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Company car or no company car, help me pick a plan
The last 4.5 years I have been providing my own work vehicle, my recent reimbursement was a taxed $300/month plus .19/mile, distance from home to the office is unchargable. I currently drive just a hair over 15,000 miles/year strictly for buisness. I had to provide all my own maintenance ect and I was unable to claim any…
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Company Car tax assistance
I am lucky enough to receive a monthly Car allowance in my current job, up until now I have taken the allowance and run my own car. However I am now trying to calculate the cost of changing to a Company car. I have calculated the BIK value of the car and I appreciate there are many sites showing the tax you would pay if…
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Self Assessment help
Hi, I have been self employed for a year and thought it was about time I thought about doing my tax return. I am a Sole Trader and as such do a few things such as mystery shopping, filling in surveys, web evaluation, advertising on my car... I remember talking to the tax office when I registered as self employed and they…
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Would cutting the size of our government surely be the best way to reduce taxes?
If government was smaller taxes could be smaller. We might even be able to abolish income tax or maybe even volunteer our input to the government. Small government capitalism is the answer! What do you all think?
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Tax and sponsorship of MSc Degree
Hi, I'm a 37 year old married father of four and have managed to secure some funding to take a year off work to study an MSc. I mention the kids, as to do this course I need substantially more funding than the average student. I have now secured £30k sponsorship from a third party, i.e. not my current employer, and they…
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How to check if I am paying too much tax from working
I have seen the tax calculator but don't really understand it is there a simpler way?
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parents want to give/lend me cash but will there be tax
Hi My parents want to give/lend me £100k as im going to move to australia in Feb 2012 and I was wondering if this would be a problem in terms of tax. If so whats the best way round this all? Many thanks
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Self Assessment Tax Form
I pay my tax each month through PAYE, but it appears that I might have to fill in a self assessment form as the company I work for got bought out in December and I was allowed to exercise the share option I had in the share save scheme, but because it was before the 3 years were up, it looks as if I am liable for income…
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Class 2 NI after maternity leave
I was self-employed before taking maternity leave late last year and have been receiving Maternity Allowance (MA) since then. This will come to an end in September. While I have been on MA my Class 2 NI contributions were covered by the government. Am I right to assume they will start collecting them again by direct debit…
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Life insurance and trusts
Do policies have to be put in trust when they are first written or can it be done a few years down the line? Can someone explain (in really simple words please!) the advantages of using trusts? My husband and I both have matching term insurance policies for a significant sum insured. Thank you.
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Looking after grandchild
Sorry if this is the wrong place! Can someone shed some light on someone (about to claim State pension) who has been looking after granchild roughly 1 day per week for the past year. She has either been paid a small amount or, groceries paid for etc. She has not worked for a couple of years but not recieving any benefits…
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work and pesion tax
Hello, This is my first post, so please bear with me. I have a question. I am about to leave the RAF after 22 years. This entitles me to an immediate pension of £8766 pa. I will be starting a new job as soon as I leave. This job pays £43k pa. The question I have I suppose is:- Am I better off paying 40% tax on my pension,…
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Car Tax, can I challenge my rate ?
Hi, I have just had my car tax reminder, for my 1.9 gt tdi , 1999 model. Before I bought the car i checked the tax band on parkers website, It said for years 97-04 would be £115 p/a, my bill is for £215 p/a. I checked the gov website and it does say that car over 1549 registered before 2001 are rated at £215 P/a. But…
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Tax treatment when leaving the UK - my experience
I thought I would share with you my experiences of dealing with the tax people after recently leaving the UK. It might help others in a similar position. I left the UK in early June, although to all intents and purposes I was employed by my UK employer until 30 June, given that I too the last three weeks as paid leave. I…
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second job on wrong tax code need help.
hi guys could really do with some help. recently noticed on my 2nd job pay slip that i wasnt paying any tax or contribution when i checked the tax code was 547L before april it was br my first job is on the 747L rate. the accountant for my second job said he'd been sent a form from the tax office saying i only had one…
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Stamp Duty
Hi, Looking for some advice re Stamp duty. I am in the early stages of buying a house for £319,250, which will give me a tax bill of nearly £10,000, like all we want to try and reduce this if possible. I have read on a few sites stating that some companies can save you nearly half your bill, obviously I'm very skeptical.…
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council tax overpayment written off by council
I have over paid my annual council tax rather than credit or refund me my local council have written it off , i have made a call today and its the policy to write off overpayments and summons late underpayments with a £50.00 cost, unless you request the refund, i don't get any statements to show how much i have paid yearly…
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Council tax band revalued at higher band, now council want backdated tax!
In August 2009, me and two friends moved into a flat in London. I then moved out six months later to move in with my boyfriend and another girl took my room. Fast forward two years and after an anonymous tip-off (probably a failed check and challenge attempt!) Hackney Council have decided that the flat was in too low a…
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Tax saving options to fund a part time masters?
Im about to start a part time masters while I work full-time and money is running quite tight to fund this even though i will be earning an income. My question is quite simple, but I reckon the answer is slightly more complicated: Is there anyway of benefiting from tax savings as a part time student? eg1. Salary sacrifice…
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Inheritance Tax help
Hello, I've recently experienced the loss of my mother and am now due to inherit her estate along with my sister on a 50/50 basis. My father died back in 1993 and left everything to my mother. The inheritance tax threshold in 1993 was £150k. My mother's will was last updated in 2009. We have an estimate of £450k as being…
