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HMRC wants to tax me 20% VAT on my gold bullion purchase from USA
Today I was given an absolutely horrible news. A guy from Fedex rang me to say that I have to pay many hundreds of pounds in VAT on my parcel from the USA. This parcel contains all my savings I had in a Euro account abroad, which I decided to convert into bullion and send it over to Britain since I'm now living here. The…
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VAT registration and deregistration
Hi, could anyone shed some light on this please: What would happen if I registered for VAT and bought goods without paying VAT on them, but didn't sell the goods that year. Next year I cancelled my VAT registration and then sold the goods I bought earlier. What would happen to the goods ? would I sell them without charging…
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Uk domiciled and tax on rental income in republic of ireland
Hello I recently found out that foreign rental income has to be declared on self assessment forms in the Uk (I've been here 9 years and i'm a higher rate PAYE taxpayer). My brother and me have a jointly owned property in Ireland which my brother pays tax on annually (he's lived in Germany for 15 years). The rent is paid…
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Council Tax Court summons
Hello everyone. I have been reading some interesting threads on here. I will be very happy if someone could advise me on this. Please CIS I will appreciate if you can contribute. In September this year I received a council tax bills from September 2006 to September 2009. I have rung them explaining it was a shared…
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Parent Loan or Gift to Repay Mortgage
My mother is about to receive cash through selling her home and buying a smaller property. She has suggested paying off my mortgage with the monies. However I want to repay her something so her income is maintained, even if she has transferred part of her capital to me. If I pay her interest (at a better rate than if she…
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Doctor doing extra work for the same hospital
I would be very grateful for some insight to this issue. I am working as a hospital consultant- 12 sessions during a working week and additional oncall. Due to the long waiting lists for patients to be seen and operated, I was asked to do some extra sessions called Waiting List Initiative sessions some time back. This work…
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Death and Income Tax
My sister in law's husband recently died leaving an unpaid income tax debt. The only asset he had was his car (worth less than £1K) and he has left my SIL with joint debts of over £30K with no insurance policies and no money for the funeral (and the car was bought using money from one of these debts). She is presently…
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Tax calculation
Are HMRC very late in sending out the tax calculations this year? OH submitted his SA return (paper) in late July but has heard nothing since. I think he has usually heard from them by this time in previous years. I have calculated how much he is due to pay, so it won't be a shock, just a bit worrying that he has head…
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HMRC Claim I've under paid
Hi, I woke up this morning to the pleasant arrival of a my P800 Tax calculations this morning. HMRC claim that I have under paid 2009-10 by £782. They've also sent a further calculation through for 2010-11, which adds a further £62 bringing my total underpayment to £844. Looking at the 2009-10 calculation, they have my car…
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Tax question
All, I'm daft when it comes to tax issues. Allow me to run this by you. I resigned from my last job, last day March 31st 2011 (long story). I have just started a new job on the 21st of November in which I got paid on the 30th of November. The tax code is 747L. Am I right in saying that as the tax year started in April,…
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Unexpected tax demand
Received a letter yesterday form HMRC containing three seperate tax calculations for 2007/8, 2006/7 and 2005/6 The later two show an underpayment of around £180 and an overpayment of a similar figure so they cancel each other out. However the BIG shock was an underpayment of almost £3000 for the year 2005/6. The…
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Second income(s) - newbie advice please
I've been working full time for the same employer for the last ten years, tax has always been pretty straight forward and needed little intevention on my part. For several years I went into the 40% bracket, but this year dropped out, due to bonuses drying up. :( In the past I've claimed back tax relief on my pension…
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received this letter from HMRC
letter titled Most employees pay the right amount of tax. Do you? Is this just a normal letter sent by HMRC? I already told them about my interest for last year and they have my PAYE details from both employer. Anything else I should be doing for this letter? Bear in mind the letter was dated 19 Nov and I was sent a letter…
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National Insurance payments Class 4
Quick (hopefully!!) question. I am employed and have my National Insurance contributions taken out at source. Last year i started up a small business as 'self employed' and got an exemption certificate from National Insurance on those earnings because it was less that the £5000 approx limit - all this went through fine,…
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Personal guarantee loan repayments....are they tax deductible?
Forgive me if this is a silly question, and I will ty and keep it brief. Four years ago had a company that went in to liquidation. Had a personal guarantee with the bank for 30k.At the time of the liquidation I owed about 10k, I was pursued for this and came to an arrangement to repay back in installments which I am till…
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tax rebate for cleaning uniform
I have recently had some success from reclaiming tax from the last 6 years via a company who through a UNITE leaflet which they recommended. I am just waiting for the payment. They take a cut of what they get back which I did nt mind as it was a no win no fee deal and I did not think I was entitled to a rebate but I was…
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Capital gains / Self assessment help needed
Hi Guys, Myself and my partner made a capital gain on a property last year and have both registered for self assessment. To cut a long story short, we purchased a property which was sat on land we already owned. We sold it about 7 months later as a freehold property and made a gain of around £40k We are not married and…
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Is a gift to a member of our social club taxable?
I am treasurer of a small social club with a healthy balance of £5500. We have had this balance for many years and it is likely we will be moved from our premise in about a years time and the club fold. Our subscriptions basically meet our running costs and this has been the case for years. Can I simply gift £200 to the 25…
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Council Tax - Direct Debit - Bank Changes
Why do many councils screw up when they are informed of a change to the Council Tax Direct Debit Bank Details. RBS are in the process of informing organisations of the new Sort Code and Account Number of my bank account after they transferred it to my chosen Scottish Branch. I believe that RBS send the council an ADDACS…
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Rail Season Ticket Loan Over £5000
Hi All, I am about to start a role which requires a rail season ticket loan of £5588 per annum. As I understand it any employer loan over £5k becomes taxable. I am a 40% tax payer however assume i wouldnt pay 40% of £5588 as tax? I would think the value of the benefit to be taken off of my tax code is the value of the…
