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Incorrect information on P45
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self employed tax calculation
Hi looking for some help in working out how much tax i will pay on a net profit of £27000 for the year 08/09 trying to get myself sorted for january before the bill arrives.....last year net profit was £12000 and 1st & 2nd payment on accounts were £1011. any help would be fab....even a pointer as to how i work it out…
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Tax Relief on renovation for rental?
Hi all, hope this is the right place to ask this. I'm currently renovating my house in order to rent it out when I move in with my gf. I've fitted a brand new bathroom, renovating the kitchen and decorating throughout. Obviously this has been expensive, and I was wondering if I am able to claim tax relief on any of this,…
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How to accept a cash gift from overseas
I am a UK resident. A french resident wishes to gift me just under 30k euros. Their money is legitimately earned and it is kept in the bank however in France they say they must pay a massive gift tax - because of this they only wish to gift in cash. This is something most of us can understand, especially at a rate of more…
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Tax on Gifts - Under Inheritance Tax amount
I was wondering if any one can help me out My grandparents have recently passed away leaving their estate to my farther. As he has now has surplus cash he would like to give me and my brothers money in the form of a gift. As far as I am aware we will not have to pay capital gains tax on this gift and income tax will only…
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How do I get HMRC to accept I'm on a low wage and live/work abroad?
Having had a search of the threads, I can't see one which mirrors my situation, so I'm hoping someone can give some advice. Sorry for the length! I was a higher rate tax payer, paying tax through PAYE, until January 2009 when I had a fit of idealism and resigned to go and work for a charity abroad. I filled in the P85 to…
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Employer not changing tax code.
Hi,my tax code was changed in my favour,was changed in October,my employer has not changed it,said they have not recevied the new code from IR,have asked IR to send it again,they are continuing to tax me at the higher rate,I know sooner or later I will get it back,but,they say they have not got it,how can I force them to…
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strange change of tax code
bit :confused: but am not a tax expert in any way. My situation: Have an employer who I get taxed in the 'normal' way through PAYE. Also do a small amount of self employed work. Do my tax return as soon as the notifications go out so it is out of the way. For my 07-08 tax return, I had £787 tax to pay. I elected to have it…
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Actuarily Reduced Local Government Pension - Tax Question?
I wonder if you kind people can do some number-crunching for me? On February 1st 2010 I start drawing my State Pension as I will be 60. It will be £102 a week. I also have the chance to take my deferred Local Government Pension. However, I will lose quite a bit of it for taking it early and it will also put me into a…
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Tax on job abroad
Hi Guys, To be honest I dont know a great deal on income Tax. Basically over the past year I've been thinking of giving up my job and setting out as a full time musician. It's got the point know where I'm offered a lot of work abroad, from 3-6months a time (well paid) I know for the work I do in this country i'll have to…
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High Rate Tax - Salary and Savings
Salary alone, I do not fall into the high rate tax band. However, once I include all of my income from interest earned on savings, this fills up the rest of the 20% band and pushes me into the 40% band. I was under the impression that I could just pay back any outstanding tax for last year by filling in an online tax…
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Commute 23000mls p.a. any tax relief?
I commute over 23000 miles a year for a local authority in Wales, anybody know of if there is some tax relief or money I can claim back somehow? Cheers in advance!
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Self employed and HP Finance Tax claim
I have just set up as self employed sole trader and have brought my van on HP(yes I know) :eek: what I trying to find out is what can I claim back or offset and fuel and running costs payments etc. I have read so many websites my brain hurts!!! they all say different things about this and that then you get the bit about…
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Am I liable for outstanding Council Tax 3-4 years old?
Hi I am new to this site, can anyone offer any advice. I recently moved from a property, and the council have sent me to outstanding invoices from 3-4 years ago of £390. Can I be made to pay such an old invoice? They told me my account was in credit after moving and sent me a cheque of £9.61. How can an account be in…
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I am liable for outstanding Council Tax 3-4 years old
Hi I am new to this site, can anyone offer any advice. I recently moved from a property, and the council have sent me to outstanding invoices from 3-4 years ago of £390. Can I be made to pay such an old invoice? They told me my account was in credit after moving and sent me a cheque of £9.61. How can an account be in…
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Tax and National Insurance Claim back?
Hi guys, I just started working and recieved my first pay packet... now theres 3 of my friends who have the same pay level as me and we were all discussing our payslips... It appears that our tax is going up and up... the first pay had no tax and its been rising since. ( my tax code is 461L) The thing that concerned me the…
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Made a loss - BS interest is taxed, why?
I'm Self Employed. I made a loss in the 08-09 tax year. My income from a pension and building society interest is over the personal allowance limit by £982. I will be taxed £98.20 on this according to the HMRC web site. Why can't I claim this against my losses? Denis
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Council Tax on empty property?
Our tenants moved out in May and the property has been empty since then as we are doing renovations (knocking down walls and putting a new kitchen in). It's taken so long as my OH now works away Mon - Fri but the local council has said that as they've given him 6 months 'off' from paying council tax, he now has to pay it…
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claiming back tax
Hi everyone just looking for some advice on claiming tax back for the 08/09 tax year. I was employed by the HM forces up until January 5th of this year, can i claim tax back from this date to April 5th??? Although i was officially employed up until this date i started new employment on November 5th 2008. My new job was,…
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How to declare?
My husband has recently started a website and is generating £200 a month on average in ad revenue. We dont know how long this will continue for, but I'm guessing it should be something he declares to HMRC. The only thing is I dont know how we can go about it. It's not self employment, as it isn't a business, it's just a…
