-
Tax and two jobs
Hope this is the right board, because I don't necessarily want to cut tax, just ensure I'm not paying too much. I have two jobs, one which I've been doing for 18 months, which is only a few hours a week and I don't pay any tax or NI. The second job (classed as a second job with the tax man) is 15 hours a week, and I'm…
-
Tax on my offshore bond.
I recently surrendered an offshore bond that was left in trust to me. As it was offshore I was under the impression, as no tax had been paid, I had 20% tax to pay on the gain (providing the gain does not take me in to the higher rate tax, which if top sliced does not). The bond was started in 1995 of which I had two…
-
Reduction in top, 50%, rate of tax?
Interesting high taxes are stifling the recovery. I am surprised that 300,000 plus people are paying it. I am sure this number will reduce this year as they work their way round it. Last year they were caught out by it's speedy introduction.;)
-
No evidence of tax paid for previous years
Unfortunately my partner did not submit his self assessemnts for a number of years and has recently completed them for previous years (2006 to 2011), however it has come to light that there are earlier years when he did not submit his self assessment form. Although he was self employed tax was deducted from all his…
-
Advice Please
Hi, OK, I’ve been a bad boy….. Basically I run a website as a hobby, and have made a small amount of money from it. (£450) over 12 months. The money came In the form of advertisements. When the money comes in dribs and drabs, £5 here £10 there, it does not seem like much, but over the course of a year it does add up. For…
-
Cash gift from (which) relative?
Is it O'k to receive a fairly large cash gift from my first cousin who is resident in the States without incurring tax? I understand from reading threads here (where the donor is usually a parent) that the gift is not classed as income. How does this work with the revenue, do I have to report it to them upon receipt or at…
-
Claiming Tax back with Petrol Card and Car Allowance?
Ive been led to believe that I can claim tax back. I drove 16,000 miles last year, 6,000 of which were personal miles. I recieved a car allowance of 5k and a put all my petrol (personal and business) on a petrol card, the end figure on the petrol card for the year was £3,680. Am i entitled to claiming anything back from…
-
Class 4 NIC & Tax return
I'm emplyed in two jobs and also let a flat out that I own. I am just doing my tax return for 2010-11 and I appear to have a huge bill titled: Total tax, Class 4 NIC and Student loan due for 2010-11 I understand the student loan as although I have finished paying it, I didn't make any repayments on my second job (job 1 is…
-
CGT liabilities
Are we threatened with CGT? :o My wifes dearly beloved sister died in Jan 2011 and left her entire estate to 5 benificiaries. All 5 are close relations as she had no husband and no children. My wife is a benificiary and also one of the 2 executors. The estate comprises of a house, valued for probate at £340k, a valuation…
-
same earnings different tax!!!
Hi all, Can anyone give me any idea why I would pay different tax on the same earnings in two different months? I am employed and pay tax under PAYE. In May my salary was X and my overtime was Y. In August I paid £40.00 more tax and yet eveything on the two pay slips are identical to my May payslip i.e. earnings, NI,…
-
Emergancy tax help
Hi hopeing for some advice, I haven't had a job for past 2 years and therefor no p45 or any other docs. Now I've got a new job and obviously I'm going to have to go on emergency tax, How is this worked out I've seen on HMRC site that its 747L or 747L W1 but on other sites I've seen it BR which is the case? and how much on…
-
Reclaiming Mileage
As the mileage has went up to 45p a mile for this tax year, does that mean I can reclaim the extra 5p for any previous mileage claims I have previously submitted since 1st April? or can i only claim when the company I am claiming of is notified of this increase? Cheers
-
Foreign Tax Credit and Schedule D
Can somebody advise where to enter and claim Foreign Tax Credit in relation to Schedule D or If I do not need to enter it? Live in UK and most earnings as employee but in addition have small amount (Turnover <£2k) of consultancy taxed under Schedule D. Last year some of this was from Republic of Ireland and substantial…
-
Tax underpayment demand £3500
: [URL="http://www.facebook.com/sharer.php?u=https://forums.moneysavingexpert.com/discussion/3464199[/URL][URL="http://twitter.com/?status=https://forums.moneysavingexpert.com/discussion/3464199[/URL] [FONT="]Just rec'd letter claiming £3500 underpaid for 2009 and 20010 and adjusted code for 2011. Situation Took early…
-
Claiming back tax and national insurance
Evening I am currently on maternity leave which I started in April. As I am on SMP and going back part-time my earnings this tax year will be c.£6,500 which is under the threshold for paying tax and national insurance. However I am still having tax and national insurance deducted from my salary. For two months I did have…
-
Part-Time Postgrad
I'm starting a Part-Time postgrad degree and was wondering if there were any tax breaks I'd be entitled to whilst being a student? I'll still be working full-time and my employer isn't being particularly accommodating, but I still want to do the course so I'm primarily using shift swaps and annual leave to be able to…
-
Tax Coding Notice/P11D Query
I occasionally claim mileage payments from work and each year I receive the P11D Expenses and Benefits statement from my employer. In part E (mileage allowance in excess of maximum exempt amounts), there's always a small figure like £30 to £40 depending on my mileage claims for the year. This has never had any effect on my…
-
contractors 24 month period
Greetings, If a IT contractor employed by an umbrella company is working on a site for 18 months, then leaves that contract and commences a totally separate contract within a different department and separate expertise area for 12 months but is still working on the same site, does the 24 month period refresh or is it…
-
Saving abroad.
A friend of mind want to take his saving abroad for best interest rates and pay tax in that country what would this mean if he does this will his state pension be affected as he will be still residing in the UK.
-
council tax question
me and my ex bought a flat 3 years ago we have since split. long story short we currently share the flat here for half the week each as cant afford to sell right now. im thinking of taking it on but will need to keep him on the mortgage until the value goes up and we can sell. what i wanted to know is if there are two…
