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Tax and stamp after becoming exile
İf i ever left the uk permanmently what would be my tax position and old age pension rights--i have property here that i would like to keep and rent out plus i would like to keep contributing in order to keep my state pension-i have paid Nİ for 30 years. i have a pension that i am being paid at the moment which takes care…
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please help with capital allowances
hello,am hoping someone can help. this is my second tax return i am a very small photographic business and am struggling to understand capital allowances. # i know that it is for the larger items such as cameras etc, and i know i can only claim percentage in terms of business use, however i am struggling tyo understand…
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Self Assessment Tax Return
Hi All, I filed my husbands tax return online on the 19th of this month. This is the first time we have used the online method. Can anyone tell me how long it normally takes for them to pay overpaid taxes straight into a bank account when filed in this method rather than the paper method? Kind Regards Marina
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Compensation payment tax question
Hello Can anyone answer this question for me please! If I receive a payment in the form of a cheque from my employer for equal pay compensation owed from the last 6 years and they have stated that they are going to pay the tax and national insurance for the sum provided before i receive the cheque. My question is once I…
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Use previous year's loss if not due to pay tax?
Hello sorry, i know i have been pestering you guys. This is last question before I submit my return. Fengirl yesterday kindly answered my question relating to: if I have a £106 profit for this year but £437 loss for 07/08, how do I work that? She told me that I would have to put only £106 of the loss in for thhis year,…
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Tax Return Query
I'm wondering if someone can help me. I've just finished filing my tax return online but haven't submitted it just yet. I work largely full-time with some self employed work on the side. The vast majority of my tax is paid through my full-time employment. My income from self employment amounts to a tiny, tiny fraction of…
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Lost p45 and Tax rebate question
Hi I was made redundant in May 09. In tax year 09/10 i paid 1 month tax on my salary and tax on enhanced redundancy pay. I have been told i should be entitled to a tax rebate as i haven't worked since and i am not claiming benefit. However, i have been on the inland revenue website and they advise to fill in a P50 and send…
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Tax Return Help - complete novice
My Husband went self employed in Jul 2008, was unemployed but not claiming from March to Jun 08. Up until Apr 05 09 he earnt £14156. I have to complete his self assessment form and I have no idea where to start. I've registered him onlne and have all the login stuff for that. But I just don't understand what figures I need…
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Carry over of car mileage tax allowance?
Help please, Just started a part time job (After many years out of work -so yippee) which involves high mileage but only 25p a mile allowance. I could end up doing around 9000 miles before the end of this tax year but not having worked this tax year I will effectively not be paying tax (I will not earn enough to exceed my…
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P45s sent directly to tax office
I have three P45s for this tax year. I sent them directly to the tax office wih a letter explaining that I wanted them processed directly. Last week they came back with a letter saying, 'thank you for sending them, we are now sending them back'. Does that mean I've done everything I needed to do with them?
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Not feeling the love from HMRC
2 coding notices, same date, 2 different codes :eek: I have 2 jobs, first code 899l :T, second job code D0:( First code includes my expenses, and is correct. 2nd code D0 means 40% on all earnings in 2nd job.By my reckoning only part of my second income should be 40%. Very grateful if anyone can help with these questions? 1…
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maternity allowance and tax return
Hello I received maternity allowance during 08/09. Does this go on tax return? Says taxable benefits but I thought this wasn't taxable. This is the government paid allowance and not employer. Says though to put down if paid by inland revenue. I didn't realise the revenue did pay benefits as mine came through the benefits…
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Company car tax question
I am thinking of getting a company car with a reduction in my salary. I have two jobs, one NHS full time and another part time for a family business. The car would come from my part time job. I spoke to HMRC and they said that getting a car is entirely down to the discretion of the employer so there shouldn't be any…
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Expenses before business officially running?
Hello I know this sounds crazy. I am a registered childminder. I was registered on 10 July 2008 but prior to that I had to pay out for such things as: registration with Care Commission smoke alarms wired into mains liability insurance equipment etc etc I could not operate as a childminder until got my registration…
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Losses brought forward - tax return
Hello there I am wondering if some kind soul can help me. Doing my tax return here and stuck on one point. I had a small business that suffered a £437 loss in 07/08. IN the 08/09 year, i wound it down and only had a £106 taxable profit. However, when trying to offset the £437 loss against the profit, i get told 'The amount…
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own labour costs against capital gains
Last question for now..... Husband did most of the work in getting first property (now let) into fit state to repair, can an allocation be made to offset capital gains for his labour costs? If so is there an amount this should not exceed? Obviously no receipts other than cost of tools etc to do the jobs. Also now that the…
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Property split between husband and wife
For the tax year 2008/2009 the property rental we have is split 50/50 as per Inland Revenue guidelines, however I am on 40% tax code and husband is on 22%. I understand that a declaration can be made where by % split is higher for husband. However last accountant and this accountant did not seem to know much about it! I…
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Car allowance or mileage - rental property
I have a few questions which I have listed separately as they cover different topics. I have been advised that I can either offset mileage costs at 40p per mile against Capital Gains (before property is let) or income tax (once property is let), to and from the property. Or I can offset cost of car, tax, servicing, petrol…
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Mortgage interest payments before property let
I have recently been to see an accountant who advised that the mortgage interest payments could not be offset against rental income until the house had started to be let. In this case 5th July so for period 6th April to 4th July interest payments were not attributed to income tax. I understood this, however he also advised…
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capital gains tax query
i have a flat in the uk which i rent out permanmently but i live abroad, is it the same terms on capital gains as previous advice to those resident in the uk with 2 addresses and if so how do i flip the property to avoid cgt-this is a life time flat which i will keep til death do me part!
