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Tax code wrong
Hey guys,Sorry if this is the wrong place to post this? Anyway i recently got my P60 and looking at the Tax code on my P60 to the tax code on my Payslip they dont match. P60 -647l Payslip-747l Do i just phone the Tax office and they will sort it? Do i have to tell them anything at work also? What do you guys think the…
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NI with two jobs
Hi all My wife is just about to start her second part time job. She will work 2 days a week at each job and get paid about £550.00 a month for each job. As each job on it's own is below the tax threshold, we thought it would be best to split her code and pay some tax on each job. The problem is I can't seem to find out how…
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Tax and Care Home Fees
This is a bit complicated and I will find an appropriate expert in the near future, but would appreciate your views. Mother-in-law is gaga and in a residential home with nursing care. Fees are around £1,000 a week, but some of this is offset with benefits (DLA etc.). She is not wealthy but benefits from the income only…
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Capital gain tax. Any ways to avoid??
my mother is looking to purchase a property for myself and after a year when i can get a mortgage i will buy it back off her for the same price. although in this time i will have renovated the house and increased the value. how can i avoid tax etc? could my mother buy the house and the deeds be in my name? then i take out…
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National Insurance thresholds help
I'm a student and haven't been working during term-time. If I get a job over the summer for which I get paid more than the National Insurance primary threshold of £602 per month, for 3 months, and then don't work again for the rest of the tax year, am I able to claim back the contributions I've paid for those 3 months,…
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How to reclaim tax on self paid work training?
I have two questions about tax. First of all I work in IT, and after my lost job finished in March, I spent £5000+ of my savings with a view to helping me get my next job. How can I claim back the tax (presumably 20%) on this sum, as it is a work related expense? FYI although I have always been a salaried employee, I have…
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Esc a19
I am hoping someone can give me some advice here. I'm certainly no tax expert but have strong feelings on the below situation. I could really do with some help and some people on this forum obviously know what they are talking about and i'm getting more and more engrossed in this subject the more i read about it. I have 2…
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Can this be done?
Hi I am way out of my depth on this as I have been employed for the past 27 years and know nothing about tax. So any advise would be really appreciated. I have been offered a taxi plate for a very good price, i have worked out that with the weekly rent i would have it paid back in 3 years however i have no idea about the…
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Is Car Allowance classed as Car Benefit?
Hi All, I just called the tax office as I have just started receiving a £450 per month car allowance (shown seperate to wages on my wage slip), as well as a small wage increase and bonus, so I wanted to make sure I would be paying the right tax. The guy told me this was classed as a Car Benefit and my tax code should be…
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Query about Tax from Source and NI contribution
Hello friends, My wife recently got a job. She has a short term job for 6 months. She is going to get 15K for the 6 month period and she got her 1st month salary slip. 1. She is being charged for 30,000GBP tax and NI 2. Her total value is calcuated for 1 year rather than 6 months. a. How can we advice HMRC not to take 1…
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Overpayment of Income Tax ?
I have just been checking my other halves payslips & p60 for the last tax year and I think she has overpaid tax last year and is now on the wrong tax code and therefore has paid too much tax for the first few months of this tax year. She works part time 18 hours per week plus some overtime from time to time. She started…
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Inheritance tax ( extra investments discovered)
Hi. I wonder if anyone knows how/when to notify tax dept of extra funds which may need to be added to estimates I made to obtain probate. Depending on responses from investment companies the estimates of the value could change from £306K to anywhere between £326k to £340k. Thanks Paul
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counciil tax reduction low income and single occupancy?
I am about to move into a flat with a high tax band. It will only be me moving in so I am aware I can get a 25% discount. I earn 16,000 per year could I be entitiled to a further low income reduction? Anyone know by how much? Thanks
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P800 Query
I have just received a P800 through the post claiming I owe £2377.42 for 2007/2008 - unfortunately the calculation seems correct. Digging out the paperwork for that year it seems my company changed names and the total pay reset in Aug and started counting again from that point. This brought me under the 40% tax threshold…
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ESC A19 clause success
Just thought I would share my recent experience.... I received this year two P800 forms (tax calculation) for the years 2007/2008 and 2008/2009. The sum result was that I owed £1371.30 in income tax which would be collected through my tax code during the year 2011/2012.:mad: As part of the calculations on both of these…
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Council Tax with a student in the house
Hi guys, I've been told that in a three-person household with one student and two full time workers - this would not make a difference nor discount the council tax. Is this correct? Thanks
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Complicated Tax rebate (maybe?)
Hi All, I've just received my p60 and want to claim my tax back for the year 2010-11. However... I returned from Australia in September after spending a year there travelling and working etc.. When I returned I worked for Royal Mail as a Xmas temp until Mid Jan when I went to Asia for 6 weeks or so. When I got back from…
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Why is it more Tax efficient to have a B2L on an Interest only basis
I know that it's more tax efficient to put a B2L mortgage on an interest only basis but I don't fully understand why. Please could someone help me and explain why it is.
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Inheritance Tax- Business Relief?
Im confused with regards to whether a transfer within the family is taxable in terms of inheritance tax. I assumed a PET to sons and daughters would mean the usual 7 year rule, however i have just discovered this on the HRMC website Does this mean a parent could transfer his business to children, and not be charged…
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Being made redundant with extra pay
Hi I'm in the process of being made redundant. My contract says I'm entitled to 3 months notice, which my employer has told me I will have to work. They have said that in addition to minimum stat. redundancy payment, they will pay me an extra 3 months salary if they are happy with the training of other employees to do my…
