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retirement tax
Can anyone tell me what tax i should be paying now im retired. I get £8008 state pension plus £2718 occupational pension. I've been given a code of 171P which is the same as when i retired on 1st Nov 09, which i found surprising! Im on the higher personal allowance.
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Un-earned income
I had to pay back a legal chargee loan of £9,000 plus interest to friend. I took out a loan and paid back £18,000 still owe another £8,000 which along with the some of the £18,000 is all the interest. This friend is doctor and earns over £80,000 a year. I asked if he has told the tax man, he said no, as hes allowed so much…
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Tax return details
Hi everyone, Can anyone confirm my understanding or suggest how I should go about this. In Aug 2009 I was made redundant and took early retirement at the same time. (So I am on a company pension, lot lower than my salary was). The redundancy was >30K so I paid tax on the excess over this amount. I am now considering my tax…
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SE Spreadsheet of somesort....
Hey all My H2B will be commencing self-employment as of Jan 2010 as an auto-electrician. Does anyone have a Spreadsheet of someworts that i could use to keep a tally of what he is earning etc - it is similar a job to any trade but i ca do some adaptions. I am 'in charge' of keeping accounts for him but i also work 18-20hrs…
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MS works 6 spreadsheet problem for me
I wonder if anyone can help. I am using MS works spreadsheet 6 and have a problem Sorry I tried but I am unable to paste the spreadsheet formulas What I am trying to do is calculate the likely tax owed at the end of a year 123456etc are the row numbers A B C D E are the column numbers 7000 is the amount of savings interest…
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self assessment-- Am i doing this correctly
Hi all, I was hoping some of you who are more knowledgeable on these matters can advise if I am doing this correctly. I am employed and pay tax directly from payrole. I also buy and sell via ebay so am registered as self employed and complete a self assessment tax return for this online. My first trading year was 07/08 and…
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Council tax - under what conditions can payment be delayed/not payed?
Our council tax is well over £100 per month and this week they have not collected any of the rubbish in our block of flats. The rubbish has been piling up and is spilling all over the pavement. It is disgusting and a health hazard. Are there any clauses in the council tax contract which allows you to delay payment if the…
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Such a mess with taxes!
Hi all, please I need an advice or I'll go mad about all this. I am full time employed and registered self employed. In my employment I took a health insurance last year which is a taxable benefit (calccelled after 1 year). The HMRC , like always, did not notice that I had this benefit until last year, so they adjusted my…
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Tax Rebate
Hi there, I was wondering whether I could reclaim tax from this tax year (2009 - 2010). I have quit my job and won't be working until the next tax year at the earliest (guaranteed as I am at university). I have my P45 from my job so can I send in a tax rebate request for the tax that was payable from April 2009 -> now. (I…
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confused need advice on expenses
Hi folks, just a quick question. I work in england but live in scotland i do 9 on 5 off shift, i pay my hotel bill and claim it back off employer, i also claim £5 per night for meal, question do i need a reciept for the meal and does that reciept need a vat number on it, as some of the greasy spoons i eat in just have…
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when to fill out a self-assessment
I became self-employed in June 2009 and notified HMRC of my self-employed status, will I need to wait until Jan 2011 before completing my first tax return or will I have to do one in Jan 2010?
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Tax code
I have worked for the same employer for over 10 years - on this months payslip my tax code has the letters NONCU after it. Previously the letters have been CUMUL. Can you explain what this means?
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Savings Interest Tax?...
Hi, I recently got a tax bill from a few years back when i'd received interest on some savings but it was collected at standard rate instead of higher rate. Hence i had to pay the difference plus interest back to HMRC. I'm about to remortgage my house to which I currently have an offset savings linked mortgage, meaning i'm…
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Proving Income over 6 years ago to HMRC
Hi All, Wondering if anyone can help. Basically, if you've paid tax on income from a rental property but at the time you were a student and therefore any income generated falls within your allowance how can you prove this to HMRC? They only accept bank statements and not P60s but if you're going back over 10 years ago…
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Tax allowance - voluntary NI payments?
Just a quickie A person whose only income is from savings income interest is paying voluntary National Insurance contributions Is the NI payments tax deductable? I have browsed the internet for an answer but could not find anything - so I guess not - however if you know different please reply Thank you for your help
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Gain on property
Hello Asking on behalf of my dad. He got the title deeds to my grans flat about 10 years ago and she lived there rent free for that time. There was no consideration for the property. She has now moved into a care home and my dad wants to sell the property. He has been told that the capital gain will be charged on the price…
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tax rebate
i filled in my online tax form last wednesday and it said i am due back £90 on friday i recieved £90 from hmrc in my bank account is it normally this quick to get your money from them?
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Offshore tax haven - good idea?
Hi all. I've been self-employed for 5 years and about 12 months ago my business changed direction and really took off. I've had the same accountant for the past few years when I was grossing around £30k a year. In the past year my income has, thankfully, gone upwards by a large margin and I'm now looking to change…
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Can i do this?
Hi im looking for some adive>>>>>I have just got my tax bill through, and the tax i owe for 2009-2010 can i buy machinery for my workshop and deduct it from my tax bill or will i have to wait to my nex tax return......Thanks
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Dividend Income and Capital Gains - am I due?
Hi, just looking for some advice before I phone the tax office. for the Tax year ending April 2009 I took the following on dividend income and capital gains. Do I need to fill in a tax return? £346.58 Dividend Income £257.43 Capital Gains Just reading the HM Rev site I think I don't as it's below the £9600 threshold for…
