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Tax underpayment - 40% interest
Hi, I have been a 40% band taxpayer for 5 years, although virtually all of my income is simple employment income and taxed by PAYE, so I have never had to do a tax return (and I don't think I have ever been required to do one looking at HMRC's criteria). I say virtually all - I have had a fair bit of savings earning…
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Did I overpay on income tax?
Hi, I'm not very good at this whole tax thing, so apologies if I'm being stupid but I was just wondering whether I have overpaid on my income tax for the tax year 2011-2012. I started a job at the beginning of Dec 2011. I earn £16,000 per annum, but obviously as I started this job part way though the year I didn't earn…
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How to work out the tax i should have paid
Hi, im having to pay back tax that was underpaid. In 2010 to 2011 i was earning £32.5k with company car for 5 months using tax code 647L M1 and then for 3 months i was on 747L for year 2011 to 2012. I was in total at this job 8 months. I'am wondering if i will also having to pay underpaid tax pay for this period also? Also…
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Fuel card but not company car
Any help appreciated.. I have recently got a new job. As part of my package I have a £6000 Car allowance and also a fuel card which can be used for business and personal miles. I assume I just buy whatever car I fancy and the £6000 will be added to my top line salary each month and taxed at my marginal tax rate. However I…
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Part time work, should i pay tax?
My daughter has finished school, age 16 and is going to college in September. she has managed to get a part time job with Next working upto 20 hrs a week. She has just received her first pay slip and has paid tax, is this correct??
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Exam refund?
Hi, I dont know if this applies as an employee ( but not work related ). Im about to sit an IT exam. £191 + VAT. My company sees training as a cost it would rather ignore ( funny how it never said this on the interview, promises, promises etc ) So I was going to pay for this myself to help my career ( read.....Im not…
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Application of tax code
Can't get my head around on whether it could actually happen in reality, but what should payroll do if they receive a tax code that would result in negative net pay for the employee?
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Import Duty, etc. on USD gift cards
sorry if this is the wrong place, just couldn't find another forum that was a better fit and struggling to find the answer anywhere. Does anyone know, if someone posts me some USD gift cards from the US, is there any duty, VAT, tax of any sort to pay on receipt in the UK? Since I cannot use the gift cards in the UK, only…
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Vat Reclaim Newbuild (bit of CGT too)
Hi all, question answered
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Bad debt for Consultancy Work
I have been working as a consultant (self-employed) for a company which has recently gone into administration and will be liquidated in early August. I believe that it is very doubtful that I will receive any payment for the work that I carried out. What steps can/should I take in relation to the debt so as to reduce my…
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will this work/allow? (reduce NI)
please stop me when im wrong 1) NI calcaute weekly 2) As im paid monthly, the allowance will times 4 3) if i do any overtime, it will b the total pay minus the allowance then 12% 4) So if i didnt summit(all) the overtime in, ie instead of summit 60 hours this month, i just summit 30 hours, and summit the other 30 hours…
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trying to complete form R27
I am completing the HMR form R27 (reclaiming tax or paying tax when somebody dies) In box 19, it asks for amount of state pension from 6 April up to death, my question, can I add together a state pension, pre 97 additional State pension, also known as second pension and a graduated retirement benefit alltogether for box…
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Private Medical Insurance - Taxable Benefit?
Hi, I joined a new company 8 months ago and I just joined the AXA PPP scheme for my family. The HR department is not the best and I could not understand fully how it works. I have the feeling that it is a taxable benefit. Apparently, it is costing 135GBP to the company per month. Since I am a higher tax payer, I am correct…
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Underpaid Tax on Redundancy Package
Hi, My father was recently contacted by HMRC about a fairly large underpayment of income tax (roughly £8000) for the tax year 2009/2010. This was due to him receiving a redundancy package on leaving employment which he should have paid the higher rate of tax at the time. My father was unemployed for a while after that and…
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Council Tax Refund
Afternoon All, On the advice of this site i have appealled to have my council tax rebanded and SUCESS! they have reduced it from D to E. I had hoped to get a refund for the "overpayments" i've made since i've lived here (About 2 years) but it isn't mentioned in the letter from the VOA. Do i need to apply for it somewhere…
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NI Contributions - Sorry if wrong section
Couldn't find the best place to ask this question. I've just been checking my NI, Tax and Student Loans on my P60s for the past 5 years with some online calculators and something has come up which I have just brought up with my employer. Basically these calculators take into account the Student Loan, Tax Code, everything.…
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SA Issues
I registered for Self Assessment - because I was fed up to the back teeth with HMRC getting my tax wrong (they sent me 20 different tax codes last tax year - which were all incorrect) Anyway - I am trying to fill in my on-line return and have hit several problems 1. Why, when I enter my income from investments - does the…
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Claiming Car Lease Tax back
Hey guys, I'm going to start working as a GP Locum from 1st August 2012. I'll be self employed and I'll be comfortably in the 40% tax bracket by a long way as I plan to work my socks off over the next year or so. Now, I would like to lease a new car at about £800/mo for work purposes. I've been trying to do research on the…
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Employer paid wrong redundancy amount
Hi HMRC has just written to me querying my redundancy payment vs what my ex employer paid back in June-September 2009 and going through my bank payments I think my ex employer underpaid me: Questions are: I received a P45 and a payslip capturing all the various payments but the employer missed of my PILON payment of £31k.…
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P800 Quick Question...
Hi all, I've rec'd two P800s today, one for 06/07 and one for 08/09, I am just wondering why just those two years? What about 07/08 and any later? Will they send me any others? How do they pick the years? Thanks in advance. Chloe x
