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Question re gift of £50,000
My brother has just sold a property and wants to give me £50,000. Just wondered if there are any tax implications on this - also does he have to give me a letter saying this money is a gift? Many thanks.
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tax code.
three weeks ago i was 60 (female) i have been awarded my state pension I am taking my company pension (which is delayed in being set up and will probably start next week i will now be working part time, 21 hours instead of 37 (started 3 weeks ago) My company were sent a new notice of coding this week, cant remember the…
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pensioner paying basic rate tax?
My 73 yr old Dad pays basic rate tax (i've recently discovered) on his small private pension of about £2k a year - that can't be right surely? His only other income is state pension. I phoned the tax office and they said they'd deal with it a few months ago - but nothing yet. He's scared to push it incase he ends up owing…
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Employers PAYE please help to explain
I started a company with two friends in July this year. My accountant advised us to pay a low wage and pay ourselves dividends for the chunk of our earnings to save on tax. We set up PAYE for the three directors and pay a salary of £1000 per month each and have been trading since June. My question is regarding the…
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PAYE NI/Tax calculator
Does anyone know of a free PAYE checker or tax calculator? I need to be able to enter tax code, pension contribution, set contracted out of S2P and see the results of how much tax/NI I would be paying. I've found several that do part of the above, but most won't let me enter a pension contribution so the figures aren't…
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Chargeable Event Gain & S552 Certificate
Am confused by a letter we have received from a co. we have just cashed in a PIP with. It says OH has 'chargeable event gain' of £1075.07 & says it should be reported on OH's tax return. They have enclosed a 552 Certiifcate which shows £1075 as amount of gain, the 'treated as paid' box states Yes and the 'amount of tax…
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Tax Code 100L
Hey Ladies & Gents, Been reading lots of great advice on this forum however now I could do with a little guidance, myself. Basically I've just received my pay and been taxed (PAYE) over £1000 for the month (normal around £500), and my Tax Code appears to have changed from 647L CUMUL to 100L CUMUL. I am afraid I know not…
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p45-can i send ?
hi martin, can you help me please? i have just started a new job & my employer is under the impression that i was previously unemployed. its a long story,but i cant tell him that i was as i may lose my job. can i send my p45 directly to the tax office to get my coding amended so that they will send the correct code to my…
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CTG liability?
Hoping someone can help me! It's a bit of a long story and complicated! My boyfriend (now husband) and I bought our first home in Sept 1999. He lived in the property for one month and then had to move with his job. I lived in the house until Aug 2000 and then moved with him. We rented our house out and lived ourselves in…
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Need advice on importing goods from a non EU country
I am a sole trader (not VAT registered) and will be importing food (and candies) from a non EU country. The supplier I am getting the goods from does not charge taxes. I checked the following website http://businesslink.gov.uk/bdotg/action/tariff?r.s=e&r.l1=1079717544&r.lc=en&r.l3=10738949…
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House clearance stash found
Hi all. A little background first. I am self employed running a small house clearance business with my wife and son. This involves customers paying us to dispose of unwanted furniture and effects from empty, (normally due to a death in the family) houses. These items we then recycle either through reselling, charity or…
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Would There Be Tax To Pay?
Hi All, Just wondered if somebody coudl answer me a question please. Basically, my mother is inheriting about 200k, she wanted to do a deed of variation to give this directly to me. But I have been told she shouldn't do this (thanks to forum on here!) now as she claims benefits and could get into trouble for depriavation…
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Potential employee with no NINO
Hi, We have recently interviewed a potential employee. He is a Lithuanian national, and since we already employ a few, we asked the usual questions about registration (based on our understanding of the rules when we last took some on.) Anyway, it turns out that he does not have a NINO. However he does have a P60 and…
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bank interest certificate for tax return
hello, does anyone know if banks are required to provide savers with certificate of interest earned and tax deducted during tax year for the purpose of helping with tax return or do i have to request it .any help would be appreciated thanks
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Filling out tax form please can anyone advise?
My S/E business tax year is 1 Sept to 31 Aug, so for this tax return I am working on Sept 07 to Aug 08. In September 2008 I started to receive a pension from a previous employer. Confused as to if I include the figures I have been sent on P60 or if these will go on next years return. Sorry if this is confusing..imagine how…
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Student Getting Taxed tonnes :(
Hi all, prior to my current job I have not worked for about 2 years. The last time I worked I used to get taxed free of charge up until I earned above about £5,500. I work for a highstreet retail company, contracted 18 hours per week my basic pay comes to £509.80 but I get paid commission on everything I sell as well (also…
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Missing tax on P45 from DWP
I recently signed off JSA and have just received my P45 to give to my new employer. The problem is that it shows my gross income for the enitre year, but fails to mention the tax I paid in the part time job I had before signing on. It's not a lot (£80) but that's not the point. I thought they would put it on so my employer…
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Is there any specialized tax-cut forum?
...which could be a replacement for expensive tax advisers. For high tax payers. Thanks.
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MSE News: Report raises option of 7p income tax hike
This is the discussion thread for the following MSE News Story: "The Government may have to add 7p to the basic rate of income tax as part of efforts to cut the national debt, according to a report published today ..." Read the full story: Report raises option of 7p income tax hike
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Most tax efficient way to finance a car as a limited company
Hi - I'm wondeirng if any financial guru's can help me with the following conundrum. I'm in the process of setting up as a limited company as i'm switching from being permanent paid employee to being a self-employed consultant. I'll be handing back my company car when I leave my current job, and will therefore need a new…
