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Reclaim Income Tax? 300k
Good afternoon. I was unemployed from Oct 2008 until March 2009. I worked as a broker (stock market) between March 09 until August 09. In that time I paid approx £300k income tax. I have been unemployed since I left that job in August 09. I have not claimed any benefits in periods on unemployment. If I do not work until…
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CGT and IHT when living in a family property
We are planning to move into the family home and my parents would like to sign over the mortgage free house to my wife and I to prevent us being forced to sell it due to the ridiculous amount we would be liable for IHT in the future. Can anyone advise on the following: 1. Would we have to pay CGT on our own mortgaged…
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National Insurance Underpayment
Hello, Can anyone advise whether it's worth repaying a National Insurance underpayment? My partner has been advised that he has underpaid N.I contirbutions by around £500 for the previous tax year. Not surprising since he works as a supply teacher and had an erratic working pattern over the past year for family and other…
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Tax on bonus
My mum is receiving a bonus of 2k for December only. She earns 29k per year so she is not taxed upper limit. Since the 2k will be added to her monthly wage, will the bonus be taxed more because it goes into the upper tax limit? Can she claim any of the tax back ? Thanks!
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Business Rates
Hi all Could someone tell me, if Business rates is public information. i.e- i would like to know what the name of the company was that was trading at a premises and for how long they had been trading? Thanks in advance
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Friendly Society tax free life policies
My friendly society life assurance policy/bond of 10 years standing is coming to an end. I think you can invest /pay premiums of up to £270 a year, and theoretically get tax free gains. Which are the best qualifying friendly society products on offer now? Should Martin do an article on this topic?
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Council tax - 3rd person moving in?
Hi, there was just me and my flatmate living in a 2 bed flat; and we registered the two of us to pay council tax. However my flatmates girlfriend has just moved in; does this mean we need to pay more council tax? All I can find out is that if its just 1 person you pay less; but what about more than 2? Thanks :) edit: we're…
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offshore gilt fund - how do i bring it onshore
hi have just come into an offshore usd class gilt fund (lloyds) . i don't really think i need it offshore and am thinking of paying off mortgage with it - but can't really see any clear idea of how to go about this and pitfalls of bringing it onshore . Are there things i need to be aware of ie tax / exchange rates - ?…
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Tax
If I am on tax code br for my normal job and quit my cleaning job that's is only 3 hours a week will my tax code return to normal? Thanks for any help.
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council tax girlfrind moved in??
My girlfriend just moved in with me a few weeks ago i own my house etc but as we want to move to oz together we have to start adding both our names to stuff to get the 12 months relationship thing to allow her to come with me. I have never really looked into this but was told i could add her to my council tax which is one…
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Advice: Tax Underpayment
Hi, Im a regular poster here recently and i am very careful with money but something has gone amiss. Not sure if you can advise further on this, i put it in the debt forums already. The story is i got my first job, which was my university placement (miles away down in london) and outside of tax on bank interest this has…
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Help pls with CGT calculation
Hi All, I wonder if anyone could assist us please. I am trying to calculate how much CGT myself and my wife need to pay if we sell a rented house that we own. We purchased this house in 1996 for £82K and lived in it until 2001. It was valued at the time we left it around £200K. We have a mortgage on the house now of £160k…
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How Long ?
How far back do you need to keep records of rent earned and money paid in and out ....I sold a house 6 years ago and made a small profit...i have now recived a letter from the taxman with tax return from 2003/2004 ..the problem is i have nothing as i have moved a few times since and lost all the paperwork...i can still get…
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£100 fuel limit allowance for self employed??
hi is it true that you can only claim a maximum of £100 fuel allowance if you are self employed? ive been reading all the posts on here and my other half actually said this, so im not sure if its true. I currently spend around £120 on fuel and its growing, so am a little worried that i shouldnt be putting them all in the…
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Paying too much tax?
Hi people I picked up my wages last week and got £162net . But it was £233 gross. Am I paying too much tax? Thanks in advance.
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inheritance tax help
Hi I have a friend who inherited a property from a family member 10 years ago,he has rented the property out for 10 years has never lived in it himself. My question is since it was purchased origionally in 1988 for about 40000 and is now worth approx 230000 how much inheritance tax would he have to pay if he was to sell…
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Tax rebate.
can someone help here please, just need a little advice. my son was in receipt of income support for all of the last tax year, except for threes month in jan/feb/march this year when he was self employed. income support isnt taxable (i think??) he has sent in his tax return, he owes the tax man nothing, but there is a huge…
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Help with Capital Gains Tax
my boyfriends mum gifted him and his brother her house before she passed away, there was only a period of a few months between this happening and her passing. The value of her estate is below the Inheritance Tax level, however my understanding is they will have to pay capital gains on it. I think looking at the HMRC…
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On single persons Council Tax rate..but partner is moving in,advice pls?
Hello, I have lived in my flat for a couple of years on my own paying the Single Persons Council tax rate (25% discount I think). My boyfriend is now moving his stuff into the flat and living here permanently, so obviously i need to contact the council and stop paying the discount rate. Can I just confirm that I need to do…
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Capital Gains and selling to yourself
Just wondering whether there is any way to sell property to yourself in order to avoid capital gains tax. Story is we have a house that we have lived in for a long time, and its current value is well above what it was when we bought (even after the crash!) If we sell the house now we wont have to pay any capital gains tax.…
