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Month 1 Tax Code Have I paid Too Much?
Im an agency worker and they told me today they lost the P45 I gave them in May of last year and I have been on a Month 1 647L code ever since, have I paid too much or too little tax?...will I get a refund or bill with my P60 in May?
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Funding Inheritance Tax
My friend's mother's estate will consist mainly of equity, plus a small house and some cash. The estimated tax bill when she dies is considerable, much more than the value of the house. My friend is not sure how much cash is held, either. She heard something on the radio awhile back about people having difficulty funding…
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Inheritance Tax question
MIL and FIL made mirror wills, with the first £325,000 being left to DH and the balance to the remaining spouse. The property was held in Joint Tenancy. MIL sadly passed away in November. MIL did not have sufficient assets in her own name to comply with the terms of her will. There is a shortfall of, say £75,000. Now, I…
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Supposed £7,300 paye underpayment 08/09 and 09/10
Hi Everyone, I rang HMRC yesterday to sort oun an error on my tax code for 2011/12 and was informed i had a letter on its way out informing me of an £7,300 tax underpayment, £6,500 was for 08/09 and £800 from 09/10. To say i feel physically sick is an understatement. This has arisen due to having a company car up to…
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Corporation Tax and Milage
Hello, Need a bit of help to get my head around a couple of concepts. Firstly, I have a small ltd company with three directors (myself included). Turnover is around £5k. We are therefore not VAT registered. We do incur business mileage. Mr O announced yesterday that Corporation Tax was coming down by not 1% as originally…
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tax code for pensions
I got my tax code yesterday for 2011/2012 it had on it predicted under payment £3450 for year 2010/2011 and because of this would not give any allowance for my private pension of £150 a month so i will pay tax on my private pension. I phone the tax office and they said as I got my pension in January 24th they cant put part…
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Company car for emergancy service use
Dear all, I’m in the Fire service and due to promotion no longer sit on fire engines but attend incidents in a company car, which has two tones, blue grill lights etc. I am allowed to use the car for private use and as a company car/perk I am taxed on my private mileage (and I have to pay an amount per mile plus vat and…
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Tax on wages question
Hi, I've just started a new job. It was too late to put me through payroll this month so I've been given an estimated pay by cheque for this month. My employer said if it ends up that she has estimated too high then it'll be deducted from next month. Fine... BUT This is the last month of the tax year, and I have not earned…
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Mother in laws (age 64) sudden 4k tax bill !
Hi my mother in law has just had an out the blue £4000 unpaid tax bill going back to 2006! like the ones the press and martin went on TV about last year. She earns 17k before tax at the moment but does alot of overtime.She had a part time job four years ago in a school,maybe they think its still on going? Is the A19…
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change of tax code
hiya just wondered if anyone could clear somthing up for me im cabin crew & have been on the common tax code 647l or whatever it is & have just received a letter saying i shall now be on tax code BR & will be paying 20% is that a good thing or a bad thing ?
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Mileage claims (private car)
hello Rather than scour the website of hmrc et al, I thought i'd ask here I've done about 1200 miles for work which i have claimed 35p a mile from work. I was reading this morning the taxable amount claimable is upto 40 pence per mile (soon to be 45 pence) Therefore can i reclaim the 40-35p = 5p x 1200 miles aprox = £60,…
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Budget: Over 65 personal allowance
The personal allowance for under 65's is to increase to £8,105 in 2012-13. Does anyone know the rate for over 65's in 2012-13?
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Personal Tax Allowances for 2011-2012
Can anyone help me work out how much tax I will have to pay for the above years. I am 64 yrs old, still working and have frozen my state pension. My income: Widows pension £35.00 per month (I am not taxed on this income) My salary £800.00 per month (I am taxed on this income) I am not sure what my code is! Widows pension…
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Real value of IHT nil rate band to fall
3.13 Inheritance tax allowance — The inheritance tax nil rate band is frozen until April 2015. The Government has announced that from 2015-16 the consumer prices index will be used as the default indexation assumption. http://cdn.hm-treasury.gov.uk/2011bu...n_overview.pdf Ah is this the somewhat complicated calculation…
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QTD - RIP (bye bye Qualifying Time Deposit)
From 6 April 2012 tax will be deducted at source from taxable interest paid on new QTD accounts. This will be achieved by including newly opened QTDs within the tax deduction scheme for interest operated by banks, building societies and other deposit takers. The Government will informally consult stakeholders on the…
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MSE News: The Budget 2011: What the massive tax shake up means for you
This is the discussion thread for the following MSE News Story: Read the full story: Budget 2011: What the massive tax shake-up means
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Council Tax
hi, firstly apologies if this is in the wrong place. I just wanted some advice before I approach the council as LL is well known there. My query is : Do you pay council tax based on the whole property (ie including land) or just the house. In January this year our LL took back just over half our grazing land and yet we…
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P800 to old address?
My husband received a cheque from HMRC with a tax refund just over a month ago, followed a few days later by the relevant P800s. This prompted me to thinking about my own tax and that I've not heard anything from HMRC for the past 5 years (at least!). I'd not updated my personal details with them at all: I thought that it…
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Fuel tax relief p87
Hello, I'm a carer. I go into people's homes. My employer does not give money for fuel, only wear and tear. I have done 2,724 miles. Does this mean I will receive £1089,60? I have received 190 for wear and tear. It seems to good to be true, and I don't want to fill the form in wrong. p.s I have mileage records Thanks
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Simple way to work out Council Tax?
Is there a simple calculator online that will let me work out if the household is paying the correct amount of council tax? We might well be on the correct rate already, but I want to make sure. My parents own the house outright (mortgage is paid off), and my sister and I live with them. My dad is on the government…
