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class 4 ni contributuins multiple businesses
Hi I'm hoping someone can help. I've just filled in my husband's self assessment online for 2010-11 (not submitted yet), and am confused by the calculation it has giving for the national insurance. He had 3 businesses during the year, 2 of which made a profit and one of which made a loss (ripped off by someone :mad: ). In…
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Tax man got it wrong
About 3 weeks ago I rec'd out of the blue a letter from tax man saying I owed them what appeared to be a lot of money. As tax is deducted at source by my pension provider I took a look at the forms provided by them detailing pension and tax deducted. What the tax man wanted was exactly double that which was deducted in…
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Overpaid tax refund
I've received a letter from HM Revenue & Customs saying I am due a repayment of around £400 for the tax year 2006-2007. But I think they have got this wrong, as the letter states it was due to a period of unemployment, I was not unemployed at all in this tax year, but I did change jobs in December 2006. I have compared the…
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Keeping tax papers after death
(Apologies if this is the wrong forum but I can't see where this question best fits.) My father died six months' ago and we've now finished sorting out his affairs, getting probate, filled in the R27 form etc. My mother wants to tidy the house and get rid of all his old paperwork, such as bank statements and P60s, whereas…
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tax rebate
hi heard loads of people are recieving tax rebates if your are still in the same employment as you have been for ever will rebate go on to your wages or will you receive a cheque in the post some people are receiving cheques but i gather these people are ones that no longer work so wondered if i was entitled to a tax…
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capital gains tax on property
I own a one third share in my parents house but I have not lived there for 20 years and although my parents are still alive they are now very old. How can I avoid paying capital gains tax if we need to sell the property?
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Employee business mileage - 'notional home to work' mileage
I am an employee and my employer recently revised its travel and subsistence scheme. This has introduced the idea of ‘notional Home to Work deduction.’ which the scheme it replaced did not have. Here is an extract:-“If it is practical to do so (such as at the beginning of the working day), individuals should begin journeys…
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Share losses against tax
Hi, I know that you can put share losses against tax if the company the shares are in has become of negligible value. Can you also put a loss against tax if you sold the shares at a loss but the company is still trading? Many thanks T
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Capital Gains Tax on property
Hi If you have a lot of equity in the house you reside in and decide to rent it out and buy another property to live in - for Capital Gains Tax would they define "gain" from the date I rented the original house out (ie the value of the house when I rent it out) or the value of the house when I bought it? thanks
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Letting property, income tax
Hi am considering letting house in January. I have read that you can claim tax relief on income tax for repairs to a property. Spent a few thousand on roof repairs in July. Is it possible to claim tax relief on this even though repairs were made before the property is let out. Thanks
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Allowable travel expenses
I have a job, but I also take one day a week and random days in lieu to be self employed (not VAT registered). I do a lot of traveling to antique fairs and selling / shopping trips to other dealers on these days off and weekends. In fact, my time out of work is dedicated to my own business. In 2010 / 11 I bought a…
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20k income, how much income/ni do I pay for 10-11?
Hi. From April 2010 to April 2011 my income was £20,000 based entirely off of contractor work (I work as a for-hire remote systems administrator, computer stuff). I am registered as self employed. From what I understand from this £20,000 I take off the £6475 allowance which leaves me with £13525 taxable. I only started…
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cash lump sum - capital gains tax query.
My father has just received a substantial sum from an inheritance. He does not want to keep it in a bank. I have managed to persuede not to "keep it under the mattress", instead I will be looking after it in one of my spare accounts - signing paperwork that says I am merely safeguarding it for him and that I will not touch…
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Small income earned from writing - do I need to declare it?
I am a full-time employee earning £38K per annum. I do not fill out a tax return as all of my income/ taxation is related to my main job. Recently I have had a short story published for which I earned the princely sum of £25. :D I will also be due royalties however these are likely to be very small sums and I have not…
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Can He Claim the VAT Back?
Hi, My 18 year old son is still at a sixth form college. He is studying Business, ICT and Travel. All three courses are very much based on coursework and home study, making a computer a necessity. His computer has broken so he is buying a new one through the Sony Education site. The question is can he claim back the VAT on…
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Missed one council tax payment and now slapped with £110 in charges
I pay council tax from a joint account I have with my partner and we normally deposit a set amount of money each month for the bills. One month we deposited less than we needed/spent more than we thought and there wasn't enough money in the account to cover the council tax. I realised on the day it went out and went to the…
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unclaimed capital aloowance
A few years ago 08/09 when starting up I accidentally put my van through as an expense as opposed to claiming it as capital allowance. I notcied this when looking through my documentation last week Is it too late to put in a claim for this. A quick read on hmrc site says i should apply in writing if more than 12 months old
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"Where is your tax office?"
I am sitting here looking at a form with a box marked: HM Revenue & Customs Tax Office? Reference in that office or National Insurance Number? I think the correct answer now is "In a computer at a secret location with a 24 hour back-up at another secret location" ? (*) I have received a SA tax return from Cardiff CF14 8HR.…
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Can you recommend a really good accountant for domicile and remittance issues?
I spent all day yesterday getting to Central London just to speak to my accountant and find out he needs more time to review what I showed him ... I mean he wasn't aware of the entire concept by heart, so I'm not upset or anything but just want to speak to someone who is an expert and does know all rules by heart or had an…
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Doing my Will and thinking about Trusts...
Hi, Please excuse me if this post is a bit all over the place, I've been trawling the internet for hours trying to understand a bit more about trusts when it comes to wills. Girlfriend and I live togethor and have had a son, 12 weeks now and I want to get the wills sorted. It was suggested to me that any life insurance…
