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tax code
Hi is there anyone who can help me solve my tax code problem. For the last 5 yrs i have been on BR tax code for my main income, due to the fact i recieve a pension from a previous employer. I am only thirty yrs old. the tax official website states that your tax allowance is for your main wage and BR code for second…
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Anyone know where we stand with under payment of income tax
My husband stopped working in 2003 but receives a money from a prolonged health insurance policy from his works he also gets Incapacity benefit. We had a letter last november saying we owe them £1100 for the year 09 -10. I phoned them up they said we never notified them we were getting the insurance policy & incapacity and…
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Tax Increase Nightmare - K401 Code
All - am new to this forum but hoping someone out there can help me. In a nutshell I've been hit with a ridiculous increase in tax since the start of the 2011 year, which means me paying an additional £430 per month (!) in tax when compared to the same time last year. The story begins in March this year when I recieved a…
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HMRC - Rant
Tried to file our company's year end submissions using the PAYE Basic Tools on Wednesday only to find that the HMRC system was down for an upgrade. Logged into my email account on Thursday to find 12 submission receipts from HMRC acknowledging receipt but saying that if they were test submissions, would need to submit…
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self employed tax return/rebate
My brother is due to submit a self assessment return. He works on a 'self employed' basis in the building industry. His 'employers' ie the building contractor deducts 20% of his wages each week which I assume he needs to claim back, minus his personal allowance. He has recently been made unemployed and is broke so thought…
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Self employed,expenses query
2009-10 I was self employed but earned so little that I didn't bother to claim any expenses - I know,stupid but I didn't really understand how it worked and as I was well under the personal allowance it seemed a waste of time to add it on my return. Just preparing return for 2010-11 and my gross profits are just over the…
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İf i go abroad and tax exile myself
İn 3 years i am considering going abroad full time but retaining my property here--my logical aim is to clear the mortgage in that time and let the place to supplement my pension.--i have an occupational pension that is being drawn now that uses all my tax allowance but i am wondering how they work tax out if i am no…
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Business Use of Private Car and Income Tax
I'm completely new to this forum and have a specific question about the reclaimation of paid income tax. Okay here goes. I'll try to explain the best way I can without confusing everything. I drive my own car for business. I reguarlly exceed 15000 miles per year and get paid by the business for these miles at the…
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Tax on savings?
Up until now, I've never paid tax when working as I wasn't earning enough. However, I've started a new job that means I'll be earning about £8,000 a year. My tax code is 747L, so I'll be liable to pay some tax, which is fair enough. * Am I correct in assuming that I will only pay tax on the money I earn over the £7,475…
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Receiving Taxable Benefits for the First Time - Looking for Advice
I've just started to receive a couple of taxable benefits of work, which of course I am happy about, but having never had any remotely complex tax requirements before now, trying to understand what I Should and Shouldn't do is a bit of a nightmare. Can anyone on MSE help? :D I now receive health insurance with a taxable…
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Holiday pay tax :s
When it comes to getting paid usually I don't bother to look at the wage slip, I'd usually go to the bank, see how much I have in, and probably spend it. That were until I went to work Monday night, some people were checking how much holiday pay they had in. When I asked about mine, they told me I have £688, I'm just…
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I do not use company vehicle for private use...but
Last November I was informed my the inland revenue that I used a company van for private use in 2008/9 and was not taxed for it. And so they were going to reclaim that tax over this coming tax year. I immediately wrote back telling them I have not used the van privately since the tax law changed in 2005. Over the next two…
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Tax underpayment
Hi! First time user here so please be gentle.. I need some advice. I have today received 2 Tax Underpayment notifictaions. One for Tax yr 2007-2008 and one for 2008-2009, I have done some research this evening an it appears that these Underpayments may be unvalid due to the fact they are going back so long. Is this the…
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Basic Rate tax,
I have been on basic rate tax since August last year as i had moved from job to job, now im back at my original job i had been fighting to get the tax sorted for a couple of months, I just got my final Pay for the year and tax was sorted, my payrol department said that i would have to claim back money from HMRC, so gave…
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Council Tax court fee
Long story but will make it as brief as possible. Over 5 years ago I lived with one other student, we were both in our final year of our university degrees and lived in a rented property. At the start of the academic year we sent our student registration certificates to Southwark Council to claim exemption from Council…
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What should I do?
Looking for some advice really. I am currently in ‘discussion’ with HMRC regarding underpayment of tax. I have income from two sources, my second job being taxed at the BR rate. It would appear that for 11 years I have been on the wrong tax code. I have a letter from HMRC saying that it is PREDOMINATELY my responsibility…
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Possible wrong tax code???
Apologies if I am wrong, but have a query. My tax code for 2010/11 was 647L - I turned 29 in Feb. I have a 2nd job & taxed with BR. I believe all of mine to be correct. However partner (not my husband yet) is different. 2010/11 was 592L, why??? He's paid weekly so of course got his 1st wage slip for the new tax year & his…
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Director and self employed
I am a director for my husbands company for which I work doing part time admin. I am paid the personal allowance as a wage over the year and a small dividend on top (depending on how much profit we are making). I also want to register as a self-employed childminder. If I did this I know I have to make HMRC that this is…
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Capital gains losses
Wonder if someone can advise me about this: I made a loss of around £8000 on some shares in a company that went bust. They were purchased on www.share.com where no certificates are given and in 2004 the shares were suspended. I did not record this loss on my tax return, but I'm about to make a profit on the sale of a…
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Completing self-assessment - question I don't understand!
Hi all I'm just completing my tax return online. This question comes up: ************************************ Underpaid tax included in PAYE coding (Page 1 of 2) * indicates required information Our records show that your 2010-11 PAYE Notice of Coding includes an adjustment for tax underpaid. Please complete the following…
