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Are SeaFarers eligible for an R85 tax exemption
Hi Everyone, With my savings accounts and interest I gain from it, I wondered if I can file an R85 form to be tax exempt from these interest payments? My salary is tax free so I wonder if that counts still as my income or not because it is not counted as a salary that I have made while in the UK etc.? I thought that…
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working but not self-employed, and have to pay NI contributions
Hi, I am interested in one thing - i am working as employee, have full-time - 40 hrs contract. after i got NI number, i received a letter from NI contributions, with amount of 31 pound i owe them. there was mentioned something about self-employement, i went to bank, and payed that money, after 3 months i received letter…
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Am I entitled to anything?
Hi all, I read that if you earn less that £5225, then you don't have to pay any tax. Last year I had a job from September-November. I got paid less than £1000 and got taxed around ~£200, each month Someone told me to get my p45 another form, fill it out and send it off. I asked the employer for my p45 she said she would…
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Advice on transfer of house from an estate?
Hello, I'd like to ask for some support and help on handling an issue that arises from the death of my parents and handling the house that they left in their wills. My parents have recently died, approximately a year apart. They were tennants in common, each owning 50% of the house. The house is part of their estates.…
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advice please on CGT and transfer of property
9 years ago my parents transfered their home to my brother and I. The property was worth approx £90,000 at that time. My father passed away shortly after and my mother recently in May 2010. We are now looking to sell the property. It is probably worth around £145,000. My question relates to CGT. I have been told that I can…
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Why do i owe tax???
Hello A few weeks ago i received a letter from the HMRC stating that my tax code had been lowered to 555L from 647L as i owe tax from a previous year for the sum of £260. The letter did not state how i owe this sum or where they have got the amount from. Does anyone have any ideas? I have an ongoing battle with owing…
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My tax code - question
Hello. Got my first payslip today - woop me! anyway I do not earn enough to get taxed and I was expecting an emergency tax code at the top of my payslip however it reads BR Non Cumul. Never had a job before nothing. My question is simply - Is this the emergency tax code and If so what happens? If not, what should one do!?…
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becoming a company/ VAT negatives?
Hi there, Recently taken the plunge and gone full time self employed, my current turnover is far beyond the VAT threshold and im after a little advice please! I currently have a family friend accountant who has mentioned about becoming a PLC/VAT registered etc etc, but havent broached the subject any further. After looking…
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Questions about being self employed & working for an employer at the same time
Hello kind people! I have a few really basic questions about self-employment and the tax and NI, it'd be great if anyone could help. I have scoured the Inland Revenue website, but it's very formal and I've ran out of patience! I'm a part-time employed teaching assistant (3 days a week) and my salary is approximately 10k.…
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Self Employed And Paying Wife For Work
Hi, Just after a bit of advice to see what the best way to go about this. I'm a driving instructor, and while I'm teaching, my wife takes calls, books in lessons and deals with any other enquiries. Last tax year she only earnt £3,000 so I thought I could pay her a small amount for the work she does. Would she need to…
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HMRC Distraint Action & Bailiff Advice
Hi, I wonder is any one can help me, I don't know if I have posted this in correct section of forum but please move if I have. My husband about 5 years ago was made redundent and could not find any job so He started working self employed as a relief chef. We were so broke after him not working for a few months and we were…
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Is an "open space" pitch at an event vat-able?
Our company runs open air events. Our traders at the event buy a site space from us, and then set up a marquee to trade from. Several of them have said recently that we don't have to charge vat on the pitch because all we are doing is providing a space, and not a service. Apparently some events do this, and then only…
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P45 / P60 to taxman
I have been asked to send a P45 and any P60's to the taxman to sort out a tax for year 09/10 However - I only have a single P45 lef (Employee Copy) left - the other two went to DWP at various times in the last few months, (to obtain my correct benefits) and I am obviously reluctant to send my only remaining P45 to them -…
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Time between tax calculation letter and repayment
Hi all, I've recently applied for a tax refund. I have today received a letter from HMRC stating the amount I am due to receive. The guide enclosed in the letter advised that I will receive my repayment 'shortly'. Does anyone know roughly how long I can expect to wait? Understand that the tim it takes to turn these things…
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Correct Tax Code
Hiya, I recently 'retired' from the public sector at aged 50 and am in receipt of a pension as my only source of income. My monthly payment is taxed using a 'month one' tax code and I am unsure if this is correct. I seem to recall that paying tax on a 'month one' basis was more expensive and whilst my tax code is correct I…
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Wrong tax code BR for whole year
HI, On April 20th 2009 i started a new job, my previous employer did not inform HMRC by way of a P45. My new employer issued me with a 'BR' tax code on my payslips, i have been on this code since April 20th 2009. I have written to the tax office and they have informed me i am not entitled to a tax rebate as my personal tax…
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Newly Self Employed - Buying a Van
Basically I started self employment back in April as a plumber working out of my car and its now got to point where I need a van. What I'm asking is what is the most tax efficient way of buying a van these days? I have searched extensively but without much luck as what you can claim back appears to have changed. Say I make…
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Self Assesment Tax Tools/Spreadsheets?
Hi, I was hoping someone might be able to help. At the moment I am working 2 jobs, my 9-5 is like anyone elses and I now have a small business on the side which is registered and fully legit. I have been collecting all invoices and expenses but was hoping that someone might know if there is anything electronic I could use…
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Council Tax and 3 year posting
Hi I can see a lot of posts regarding council tax discounts when serving a 6 month tour, but can't see anything on this, so sorry if it's been posted before. Quick background Partner and I about to buy a house, which I will live in. He is about to get posted to Germany for 3 years. He pays the MOD CILOCT (cash in lieu of…
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Tax confusions for Income Funds
Hi Everyone I am thinking of holding some Income based High Yields Funds in my share account (non ISA). Does anybody know if these are taxed, for example do I declare them to the HMRC, or are they part of CGT, or is income earned from them taken out by the Fund Manager. Thanks
