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IHT, transferable allowance and Deed of Variation
Hi, Would be grateful if somebody would confirm that I have understood this right. A husband and wife have separate savings and bank accounts, the house is the only asset in joint name. Option 1 The husband dies with a total estate of £330K with a will leaving everything to his spouse. Inheritance by spouse is exempt from…
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claiming a loss on tax return
Hey guys - i made no money at all in the 09-10 tax yr, no invoices, nothing but had expenses. do i claim these as allowable losses? im a sole trader.
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coding notice and self assessment?
I am filling out my first ever self assessment. I work full time (tax gets done through PAYE) but then I started a very small business in my spare time late 2009 (made a loss during 09/10 tax year) I have happily filled out everything apart from something about the amount of underpaid tax from earlier years included in my…
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Can I get my tax back?
Hi, I'm a little confused.. I started working full-time in November, and have obviously been paying tax. I was wondering if I was entitled to claim it back (and if so, how I would go about doing it), as I have not yet earned the yearly tax free allowance. Any help/guidance would be greatly appreciated, Dan
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Can I offset loss on shares I bought in 2010 but have sold off in 2011?
I bought some shares in a Bank in 2009-2010. They are now currently valued at less than 1/5th of their original value when I purchased them. If I sell them now, can I offset the loss on my tax return for 2009-2010?
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£1500 tax rebate, is this right?!
Hi everyone Sorry if this is in the wrong place. Just over a year ago I registered as self employed with HMRC, I wasn't enjoying my job and looked to do something alongside full time work with a a view to going full time. Anyway, I started to work on this for a few months and spent around £500 on it, but then I was offered…
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HMRC Rocks!
DP filled out his self assessment and submitted it on Tuesday, and pleased to say we had a nice refund! It is now sitting in DP's bank! we cannot believe how quick that came! Can anyone else beat 3 days for their refund!! Kittyx
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Warning to those sending Tax letters to Edinburgh!
Okay,if you are sending letters to Saughton House, Broomhouse Drive, Edinburgh, EH11 3XG then do not use this address. the office has relocated to Glasgow and the tax office have refused to put in a redirection. any mail sent to this address is condemned and returned to sender or Belfast if theres no return address. HMRC…
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Self employment return or partnership return?
Hi, I'll try to be brief: I run a small business with my wife, we are about to submit our 2009 - 2010 tax return via our bookkeeper. We only recently registered as a partnership and dated it with effect from 01/05/2009 (its a long story why, but lets just say its a mix of mis-information and naivety on our part) The…
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council tax discount for students?
Hi, I was reading local newspaper this morning and there is an article about student discount for council tax. My daughter is 6 and she is in year 1 now. Does this mean she will be treated as a student and I can apply for council tax discount? Many Thanks
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Inheritance/cgt
ADVICE NEEDED PLEASE A long married couple have 2 grown up sons and they've made mirror wills leaving everything to the other spouse. The first spouse dies without making any gifts in their lifetime, everything from their estate passed to the surviving spouse with no IT to pay (current threshold £325000) On the death of…
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cannot understand recent tax bill
I have an accountant & he seems to be doing absolutely nothing to help me last year i gave him my accounts & i had to pay £995 tax but this year i gave all my details & havent made a lot more this year so was expecting pretty much the same thing i went in to the office to be hit with a £4,300 bill to pay a further £2,150…
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i take it this is a con
i have had an email today supposidly from the hmrc along with an attachment, telling me i am due a tax refund of £244, i take it this is a con and i should not open the attatchment, the email is not addressed to me personally, it just says dear applicant, how would hmrc know my email address as i have not given it to them,…
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Wifes tax allowance
Probably been asked many times before but here goes. I am retired and in receipt of a Company pension, my wife doesn't work or receive a pension. Is there any way in which I can make use of her tax allowance? We are both below 65.
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Deadline for payment 30th or 31st?
Hi. Hopefully an easy question to answer... When is the actual deadline for paying monies due from self assessment return. All the ads say before the 31st Jan, so this would imply the 30th, or can it be paid on the 31st. Cheers
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Self-Assessment: payment deadline questio
I'll be submitting my online self-assessment shortly but this year I have to pay tax and I've just noticed that the deadline is the same as the self-assess :eek: Does that mean that if I pay by bank transfer tonight, being that it's Friday and 3-5 working days are needed, I will incur a £100 fine? P.S. Up untill last year…
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Self-assessment: Interest from UK Banks etc
I know this might sound silly :o but it's bugging me.... I'm going through my online self-assessment and the box where I have to enter the amount of interest from UK Banks keeps going to zero (0) because the amount it's only 0.76 Do I have to say 'NO' to the question 'Do you receive interest from UK Banks, building…
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i'm confused
Hmmm, I believe but however maybe proven wrong that 2nd hand goods cannot have VAT imposed upon them. Just a niggle really, but my Shimano Navi self destructed in December and was duly sent back to Shimano's registered service centre in Swansea. After a few 'interesting' emails/phone calls between myself and the chaps…
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Hands up all accountants -vent
Are you also having a nervous breakdown today? Worst few days of the year... we have 27 tax returns to do still - ALL FROM PEOPLE WHO ONLY GOT THEIR STUFF TO US THIS WEEK AND SEEM TO THINK THEY SHOULD GO TO THE FRONT OF THE QUEUE! Two sets received today, believe it or not. And they will be p***d off and blame us if they…
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mileage allowance on lease car??
Hi, looked through other threads and unable to see one like mine Im trying to do my SA, i'm a self employed broadband engineer, but work through a company, they lease the van out to me @ £120 p/w. I know i can claim my fuel back that i stuck in the tank almost £3500 pa. But a little birdie told me i can claim mileage…
