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Help Self-Declaring some side earnings
Hi, I'd like to know about self-declaring an income in the 2011-12 year, and what I need to pay. I am employed full-time and pay usual tax and NI contributions through this (the company deal with all this so I never have to fill anything in). I pay at the higher tax bracket. I began doing some work for a friend writing…
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when do i have to do my tax return by and can i claim this
Hi guys I registered s/e sept 2011, occured lots of training expenses before that and equipment purchases can I claim these ?? Also confused over the dates I need to do them by is it before the end of september (today :o )or jan 31st and when if by post or online and when do i pay the tax/ if any ?? thanks this is all new…
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Employed or self -employed ?
I operate a seasonal business and want to employ my son for 13 weeks, its a commision based business , so i want to pay him £300 week plus a bonus at the end, how is the best way to do this, i either have to register paye or ask him to go self employed, as its for such a short time ,not sure what is the best way for both…
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Vat Flat Rate Scheme - Quick Question
I'm on the flat rate scheme, first year so currently the rate is 6.5%. I know I pay vat on my UK sales, but do I also pay vat on EU sales? And what about sales outside the EU?
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self employed door supervisor tax
hi all i have recently had to go self employed in my second job after a change of contractor at my venue. i have never been self employed and was wondering what sorts of things i should be keeping receipts for , tax deductibles etc paying NI etc i am employed in my main job and pay tax and NI in the usual way:question: any…
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tax refund dilemma
Hi all, Just wondering what your thoughts were on a situation that has arisen with a friend of mine who goes into our local social club. We have discussed it round the bar, and everyone seems to have different ideas. Here's the situation. This friend was with an employer for about 5 years, and then left to join another…
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Running a Business From Home - Tax Advice
Hello Money Savers!! I am hoping to start running a small business from a spare room at home - buying a relatively specialist product wholesale and then repackaging and deliving to the door by post. I hope to run this business in conjuction with my full time job. I am not planning to make tens of thousands pa - but just a…
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Declaring income from survey sites?
I'm new here, so sorry if this is in the wrong forum, but I have looked and this seems to be the best place for this. I was thinking about trying survey sites to get a little extra money, but I have been told you need to declare it or something. So do you need to declare it and how do you do it? Walk me through it please.…
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Tax & Multiple Jobs?
I currently have two jobs. They are both only a few hours a week and I don't have to pay tax on them as I was under the limit for my personal allowance. I am starting a third job next week and it will be full time. I understand I will pay tax on the third job but what I'm wondering is; Will I have to start paying tax on my…
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Tax confusion - Company Car - HELP!!!
I am 3 months into a new job as a Sales Manager with a VC-backed business. My role requires a car and the business have offered me a fully expensed vehicle of my choice (within reason). However as a young VC business they don't yet show 2 years of completed accounts and as such cannot obtain finance through someone like…
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Over taxed
My 20 year old daughter started a part time retail job in June. She is contracted to work 16 hours a week for £6.70 an hour. She is also doing a local college course, and fitting work around her course. Anyway for the past 3 months she has been put on emergency tax, and this month was the first month she didn't get taxed…
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Underpayment bill
My husband has just had a tax bill for £600 as they say he underpaid tax in 2010-2011. They said they will take it back monthly in next years tax from his company pension. He has a state pension I don't know if he pays tax on it. He has 2 company pensions that he pays tax on at 20% During 2010-2011 he worked 10 hrs a week…
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Cost for Small Business Accounting
Hi I am considering starting a limited company and I have an accountant who has quoted me for services. I was wondering if someone could let me know if this sounds like a reasonable cost? £974 per annum (He is not VAT registered) He said this should include everything as far as accountancy is concerned. Includes preparing:…
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How much will I be expected to pay?
Ahoy all, I'm currently registered as self employed and obviously have the upcoming deadline in Jan to worry about. I registered as self employed at the end of March in 2011, meaning that I only had to file 2 weeks worth of tax in Jan of this year - fair enough. Something I'm confused about is how much will I be expected…
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Expenses - finally alloweable, but not backdated
Hi, I've been working under an umbrella company (Brooksons) as a contractor for nigh on 3 years now. I went back through my paperwork recently and found two things: 1) several months of unclaimed expenses in 2009/10 2) after changing roles to working at a single site in March 2011, I finally found out that it should be…
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Tax Calculation
Sorry to ask such a general question, but maybe someone cleverer than I can help me work this out. I don't earn a flat amount each month, ever. I get bonuses virtually every month to varying amounts, sometimes it has been five figures in one month. What this means of course is on that particular month, let's say for…
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Need advice- haven't been taxed!
I was self employed between april and september this year. i ended my self employment when I started back in a full time employed job on 3rd Sept. I received my first months pay yesterday and I haven't been taxed on my earnings. My basic pay is £26,544 plus unsocial hours and mileage. Obviously I won't earn £26k for the…
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Benefit in kind - nasty suprise from previous employment
Hi I've had a letter through from the tax man funnily enough asking for more. They reckon I had a benefit in kind at my last employment that should of been taxed - the only thing I can think off was health insurance, which annouyingly I never used or asked for, but I get the tax man is not concerned with that, only that I…
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Top Slicing Foreign Income & Student Loan Repayment
Hi, I've completed my self assessment (online) tax return to around 90% with a few minor details to finish off. I have a fairly large gain from a foreign policy/bond I inherited which is treated as income rather than capital gains. This is eligible for top slicing and this calculation is complete and correct on my return.…
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Tax advice, building/selfbuild
Hi all. After some tax advice on a upcoming project. I could do with speaking to an accountant who is well versed in the self build and construction industry's. What's my best port of call?
