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Will My Promotion Make Me Financially Worse Off?
Hi All I hope someone would kindly help? I was earning £26,000PA and have recently been promoted, with a new income of £35,000PA and an addition of a Company Car, which I have never had one before and is valued at £18-20,000 I am concerned that there is a possibility my tax could double, and also the tax on the car is…
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tax on accomadation
Hope some one can sort this out I live in manchester but work in lincoln, my employer pays me 30p/mile travelling exp, which i am taxed on as part of my wages, can I claim any rebate on this plus they have always paid for my accomadation £30 per night(3 nights) direct to the hotel, but now I have received a tax bill for…
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40p per mile
Hi All, As you know petrol prices are increase rapidly as is the cost of servicing and maintaining a car. I use my personal car to drive to location for my employer and claim 40p. Can i request to recieve more than this and be taxed? An alternitive would be to request they provide me with a car for driving to the locations…
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P800 is there any point in using a ESC A19 claim?
Overthe week end I received a letter from the HMRC informing me I had underpaid £1372 pounds in tax for the period 2007-2009. The A19 concession relates to "timely use of information". When I spoke to an operative I was told this concession only applies if I had contacted the revenue at the time. (when I had no reason to…
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Liable to CGT
I am currently living in a property which is mortgaged and owned by my father, it is not his primary residence however. I am in the process of buying a property of my own as a FTB and the house I'm living in (owned by my dad) is being used as a deposit (77K), my fathers name will not be on the deeds or mortgage of the new…
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self employed tax...
Help! My boyfriend is self employed and pays national insurance quarterly... yet when he gets his tax return through, he pays class 4 national insurance... can anyone tell me if this is right and why he pays ni twice over? thanks in advance and sorry if this is in the wrong place!
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Tips on Free Tax Filing Options
Consumer tax advocate, Rich Preece, recently released a new video offering tips on free tax filing options to not only help tax procrastinators easily and accurately file their tax return before the deadline but also to ensure they get the biggest possible refund on their taxes. To view the video offering tips on free tax…
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Over tax on bonus (non cumulative)
Hi Guys Wondered if anyone can give me some advice... I earn a basic of around £22000 per annum and every March I get a bonus which is a share of the companies profits. I also have a loan from my employer so my tax code at the moment is 433L and will reduce further in April. I received my bonus this month however I seem to…
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Benefit in Kind Tax - can this be offset against rental income?
Hi, I have a question regarding my tax liability for the coming year. I work for a bank and have taken advantage of a staff mortgage deal which I have on a property I now rent out. As the interest rate is not publically available I am obliged to pay benefit in kind tax on this (based on the benefit I receive through paying…
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self assessment nightmare
At the beginning of January my husband who is a self employed sub contractor in the construction industy received a letter from HMRC saying that we had to submit all receipt for 2008-2009. We sent the receipt away and received a letter back today. My husband works away fromn home as a joiner is usually home every second…
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Bewildered Tax on 4 pensions
I have already sent off my P161 but as yet not received my tax codes for 2011/2012, I have read on this forum about HMRC sending out the wrong codes and this causes me concern as I have 4 pensions 2 of them miniscule and am bewildered about how they will split my personal allowance and what tax codes to expect. I know I…
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Overtaxed
Hi all, Just really wanted a moan essentially. I filled in my tax form late (v. stupid I know). I have been charged 2 lots of £100 fine. One for my personal tax and then one for my partnership tax. This seems a little unfair as it was all filled in together in one form. Also, is there any way of receiving a statement to…
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Tax underpayment due to BR code
My husband has recently received two P800 notices from HMRC relating to the tax years 2008-9 and 2009-10 stating he has underpaid his tax for those years. The reason stated for the underpayments in both notices is "the amount of medical expenses benefit included in your PAYE code was lower than the amount taxable". The…
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Tax underpayment
Hi, I was wondering if someone could help. I have received a PAYE coding notice letter this morning in the post. The letter states that my tax code for 2011/12 is 307L and then a note of how it is worked out, which states: Personal Allowance: £7475 Underpayment Restriction: £4397 Tax free amount of: £3078 = (code 307L)…
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Tax Codes for 2011/2012
Hi, has anyone received their codes for 11/12 yet?.
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2 Pensions - Tax Codes?
Please will one of the HMRC experts tell me how my personal allowance of £7475 will be split between 2 pension providers so that I do not pay tax for the year 2011/12. ie. what coding notices should each of my pension providers be given by HMRC. I have scoured the HMRC website but the worked examples only show whether or…
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Claiming accomodation via (a kind of) Umbrella company
Hi I'm an agency worker and some of my work takes me too far away to commute. While my employer is the agency, they run a scheme similar to that provided by an umbrella company whereby I can claim mileage allowance, accomodation, meals etc back from tax. What I can't quite get my head around is they tell me that while I…
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new job tax advice
Hi all, I was self employed for two years and I worked from home. I recently claimed working tax credits in Jan 2011. I have an accountant who sorts out everything. But since work has been falling, I have been applying to jobs. I have a job now, and will be starting next week, I will be paid monthly in arrears. £22,500.00…
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Council Tax - wife/husband in separate properties
Can anyone help with what Council Tax would be owing in this scenario. Husband stays in one property all year round. Wife stays (because of work commitments) in another property during the week and joins her husband at the weekend. Both properties jointly owned. At the moment both stay in the same property during Monday to…
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Leasing Car - Reclaiming Tax
Hi, I recently decided to get a lease car, which is about £300+VAT per month. I use this car almost 80-90% for business use, I probably use it about 10% for personal use. I know I can claim the 50% VAT back, but is there any way I can claim the lease amount back each month also? I dont think I should have to pay the full…
