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Utterly confused about sole director vs self-employed
Hello, I was self-employed a couple of years ago and now I have resumed business someone told me that registering a limited company and getting taxed as a sole directory though a bit more complicated would save me money in the long run. So I did register and got my company name and received the HMRC letter which asks me to…
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Self Assessment - Can this be true!
I do my own yearly self assesment as I have some income apart from my normal employment which doesn't get taxed at source. Anway I noticed my tax rebate was smaller than I expected (I paid money into a personal pension so was due a rebate even after having to pay tax on the extra income). Looking into it further it seems…
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P11d what is regarded as expenses and benefits?
My OH and I have a ltd company. He is director and employee and I am employee. We have a business bank account and deferred debit cards. Recently he has been advised by our new accountants that there are certain thing that can be paid for by the company. Our old accountants did not mention any of these and gave us…
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Help with working out tax
i was unemployed between june 09 and dec 09 so paid no tax, i now have a job with nhs and am on tax code 647L, paid tax since i started, if i have allowance of 6400 should i be paying tax? as i havent reached my allowance yet? simon
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Tax Rebate Help
I wonder if anybody could help. I was working up until 31st October 2009 and was the made redundant. My earnings to that point for the tax year was £17285. I was then on JSA (contributions based) until i signed off and started my new job on 4th January this year. The job centre couldnt pay me any tax rebate as i had not…
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NT Tax Code - Tax Rebate
Hi Am in desperate need of assistance as I am getting no where fast with HMRC! My parents live in Spain and receive an income from Personal Pension in UK. The Pension provider is finally applying a NT tax code so that they get their pension income gross (through double taxation rules). However, no one seems to know where…
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Tax Code
My DH has a small private pension (£1440 per annum) but is also self-employed with an annual income of abour £30K. We have received a notification of his tax code for 2010/11 which has applied all of his personal allowance to this small pension. Prior to this it was all taxed at source by the provider. Am I correct in…
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Huge Council Tax bill
Ok I know I'm going to get shout down here because I am just so clueless! We moved into a brand new house on 19th November, as I understood the council would get in contact with us about tax, they didn't I sent them an email about it and heard notihng back. Just over a week ago I got a letter from VOA (?? I think) to say…
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CGT reporting a loss
Just filling in my SA for 08/09, and I have made a CG of 7000 on one disposal of shares and a capital loss of 5900 on a disposal of another sale of shares. How do I put this on my SA in order to carry forward a loss for use in future years when perhaps I am able to make a profit! Can I carry forward the 5900 or do I only…
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Annual Investment Allowance Query
I understand the basics of this but my specific question is: I have a very small tax bill of less than £1000 total. I have read that if you have less than £1000 of Capital Allowances remaining in your pool you can use them all immediately under the new AIA system. Under the OLD system you could write down anything upto 25%…
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No income earned on property but need to register losses?
I have a property that I let out, however last financial year I had no tenants due to various personal reasons. I did however spend money on the property, replacing the bathroom. Self-assessment online won't let me enter £0 income, however I'd obviously like to register the loss or carry it forward for next year. Does…
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Incorrect Tax Code
History - I had use of a company car up until March 2009. from April 09 i was given a car allowance. However, my company failed to notify the tax office of this and as a result i have been on tax code 141L since April 09 I recently recieved my new tax notification for 10/11 and this is 139L. Again this is showing i have a…
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Account Error on HMRC Website = Now Facing £100 Fine!
account no longer being used thanks to bullying from forum members.
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Being taxed 31% on my £250 bonuses - is this correct?
Hi there, I need a bit of advice. I am 28, Uk citizen, 1 full time job. I earn £25,000 basic and occasionally earn a £250 bonus. I only receive £172 of the £250 after I have been taxed though - this is a 33% tax which seems a bit much baring in mind I only earn £25K. Does anyone know if this is correct? I have asked…
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car millage allowance
Hi guys, I work as a mobile employee and travel to different sites across the north. I use my own car and can be travelling anywhere between 15,000 and 25,000 miles per year. My employer pays me 32p per mile for anything over 30 miles per day. Could anyone help me with how much, if any I could also claim from HMRC and how…
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casual labour?
I have a job that I'm putting down in the 'other income' box on my tax return, that earns under 2k a year, that I've always asumed was "casual labour" - but I don't know now? I actually declared this job on a p90 form a few years ago and they didn't come back to me about it. I don't have payslips/p60s so I can't put this…
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Moving from accountant to DIY
My OH has to complete a tax return (2008/09 all done & paid). Previously an accountant has done it as we had a Ltd company, however, that is now closed and for the tax year 2009/10 his earnings will be solely based on earned income as an employee. Due to this, and the nominal amount he'd owe in relation to the accountant's…
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My Self Employed / Assesment - UTR - Is it confidential?
Hi, this is a bit of an unusual one, I have been offered a contract with a company in Germany, to sell online services, voiceovers, music etc but they say they require my UTR to process sales of any products or services I provide. This is because it is in effect being "sold" in Germany and German tax requires a tax number…
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Experian Shares - UK or Jersey IHT...???
Dear All I recently inherited some Experian plc shares from my late Uncle. The Registrar is Equiniti and based on Jersey (not their UK office in West Sussex). Therefore, they tellm e that I need a Jersey Grant of Probate in order to release the shares. Very inconvienent and more expense, but that's life. My question is…
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Near the 40% tax bracket
I earn 35K plus overtime. .. Could anyone tell me how the overtime would be calculated? I've never done that much overtime so I've never gone into the higher tax bracket, but there may be the chance to do more coming up. Would it be worth my while? Is it 40% only on earnings over a certain amount or on the whole pay?…
