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CGT on inheritance ?
Evening all, Ill say sorry now incase this becomes long winded, I lost my mother and my gran on 24/06/2009, On my mothers will I have been the executor thier was very little to handle as I was the sole benifactor and her estate was small. No probate involved. I owned the property my mother lived in as joint owners eg when…
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how shall i pay my wages? can anyone help
Hi Ive recently started a new second hand car business and put around 65k in to buy stock can anyone give my advice on the most tax efficient way to pay my wages Do i register as self employed or Paye Do i pay myself a certain amount and then take dividends or is there another way? someone mentioned about the money put in…
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Tax code
I have just started a new part time job (12 hrs) per week. When I joined the ompany I filled a p46 and said this was not my only employment. My other employement is with a college - (but not on a regular basis) and I have declared that I do self employed work as a gardener and therefore fill out out the appropriate form on…
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Working for Norwegian company - tax
Can someone advise, neither my company or UK tax advisors seem to know. Recently started work for Norwegian company but based out of UK and travelling overseas constantly. I will not perform any work in Norway. Just returned to UK from overseas (currently non resident) so UK residency will not be decided until April 2010…
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Is there a way.......
Hello The scenario:- After a 3 year battle with my insurance company they have finally paid out on a critical illness claim after I had a stroke at 34. Due to the Financial Ombudsmans final decision they have also paid out the interest for the 3 years. They have deducted 20% interest only) for tax before sending me the…
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Capital Gains Tax On Second Home
Appologies as I am sure this issues has been covered before but I am lookign to see what tax I will pay on the following: I purchased a property and lived in it as my main residence, I then moved out & rented the property for a period, then I sold it. Feb 2002 – May 2004 - Main residence (Approx 2 Years) May 2004 – April…
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Do we pay tax on cash gift?
Hi all I am new to this forum and I need some help desparately! My neighour bought me a massage chair in 2004. He gave me £5000 to cover for it by issuing a cheque to my name, so I cashed the cheque at my bank. Unfortunately, he passed away sometime this year. I am not sure whether he had given out other cash gifts to…
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Privat hire driver / tax
Hello there, Can any one help about what I can claim for at all as a private hire driver I don't earn a great deal however enough to pay tax. It is my only job, I earn 50% of whatever is taken. (It is not my vehicle, I don't pay for the diesel.) For example- I have a 12 mile round trip in order to collect the car and come…
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Large lump sum as a gift
Hi.. I've read this post but it's not really too clear around implication of receiving a large cash gift so I'd appreciate any other advice based on my example... http://forums.moneysavingexpert.com/showthread.html?t=2061541 My father died a year ago and my mother started living with my sister, now my parents home has been…
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Complicated inheritance tax from the Netherlands help please!
Hi I'm from the Netherlands and have been living here for over 10 years, my parents want to do a bit tax reduction in Holland. What happens is they give me a one off gift which I then lend back to them for an annual interest cost. I'm not exactly sure how this works, as this is Dutch inheritance tax rules being used, but…
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VOA want to visit...
Hi all, I've just moved into a four bed detached that was extended from 3 beds in 2000. Currently we pay Band D Council tax (about £1400 a year). Yesterday though, as expected I received a letter from the VOA saying they want to come to the house.... look around and take some photo's. I know that they are going to now bump…
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VOA want to visit...
Hi all, I've just moved into a four bed detached that was extended from 3 beds in 2000. Currently we pay Band D Council tax (about £1400 a year). Yesterday though, as expected I received a letter from the VOA saying they want to come to the house.... look around and take some photo's. I know that they are going to now bump…
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Tax Code "BR" - To Be Changed - Tax Refund
I am now working for Currys, I used to work at a coffee store (no names). I left the coffee store and never recieved a P45. I am now at Currys and have been since August, but I am on tax code "BR" and am being taxed, its quite a bit out of my monthly wage as I am a student and all the pennys count. Anyway, I have rung the…
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PAYE rebate... Am I correct?
I was made redundant in June 2009 and set up my own company in July. In the last three months of my employment (April/May/June) with my old employer I earned £54816.00 and paid £19408.40 in tax. According to my calculations I should have paid £11856.40 so should be due a rebate?
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Is it worth us writing a will?
Here is our situation: * Married couple * Each have two living parents and one sibling each * Both full-time employed standard rate tax payers * No major assets other than house and approx 5% in mortgaged house * Equal joint owners of all assets except e.g. pensions and life insurance policies As far as I understand it by…
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Council Tax: do I have a case?
Brought a house on 31/07/2009 for £142,500 currently this is band C Looking at the Nationwide house price valuator the price in 1991 Q2 is £49,308 over £2,500 below band C (so Pass!) I live in a long street all with different houses but I live in a row of 10 houses built the same though allot have put small extensions on…
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Setting up as Self employed
My son is working part time as a fitness coach. He has been doing it since early this year, however was not aware that he had to pay any tax ???(dont ask me...I told him) What does he need to do to set up as self employed? He decided to sort things out and went to see his bank about setting up a seperate account for tax.…
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Car Allowance or Company car
I'm sure there are plenty of posts on this! I recieve £4000 / yr car allowance £0.20 / business mile High tax payer also. I travel 20000 personal miles and 12000 business miles / year. I've asked for an increase of car allowance or a all expensed company car. I have been offered use of a pool car for business miles and I…
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Help - Tax records destroyed
Hi, Set up as self-employed and filed my first return last year, decided to do this years at the weekend and despite turning the garage upside down cannot find them anywhere. I can only assume that during a clear out in Summer my daughters have thrown them out by mistake. I now have no records at all for last year, which I…
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Claiming for laundry of work uniform
Hi guys do you know how i can claim for laundry of my work uniform? I believe that they is a small yearly amount claimable against the IR and that i can claim back for the last 6 years. Is there a templete letter available to use? regards Bruce
