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40% tax threshold lowered?
Have just seen a news story on yahoo saying that from April the threshold for paying 40% tax is being reduced to £35001. Is this true? It's the first I've heard of it and it seems a bit harsh. My husband currently earns 35.4k so he will be just over the threshold. His monthly tax now is around £450, and I assume he is on…
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The HMRC spoof emails have started already....
TAX RETURN FOR THE YEAR 2010 RECALCULATION OF YOUR TAX REFUND HMRC 2010-2011 LOCAL OFFICE No. 3819 TAX CREDIT OFFICER: Lisa Frank TAX REFUND ID NUMBER: 381716209 REFUND AMOUNT: 244.79 GBP Dear Applicant, The contents of this email and any attachments are confidential and as applicable, copyright in these is reserved to HM…
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Late payment of tax help
Hi, I have submitted my self assesment tax return online however I will not be able to settle the account in full. I will be paying roughly 70% of it today and the balance in about 2-3 weeks time. My question is do I need to contact HMRC as I read on their website that if you are going to settle within 28 days of due date…
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Self Assessment - Please Help :)
Hi all, I need help. My husband and I both did Mystery Shopping last year and also worked for CTS (traffic surveys) and the Local Council (doing the election results) as Independent contractors/vendors but taxes were taken out of our payments so I would like to claim the taxes back if possbile. There is no PAYE number on…
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Late Tax Return?
Hi all, I am in the process of working out my tax return but it looks like I'll have to complete it a bit late. Am I right in saying that, because I made no profit and therefore owe no tax, the fine of £100 will be reduced to nil when I do submit my return? If so, how late is acceptable in this situation? Would next…
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Tax Coding (personal allowence)
Hi, I have lurked in and around these forums for a while but i, as many get that kick needed to ask for help. My father passed away suddenly, (although only 2 weeks ago) it does feel like an eternity. Now what i am about to say may strike people as odd, and as a mark of respect won't divulge too much personal info, but…
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And it goes on
HMRC still haven't got round to replying to my letter querying pension payer not acting on information supplied to them (like say, the correct tax code). However, they have managed to send me another P800, this time covering 3 years. Has anyone else had them now going back to 2007/2008, which I thought they were not going…
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Late tax return - what now?
Hi all, So my tax return will be late. What's the best way to handle this with them? I've heard they can actually be quite reasonable if you keep them informed - any chance they'd waiver the fee?
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IHT planning
Dear all, looking for some help to whether a married couple need to write a Will or not. They are joint owners 50/50, is this the right thing to have? Price of the property is about 500K, is there an IHT applicable ? Do they need a will to transfer the property to the other on first death? They have 3 grown up children,…
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IHT planniong
Dear all, looking for some help to whether a married couple need to write a Will or not. They are joint owners 50/50, is this the right thing to have? Price of the property is about 500K, is there an IHT applicable ? Do they need a will to transfer the property to the other on first death? They have 3 grown up children,…
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Expenses for unpaid work
My wife is an actor, and sometimes takes unpaid work to help her friends with their projects. These are good exposure and help build a portfolio and contacts: these projects can and do lead to paid work, and that is a reason for doing them. She is often out of pocket regarding travel and subsistence etc. Can she claim…
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HMRC self-assessment payments
I submitted mine on Friday afternoon and have a reference number for the payment, but nothing has moved in my bank account as yet. Should I be worried? I understand that these things take time but I do this every year and feel sure that it normally happens instantaneously and I am a bit closer to the deadline than usual…
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Tax Codes and Bonuses
Hi guys I'm trying to get my head round something and I wondered if anyone could help me! I start a new job next month. Factoring in the personal allowance, my annual salary brings me just within the basic rate of 20%. However I will also receive a quarterly bonus; this is performance related so the exact amount isn't…
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amendement to 2007-2008 tax return
Morning, I'm hoping someone can advise me please. My husband and I have recently learned that we can claim capital allowances for a minibus we purchased on 25/04/2007. The cost of the minibus was 12,150 and we took out a personal loan, the final payment will be in May this year. WOO HOO! We have claimed the interest…
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Tax Rebate
Hi could anyone tell me if you automatically get a tax rebate ,I became unemployed in december and wondered if I should apply for one ,the lady in the job centre advised me toapply after 6 weeks ,but I have read on the rebate site that it would be given through the job centre if I was entiteled to one
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Can someone explain to me how to use the 10% wear/tear allowance.
I'm confused by the the 10% wear and tear allowance. I have a buy to let property which is fully furnished and on which I pay all the bills. If something breaks down or is damaged, I pay for it in total and never charge the tenant as I class this as fair wear and tear and not the fault of the tenant. Obviously, I live in a…
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Inheritance
Good morning all, Please could someone help with the following? I have read several similar posts on here (but nothing quite the same) and attempted to trawl google, which has just led to more confusion. My parents (both retired) are about to inherit approximately £25-£35,000 after the sale of my deceased grandmothers…
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reclaiming building society tax
my wife has been paying tax on her building society interest and wishes to reclaim it as she is entitled to. . For various reasons this now stretches back about 6 or 7 years. Is there a time limit for reclaiming.
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Self employment and tax rebate`s ?
Hope someone can shed some light on tax rebate`s for me please.I`m a self employed Bricklayer,only ever worked PAYE in the past so green as grass when it comes to self employment.Got a few questions i hope can be answered... 1.I currently work for a contractor on a site where it`s possible that i might be moved to another…
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SA tax help
Agggggh I am pulling my hair out and wondered if you clever people can help me. I am filling in my husbands SA tax online and am stuck on something. HMRC helpline is only open Monday to Saturday so can't ask them either I am on the section for Losses. Last year was husbands first year and he made a profit of around 7k,…
