am executor of her will/estate. I have decided to do probate on my own, thanks to advice from this site. But I am confused, her estate does not meet IHT, but I do have a property to sell, do I have to pay CGT on the sale of her apartment? Many thanks H
-
two jobs and tax codes
hi guys, need some advice here. i'm currently on jsa and recently started a part time job 6-9 hours a week. when i started i filled in a p46 and got my tax code (647L). all good so far. however, i have just been given an offer for a full time job 40+ hours a week which i will be taking up. i will then sign off jsa and i'm…
-
Tax rebate
I moved abroad this time last year and sent off my P85 to claim back any excess tax I had paid. As I am renting out my house and I stated this on the form, the tax office sent me a NRL 1 form to fill in. When I phoned up the tax office to question this, I was told I did not need to fill this is as the house was being…
-
what would be the tax status of lots of small gifts?
I am just wondering about what tax would be payable on lots of small cash gift. For example if 100,000 people gave me £10 towards a project I am looking to do - what tax category would it come into? or similar 10,000 people gave me £100. I know there is a tax free limit on gifts of about £3500 or so isn't there? Is this…
