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What Dates Do You Use For Monthly Accounts
When you do your monthly accounts, what dates are you supposed to use for a month. For example:- 1. First day of the month to the last day 2. A standard four week period, which means days in consecutive months overlap 3 A changing four or five week period, depending on the number of weeks in a month Also what days are…
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how come i pay so much tax a month
last month i paid £900 a month in tax , i earn roughly £34000 and my wife earns a mere £5000 , we have a 5 yr old son my mistake i shoudnt count on overtime , my basic year is top line £30,969
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Annual Maximum NI
anyone know how to calculate the personal annual maximum for NI contributions? I recently submitted a refund claim to NI but was rejected because I am below my personal NI annual maximum. However, I am sure I am above the upper threshold limit of my NIC for the year. Any ideas?
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Acceptable taxable expense for rental income?
A quick question.... I rent out a flat and am fairly new to it. Im filling in a tax return, with the 10% wear+tear allowance. Im wondering whether replacing a carpet that was damaged by tenants counts as a repair/maintenance? It was a carpet that was damaged by a tenant but as it wasnt in fantastic condition anyway I let…
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self employed mileage
Hi all, I am a self employed courier and am interested in mileage allowance for using my own van. I cant find any were to input the figures on the on-line SA form. My mileage for 2008/2009 is about 135,000. Any help with this will be much appreciated.
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worried I'm being lied to
my grandmother died a number of months ago and her estate has been valued at between £700,000 and £800,000 which includes 2 properties. There are a number of grandchildren (of which I am one) and 4 direct children who are named as benificiaries. The IHT threshold is £650,000 I have been told by my father that if I sign a…
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Self assessment tax return help
Hello, I'm due to submit my self assessment tax return online, only thing is I have never done it before. I had a friend that did mine previously, but he is unable to help me this time. My outgoings and incomings have stayed the same but my wages in my other job from a PLC company (already registered with tax) has gone up.…
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UK property tax
I have a form where you have to separate out expenses. Where do you put payments for utilities (gas, electric) while property is empty (no tenants?) Also if you are starting to let out a property, how far back can you claimd expenses (utilities, rates, getting it ready) before you find a tenant and start getting rent?
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Tax question
Ok, so i signed up with a job agency months ago, but i'm not actually doing any work for them at the moment, but i was doing temp work at the end of november. At the beginning of december i started a permanent job, but only part time (20hours a week), so i'm still 'with' the agency, to try and top it up. Today i got a…
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Quick Tax code change question
Hello! Just managed to change my tax code after 5 months of overpaying, was told i would be due a refund and my tax code would be changed asap. Does this mean i will get a refund automatically in my wages this month (hopefull i know!) or will i have to wait till the end of the tax year or something? Tax website seems to…
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Should I file a property tax return myself or get a tax advisor to help me?
Hi, I'm just about to file my first property tax return for the 2008 - 2009 tax year and I'm just wondering should I do this myself (if so are there any good guides on MSE or another site?) or should I involve a tax adivisor who would be able to help optimise the tax paid (e.g. taxdoctor.co.uk say they will help with your…
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Self assessment income tax
I would be grateful if anyone could help me with this question. I am on a career break for two years as an NHS nurse. My lastPAYE salary payment was october 2008. However between April 2008 and April 2009 I earned approximately £3700 from part time self empoyed work which I am liable for self assessment tax submission. My…
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electoral roll
At present my partner and i are staying with her parents. they are homeowners paying full council tax. question is - partner and i are'nt on the electoral roll, would we have to pay council tax if we register? Thanks craig
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Submitted tax return - how long until i can pay?
Hi all, I submitted my 08-09 tax return this morning and it told me how much was due by the 31st. However, my account status shows 'nothing to pay', I presume I have to wait for it to update? Anyone know how long it will take? Thanks
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Tax code changed to 313T - any ideas why?
I'm curious about this ... Since the start of the last FY, I've been on JSA(C), JSA(IB) and now I'm on MA. I also get CTC now that baby's been born. I haven't returned to work yet. I received a new tax code two days ago - for the coming FY (10/11) - of 313T. Why is it so low? Is it normally that low for parents, is it…
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Doctors tax amnesty
Just thought I would post here about a tax amnesty being run by the Revenue which gives an opportunity for medical professionals with undisclosed tax liabilities to come forward and settle their affairs and have any penalties capped at 10%. HMRC is obtaining information from various sources, including NHS trusts, private…
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CGT on house
This question comes about from reading another thread. When my father died, the final parent, 12 years ago he left the house jointly to my brother and me. I bought my brother's share after a rough estimate of the value from a cousin who is an estate agent, nothing in writing. It is the only property I own. Please confirm…
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Worried in case I get a huge tax bill.
Hi all, For a good number of years I have been on incapacity beneift and also receive an occupational pension from my former employer. I was always on paye tax and was not aware that my incapacity benefit should be taxed, but I have now found out that I should have been taxed all along as I got incapacity after april 96. I…
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SA and Travel Expenses
Hello, I work as a SE consultant, usually far from home, so I pay the hotel and subsistence bills and later the company I "work" for as a contractor pays me back the hotel and subsistence bills in my monthly invoice. I have been working on the online SA and have it ready to send (and pay, sigh...) however I do not know for…
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self assessment help- property income
Hi all , im new to this site and need a little help regarding my self assessment which is due in online. I am self - employed but also I do currently rent a property out, as to which i make a loss on every month (550 mortgage but only get 500 rent) I thort i wouldnt have to pay any tax on my rental income as i dont make…
