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Cutting tax

Archives for June 2010

Anybody had tax rebate yet?
Has anybody had their tax rebate back yet for overpaying PAYE ? Not sure what the backlog is at the moment although had response from tax office saying they are dealing with it. Sent letter with P60 on April 28th. Tax office sent P60 back with letter on June 12th saying it was being dealt with. thanks in advance for any…
Another company car tax question!!
I am aware of the tax implications of a company car I am looking to ask my employers to pay me the approximate value of the lease costs (of the company car) to me I appreciate i will pay tax on this value etc my questions are: 1. can I claim from Hmrc a milage allowance for business use? 2. if i can how much can i claim? I…
Bank v Tax Office query
Hello, First post. I currently have an account with a major high street bank which I should be paying tax on but am not. It's only a very small amount but I'd rather deal with it. I have spoken to the bank who insisted I needed to speak to my tax office for the form. I spoke to the tax office who told me to let the bank…
P60 Question
Hi all, Can anyone tell me when i should get my p60 as i have nto yet had one for the last tax year. I started a new job in March so i would have thought my new work would have issued one but they have not sent them out yet. Is there a time limit they have to get these sent out. Also my partner has not had her P60 and she…
Tax Rebate vs Student Loan Deductions
Hi there, Hoping people might be able to provide some advice regarding what I can expect when applying for a tax rebate. I've been with my current employer for over 2 years. I realised last month that I was on an emergency tax code (BR). I also noticed that for the first time this month I was deducted student loan. I…
Are asset sales subject to CGT & Income Tax?
I've tried looking for this answer on the HMRC website and through the forums but can't see an obvious answer... If you sell an asset which is under your annual CGT allowance (eg a share sale) is this classed as part of your annual income - therefore subject to income tax and also taken into account as income in tax credit…
Inheritance Tax old threshold
My mother inherited a dwelling in 1995 . A nominal valuation at the time was £100,000 and this was given for probate. It is believed this was undervalued and could have been valued closer to the iht thrshold at the time of £150,000 The time has come to sell the house so whe is trying to avoid a large capital gains bill. Is…
Should I Pay VAT on kit for a school sports tour
Should I be paying VAT on sports kit that is being used for a school sports tour. I am aware that the company providing the kit requires payment to be with VAT. However if the kit is being provided to the tourists from a fundraising pot that has been paid into a school account is it possible to claim the VAT back so that…
Ppr
Hi all, My husband and I have just purchased a second property to renovate and then either rent or sell on. As such, we are looking at ways of reducing any future tax bill. Having read about PPR Relief, I am still a bit unsure as to the requirements of HMRC, and also how to go about declaring it. We are paying full council…
Agency charging me employer's Nat Ins
Help! I am sure some MSE peeps can help me out here. I have done some work through an agency who have the pay calculated and paid via a payroll company. My first payslip reads: Gross £951 less payroll processing fee £44.18 employers N.I £90.42 £816.40 less income tax £163.20 employees N.I. £77.70 Net pay paid £575.50 I am…
Self employed and also employed
Hi all. My fiancee went self employed last year and declared this to the inland revenue. It's part time cleaning work and we expect she'll make about £3000 a year from it. She recently took a part time job in a shop to make a bit of extra money and she'll make about £4000 a year from this. As she is registered self…
Council Tax/Relationship Break Up
Hello I hope someone can help me here. (If this is the wrong place feel free to move it!) My boyfriend has moved out today, with very little warning. We will be not be getting back together. I've sat down to try and work out my finances for the month as he's left without being up to date with his side of the bills so I'm…
made redundant, selling home and moving into previous home - CGT?!
Hi Please can someone advise me re potential CGT/ other tax issues - I've got myself into a bit of a mess financially since being made redundant last year. I bought my home in 05/06 and continued with the purchase despite the fact that the sale of my previous home fell through. I kept the old house on and agreed a sale at…
Calculating tax on taxable item?
I hope this is the right place for this? DH has just been Tupe'd, very good all round (I think) but Im trying to work out what his take home will be? His package is £33500 pa-but we will be going onto pruhealth, for which we pay the tax. Our monthly premium is £145 a month or £1740pa. It's my understanding that this is…
Council Tax
Hi, I have a property which is currently rented out. My property was empty from 28th Dec 09 til 8th April. Done some work in it. I have req to Council to apply 6 months exemption which they agreed in Feb. I have received another bill dated 18 May stating to pay £247 and they only applied 10% discount. I have emailed them…
Self employed and working from home
Hey, hope people here can help. I'm thinking of setting up a self-employed business which I would run out of my home, and I need a few questions answered. 1) Can I claim part of the costs of running my home as expenses? 2) If so, how much can I claim? I'd assume it's a percentage of the costs, but is it a percentage of the…
VAT Question
I work fulltime and freelance. I would like to reg for VAT for my freelance work. Am I allowed to do this as I am in fact fulltime for another company.
Unique Taxpayers Reference number
How do I obtain a UTR ? I need to register for Self Assessment - I have emailed HMRC at least twice and have been ignored ? I have a NI number - but no UTR Any advice ?
Help with tax and NI
Hello,I was wondering if someone could help with this. I think I am doing it wrong. Single Person 24 years old earning £148.00 per week gross. His only job. How much tax and Ni does he get taken off him and how much is employers contributions? I have tried online tax calculator and it is coming up with £29.00 per week tax…
Hm r&c
As a high rate tax payer, last year - due to redundancy - I expected to be stung by the taxman on additional earnings during the year - Bank interest being one of them - (@ 40% rather than 20% aready removed)) I have tried to inform them of this - by email and letter, but they obviously have other things on their minds /…

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MSE News

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Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
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Cutting tax

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