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Tax deadline and registration help!
Hi I was wondering if anyone could answer this question/s for me: I recently registered (late) self employed in order to declare some earnings that I made in 2008-9. This was on 6th January and I am now awaiting a UTR in order to complete my registration for online self-assessment. I’ve just been told that I probably will…
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payments in the wrong tax year..
sorry about the title, not sure how else to word it! I do a tax return as I do a little self employed mystery shopping. I'm trying to finish my return off now and have got myself all confused :rolleyes: I did some work in April 2009, in the 2008-2009 tax year. By the time the companies paid me it was the 2009-2010 tax…
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tax on rental property
Hello - I am new to this forum -please could someone advise - I purchased a property for rental, but first had to renovate the property, by fitting new windows, central heating, kitchen, decorating etc - Can you advise if this expenditure is classed as capital? In the same year I let the property out so therefore have some…
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New Contract & Limited Company Set Up
Hi All, I am looking for a new contract role and once I secure one will need to set up a Limited Company. My question is would it be easy and cheaper for me to set this up myself or are there any benefits in allowing my accountant to do this? They said they can set one up the same day. Also the role I've applied for is…
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Pay Self Assessment Bill. HMRC unclear.
I have completed the self assessment tax return and I was presented with the bill online. It said the amount is due before 31st Jan which I knew. I want to make the payment now, but the 'how to pay' guide about paying via bank transfer is unclear.... http://www.hmrc.gov.uk/payingHMRC/selfassessment.htm#5 The help page…
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Address of HMRC?
Hi all, can someone tell me the address of HMRC where to I should send a letter for claiming tax relief? Thanks!
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Payment to HMRC: Cheque clearance times?
* If I post a cheque TIMED TO ARRIVE AT the Bradford office on Thursday 28 Jan, what is the earliest day it will be presented to my High Str bank for payment? I am assuming it would be Monday 1 Feb. * The HMRC website says interest rate on late payments from 29/09/09 is 3%, so at a rate of around 0.01% per day, I could…
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RBS Bonuses paid from our taxes
http://www.facebook.com/group.php?gid=417490570190 Billy Bragg is withholding his taxes unless Alasdair Darling uses his veto to limit the size of bankers bonuses. I've linked to his facebook group. More information here. http://www.guardian.co.uk/commentisfree/2010/jan/18/withholding-tax-rbs-bonuses I must admit that I…
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Self Assessment & Student Loan Pre 98
Hi, I am filling out my 2nd year Tax return. I have a student loan pre 1998 and that i have not started to pay off as never reached the gross income per month requirement to pay. Now I havent reached it yet but would like to start paying it off. My question is can i for the tax year 08-09 take a lump sum out to start to…
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Personal car purchase - what can I claim?
This is my first post so please be gentle!!! I have been self employed for approx 18 months so am about to complete my first self assessment form. I operate a business / marketing consultancy from home but do the majority of my work for one client approx 20 miles away. Shortly after registering self employed I purchased a…
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Sole trader versus ltd company
I'm just setting up on my own and want to figure out what would be the most tax efficient way to go either sole trader or ltd company Does anyone point me in the direction of some kind of comparison tool or spreadsheet where I can enter various income projections and work out what taxes/NI etc would be due for the two…
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Tax Coding of D0
I got a coding notice from HMRC stating that my tax code on the salary I received from my employer starting in April 2010 would be D0 and I'd be taxed at 40% on everything. Looking this up it stated that this code was normally used for secondary sources of income. Now, I'm begining to fret because I'm a lone parent who…
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How much do you need to earn to pay tax in one year?
I am just wondering how much you need to earn in a year to be taxed on it. Because I heard that up to a certain figure is non taxable. I earnt £4659.36 in the tax year '06 - '07 and was taxed £420.48. Is this ok? Thanks for any help.
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Capital Gains Tax
Hi I wonder if anyone could advise on this? 15 years ago my mum signed over her house to me and my brother but continued to live there rent free. She died recently and rest of estate is being sorted out by solicitors but the house is obviously already ours. It's been taken into account for Inheritance Tax but we're still…
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Tax free dividends from own company,how is it done?
You know the thing where, if you've your own ltd company and pay yourself salary just below the threshold for tax and nic's, then pay yourself dividends. How are they tax free ? How do you report them to hmrc (what section?) basically how do you report them correctly but not have to pay tax on them. I know it's possible as…
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Private Health cover - Benefit In Kind
I work for an organisation that has an arrangement with a private company offering healthcare insurance (similar to Bupa etc.). To entice new members they offer 12 months free cover (which everyone goes for obviously) and the the following 12 months at half price before reverting to the standard rate in the third year.…
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Can my wife sell my software?
OK, so in an attempt to help knock the mortgage down a bit I'm writing a piece of software in my spare time that I hope to be able to sell. The thing is that I'm already a higher rate taxpayer from my day job (PAYE) and clearly giving 40% of any sales revenue to HMRC decreases the earning potential from this project…
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Emigrated.....now HMRC are after them....
Hi all, not sure if I have posted on the right board, but looking for a little advice for a relative of mine. To cut a very long story short.... Relative A emigrated to Australia in late 2007. Since 2008, Relative B has been recieving letters from HMRC for A. She opened one and found out they were regarding a late tax…
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Getting new password to input tax return
Just wondering if anyone might know how long it takes to get the second part of the password by e`mail? I`ve managed to forget mine and lock myself out of the system for 2 hours. I have received half of it when I requested a new one its the e`mail bit I need. Thanks
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Mistake made on self-assessment
This is only the second time we have done my husband's self-assessment and I thought we had got it all sorted, but have realised we have made a bit of a boob. We have already submitted and paid last week. Last year we did it correctly and included all invoiced amounts in his turnover, including payments not received until…
