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Car Allowance and Mileage
Hi, Not sure if this has been answered or not as everything I have read does not 100% apply to my situation. I work for a company where I am required to drive and visit customers. Instead of giving me a company car, my company has elected to pay me a monthly car allowance (£437.50 pcm, but after deductions (tax, student…
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AARRGGHH!!!! IHT, CGT & Income Tax. Triple whammy????!!!!!!
Hi. This is a bit long winded but if anyone fancies getting stuck into this I would be really grateful for any advice. I've searched for days now and have accrued a lot of info but wanted to check with someone to make sure I am correct. Situation. My father passed away in an accident just before Christmas which has left us…
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ltd company coperation tax
in business which is ltd we are introducers for loans etc, we have a coperation tax bill of £13k to be paid for 1st march 2010 we simply cant do it, we owe no one nothing and only HMRC coperation tax lot of business people have said get the money out and liquidate the company thats it ?????????? its our only income and…
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Tax Code for 2009/10 having returned from abroad
Without trying to make this too long winded, maybe someone who is used to dealing with tax issues can give me an answer,, I returned to the UK in Oct 2009 and filled out a form P86 from the tax office I was lucky to get work on my return to the UK and I also receive a pension from a previous employer,,, today I got my tax…
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Norwegian Tax should i pay it??
hi there, i was working in norway for 16 months last year, paying there tax at 36% , i now have a tax bill saying i OWE £434. i cant afford to pay this. i doubt i will be working in norway again in the future, could i just ignore the letters from them ? im wondering how far they will chase me? do they have the power to…
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tax return calculation
Hi, I just filled in my tax return online and got an answer that seems ridiculous. I only earned about £14000 but after filling in my calculation apparently I owe £4000!!! Can it really be that much? To me it seems very high. I can't afford to pay that much tax!! Can that really be right? Thanks.
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CGT on merged property
Does anyone have an idea if I will be liable for Capital Gains Tax on the following: My wife and I live in a central London flat which is 999 yr lease and share of freehold. Three years ago we bought the flat next door (also share of freehold) and initially rented it out. Last year we completed merging the flats into one…
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Tax on Endowment policy
Hi - I was wondering if anybody can help me please? I am completing my tax return (aren't we all at this time of year?:D) and in August 2008 we surrendered our endowment policy. I have put my half of the proceeds on the form and the tax man is taking around £2k off me for my half of the proceeds, but I thought that these…
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Work uniform, no allowance.
Hi my son currently works for JD Wetherspoon as a manager and he does not get any allowances for his uniform, ie, shoes, shirts, ties and trousers. Is there any tax breaks that u can get for uniform?? Many thanks:A
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R40 Tax Refund on tax paid on savings
I submitted a form way back in October 26th 2009 to have tax paid back to me (because of unemployment I had in essence a refund due). However I didn't hear anything from HMRC and so contacted them asking whether or not I had a refund coming. I kept getting fobbed off the excuse "we are behind on the post". Now in January I…
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Overpaid PAYE
Hey, I work full time and pay PAYE. Basically i've overpaid tax already this year, probably because my pay is sometimes really high some paydays but lower others. Anyway, I just wanted peoples advice, is it easier for my to wait til April before I claim back the overpaid tax for the whole year in one go or if I claim it…
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rental income/loss - do i need to do a tax return
Hi. I've never done a tax return before as I've always just had employed earnings. In July 08 I moved out of my mortgaged property and into a rented one (won't go into the reasons why as I don't think it's relevant). I didn't get my first tenant until March 09 (mainly due to taking a while to get permission from mortgage…
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New PAYE system
Hi all - quick question- the new all singing/dancing PAYE computer system- which tax year will it start looking at? 08/09 presumably. Will it go back over closed years?! Hopefully not! Many thanks in anticipation ....
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31st Jan deadline - for ALL 08/09 SA tax returns?
I've been abroad for the last year, working for a charity, though was a higher rate taxpayer until Jan 09. I want (seriously!) to fill in a tax return for 08/09, as HMRC don't get my situation for some unfathomable reason. When I was back in the UK for a few days in September they eventually agreed on the phone that I…
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Tax Return for mystery shopping - This can't be right!
Hi All, Hope everyone is well. Was wondering if you could help a rather confused and fluey me. In May 2008 I decided to try my hand at Mystery shopping. I did three jobs and thats it. Just completed my tax return online to the point of calculation. I put in my employment pages my full time job and then the mysteryshopping…
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Online self assessment help
I am trying to fill in my self assessment online and am getting a bit confused. On the page for "Taxable benefits and expenses" I fill in the figure from my P11D Section N boxes 16 for the amount of expenses I have claimed whilst travelling for work in "Expenses payments received and balancing charges" This goes into box…
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Claiming back tax from overpayments and business mileage
I'm a bit clueless when it comes to tax etc so would appreciate any help. Firstly I started working in my current job 3 years ago in sept and was paying the same rate in tax for 2006-2007 per month as 2007-2008 but was only working for a few months in 2006. Does this mean that I’m entitled to some of the tax back as in the…
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Class 4 NI on Annuity???
HRMC are requesting more Class 4 NI's (on line calculation) than I calculate on trading profit - during 08/09 an annuity was taken for 7 months and additional tax is payable onthis which I agree - but hrmc seem to have found another £600 over and above trading profit @ 8%- and I can see no reason for it except of course…
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Help with tax allowances (40%+)
Hopefully someone can help to clarify these allowances. I have searched previous threads but they appear to be from 07/08. From the following site... http://www.hmrc.gov.uk/rates/it.htm If my personal allowance is £6475.00 and higher rate is paid after £37,400.00.. does that mean my income must be £43,875.00 (£6475.00 +…
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First Time Tax Return- Very Confused
Hi All, Glad to find this forum. I wish I would have found this earlier. I tried to find some answers of my confusion by searching on the existing posts but didn't find any. Hence this post. Apology in advance if I am using wrong section. In July 2008 I set up a Ltd company after resigning from my last job as well as for…
