-
NI & CB query
I read an article on the Fool that people (carers) who receive Child Benefit can reduce the number of qualifying years for state pension. http://uk.biz.yahoo.com/18102009/404/ni-payments.html As i clain child benefit for my child, how can i make sure that the relevant goverment body takes this into consideration for my…
-
P87 Claim from April 09 HMRC Cheque Dec 09>
Anyone else having problems with HMRC and payment of P87 claims? Submitted mine in April as soon as I had my P60 which I have done for years now and it usually gets paid by end of July. Anyway this year because "Off the new Computer System they have installed for my benefit" they are unable to print out cheques as there…
-
Company car given back - why does it have to stay in my tax code?
Hi guys I had a company car in my tax code which was fine. I gave the car back (as no longer need to do the travelling as my job has changed) but the tax office says that they are unable to remove it completely from my code and that it has to be 'apportioned' and a figure has to stay in for the rest of the year. When I…
-
quick self assessment question
I registered as being self employed back in May. Ive just received a letter from HMRC (the first correspondence Ive had from them since registering) saying 'from our records it seems you need to fill in a self assessment form'. I pressume I dont have to fill a self assessement form until *next* october, is that right? My…
-
Capital Gains Tax
Hi. I am considering selling my BTL next year and would appreciate some advice about liability for capital gains tax. My wife and I have owned the property for many years and it has been largely tenanted throughout that time (we have never lived in it.) I keep reading that if we used the BTL as our main residence I could…
-
Rental income tax help...
My girlfriend is currently renting out her house. However, the amount she receives is less than the amount of interest she is paying on her mortgage (It's only short term). Should she still fill in a tax return, even though she's not making a profit?
-
Tax bill from 01/02-Can they do this?!
I posted 3 or 4 weeks ago because i had tax demands from 3 years where i was self employed. I originally thought it was from my self assessment but finally established after literally hours of phone calls and 11 different phone numbers that they were from the few employees i had tax and NI. I have estabished that I filled…
-
Declaring untaxed earnings for the previous year
Hi, Just a quick query - I've had a look at the stickies and this seems to be the best place for it. If I'm wrong, please let me know! The query is... If someone didn't declare some earnings in the last financial year - out of forgetfulness, disorganisation or whatever - but would now like to get everything in order: 1.…
-
P50 form - headache!
Hi there Hoping someone could unravel what I need to do to reclaim some tax. I finished at a job 2 months ago and when I recieved my P45 I sent off the P50 form to reclaim the tax I'd paid as I wasn't going to be working for the rest of the financial year (I was going back to university). After I'd sent the form off,…
-
Bonuses at work put me in higher tax bracket
Hi This probably has been asked before but can't find the answer anywhere. I have a salary which is in the lower tax band. However when I get a bonus through work (not that often, but happens!) my salary gets pushed up to the higher tax bracket. However I'm still in the lower tax bracket at the end of the year, salary +…
-
Gross interest question
Hi everyone - hopefully an easy one My wife has given up work to look after our children full time. She isn't signing on, and we don;t receive benefits, other than child benefit. Should she be able to claim gross interest on her savings? Other than applying with her bank does she need to contact a tax office? Many thanks
-
Is sponsorship tax deductible?
I run a five a side team in a league where a lot of teams are sponsored by local businesses. Outside of the 160+ players in this league I can't imagine many people know the names of each team, so I don't know what the attraction for any business could be. A friend of mine mentioned so many teams are able to talk businesses…
-
IHT & PET Allowance query
Hi I'm a full UK resident but my Father (Whom recently died) & his wife have lived in Australia for over ten years now. The estate has been dealt with other there but my stepmom wanted to send a sizable chunk of money to our family here. I was wondering what the tax implications would be of either a taxable gift being sent…
-
Should I shop 'em?
We have some friends - quite close friends to be fair - who have their own business... He does 95% of it, but she has a good income on her own... However, his business is really taking off - can't say too much about it - but it's been going for about 3 - 4 years, and now is making some serious money... We invited them…
-
Should father-in-law give house to kids? Understanding CGT and IHT
My father in law lives in a flat valued at £300k. It's not in great condition and is too big for him. He owns it outright. He'd like to move somewhere smaller and without stairs, so we're looking for a place for him to rent (not buy) closer to the family. We would then renovate his flat and could potentially sell it for…
-
Local Compliance Letter
A few weeks ago I received a letter from a Local Compliance office. It was a general letter that said it was being sent "to help self-employed customers complete returns accurately", and came with a list of FAQs for self-employed people. As I have never heard of/from the Local Compliance office before, I am rather anxious…
-
MSE News: Postal strike warning for tax returns
This is the discussion thread for the following MSE News Story: "If you want to submit your 2008/09 tax self assessment on paper this year, you’ve just a matter of days for it to get there. Plus a postal strike to contend with too..." Read the full story: Postal strike warning for tax returns
-
Car allowance?
Hi all, Slightly confused over the car allowance so greatful if anyone could point in the right direction. I am starting a new role however in todays market it is based over 130 miles away meaning a weekly comute of over 260 miles (I stay up there for three days during the week). I have been reading the HRMC website and it…
-
Full time employment + risky investments
I am a foregner and do not British tax system well so appologies if my question sounds silly. I am a full-time employee but I also going to invest into risky actives on stock market. If I will have profit I understand I have to pay income tax on this income but would it be the same way when I get loss? E.g. how can I pay…
-
CGT - again
Hi all, great forum! I have read the CGT threads but have not found exactly what I'm looking for so here goes: I have a BTL property that we just moved out of. On selling it I take it I am liable for CGT. 1) Does my tax free allowance roll over year by year, so say I sell it for £50k profit after 5 years, and tax free…
