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National Insurance contributions when working abroad.
Husband works in Norway on the rigs but lives in the UK. Pays tax in Norway only. For the last 2 years his Norwegian NI has been deducted at source from his wages but paid back to him at the end of the tax year as the Norwegian tax people gave him (for some reason) a 2 year exemption from paying NI contributions in Norway.…
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Turnover....What is it??
I apologize that this has been written elsewhere, But I am DESPERATE as I am in financial ruin (almost) and need to see if I can get a tax return (Fingers Crossed eh?!). But what do I put in the 'TURNOVER' box within my Self-Assessment Tax Return?. For example, between April 5th 2010 and April 5th 2011, I have earned…
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Why are self employed treated more harshly by HMRC?
Im employed and I discovered last week that I owe £2400 worth of tax over three years; cut a long story short but they have agreed to let me pay this in instalments over 3 years interest free. The underpayment is due to my employer not sending my P46 and P11D to declare company car and benefits. Whereas, a friend of mine,…
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Why are self-employed treated differently to employed when paying back tax owed
Im employed and I discovered last week that I owe £2400 worth of tax over three years; cut a long story short but they have agreed to let me pay this in instalments over 3 years interest free. The underpayment is due to my employer not sending my P46 and P11D to declare company car and benefits. Whereas, a friend of mine,…
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Dealing with Tax
More 'letting off steam' rather than asking for advice, but I'm still fizzing after spending time phoning HMRC. I get State Pension and 3 small private pensions. At the start of each tax year I usually have a rocky road getting tax codes sorted out, but they settle down later. This year there was no Coding Notice and…
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Taxcodechecker
Hi After reading The Sun, I had a quick check on www.taxcodechecker.com as I put 647L and my basic salary is £27K. i get the message: There's a difference of £1005 between the tax free allowance suggested by age & salary, and the one from your tax code. Unless you have any other income, or deductions (see below), it…
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How do you minimize CGT on shares?
Is it correct that the annual tax free allowance can't be carried over to the next year? If you are a non-tax payer for income tax, do you still pay CGT when selling shares? What do you do to minimise the amount you pay in Capital Gains Tax on shares? Do you sell your shares every year if you make a profit or does that…
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Council Tax
In September 2010 I had a student house contract for the following academic year. But I was no longer a student as I had been dropped from my course. I applied for places at other universities, but it was too late. The letting agency stated that I was liable for the full contract. As I was no longer a student I moved back…
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Entitlement to Tax Relief
Hope this is the right thread. Reading from this link; http://www.hmrc.gov.uk/manuals/rpsmmanual/rpsm05101120.htm I'm a bit confused as to what this means in real terms. My husband has a Tax allowance of £7475 and pays Tax at 20%. He has an NHS Pension and wants to pay into an additional pension with them which would be…
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can I claim for this
I'm pretty sure I know the answer but no harm in asking lol last April ( 2010 ) for my birthday my lovely family bought me a netbook , today while tiding up I found the receipt , my first thought was oh I could claim for this when I fill in my tax return as I use it for checking emails etc for our card business but when I…
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Cutting Council Tax Or Stitching Up The Neighbours?
Hi any advice would be appreciated I have checked the bands of my neighbours who are all in band C however I am in band D. Checking the valuation guide from 1991 via the valuation that took place for me in early 2004 it would seem I should be in band C also. When the valuation was done there was a single storey extension…
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Does the interest from a long term saver be as part of this years tax form?
Hi everyone Hope someones can help. I've just had a tax return form that I need to fill in asap. I will be due some tax back, but my question is i have a 3 year bond with halifax. The interest from that will not be paid until it matures in December 2012. My question is is is it declared in this tax year or is it mentioned…
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Can I borrow a tax-wizz for a minite please?
Over on the debt free wannabe board someone has proposed a little game for fun, basically starting with a very small sum (£1, £5 or £10) and then buying and selling and seeing how much money you can turn your starting cash into. Last time someone got to £120 or something. Now a discussion is taking place about if we all…
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Am i on the right tax code?
Hello, i have recently started full time work, it's not my first job, but it's my first propper job. I am earning £14000 a year, i am 17 and have been put on a 647L tax code. Is this correct? Ash
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In a muddle
My first post.....and I am in a mess which I would like help with as I try to get back on track...... I was an owner occupier of a flat and moved out to rent a house when I had children (long story with pitted with bad decisions, mistakes and illness). I rented out the property that I own (I couldn't sell it what with the…
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Self employed income - mainly cash?
I am registered as self employed. I earn way under the limit to start paying tax or NI. I average c. £40 per week income from tutoring a couple of evenings per week. I have been just taking cash each lesson as payment. I keep a record in my diary of what has been paid and when, but I do not take the cash to the bank as it…
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Tax codes :)
Hubby and I are trying to figure out Tax now with the personal allowance going up. Will they just start taxing him less on his pay or will he not pay tax until he reaches the allowance limit? Or could his work tax him at the same rate as now and expect him to claim a rebate at the end of the tax year? I have a sneaking…
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Registering as Self Employed - Business Start Date?
Not sure if this is the right forum, but I need some tax advice. I have a hobby that recently started to make enough money to be taxable. The hobby, which is a few websites that have adverts and commission links on, was started way back in 2004 when I was a kid but was earning pennies a day back then (bear in mind this has…
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Tax rebate question
I was wondering if someone could advise me. My son is in college and during the holidays sometimes does a odd couple of day doing casual work where my husband works and he is paid via an agency. On his first pay slip he paid emergency tax of about £11.00 and another £4 NI, will he be rebated on this, as i said it is not…
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Bonus
If anybody knows about this I'd love to know the answer! I am paid my salary each month which is constant for a year, but goes up every September, and I also receive a bonus every September too, but this is a one off and is usually between £1000-£2000. My question is: does this affect the amount of tax I pay overall, as in…
