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income tax calculation
Using the tax calculator I entered my gross annual income of £7279 state pension and £5859 private pension .The calculator then gave me a tax to pay figure of £33 per annum .I am currently paying £60 per month in tax .Can anyone explain this anomaly please ? £33 seems too good to be true . ( I am 70 years of age and…
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Self employed-working from home.
I've looked on the board but can't find an answer. Can anyone tell me or point me to a website that gives details of the % of utility bills you can claim when self employed and working from home please. Looking for % of electricity, broadband/phone that I may be able to claim for one room in the house. Is there anything…
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Claiming for daily dinner expenses?
Just getting all my stuff sorted for this years tax return. I have a quick question with regards to food! Are you able to claim for buying a butty each day from the shop even if you don't ever take the receipt (they never print one to give me) or am I stuffed with this an dnot able to claim? I've done it for years and…
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Request for Tax Return
Can anyone tell me what the letter looks like requesting a tax return to be completed? Is a paper return included with the request? Registered a business starting Jan 09 as a part time self-employed while holding a full-time job elsewhere. Not heard from them requesting me to complete one... Registered for self-assessment…
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Tax treaty with the US
I am currently looking into publishing ebooks, the publishing company I am considering has emailed me the details below regarding tax, they are US based, would someone be able to tell me the withholding rate percentage between the US and UK? Any other comments would be welcome as this is all new to me. Thanks in advance.
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Buy to Let Mortgage or Mortgage Free??
Hi guys, Oh gosh, this site is fab! Was chatting to someone at work today about it and could anyone answer these questions for her....... She remarried over a year ago and now rents out her old house. It is mortgage free (:j lucky her!!), and she intends to do self assessment (think she started renting it out last…
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Grandmother is gifting me her house, what is my tax liability?
Back in 1995 my Grandmother was approached by the local council (of whom she was a tenant) with details of her 'Right to Buy'. As she was already 73 and disabled with no income she asked me if I would like to see if I could get a mortgage for her property. She had by then lived in the house for over 40 years and was…
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Refund due or not?
My OH's tax code changed in Nov to incorporate uniform allowance backdated to 2005. Since the tax code has been applied from Apr 09-10 this surely means he has overpaid on tax from Apr-Nov 09? So far there has been no refund in either chq form or through wages. Anyone know what should happen? Thanks.
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Sharesave & CGT advice needed
My wife has a sharesave scheme which matures on 1st Feb 2010. she has paid in £15000 over 5 years and gets an additional £1525 'bonus' the total number of shares she will be able to buy, at today's share price are worth £35500 i am aware that she can pass some shares to me free of CGT and that she can spread the sale of…
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Advice on where to put eBay fees
Good Afternoon I am self employed and sell items that I make on eBay. This is my first year and I am doing my own accounts, as they are quite straight forward. Especially after I saw an accountant and he advised me, to save money do them myself. My question is do eBay fees count as a "cost of sale" and so get taken away…
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Can anyone advise me on capital gains tax?
Hi, Can anyone advise me on letting relief - I don't really understand how it works and cannot get hold of an accountant at the moment - they all seem to be a bit busy! I had a second property which I lived in for 8 years and then rented out for almost 14 years. Due to financial problems and divorce I have just sold it and…
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Scared my NT tax code is wrong!!!!
Hi I'm really worried that my NT tax code is wrong. I declared myself Bankrupt in July 2005. However in Spetember of the same year I became a full time student and therefore the offical receiver decided I would not have sufficient funds to arrange a repayment plan. I was discharged in January 2006. I worked and was paying…
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Self !!!, help please
Can someone please help me to complete my self assesment. I try Registration and Enrolment get though all the stages then put my UTR and Nino in then it says ;- ERROR: The details you have entered are either incorrect or you may have already enrolled for this service. If the problem persists please contact the HM Revenue &…
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Tax Rebate ?
Hello and sorry if this is in the wrong section. my question is when should I apply for a tax rebate, I got made redundant 31st dec and now get a small company pension so I intend to not work again, I was paying 40% tax, should I claim for a rebate now or wait till april and the new tax year ? thankyou.
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Self-employed
I was made redundant sometime in April 2009 due to recession, and didn't sign on JSA till something like August 2009. So far I have not managed to secure a full time perm job but freelance and contract-based work did start coming in. So I registered as self-employed with HMRC online in November 2009 and so far, I have not…
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inheritance tax?
hi all please bear with me while i try and explain this as im "very" confused on whats my options i havent made an appointment yet with a solicitor but plan to do so soon , i was just after so advice/answers before i make the appointment im 27 yrs old, own a smallholding ( with house) which i paid roughly £300K for ( out…
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7 year rule on gifting property
Can anyone give me advice please. My parents put their house into my name over 7 years ago. My mother died in July 2009 and my father is now terminally ill. The pensions he receives will cover any care home fees should it arise. They have lived in their house without paying us any rent all of this time. The inheritance I…
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Tax on Beneficial Loan
Hi all. Happy New Year! I was wondering if someone could give me some advice. I have a beneficial mortgage....details as follows... Total amount of mortgage £130K Amount on staff rate £44k at 0.5% (this is 4 x my salary which is the maximum amount I am allowed to have) Remainder on 1.19% above base rate. My tax code has…
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Offsetting Tax from Mortgage
Hi I currently have a mortgage for a residential property that allows me to make overpayments without a penalty. I now however want to lease out my house, I will have to change the mortgage in order to do this, this will result in increased interest payments, a new arrangement fee and I may be penalised if I make…
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how to prepare schedule d ?
How to prepare schedule d ? Who can recommend me any easy-to-use software? Thanks!
