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Self assessment mortgage arrangement fees
I currently let a property which until recently has been free of mortage. I have recently taken out a buy to let mortgage on the property, and have used the funds to buy my own residential property. Am I allowed to claim the costs of arranging this mortgage, bearing it mind it was to fund the new (residential) property?
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Self assessment - what counts as repairs
Hello, I hope someone may be able to help me, I am doing my self assessment for the first time this year. I rent a property, and during the tax year 10/11 I had a new bathroom installed - this was due to the previous one being old, dirty and damaged by water leakage. The bathroom installed is very basic as it is a rental…
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Import tax on a board game from the USA?
I'm considering buying a board game online from the USA, and I'm trying to work out how much the import tax would be. $65.95 (£42.69) - the board game $39.62 (£25.64) - shipping $4.00 (£2.59) - handling fee $109.57 (£70.91) - TOTAL So then I went to this webpage:…
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Do I need to self assess and how?
Hi all I work full time and have just been offered some evening lecturing. I will receive payment for this. I do not believe that the uni will sort out the taxation of the lecturing income. So I believe I will need to self assess. Is this correct? If so what do i need to do and what's the best way of doing it? Thanks Mark
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Tax relief
Before I registered SE, I went on traning courses to give me the qualifications to work freelance. I also had to pay professional fees before i traded. on completion of all this, I then registered SE. Is it possible to claim tax relief on the cost of the training and the professional fees? as without these I wouldn't of…
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Self assessment c&£k up
Hello out there I wonder if some one can help me. After selling the goodwill of my business in 2008 and waiting for my debts and contracts to finish, I recently took my final dividend payment in the tax year apr 2011 of around 56k. I was also on a paye of another company and still am, of which I was paid 21k for the year…
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costs of wedding tax position
If i give my daughter money to pay for the caterers, marquee etc is that a gift - they want to organise it all themselves but im worried that my contribution will be considered a gift for inheritance tax purposes (I understand the 7 year rule - and the inheritance tax exemptions) - even if she keeps the bills? or should I…
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Tax help please
Hi I currently work 23 hours a week on the minimum wage which works out at £139 a week and about £7,100 a year . This is ok for this year because I only started this job in August so am currently well under the pay limit allowed but come the new tax year in april this will be different as I will be earning tax free. When…
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Her Majesty's Revenue and Customs- Overseas
This is not relating to 'cutting' tax but tax generally. If anyone can help it would be much appreciated. I am British but live in another European country. On completing my Masters in 2007 I travelled a bit and decided to stay in one of the EU countries. I never informed HMRC about my moving. To let you know, I have NO…
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Benefit in Kind
I took a mortgage from my previous employer (I work in banking) which was provided at a discounted rate and therefore taxed as a benefit in kind. However, having recently moved jobs I am able to retain my mortgage (apparently a loophole where my mortgage provider can't force me to changed product) and am now wondering…
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Need some help with my first self assessment
Hello, No matter how many times I ring the inland revenue their lines always seem too busy. I need to fill in my self assessment for 2010/11 tax year. As I'm doing this online I've got until the 31st of January to complete and send. I'm having problems with the first page though, let me explain my situation. I'm currently…
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Tax on second income
Hi, i am thinking about getting a part time second job. Could anyone give me an idea on the tax i would pay. I earn £31,000 on my main job, which i pay 20% tax i think, a friend has told me that it will be 50% tax because its a second income can anyone let me know how much would i have to pay on a parttime job of about…
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Tax question - Private Medical cover and P11D
I have just received a tax calculation for 2010-11 saying that I have underpaid on tax for medical insurance. On my P11D for this period I have Cost to you - £ 1610 Amount made good or from which tax deducted - £ 1090 Cash equivalent - £ 605 Each month during this period I paid £ 90.82 (12 x 90.82 = 1089.84) The tax…
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Registering for a tax return
I registered online for a tax return (I'm doing some private tutoring on top of a PAYE salary) about three weeks ago. So far I have received nothing, not even an email acknowledgment, from HMRC. Is this normal or has something got lost in the system and do I need to apply again? Thank you
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Reducing Payment on Account and tax form help
Hi, Hopefully someone will be able to help me. I am getting a little confused on my January 2012 tax return and payment on account amounts already made. I am filling out my tax return My Earning for 2010-2011 were £34,041 with a profit of £33,066 In January 2011 I paid on account £1462.97 and also the same in July 2011 -…
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Any experience with e-ccountant?
I am looking for an accountant for my newly formed Ltd company. I came across [FONT="]e-ccountant.co.uk[/FONT][FONT="] who seem ok so far. Does anybody know them or use them? I would also appreciate any recommendations for similar online accountancy firms. Thanks in advance. [/FONT]
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better off ?
hi looking for a bit of advice for my daughter ,she works 2 jobs at moment totaling 38 hours a week at adult min wage £608 an hour but spends over £10 a week travelling to second job ,she gets taxed on her 2nd job about £55 p/m . She has now been guaranteed 32hrs at first job which is a loss of 6 hrs a week on wot she does…
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Mum paying tax when income is under the allowance. Advice?
If it's all correct, then there's no problem, if the following is incorrect then she'll need to know what to do. My mum is out of work due to disability. She has 2 benefits which is her only income * Incapacity benefit * Disability living allowance She's a non tax payer & only the other day she applied for an AA savings…
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More disaster strikes the top of HMRC!
Just when you think it can't get much worse, it does. Good news that Dave Hartnett is going, he is utterly discredited. If he turns up on the board of Vodafone, Goldman Sachs or similar as a non-exec director I for one will not be surprised. Lin Homer is poorly regarded in Birmingham, appears to be one of those for whom…
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Tax on Critical Illness Payout?
If I receive a payout to cover critical illness, do I need to let HMRC know as it is exempt from tax? Many thanks
