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Tax Problem
Hi there, first time poster. I've got a few issues and can't get any straight answers or advice. I earn 12,500 before tax I receive £70 per month, before tax, for monthly car allowance i receive 37p per mile. Question 1) my tax code last year was 647L, this year is 657L. I understand, that i have had the amount deducted…
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claiming tax back worry
hi, since august last year i've been on the BR tax code. i took my p60 into the inland revenue office in leeds at the end of may. lady there said i will get a cheque in august. (rebate as i should have been on 647L code). my worry is, could this take far longer as i've been hearing horror stories on bbc1 watchdog
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Tax on company shares after redundancy
Hi I was made redundant March 08 and was a member of the 'Employee Share purchase program' (ESPP), being able to buy shares in the Canadian parent company I worked for in CDN$. I bought shares out of my post tax income (so not tax and NI free) and the company matched half up to a limit. (All) My shares 'vested' upon…
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Tax codes
how do you read a P60 to decide if you are due a rebate because for example if the code is 647L and you earn £9000 for the year does that mean your not due a rebate, or are you due a small amount back...in laymens terms how easy is it to work out
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Paying VAT in Guernsey
Im thinking about buying a PC online but im not sure if I'm ment to be paying VAT or not since i live in Guernsey. If im not do I have to speak to them about it or do i pay the tax and get a refund through someone else? If so how do i get the refund? Thanks
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Tax and the Middle East
Forgive me if this is posted in wrong section. Ok, hubby is considering a job offer in the middle east which naturally is tax free. As I understand as long as he is gone for atleast a full tax year and some other conditions which he will meet there will be no tax to pay in the UK, now what we are unsure of is if say he/we…
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Second Income + Tax
Hi, I was wondering if anyone could help me or point me in the direct of a calculator which would work this out. I need an extra £300 a month to pay my mortgage off early. I currently work a full-time job and get paid: £1757.36 per month after tax. The job I have found pays £6.07 an hour for 12 hours so: £315.64 a month…
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Reclaim tax overpaid on savings
Hi, I am a non taxpayer. I have reclaimed tax for 2009-10 in NSI savings. I have just got certificate from Scottish Widows stating they have taxed me on interest for 2009-2010 when this should not have been done.I had registered as non tax payer. Can I now reclaim this tax from HMRC or is only one claim per year allowed ?…
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P60's
Evening All, I knew i had a question to ask on here about a month back but had totally forgotten about it :o My son works for the bbc and was paid through an umbrella company (as their employee) the umbrella company proved to be a right pain in the butt, late payments, argument over expenses, and retainment of holiday etc…
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P11D - Personal Contributions
Hi I have company car for which i pay a monthly payment to my employers approved supplier. I receive the usual £0.11 a mile for business use. My employer allows my wife and I to use the vehicle for personal use for which they pay an insurance premium which i then pay monthly. This premium is included within the monthly…
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CGT on second property
Hi Hope someone can help me out with a question I have. I bought a property in January 2006. I have moved in with a partner back in September of 2009 (and rented my house out to tenants to cover mortgage) We are now planning to marry in June 2011. We had planned to sell the property after the wedding - but I am now worried…
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Am I liable for council tax from before my building was registered
Hello, I moved into my current flat in January 2009. It is an entirely new building and was not completed when we moved in. I am a private tenant on a short term (12 months followed by 8 months agreements). My current tenancy agreement runs from Jan 2010 until Aug 2010 when I will move away. I contacted the council to…
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daughter graduated and got her first job
My daughter has graduated and will be starting her new job soon, whilst she was a student she had the odd job during holiday weeks and didnt have to pay income tax would she start paying tax straight away when she starts her new job are would she be able to earn her personal allowance first. Thankyou
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Paying tax to CHARITY instead of the GOVT
I am about to file my tax return and I was wondering if the amount I owe in taxes can be paid to charity instead of the British government? If you ask why? because I believe it's better to give the money to charities than to the government that would use this money to bail-out banks. Is this possible to do so in the UK? Or…
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Tax Code advice
Hi....eventualy got 1st cheque after retirement..!! It seems to be exactly as expected...Tax code is "647L M1"..what is the significance of this, if any? PS this site has guided me through paying mortgage off / retirement etc. in the last 3 yrs...many thanks for all the help!!! ta ian
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Payments on account
My accountant has just told me my tax bill for next Jan, and i that i will have to pay half of the next years tax too, (and the other half in July) based on Januarys payment. I am a single mum (2 kids), and will live in poverty for 2011 if this is the case. Is there any way to avoid this??
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income tax property
hello, I am converting my house into two flats. I live in it, its my primary sole residence. I am planning to sell one flat to clear my mortgage and live in the other flat mortgage free. I will gain on the sale of the flat but it just pays off my mortgage loan. Sopmeone says it'll be subject to income tax, is this true? he…
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Self employed & Tax breaks for childcare
My wife is self-empoyed and we have a two year old who goes to nursery two days a week. I get Busy Bee childcare vouchers which mean I can take out £246 a month from my salary for childcare before tax - saving me about £100 a month. My wife works self-employed, when I made enquiries with BusyBee they said that only PAYE…
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Offset PT self-employed loss against FT job income tax?
I'm considering setting up my own business to work at part-time in conjunction with my full-time 'proper' job. I'm currently paying the basic level of income tax and don't expect that to change with any earnings from my new venture - not immediately anyway. With the initial start-up costs and a potentially slow start to…
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Preparing to move abroad
Hello, I hope this is in a suitable place! Soon I shall leave the UK to teach English. I have kept my options open 'til now, but I think I will go either to an EU country or Japan. I'm trying to do as much as I can before committing to a specific location so I have no dates or pay details as yet. I know I must tell my tax…
