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CGT has me stumped
I have looked at the govt website and am now really confused. I really dont want to get into trouble with the taxman so would appreciate some help. House A purchased for 90K in Dec 1999. First home. I lived in this house Dec 1999 - Dec 2002 (3 years). Dec 2002 - October 2009 property was rented out. Initially this was due…
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newly self employed help...
My OH when self employed in October and he registered online on the HMRC website. When should he hear anything from them as he hasn't had any confirmation or do they not contact him until they want him to do a tax return?
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Internet tax deductable?
Hi, I have been self employed for 3 years now and previously hadn't thought about claiming for internet/line rental on my tax return-is this something that could be claimed for in part? I don't use it exclusivly for the business but as my business is a online shop it's obviously essential for the business! Thanks for any…
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DoI still pay Class 1 & 4 NI when retired?
I retire next year aged 60.....do i still pay these?....will i still get full state pension? thanks ian
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Change of Tax code
Hi, earlier on the year I worked for 3 months and was taxed under code 601L...I was only getting the equivalent of 14k a year...I have been on benefits until Nov and they now want to tax me on the BR code. I would be taxed 100 quid a mnth more than normal. I have read this code is applied if you have a pension or have two…
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Extra £30,000 tax charges announced last week!
My wife and I are not yet even 50 but do live in London so spend over £2,000 each every year for our annual travel passes. We had both been planning to buy these for the next dozen or so years until we reach 60 - at which point they would become free. Last week's Budget announced that the qualifying age will - for both of…
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want to find out about the new offshore accounts law..
i believe i read in the papers that people who had offshore accounts had to declare this by the end of November. not that i have any accounts myself ! thanks for any help
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how long do you have to pay your class 2
national insurance stamps before they increase. thanks
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Company Car Benefit in Kind
My company has temporarily transferred me from normal place of work to another location 75 miles from home. As part of this temporary transfer I have been given the use of a Company Pool Car and fuel is being provided free of charge rather than using my own car and then claiming mileage expenses. This temporary transfer…
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Off setting capital losses
Is this correct? If a capital loss on shares is made and the Inland Revenue are informed withing 5 years and 10 months of the end of that financial year, then the loss can be offset agains a capital gain indefinitely.
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Tax and "benefits in kind"
My husband works for his family business (a shop). He earns under £200 a week before tax, works over 40 hours a week, and we get tax credits. We stay in a flat which is owned by his mum above the shop and the shop pays for the gas, electricity and council tax on the house. Originally this was done years ago when his mum…
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Piledriver
Please be patient, have just joined the forum and not sure what I am doing, however here goes. I am self employed and registered as a window cleaner with Inland Revenue and would like some advice relating to travel expenses. I use my vehicle for my window cleaning rounds and believe I can claim 40p a mile for the costs…
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Failed my security questions with Inland Revenue
I had a letter saying I was due nearly 2k back and when I rang them up the guy said that it was going to be paid directly into my bank account. I was not aware I was due a rebate and told him this but he said I was. The problem for me is that I have a debt repayment plan with my old bank and I would not want a cheque going…
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import taxes on 'not new' stuff
Folks, After the new year, I'll be heading to the USA to work for 6 months. Rather than take my guitar out there, I want to by myself another guitar while there. Will I be expected to declare it as goods and pay import duties on my return in June and if so, what duties are applied? The guitar is purely a hobby and nothing…
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claiming income tax back
Can anyone advise me if I can claim income tax back for working abroad ,how many days do I need out of the uk to be able to do it ,at the moment i have had 60 days since the start of the tax year .thanks folks
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How do HMRC apportion payments?
I recently received a letter from HMRC stating that I still owed £300 from 2006 tax year. In October this year I paid £500 to HMRC and out of this they apportioned only £160 to 2006. The remaining £340 they paid towards my 2008 outstanding tax. Consequently I still owe £140 from 2006 and am still incurring charges and…
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Cgt
Bought property 20 years ago as a BTL. There is no mortgage on property. My wife and I are seperating and I will move into my BTL property. How long do I need to live there as my main and only residence to reduce or wipe out CGT. The property is in my name only.
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Council Tax - previous years rates
Hi Do any of you clever people know where I can find Council Tax rates for previous years? I have received a letter from Valuation Office confirming my band is being reduced from B to A and my council have confirmed that once they have recevied a copy of that document I will get a refund (yes!!!) I'm just being nosey and…
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Understanding tax codes
I wonder if someone could help me. My husband used to be paid with the following tax code: 647L. He has now been switched to 569L which means about £13 less a month. :confused: I understand the previous code is a code for new employees. But he was not a new employee. He has been with his company for over 10 years!! Can…
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Possible overpaid tax rebate - Do I repay?
I have been paid or all of 08/09, got my P60, all done and dusted. My contract finished end of March 09, but the last bit of pay for work done did not arrive until Month 02 of TY 09/10, but you are taxed according to when you are paid right, not necessarily when you did the actual work? Any way in 09/10 I had several…
