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tax on a gift loan
my fil and mil gave us 6k last august to pay of a debt another family memeber left us in, we struggle to pay him back every month, anyways do we have to declare the money he gave us as it went straight on this debt the same day
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VAT help ???
I run a building and joinery business with OH and we have just quoted an extension for a customer. Customer has come back to us and said that another builder has quoted them part of the works at 5% VAT because it is 'conversion work' I have never heard of this before. I know you can use 5% for a number of reasons, but this…
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No longer have company car so why do we keep getting wrong tax code?
To cut a long story short DH's company restructured and DH was basically demoted, in the process losing his company car. This was 3 years ago now and every year he keeps getting the a tax code that takes into account him having a company car (which he no longer does). Every year we talk to him payroll dept who say they…
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647L and tax
Hi, financial year just began, my tax code is 647L, my gross pay up to date is only £391.50, my employer deducts tax from my pay. is it right? Do I have to pay any tax under this code?
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do I have to pay tax
Hi, financial year just began, my tax code is £647L, my employer tax me. Is it correct? Do I have to pay any tax under this tax code if my gross pay up to date is only £391.50?
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Self assesment - can I claim rail travel as expenses?
Hi - I keep getting conflicting information on this subject and would be really grateful for some help. My husband is currently working as a labourer through an agency, and although he has tax deducted he has to complete a tax return as he is classed as self-employed. Can he claim back his rail travel to and from work?…
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Council Tax summons HELP
Some advice please... Ive been paying council tax via direct debit for 3+ years now no problems. All of a sudden i got a letter saying im in arreas £11 and i have to pay it within 14 days or face court proceedings. I called the council to ask what this is about on a thursday, they said sorry our computers are down call…
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Tax on Investments Help Please
I have a question that I hope that some of you would be able to answer quickly... I invested £7000 about about a year ago with a company abroad and they converted this and traded it in US Dollars. Now my account is holding the equivalent of about £10000 ($15000) :D . What I want to do now is take back out my initial…
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How/when do i pay my NI?
Hi, My partner has a LTD company that he is the director of. He contracts so his company gets paid and then I pay him a monthly wage from this. I pay the tax each month and complete the tax return at the end of the year which is fine. I am just completing his company annual return as a director. I think i understand most…
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Joint Mortgage Benefit in Kind
Apologies if any of these questions have been posted before, but I've done a search and couldn't find anything. I work for a certain high street bank who gave me an employee mortgage for my house, this is split into 2 parts: 1. 135k at 5.19% (it was a good deal at the time) 2. 30k at 3.17% I recieved a letter from HMRC…
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Tax Refund
Okay, I know you are probably all sick of people asking about their tax refunds, but couldn't find another thread which quite fitted my situation. I was dismissed from a job on 1st April 2009, I was then on JSA until 20th July 2009. I worked in this job (temp job) until August 5th, 2009. I started permanent employment on…
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Underpaid tax - worried
Got home tonight from work to find OH's first pension slip of the new tax year had arrived. The net after tax is lower (reduced from 803 to 720 every 4 weeks). Having looked more closely the tax code has been changed from 647L to 116T. OH gets contributions based incapacity benefit and has done since he was signed off sick…
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Self assesment
Hi,i wonder if anyone can help me. I am trying to file my tax return and wondered if anyone can tell me if,when i am filling in the section about my business's "turnover",does this mean the amount i earnt before tax or after my tax has been deducted. Sorry if it seems like a silly question but i need to get it right.…
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Fundraising and tax
Well, it's finally happened. The Big School Exchange Trip. My question is, if, say, DS were to raise money for it by say...selling plants at a car boot, or crafts on ebay (realistically, these would be gifted to him by me), would I be liable to tax on the money raised? Presumably there's no tax due on money the kids raise…
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CGT on rental property now we're co-habitating!
Currently my partner owns her own house (with mortgage) which has circa 100k equity. We are living in my house currently but are about to buy a property together. Does anybody have any advice re: her own house and Capital Gains Tax. It's had rental tenants in it for the past 2 years and her name is on the deeds & mortgage…
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Self Employed Loop Hole
A friend of mine works on a contractor basis for a large multi-national company in the UK. She has recently registered herself as a ltd company. This means that she no longer has to pay income tax as she is the managing director of her own company. She gets £10,000 allowance on which she has to pay no tax at all and pays I…
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Anyone manning the phones at HMRC today !
I have phoned several times today for vat advice and been cut off! If they tell me one more time about how VAT returns are going online I will have to fire bomb the place ! Then its we're so busy phone back etc etc 'goodbye' and I'm cut off. Currently trying option 5 'all other ' option and I've been on hold for 10 minutes…
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Payroll Error
Hi, A question. I started my new job on the 1st March. We get paid on the 15th of the month, for the whole month. As i wasn't set up in time, i've had to wait till today (15/04) to get paid. I've now been paid two months salary in one lump sum. My previous salary was 26775, and i received around 1640 per month, i'm now on…
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Court Wins
Do court wins get taxed? i.e. do I have to declare? The sum is between 5k-10k.
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Tax Rebate newbie
Hi guys, a bit of help needed sorting out tax rebate stuff.. just tried calling HMRC, way too busy so i thought i'd get a quick bit of advice here. I graduated in July, claimed JSA up until August, then from September to Dec, had a few weeks work, then Jan-Feb. Then started my current job, I received my P60 this year. It…
