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Capital gains and inheritance of a property
If my father passes a property to me through a deed of variation on his mother's will, should he incur CGT??? The inheritance is exempt from IHT because it is a farmhouse. Regards AC
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Capital gains and inheritance of a property
If my father passes a property to me through a deed of variation on his mother's will, should he incur CGT??? The inheritance is exempt from IHT because it is a farmhouse. Regards AC
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Tax refund question
Hi, I was working at start of tax year for about 3 months and earnt £3778.12 gross and paid £506.40 tax then i was unemployed and on benefits for a while and earnt £735.15 on job seekers, and now ive started a new job and have been paid £2454.16 gross and paid £274.60 tax. So my calculations are; £6967.43 total pay - £6475…
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Refund - How long to process?
My accountant worked out im due a refund, and as far as i can tell submitted the return at the end of march. In general, how long does it take for HMRC to refund the money by post? Last year it took four months! but im not sure if thats cause my accountant is slow, or thats just how long it takes?
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claim tax back
hello, during tax year 09- 2010 I was on maternity leave,then left a job (was sent p45),and a month ago returned to work - same company. Am I entitled to any tax back? Which form do I need to fill in? Can I find it on HMRC website? I used to go to local tax office to pick up the form,but now I don't have time for that :(…
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Mileage Tax Relief Question on Personally owned car
Hi Everyone, I have been looking through the internet/forum for some time now trying to make sense of my mileage tax relief. My car is owned by myself and I get from my company 20p per mile. I recently put in a claim for 19,706 miles. I calculated to get back a total of £2485.30 I worked this out by the amount I could…
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Donating my paid money to charity
Hi I have found out that you can donate little paid money say £20 to £50 to any registered charity in order to save money. Is it true? I am currently earning £27k and I am paying mortgage and renting because I have to work away from home. How much would I save money if I pay paid money to charity? FT
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eh? wat this all about?
You have A new message from HM Revenue & Customs From: <img id="P___305328541" webimdisplaystyle="inline" style="display: none;"> HM Revenue & Customs (securemail@hmrc.gov.uk) You may not know this sender.[URL="javascript:;"]Mark as safe[/URL]|[URL="javascript:;"]Mark as junk[/URL] Sent: 10 April 2010 05:34:01 To:…
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Am I entitled to Tax rebate?
Hi can anyone help me please? I worked for about 6 months last year then I was made redundant. I recieved JSA for 6 months which has stopped now as it was contribution based? I don't seem to be entitled to any benefits as my husband earns over £16,000pa? We got married in September (I notified Inland Revenue etc of change…
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Unpaid tax on letting
No excuses I know but would like some advice before I phone the HMRC anonymous advice line. Me and my partner have around £4500 each of undeclared rental income spread over 7 years, so I reckon we owe around £1000 each in tax plus interest and fines. This is a quick calculation from my statements taking rent from mortgage…
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Tax on money gifts?
My father-in-law is selling his house and wants to give us 50,000 from the sale. We don't own a house and would use it as part of deposit to buy a house of our own. Do we need to declare this and are we or is he liable to pay tax (capital gains tax?) on this?
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Capital Gains Tax for Armed Forces
Hi, I am about to sell a property I have owned for 20 yrs. I have lived in it for 8yrs and let it for 12yrs. This is my only property and have let it due to being in the Armed Forces and being on the move all over the country. Can anyone help with the rules on Capital Gains Tax. Would I have to pay this tax if I sold the…
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How do they work this out!
Hi I wonder if anyone can help me work out what the tax office are up to... I recently received an explanation why theyve charge £370 on an additional £570 declared on rental income as a second income source, but I'm not sure how they worked it out (main salary charged PAYE)... total PAYE income 42876 for tax year 08/09…
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Which is the order of precedence for different sources of income?
There are many sources of income including: Pension Employment Savings Dividends Property Chargable gains from a life policy Overseas What is the order of precedence? Is there a link on HMRC site or otherwise? This matters as say, for example, some one is £1k below the higher rate threshold from employed income and has…
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2 jobs (secondment) -??
Hi I am currently working for the nhs and i am thinking of applying for a job that is part time on secondment. I am currently full time and my annual income is 26879. The new post is 2.5 days and is 30150 pa. If i was to reduce my current role to 2.5days and work the other 2.5days in the other role would i be penalised on…
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Council tax overpayments due to end of tenancy
Hi all, My tenancy agreement ends in August, but my Council Tax bill is for the whole financial year made in 10 monthly payments. My problem is this: if I pay according to these instalments then by the end of my tenancy agreement I will have paid significantly more than my fair share for that period. What can I do? I know…
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Tax Coding Notice?
I've not had one for this year and with all the problems with the computer system and crazy tax codes I'm slightly worried. I only got last years because I had a mail redirect set up at my old address - you would think the tax man knows where you live from your employer? NI and all that? Do you get a coding notice each…
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Proof of income
Not really sure if this is the right forum but it's a tax related issue. My wife and I have applied for a mortgage and it has been approved. we need to send proof of income, easy for me as I am PAYE, however she's self-employed. We included this years earnings (i.e. upto April 5 2010) on our application but as she does her…
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Self employed travel expenses
Hello first time posting I am a locum pharmacist in the UK and have been self employed since august 2010. I was wondering is it possible to claim travel expenses when commuting from work to the pharmacy I happen to be working on in that particular day. I do not have a permanent work address. I have been keeping all my…
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Business mileage tax rebate question
Bit of a confusing one here. My mother works as a residential care worker and drives to elderly peoples homes in her own car. She will normally drive about 60-70 miles per day. Her employer has an odd system whereby they pay her 15p per mile for the mileage between postcodes and NOT the actual mileage. So although she may…
