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Self Assessment Tax and Bankruptcy
Hi all, Got a situation I wouldn't mind some of you knowledgable types to cast your eyes over! Sole trader goes bankrupt in April on year 1. Would anything be due on the SA the following January? All tax liability up to the April would be included in the bankruptcy so presumably nothing would be payable the following…
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cis returns
I keep getting charged £100 every time i return a monthly return late.is this allowed as i do not owe any MONEY, they are charging me for late returns. I am thinking of going to court as with bank charges you get charged x amount for not PAYING .Not for filling a form in
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Can you claim back £100s of tax?
This is a checklist to see if you've overpaid £200 million+ Does the taxman owe you money? It won't come knocking, you'll often need to ask for a rebate. Now's the perfect time to check for the last (2008-9) tax year, which ended in April, and up to 6 prior, as you've still enough time to sort it before returns need filing…
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Returning expat - tax liability
Apologies if this has been answered elsewhere, but I've tried searching and have been unable to find an answer. In November 2007 I left the UK to work abroad in a tax-free country. I have no sources of income within the UK and my salary was paid in local currency, into a local bank account. I will be returning to the UK…
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5p additional passenger allowance
My wife is self employed running a hire business (- mentioned in an earlier thread - thanks for the help) I help out - without being paid, this seems fine according to the inland revenue website as i am a family member. I do a lot of the delivering using my car and claiming the 40p per mile back against the business…
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Furnished Holiday Let - Forthcoming Tax Changes
Originally posted in House Buying, Renting and Selling - but thought may be better posted in this section. I currently own a second home which is let as a holiday let and currently qualifies under the Furnished Holiday Letting (FHL) tax arrangements . As I understand if I sell this second home in the current tax year I…
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Level of wealth when it makes sense to move to Switzerland?
I can't be the only person on here who thinks about moving abroad to a country with either a better quality of life or lower taxation. I've read that you can apply for Swiss citizenship if you can prove that you will earn $60,000 from work or investments. Other websites say that it is something to do only if you are very…
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Tax free ?
I have been approached about a job contracting abroad for a year, but I am unsure if I will have to pay tax ? I have looked around the internet for advice but I am finding the information to be confusing and conflicting. Is anyone else in this situation that could give advice ? or does anyone know the tax laws and able to…
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HMRC and stopping interest charges
Hi hope this is the right place to post this!!! I have outstanding tax of about 9K Interest is being added to this. Amseeing my accountant next wednesday. I havent filled in tax return for 08-09 ( I know silly of me burying head in sand again!!!) I have since Apr 09 been PAYE and paying tax also paying £50 per month off…
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VED (Road Tax) anomaly - this is good to know if you like fast cars!...
If your car was first registered between the 1st of March 2001 and the 23rd of March 2006 and it produces more than 225g/km of CO2 it is moved to band K. I have no idea why, but I have a 2002 BMW M5 with a monster 5.0 V8 engine and I was expecting to pay £400+ road tax but it turns out I only have to pay half of that! So…
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Is it true?
Just a quick question if anyone could help - does 'tax-deductible' REALLY mean 'gross profit deductible' for the self-employed because if it does it means i pay for 70% of my expense from my net profits - all hail, Gordon Brown!:eek:
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New business
Hi im employed already but ive started up my own business along side what im employed to do (so my business is my second job) its a completely different area of work, id like to know how i go about working out my tax if i earn over what ever the set figure for the tax year is my business has been up and running for a week…
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Gift to family
Hi. Not sure if i am in the correct section but here go's. My mother would like to make a gift to her children to reduce her savings! How much and how often can she do this ?.
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How can I pay less tax?
I just come into the higher income tax band, only just. My husband however, having been made redundant at aged 50 has struggled to find a job, and has just found a low paid job. Can I somehow transfer some of my pay to him, so that I fall below the higher rate tax band, as it seems hard that i pay additional tax when he…
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MSE News: Savers urged to claim tax rebates
This is the discussion thread for the following MSE News Story: "Savers who have overpaid tax are being encouraged to claim back their share of a £200 million pot ..." Read the full story: Savers urged to claim tax rebates
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Changing name on property deeds.
Hi from newbie, apologise if this is not in the correct spot. 7 years ago my wife and i bought my mums and dads council house for them ( borrowed the money on my house ).We do not get any rent from them.For the past few years i have been saying i will get round and transfer the title deed name from my fathers to my…
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drawing cash out of business / personbal account
My wife and i rent out two houses and have now set up a small hire business which takes cash on a weekly basis. My wife who runs this is classed as self employed and pays NIC. All the money for these activities is declared legally and honestly through our tax returns. The business and the houses to rent were set up using…
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Can i claim a computer on my tax return
I started a small business last year and having been making do with my old computer which is sadly on its last legs....if i buy a new one can i get any of the costs off set against my tax. I am new to being self employed so any help would really appreciated. thank you again
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timing of tax return
Am I correct in assuming that the SA return for 09/10 should be completed by end of 2010?
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Council tax benefit
I am trying to apply for council tax benefit. I live with my mum who is a pensioner and on a low income. we have been on the entitledto and local council website and think that we would be entitled to a reduction in our council tax. I started filling the council tax benefit form but I am a little confused. It doesnt seem…
