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How to work out CG on a converted house
Hi, My parents purchased a small property approx 20 years ago. At the time, my dad was a self employed painter/dec/builder & converted the property into 2 flats which were rented out. Up to 8 years ago, my dad had an accountant, but, since retiring, I've done their tax returns. Both mum & dad have one as they each receive…
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Tax Overpaid according to online screen
I'm confused. Last weekend I submitted my father's tax return online. It said at the end that the amount due was £613.55 so we paid immediately with his debit card. It only gave us the one amount this year - usually gives multiple amounts to pay at different times. Today I have logged in to the Self Assement site to check…
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paying tax on a rented parking spot
Due to this site i have found a person to rent my parking spot for 2 pounds a working day-so about 42 pounds per month on a rolling basis. i am a normal tax payer and have no wish to attract a self assessment form. İt is being done through park at my house :com so it is tax visable and the renter works for local governemnt…
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Tax questions
Hi, Just two three little tax form questions - can anyone help please? Thanks 1. On the form it says "Have you made any income tax losses in the year 2008 to 2009" Is "income tax losses" the same as net losses on your business? Not sure if I should answer yes or no. 2. The Date my books are accounts are made up to is 31…
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SA100 Self assessment form question.........
Hi Guys, about to file online but cannot see where to enter on the 'virtual' form my two 'payments on account' I have made Last Jan and July. Thanks in advance. Bodger
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Tax When Overseas
Hi everyone, As you can see I'm a newborn in the forums, so appreciate any kind of response. I believe the current tax policy for being overseas and working for a UK based company is that you have to be out of the country for a total of 181 days a year to qualify for not having to pay tax? Before leaving for my overseas…
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Valuation Tribunal (to follow)
Hi all, a while back I started THIS thread and received some very good advice... thanks! Now that I have received the decision from my Valuation office I am seriously contemplating an appeal. To better understand the decision made by the listings officer I have just called him and he was helpful although was not prepared…
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Tax Losses - confused
Hi, Can anyone help please? I'm confused by the losses section of the tax form. I am self-employed. My net business loss for tax purposes is £1000 (2008 to 2009 tax year) The Total loss to carry forward after all other set-offs - including unused losses brought forward is £221 (This was on the last 2007 to 2008 tax return)…
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Inheritance given early by parent will I have to pay tax?
Hello, My father gave me my inheritance early, so I could use it as a deposit on a house, he has told me he did not have enough money at the time to be over the IHT level & still is not over now.He is now worrying that I might have to pay tax if he dies, we did ask the solicitor at the time that did the house conveyance, &…
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VAT on commercial vehicles
I am not VAT-registered and wish to sell a commercial vehicle, an L200. The van guide values it at say £5000 ex VAT. Hence am I right in thinking if I'm selling it privately then I advertise it for £5000. (If I were VAT registered I would sell for £5000 and add the VAT) Is that right?
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Tax on private and state pensions
sorry, duplicate post
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IHT / facing bankruptcy?
I wonder if anybody can help with this please. A young lady in our office is being faced with an awful situation due to IHT. Her father sadly passed away recently, he left her a house worth approximately £800,000 & £82,000 in cash. The father had a girlfriend who loved his house & a 10 year rent free lease was granted to…
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Emergency Tax?
Hey everyone, Even though i'm a regular i'm not sure if this is the right place! Anyway, my oh paid emergency tax for six months and has told me we can reclaim this, but we don't know how? I've been googling but I think you guys are the best bet!! Many thanks.
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POLL: How long does it take to get a repayment from the HMRC?
I am lucky to have been awarded a repayment from the tax office for the first time in my life. Weyhey! Except it doesn't look like they are very keen to pay up. I am aware that even if their web site says the payment has been "sent to you" that means that it hasn't and they're doing security checks. So, how many…
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My tax calculation said student loan contribution owed
I've done my tax self-assessment, and my calculation says I owe a student loan contribution (due to some self-employed work). However, I have paid an additional (voluntary) contribution into my student loan since doing the work - which is more than the contribution I'm now being asked for. Because of this contribution,…
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Arrgghhh capital allowances??!!??
sorry - another question - thought i had my head around this one but just need to clarify! ok started as s/e in april 08 so this is my 1st tax return before i became s/e i was doing the same job but as an employee so had already acrued a load of eqipment that i use for work. I also started using my car for business and our…
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What are my expenses
I'm just working out my (self employment) expenses, and I started to look at stuff like electricity, broadband and the PC .... but, I don't own or pay for any of this in our house, a relative does. So, I don't think I can claim any percentage of this for expenses? We're thinking of changing broadband providers soon, would…
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Self assessment allowances
Hi all, Just after a bit of advice for when i do my self assessment in april. Last march i started working for myself but found i tough finding enough work to pay the bills so decided to pay to go on a 6 week training course to learn some new skills to help me find more work. It cost me £2500 plus i bought a van for the…
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claiming for household bills - please help
hi, justtrying to complete my tax return and have been unable to get through to a technical adviser at HMRC to answer some simple questions. just wondering if anyone can help?? I use 1 room in my house for business - how do I work out what percentage of household bills I can claim for?? There are 7 rooms in total in my…
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Fuel Card and business mileage
I have read many posts on here around this subject, but am still confused about my personal situation on it. Last tax year 08/09 I had a Company Provided Fuel Card and Car Allowance. I did 1500 business miles which I believe have been taxed at 40% I have since ditched the card and returned to the cash alternative, but can…
