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URGENT Property expenses/rent question self-assessment
Called HMRC been told I need to wait up to 7 working days for a technical adviser to answer my questions. Can any MSERs help as I'd like to get self-assessment out of the way: March 2007: Rental property purchased March 2007 Some furniture etc bought before 6 April 2007(in March) 2007-2008: Completed first tax return for…
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Transfering surplus tax free allowance from patner?
Hi, My partner and I are both in our 40's and live together. Is it possible since she is a non taxpayer for her tax free allowance to be credited against my taxable income? Many thanks :)
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Tax allowance query
Hi Just had my 20010/11 tax coding notice through and as usual I note that they have reduced my allowance to reflect the private medical insurance provided by my employer - nothing of concern there. However, it occurred to me that I also fill out a tax return each year (I have non PAYE Income also) and I always include the…
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Sorry - Another tax return question :(
Hi all, Sorry for my complete lack of knowledge but I became self-employed last Sept (but also still in full time employment) Im aware that the deadline of tax return is due by the end of this month and was planning on doing it online later today but im not convinced I need to do one yet? So my question, If I have been…
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Tax rebate
How long should inland revenue take to process tax rebate. I forwarded p50 with all relevant details asked for and on first contact with them was told it would be around 6 weeks to process due to mail, this was in early November, after contacting them on Friday was told that it would be around the 5 Feb before I would hear…
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Self employed and employed!!! HELP
I am currently self employed, I work 16 hours per week (and some overtime sometimes) I earn £104 per week but taking out expencese etc i earn approx £76 per week. I have applied for a saturday job and got it YYYEEEEAAAAHHHH, I will be classed as employed I will earn £57 per week. how will this affect me being both self…
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Capital Allowance calculations for online tax return
Hi I wonder if someone could help me with capital allowance calculations for my April 2008 / April 2009 tax return. I have no capital allowance for Apr 2008 - Apr 2009 but I do have some carry forward capital allowance from my Apr 07 - Apr 08 tax return. Here are my carry forward figures: Main pool: £5731.88 - remainder of…
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Self-assessment - befuddled and worried
I think I posted my worries in the wrong place, so I thought I'd try again. Most of my income is through full-time employment, and so it is taxed at source. However, I earn an additional £3000 or so through freelance assignments. Obviously, I need - and want - to pay tax on this. A year ago, I started the whole process of…
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Tax return - is a HIP an allowable expense?
Hello just doing the old tax return - yawn!! My hubby has just asked if we can claim for a HIP we had done during 08/09 tax year when we were going to sell our BTL property. It didn't sell so withdrew from market. Is that classed as allowable? thanks
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Self Employed Tax Return, do I need to complete Employment section?
I'm in the process of completing my tax return, but I'm unsure whether to answer Yes or No to this question: HMRC gives this help text: I was employed (paid tax PAYE) until Oct 2008, where I became self employed. So do I need to complete the employment section because I was employed during the tax year 08/09, even though I…
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Fuel card tax relief
Hi all, I would be most grateful if someone can clarify if I have any grounds to reclaim any tax from my fuel card usage; My employer provides me with an annual car allowance to use my own car which goes on my salary slip and is taxed in the usual manor. I am also provided with a fuel card for both business and personnel…
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BTL Tax avoidance - not me!
Hello a friend of mine has a BTL property as do I. Whilst I am honest and declare all my income, my friend has said they will not be doing a tax return as instead they are getting their tenant to pay the rent into a relative's (my friend' that is) bank account who is a non-tax payer. The mortgage is in my friend's name…
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Self Employed. Claiming Tax Relief on Mortgage Interest. Implications.
I've search all over but can't find a definitive answer so perhaps someone on this forum can help. I'm a self employed computer repair technician and carry out my work both at home and at clients sites. I have converted one of the bedrooms into an office/workshop for when I am working at home. It is fitted out with desks,…
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Employed and self-employed
Hi, I am employed full time and pay tax through my employer. I also have a small business (hobby) that i declare to the tax office. I have made a loss for the first time this year in this business. Will this loss be offset by tax payed through my full time job! Probably a stupid question but i have no idea how this works.…
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Payments on account not showing on new tax return
Hi Help with payments on account for my tax return. I am just doing my tax return and when I get to then end it tells me I have to pay (lets say) £6k income tax which is the total due for this year. What I don't understand is that last year I paid my tax due (Lets say £3k) at end of Jan plus a further £1.5k and then a…
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How long do HMRC take in sending a rebate?
Hi all, I recently realised that i'd been filling in my Self Assessment returns in wrong and am owed money. Gentleman from HMRC told me over the phone how to go about getting a refund and I dug out all the relevant forms and sent them off 2 weeks ago. I know they are going to be busy with the online returns but roughly how…
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Am I self employed?
I was self employed tutor/trainer and filing SA for 10+years. When my husband suddenly died in 2006 I stopped working immediately. I have submitted my SA each year since but without reference to SE other than the first year saying husband died and not doing any more training jobs. However I have since decided to retrain to…
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American Tax Preparer for US Expats in UK?
Has anyone got a recommendation for a Tax Preparer/CPA experienced in preparing US tax returns for American Expats in the UK? If not, do you know if the online tax software such as Turbotax etc, would be good for american expats in the UK. These questions may not be answered here due to it being a UK site, but its worth a…
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Code D0 and 647L confusion??
Hi I am fully employed, Salary £32,500 Pension Income, £10,000 I have a 647L Tax Code for my employment (okay, agree with that) D0 Tax Code for my Pension (confused by this). As I understand, 40% tax is due on an income in excess of £37,401 How is it I am paying 40% on my entire Pension?? Shouldn't I only be paying 40% on…
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Do I need to do Self Assessment for Tax?
I started working for myself properly in August of last year (august 2009) due to being out of work (i actually did a little work for myself after being made redundant in May of 2009 but it was not something i was looking to do at the time and thought it was just some extra money until i found a job - but took it serious…
