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Tax Advice Perm Job Flex Benefits
Hi MSEs, I need your advice on saving tax. Im in a permanent job earning around 43k. I have been given a choice of flex benefits like - buy extra holidays, Critical Illness cover, Personal Accident cover, Womens Health Screening, Give As you Earn, Child care vouchers, Dental Cover, Travel Insurance & Pension. Based on my…
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Questions about business rate
Questions about business rate 1-if I open a new shop do I will get a free business rate for one year for free because I open I new shop …?? 2- can I get I discount for my business rate price ..?? 3- are there any think to do to stop the business rate like fixing the shop or re-building the shop
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Class 2 National Insurance
Not sure that this is the right place for this... In January 2003, I became self employed and started paying Class 2 contributions. In November 2008 I changed my occupation but remained self employed and continued to pay Class 2. In November 2009, I took on a part time job working 15-20 hours per week. I am still self…
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Tax advice
Hi folks - I intend to get some professional advice about this but first thought I'd pick the brains of a few on here. Basically I work as a local newspaper reporter earning a £19,000 a year salary. From the start of the new football season I'll be covering the local football side and a couple of national papers have been…
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Help with Capital Gains Tax please
Hello 3 years ago I inherited some shares from my mother when she died (which were then transferred into my name) Since then obviously the price has plummeted so I am not planning to sell yet but at some time in the future I will need to sell. The shares will (hopefully) exceed the £ 10,100 threshold for CGT - what I am…
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Query on paying tax - confused!
Hi, Essentially made a loss on my self-employment of £20K Made a profit on property rental income of £20K Do I pay tax on nothing - or on the rental income (after I deduct my personal allowances)? Seems a little unfair that having no money, I am still liable to tax. Or is that the unfair way that life is with regards to…
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Tax claim back
On behalf of a friend - he's a foreign student, does not have a NI no. Did some casual work for got 700+ for 2 weeks. Thats the only work for the year, but his pay was deducted of 50 od quid for NI contributions (0 pounds tax). Can he claim back the NI contributions? I'll be honest, Ive got no clue on this.
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MSE News: Government plans tax simplification
This is the discussion thread for the following MSE News Story: "Chancellor George Osborne today announced plans to simplify Britain's "spaghetti bowl" tax system ..." Read the full story: Government plans tax simplification
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Which process to claim back tax 2009-2010?
Hi all, firstly i apologise if this is in the wrong section but it seemed most relevant section to place this question. Just need pointing in the right direction, every route i try seems to be the incorrect one. MY INFO; I was made redundant May 2009. Since May 2009 and Jul 2010 i have been in full time training privately…
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T&S and tax return
I'm trying to fill in hubbys tax return and I'm getting a little confused. He is employed and works away from home (various locations). He receives Travelling and subsistance payments from his employer at a set rate of £130 a week which is taxed. He has received a P11D from his employer which states they paid him £4839 in…
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Help with Income and Dividend Tax rates
Hi I've never needed to think about tax implications before (nowhere near a higher rate tax payer and employed by a large company so all tax is PAYE), but after a recent promotion I think I'm getting to the point of paying higher rate tax. Also I have for the first time some shares which will (in a couple of years) pay…
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Limited Company - use of a "pool" car
Hi I'm a one man limited company (IT contractor). I do a lot of business milegage and have therefore taken the approach up until now of financing my car privately and claiming mileage at the 40/25p rate. I've just spoken to a colleague though who has been advised by his accountant that, because he is the registered keeper…
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Tax on rental income if property owned by a shell company in tax haven
Simple tax question about the rent on this house talked about in the press. The government are paying 2grand a week to an African family so they can live in this expensive house. The media are trying to track down the owner of thwe house. Whoever the owner is, if the rent goes to the owner who is out of the country, does…
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Isas and tax
Isas and tax 1 What is Isas…?? 2 can the Isas stop the income tax …?? 3 Can I use Isas for one year or two years only..??
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Tax Forms
I have a potential problem I was made redundant just over a year ago (T.Y 2009/2010) and have only one copy of my P45 left (other 2 went to DWP for benefits) - since then DWP cocked up my benefits and I had to reclaim - meaning that HMRC had to send me a P6OU - But they kept the original P60 - I now am required to pay…
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Stopping the income tax
Stopping the income tax My friend started working and he is a single person in uk and he wants to build his new life and his income 40,000 a year and I want to know can he ‘turn off-stop’ income tax if he sale a house or car, or shares, or open his own company
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Totally baffled about a potential tax refund (I'm a student).
Hey guys, really hope someone here can help me out as I'm quite confused. I just looked at my P45 from my previous employer and read something about getting a tax refund, but I'm a bit clueless so would really appreciate the help. The story: I left Uni in Feb 2008 and started full time work at the end of the month. I…
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Mileage Allowance Relief & a Fuel Card
Am I correct? I want to claim Mileage Allowance Relief (MAR) for use of my own vehicle for company use. I get a car allowance which is paid with my normal salary which is taxed at the full rate. I understand when working out MAR this is ignored because taxed is deducted. The company provides me a fuel card, which I pay…
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Help with a couple of questions please
Hi all, Just a couple of questions. 1. If you are self employed and after all deductions etc you are left with lets say 25,000. How do calculate what your "monthly" pay is? If you 25,000 divided by 12 you get 2083 per month, but if you do 25,000 divided by 52 and x 4 you get 1923 - which is actually correct to give an…
