-
Tax code K363????
Hi looking for a little advice, received PAYE coding notice today and won't be able to speak to HMRC till monday!!! PAYE coding notice says my tax code for 2010-2011 will be K363, not really clued up on tax codes but my impression from it is that i am going to be negatively taxed as if i've underpaid this year. My tax code…
-
Inheritance tax question
My friend has parents who are leaving thier 750k estate to the 2 grandchildren because they beleive it will avoid the inheritance tax as it isnt going directly to there 2 children ie my friend and sister.is this correct? i dont think so..:confused:
-
Tax Code advice Plz!!!!
Hi everyone!!!! i just started a new job ..... my first since leaving uni and i recently rec'd my new tax code and it was 0T...now my tax code knowledge is pretty basic.... 1. my wage get taxed, 2. taxes are made of letters and numbers ...numbers usually x10 and shows what is the allowance before tax however i have never…
-
Company Car Tax help.
I've searched the threads and am none the wiser but we are trying to work out if we are better off getting rid of the company car this year or just the fuel card. :confused: If anyone can help I would be eternally grateful as it's soo confusing. I have all his paperwork out so will list some... Gross pay £45,873. Tax code…
-
Tax Code
Our son just asked me to check if his tax code is correct. Its 647LC. I know 647L is the 'normal' code, but confused by the 'C'. Could this possible be related to his student loan repayments. Thanks for any replies.
-
Repayment supplement - Is it tax free?
I have a fine example of the inherent instability of the Self Assessment system. For several years I was one of the pioneers of the on-line tax return BUT I acquired a source of untaxed foreign income and a modest "trust" income while I sorted out the estate of my late mother. This meant I had to go back to the paper…
-
New car and Other expense for start up salesman
HI there, I work as a sales agent and have just had to become self employed. The single biggest outgoing will be funding a vehicle. As I am setting up the business from scratch I'm trying to work out which is the best route to go down. I can be self employed or form a ltd company. I would love to hear other peoples…
-
Tax code D0???????
Help!!!!!!!!!! My husband took ill health early retirement in September 09 - he's nearly 60. He gets an ill health occupational pension of about £270 a week and got a tax code of 647L. This morning he got a new tax code through for use from April 2010. The letter said the tax code will be D0 from then, which they say means…
-
Another Probate question
If a husband leaves all to his wife is it necessary to go through Probate???
-
CGT & Self Assessment
In Dec 2008 I sold an investment property. Prior to the sale it was transferred into joint names (husband and wife) to make use of both CGT allowances. When filling in the self assessment online forms can anyone tell me whether I should put in the actual purchase & sale prices & associated costs, or halve them so that the…
-
How do I work out expenses?
I was looking on the HMRC for notes about working out expense but I don't see anything that included various expenses, i.e. telephone, electricity, stationary, etc. I have found noted mostly about working out the mileage. I have a few notes of mine, but I want to know if anything has changed. Does anyone know where I can…
-
Self-Assessment. Do we have to?!
For approx 3 years we (OH and I) let a house and both did self-assessment. On our last return (last year) we put down on it that the property was no longer let and we would not be filing a SA the following year (this year). Today, 15 Jan, we have both received letters stating we need to do SA by 31 Jan or risk the penalty…
-
MSE News: Last chance for online self assessment taxpayers
This is the discussion thread for the following MSE News Story: "Anyone due to file an online self assessment tax return at the end of this month who's not yet registered their details should act immediately or risk a penalty ..." Read the full stories: Last chance for online self assessment taxpayers and 11 days to avoid…
-
undeferring capital gains
Hi, in 2007-08 I got lucky and made a capital gain above allowance. I made an EIS investment in that year and deferred part of my capital gains. 2008-2009 year I have no capital gains. Is there any way I can offset some of my deferred gains against my allowance, or do I have to wait until I sell my EIS shares (at which…
-
Income Tax Help Please!!
Hi keen moneysavers.... I was on a work year out of uni from Aug 2008 to Aug 2009. Given that the tax year runs from April to April, should I be able to claim some tax back from April 2009 onwards (I haven't had another job since)? From April-September 2009 I will have earned £10k, but am I right to believe £6k or so of…
-
Second income tax advice please
Are there any Tax experts out there? I am hoping you can give me some advice, I've tralled the internet and cant find the answer... I have a full time job, I am now on SMP.....plan to go back to work when this runs out beginning of June ( if my sums are correct!) I have the opportunity to start my own business working form…
-
Can Remortgage fees be offset against income tax?
I am completing self assessment for the first time for one property which is rented out. Income and outgoings are quite straightforward however I understand that remortgage fees can be offset against income tax and not capital gains but I am unsure on how to show this. The property in question was bought a few years back…
-
Please help me!!!
Dear all, Newbie here. I have a question re PAYE tax. In 2008 I started a new job (I was employed for all of this year) and I was made redundant in Feb 09. I was then out of work until Sept 09 and I am contracting. I spoke to my local tax office and the guy did a calculation and said I should be entitled to around 3800 in…
-
Self assessment question about working out
It's an easy question, just hard to find someone who knows the answer! lol My income is A expenses are B capital allowance C so they say A - (B+C) = profit which makes sense, but where do I allow for stock I still have? Do I add it to turnover or deduct it from expenses? Thanks in advance for anyone who knows!
-
Milage and expenses question
Hi all, I'm a sole trader using his car for both personal and business use. Some of my clients will pay expenses in full, some pay 14p a mile, some won't pay anything (say if the job is local). So, for example: Invoice 1: Job cost £300 Parking £5 Congestion £10 Milage £10 Total £325 Invoice 2: Job cost: £300, client pays…
