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Minimising the PAYE burden on a business.
My father in law's former business employed me as it's only full time all-year-round employee. Other workers were taken on as needed. (The business ran one large event once a year) So we had around 10 - 12 people working for two months, and a further 12 or so people working only over the Saturday and Sunday of the event.…
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Tax advice - end of self employment
I was working on a self employed basis for just over two years until July, when I was told I was no longer needed. I've deregistered(?) as self employed as I'm 68 and don't expect to work again. My total earned income for that part of this year was about £7,500, paid gross. Net profit from work last year was £18,370 -…
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Stamp Duty - Mitigation
There are a number of firms who offer a service whereby you can avoid paying the full stamp duty (or basically pay less somehow). Certain criteria have to be met e.g. buy in joint names, buy over £500k, etc. However they all claim there is a loop-hole in the current rules which enables them to make you a saving. You end up…
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I'm scared
I just found out my tax code has been wrong all year it's bee at 420l when it should've been 4T! OMG how much will I have to pay back next year now? I'm on about 20k and have to have a company car for work.......
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Allowable expense for Landlord?
I have a maisonette that I used to live in but now rent out as it is too small for my family. I complete my tax return for last year no probs but this year I have exteneded the lease (it was reaching 60 years) and it has cost me nearly £10000 Im pretty sure I cant claim relief against the actual cost of the lease but…
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Tax on rent
Hi Im hoping someone might be able to answer a question for me. My son bought a 3 bedroomed house to rent out about 5 years ago. He charges the same rent now as he did then (£500) as Housing Benefit pay it for the young family living there and it covers the mortgage with around £100 left over which he uses to replace…
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Must I declare Christmas present cheque?
Hi Self employed but work reguarly all year round for a client. They paid me my usual wage this week but in my Christmas card there was a cheque for £50 as a thank you. Do I have to pay tax on this cheque?
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Council tax
Dont know if this is posted in correct thread but here goes: My late fathers house is up for sale and the six month exemption of free council tax is up, the council want me to pay full council tax even though there is no one in the house and it is unfurnished, as no services are being used can they do this. the house is…
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Am I tax exempt?
I have been working abroad since slightly before April 2009. My work contract is due to end before the next April but I do not intend to return to the UK immediately (or if I do the total time spent in the UK for this tax year will still be less than 90 days). Do I qualify as tax exempt for the 2009-2010 period? Or do I…
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Protective Property Trust Wills
Looking into this at the moment. Can anyone offer any advice or tips into doing this.? Have hunted the web, but would appreciate any neutral advice, rather than sites trying to sell their services. Many thanks.
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Inheritance - divvying up the estate of Mr Dog
Back in the autumn of 2008 I became the executor of the late "Mr Dog", appointed by his partially intestate will: http://forums.moneysavingexpert.com/showthread.html?p=27964855#post27964855 As his estate turned out to be about twice as large as anyone had expected, there was some InHeritance Tax (IHT) to pay. The will made…
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Inheritance Tax Help!
In 2003, I was persuaded to take out a discounted gift trust on my father’s life. He was in his late 80’s and needed an income to pay towards care fees. He had about £100,000 in cash assets and this was placed in the DGT. I was advised that the donor’s fund would be about £35,000, thus reducing his estate for IHT by this…
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Dividend from US Shares
I've some shares in a US company which are held by Citigroup at their Chicago office. I want to verify that I am correctly handling the annual dividend payment in respect of UK tax liability. Suggestions on good sources of information and help me would be appreciated.
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Freelance allowances question
Can someone please point me in the direction of a page online that covers the typical allowances for freelance work ie accommodation, travel, subsistence, capital allowances etc. I keep hearing conflicting reports about what is or isn't allowed. And are there any benefits to setting up a limited company as opposed to being…
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VAT on new Volkswagen
I am ordering a new VW Passat today and have been told that I will have to pay 17.5% VAT because deilvery will be next year 10-12 weeks. Is there any way of avoiding the VAT increase?
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How Much Tax???
Its a long story and dont really want to get to deep into it, but im a ltd company and expect to of earned approx £17500 by the end of the year,could some kind person please tell me how much income tax roughly i will pay on this please. Thanx in advance
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Fuel Tax - P11D
How is the tax calculated, I have a BIK for fuel of £3852 - assuming a 40% tax payer is it just 40% of this total ?
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split year treatment for non-uk residents
If someone leaves the uk to become not resident + not ordinarily reisdent part way through a tax year I know the aplit treatment applies. But are there any forms etc to fill in?
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Paid more tax than everyone else at my new job!
Hello again chaps, Quick question- should be an easy one for the old hands here! I have just received my first monthly paycheque from the first job Ive had this tax year. The salary is 26500 (with an extra £153 a month in taxable benefits), and Ive paid £196 for NI- fair enough- but Ive also paid £364 tax. Surely I should…
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Have I overpaid on student internship?
Howdy chaps, I had total earnings of £7824 while under the 543L tax code (tax year 08/09) for a summer internship, I have been taxed £1111. Is this too much? I put these values into listentotaxman dot com and it says I should have paid £739.79 tax/NI, however I put the £7824 in as an annual salary even though it was earned…
