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Inheritance tax advice. How does it work?
[FONT=Times New Roman,serif][FONT=Calibri,sans-serif]Hi[/FONT][/FONT] [FONT=Times New Roman,serif][FONT=Calibri,sans-serif] [/FONT][/FONT] [FONT=Times New Roman,serif][FONT=Calibri,sans-serif]Unfortunately my mother passed away recently and left a substantial estate in her Will. [/FONT][/FONT] [FONT=Times New…
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What does this mean?
Hi, hope I'm posting in the right place, couldn't find a more appropriate one! My son has just had his first pay slip after starting a job 3 weeks ago and there are 2 entries on it that neither of us can find any reference to in a google search. One is TIC EES (a deduction of £60) and the other is TIC ERS (a deduction of…
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Dreaded R27 form - untaxed income during period of administration
Hello all - my mum passed away last month and have been faffing around with form R27 "Potential Repayment to the estate" for most of the intervening time(!). I've obtained probate, all done, I am now just trying to make sure I'm not withholding anything on the R27 form. Basically I've obtained a handful of (not very large,…
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Self Employed Maternity Allowances
Hi, I just wondered whether anyone could help. I'm pregnant and due in March and am self employed. I have a certificate of exception for Class 2 NI so it looks as tho I'm only entitled to 90% of the Maternity Allowance Threshold of £30 i.e. £27 per week, which is what they will class my earnings as, even though my earnings…
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Sell or Rent
My mum passed away in January this year,and i am trying to sell her house,without success.I am thinking of renting,but at the moment the house is in her name,so it could be sold without tax implications. In order to rent i would have to have the house transferred to me,but if i then decide to sell,would i then face tax…
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GCT help needed
Can CGT be avoided if the valuation of an asset was too low when probate was granted if the time lapse cannot justify the valuation change. My wife is the executor and sole beneficiary of her father's estate in which the main asset was his house. The sale was agreed at a price £24K more than the probate value (he died…
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little man Vs HMRC
Hi all, I've been struggling with the following for quite a while and would welcome any advice from those in the know. At the end of the tax year 08/09 I asked the HMRC to do a tax calculation as I always do, at this time I forwarded them all the applicable information, P11d, P60, and copies of pay slips. A couple of…
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How to get statement of earnings from previous employer?
I am 24 and have worked since the year 2005. Unfortunately through a mixture of naive ignorance and disorganisation I have lost the majority of wage slips and end of year certificates etc. I have just read employers legally have to supply a statement of earnings on headed paper for 6 years after you were employed is this…
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help with tax code pls
hi guys i was running my own business till 18 months ago to date (was ltd company which i was a director), i signed on after an awful year and the credit crunch etc etc. on may 3rd 2011 i was lucky enough to fall back in to full time employment on a salary of £25000, i have noticed my tax code is 47L is this emergency tax…
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Confusion over tax overpayment advice
Hi all - apologies if this is an often asked question! I started my employment on 4th July. Prior to this I was a student for two years. During this time, I worked occasional 'bank' shifts at an old job I left in 2007 to get some extra pennies (I was in another job from 2007-2009). At the end of July, my payslip showed…
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Student Loans on P46?
I first got a student loan in 2006 and finished that course in 2009, I then got a new student loan in 2010 and finished that course this summer. On my P46 it says: "If you left a course of UK higher education before last 6 April and recieved your first UK student loan instalment on or after 1 September 1998 and you have…
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Pay off mortgage equity or save in ISA, tax efficient?
I can't quite get my head around this! I have a buy to let mortgage and have a remortgage on another property. Both of these are interest only and I am claiming the interest on both against my tax liability. Am I better off gradually paying off one or both mortgages thus reducing my interest payments and increasing my tax…
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confused....
Someone recently noticed my partners tax code was wrong and it has been for nearly 2 years, it was BR so i called the tax office and they have now changed it. What happens now...does my partner have to fill out a P46 still and how does he claim his tax back? any info will be appreciated, thank you :)
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Receiving a large sum from overseas - Tax implications?
New to the forums so hello everyone! :) I've been scratching my head for hours trying to find out the laws on taxation when it comes to receiving, say £200,000, from overseas. The money will come from a piece of land owned jointly by my father-in-law and my wife. My wife's name is only on the deed, she didn't actually pay…
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Lost my tax return envelope - return adress?
hi all hopefully this will be a quick one, due to BR i have to file my first tax return but i cant find the supplied return envelope so does anyone know the return adress? i was sent the forms by HMRC in Newcastle but i know they have multiple offices and dont want to get it lost in the post and get a fine cheers GTanny :)
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Am I paying too much tax? please cn someone help me
I have a lot of debts so have done a lot of overtime this month, and managed to get a £333 bonus too, But just got my pay slip today and my heart sank - http://imageshack.us/photo/my-images/806/payslip.jpg/ Is that tax too high? I genuinely have no idea about this kind of thing. Any help appreciated.
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URGENT help needed-deed of variation
I'll try to cut a long story short Great aunt dies 2 weeks ago leaving a 6th of her estate to my father. As far as I can gather from the executors the will states 'to my father, or if he has deceased to his spouse' My father has been told yesterday he has 2-4 weeks left due to cancer. His will states all money to go to his…
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claiming back tax on interest payments
Back in 2006 I paid tax on the interest earned on a savings account I had with Scottish Widows. As I was a non taxpayer that year is it still possible to claim back the tax paid, or have I left it too late?Many thanks.
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How to interpret Dividend Distribution
This is the first time I have ever received a Subsidiary Tax certificate (Unit Trust/OIEC distribution) and don't know what I'm supposed to include on my tax return so I'll post the figures and hopefully someone can tell me which ones to declare. Tax Credit............................................£29.37 Dividend…
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Declaring tax and a P60
Can anyone advise me please?! I'm a teacher, have a second home (through marriage) which is rented out. Last year we paid a professional company £300 to do our accounts and log them online etc. This year we want to save on the amount as you can imagine, I have all paperwork of what we have paid, spent etc on our house, a…
