-
a couple of tax questions about my current situation
Hi all! I've posted on here once before quite a while ago, I got some good advice and am luckily in a better situation that I was. Slowly but surely in the right direction :) I have two tax related questions 1. I am currently employed full time but am beginning to take on some extra work out of hours to get rid of my last…
-
Gift Aid - SA help - which donations are eligible ?
Hi all, completing my self assessment. Please can someone advise me which donations are eligible as I know some are excluded and I cant find them on hmrc website. These are costs that have been gift aided Egs - National Trust visit to property National Trust joint membership, paid for by me Charity gifts ie goat for…
-
My residential address is my office. Can I offset expense of living there against tax
As I work from my residential address which is effectively an office, can I offset my living expenses such as mortgage payments and bills against my tax payments?
-
Do I Need To Pay Capital Gains Tax?
I am in the Royal Navy and bought a property many years ago that we have lived in on and off due to me being drafted to different locations. Because I am away alot I rent it out. About 4 years ago I remortgaged it to buy another property that I lived in with my family until last year when I moved to live abroad with my job…
-
How do I calculate my wage if I'm self employed?
I'm interested in becoming self-employed. But I'm not sure how to determine the level of money I pay myself? Is my wage the entire profit I make once all my costs and allowances have been taken off or is my wage a determined portion of my profits? Another relevant question is which bit of my profit am I taxed on - all of…
-
Paying my first employee £5k a year. Do I register?
I am a sole trader and will be putting my first employee on the books. They will be earning a part time wage of £5k. Just hoping to put it down as a business expense and pay them direct, they have no other income so hopefully neither of us will need to pay any NI contributions or them tax on this. As it is below both the…
-
Can I offset profit from 2009 to 2010?
I made a small profit in 2009 on my rental income. To minimise my tax payments, can I offset this profit on an anticipated loss for the following tax year?
-
CGT on Investment Bond
In 2002 I took out a "unitised investment plan" through Pearl which allows for whole or partial encashment at any time. The terms say that this may result in a chargeable gain. Am I right in thinking this is CGT and not income tax? I wouldn't be liable for CGT as its within the annual allowance, but don't know if the gain…
-
I need help finding tax return form for 2009 to 2010
I need to fill out my tax return form for 2009 to 2010. I'm on the hmrc website but I can't find a link to their pdf forms. Can anyone help?
-
p87 question - how do I get the tax relief?
In what form can I expect to get a tax relief for the mileage expenses when I claim them with form p87? My situation is as follows: I am EU citizen, arrived in UK January 2010, started working a week after that. I am working as a pizza delivery driver and using my own car. This is my only job. I am on minimal hourly rate…
-
motorcycle
with the new rules regarding motorcycles being eligible for plant and machinary and 100percent fya can i claim 100 percent of cost against my tax and can i still claim 24p per mile or not is it one or the other i do not understand tax very well im maybe going to become a delivery driver how wud i be best doing it
-
Hous share and council summons
This is very complicated. Bought a house a year ago. I own 20 percent brother ownes 20 percent Super rich niece ownes the rest They lent us the money so we could buy a house and not be homeless. Brother worked abroad till November when he was unfairly sacked in which I was claiming single occupant of which I was. I have…
-
Tax Code and pension relief
I've just received a new PAYE coding notice lowering my tax code, and notifying me I will probably need to pay an additional sum at the end of the year. I understand the reason and was half expecting it - I've added the family to my private medical cover, which has increased the taxable benefit, and they've just taken 9…
-
to VAT register or not?
hi guys i wonder if someone could tell me something(that maybe i should of enquired about before now) i have been self employed for the last 16 years and earn approx £35,000pa.i travel to various places around the country doing a specific skilled job(im not selling goods or anything like that)i work for what you could call…
-
tax advice please
to help a family member out of a problematic neighbour situation we bought their house from them as a buy to let, lease going well has been rented out since 14/6/10. house £65000 with 25% deposit. rent £475 a month leaving £405 after agents fees and vat. interest only mortgage £212 per month husband a higher tax, I am on…
-
business miles tax query - HMRC double counting?
Hi, sorry for yet another business miles thread, but I haven't found an answer to my query on any others. So, I have a car allowance and work, and use my private car for buiness use. My employer provides me with a fuel card which covers all personal and business miles. Last year my fuel card balance on the P11D was £3616,…
-
Self Employed, sold personal car, question?
Hi, I am self employed, I run a van for work so put 100% of the running costs of this against my tax return. I also have a personal car, all the costs of running this I put as 'personal, disalowable' (ie, part of my wages) on the tax return. In Dec 2008 I took out a loan and bought a new 'personal' car. I have been putting…
-
Where to put Tax payments in S/A return??
Hi all, I am self-employed, A couple of years ago I got a 'investigation' by the inland revenue, most things were ok/sorted out but I got told at the time I was claiming di-alowable expenses on my tax re-payments. I had been putting the amounts of tax I paid into the 'Employee Costs' box on my s/a tax return. At the time,…
-
Tax allowance for company car
hi, thanks for all the advice in my thread: "using my own car for business purposes". I am thinking ahead here, but there should be the chance of a company car in the future. I've had a nose around the hmrc website and it doesnt look as straight forward as using your own car and claiming the difference (in payment from…
-
Odd Jobs and Tax
Hi All, From time to time I may get asked to do odd jobs by people e.g. mowing a lawn or taking rubbish to a skip. I may get £10 to £15 for my time, where do I stand in relation to paying tax? I have a regular full time job and as I said the above odd jobs are infrequent. Thanks in advance.
