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capital gains tax query
i have a CGT problem which i would appreciate some advice on. Several years ago (2002) my mother transfered her house to my sister and me. She had been widowed the year before and wanted, as she put it to safe guard our inheritance. Foolishly neither my sister or i looked into the pros and cons we simply turned up at the…
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new business...advice needed re tax
Hi All, I hope some of you can answer the questions I have regarding my situation. I currently work as a teacher full time and earn around £45,000 p.a. From next year I will be reducing the time I work at school to just three days a week (part time). The reason for this is that I am setting up my own educational…
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E31/06 Win a Pair of Aviator Sunglasses
Delete please
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Overseas Property Rental
Hi, does anyone know if its more tax efficient to own an overseas rental property via an Ltd or in my own name? I'm a basic rate taxpayer. Thanks.
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Relevant Life Insurance - half price life cover
I don't know whether this has been picked up on the site, but by all means wheel this thread if I'm going over old ground... I have been trying to cut the burden of pretty much everything lately without cutting the benefit of it if possible. Life insurance has been a big target - my wife and I have bits all over the place…
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Probate
Hi, I am the sole executor of my mothers will. She sadly passed away in February and I have gathered together all the info needed for probate. Her will included a discretionary nil rate band trust. We do not want implement the trust as it was only created to avoid IHT. Therefore I have contacted a solicitor to get a deed…
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Summary of interest paid
Every year the Halifax sends me a summary of what interest I earned and what tax I paid on it. Now I have to self-assess this info would be useful from my other banks. Do they have to provide on demand or do I need to trawl through my statements? My main bank is the Nationwide.
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which expenses can I offset against rental income?
Hi, please would someone let me know if I can offset the cost of redecoration against rental income for tax purposes? This was the first time letting the property so it was redecorated prior to the tenants moving in. There are also additional costs incurred after they moved in, including fence panels that needed replacing…
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Help! Tax Evasion
Hi, How do you register for tax.
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just a quickie
Can anyone just confirm i am working the mileage allowance out right for my husbands self assessment? 3213 miles x 40p = 1285.20 ??? how does this need inputting into the self assessment form? do i deduct this amount from the profit? sorry if this is a really daft question i'm just worried about filling it in wrong. thanks…
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Splitting price for house and adjoining land for SDLT tax
A house that I am interested in is for sale at £560k ish The vendor is also selling the land adjoining the house (which he has bought only 2 days ago so it is a separate title), the price for which has yet to be agreed, but let's assume it is £15k I cannot see any reason why I cannot offer £495k for the house and £80k for…
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Self Assessment : Interest from Bank/Savings A/C's
Hello. This year I'm attempting to save £400 accountancy fees and doing my Tax Return myself via Self Assessment. My accounts are very very simple (payments in, payments out and a bit of travel). Looking through the forms, I notice I'm being asked to input any interest from bank/savings accounts however any interest I earn…
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Bringing money into the country
I am enquiring on behalf of a friend. He is going to a non-EU country and intends to bring into the country a significant amount of money when he returns. It's a legitimate source of money from the sale of property. What tax implications are there? Is it IHT/CGT or anything else? I'm just wondering if there is any tax…
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Advice to get P45
I left a job on April 1st and my old employer is ignoring all my attempts of contact, He just wont send me a P45 out, what legal action can I take?
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Vat charges of £50,000
ANybody help, got a bill for £56100 unpaid VAT, for a ltd company that i shut down. I realise the sum is just a top of their head figure from the IR, but as i was the owner/director can they comeback to me personnally and get the money? Tried speaking to my old accountant and he says just forget it, is he right? Any help…
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Tax rebate
hi i changed jobs last august time and was on BR tax till March this year and was wondering how do i go about getin a tax rebate i do have my p60 thanks
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husband S/E - builder paid him minus tax? help
My husband is a self employed electrician - and did some work for a builder on a house - as he has done many times - but this builder on production of the invoice - set about with calculator and deducted the tax?? my husband said no i pay my own tax bill etc etc but the builder was adamant that he did this for anyone who…
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P60, Have I Paid Too Much Tax? How To Claim It Back?
So I got my P60 and suspect I have paid too much tax as was on a M1 code for all of last year. How can I see if I am due a refund? How do I claim it back? Sorry simple questions but I couldn't find an obvious answer using the search facility! Thanks!
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Selling a house abroad
Hi All, I am hoping someone can help and /or point me in the right direction. About 5 months ago I married my gf of 7 years. Her mother (her only parent) gave us one of her houses. (They are both originally from Brazil and the houses are there). We want to sell the house and believe based on curent exchange rates it's…
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IHT question
Hi all, hoping some of you can give me some clarity on my situation. A few years ago (2007) an elderly friend gifted my wife and I 90K (45K each). Unfortunately she passed away last November. I'm aware that we are likely to have to pay IHT on this gift now. Our friend had a reasonable estate. She owned her house (~210K)…
