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help: new to self employment
Hey, This January i'll need to fill in my tax return. Im a freelance designer with accounts that aren't too complicated grossing 28k. i have a fair amount of travel expense which is split between train and car (and i also work from home). my bookkeeping is pretty though with monthly in's and outs recorded. I had planned on…
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Council failed to arrange council tax inspection
Due to some problems with trying to find a new place, and availability of our perfect rental property, we got the keys to our new property on 25th July, however we still had our old flat until 17th August. We decided we would move in on the 13th August. I called the council before we'd even signed the tenancy agreement, so…
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CGT on inherited house?
The plans are to move to from our joint owned house to a recenctly wifes inherited house (wifes parents). We wish to rent the origanal home and maybe sell in 10 years time. The taxoffice wants my wife to declare our primary home - should this be the new inherited home , and do we pay the CGT on the origional home when sold…
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Self Employed and small purchases
Hi All Just a quick question as I try to prepare self assessment. I am self employed with turnover less than £30k p.a. so no VAT to worry about. Some of my purchases are from eBay and the like and are less than £10.... Do I have to print off and keep the ebay/paypal receipt for these? Is there a discretionary material…
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Self assessment / tax return
Hi, I have a fairly new business and just need some advice on my tax return please. I have calculated that my gross income for the year ending April 2012 was £9496, which means I am £1391 above the personal allowance threshold of £8105. I think my actual outgoing expenses will be more than the £1391, especially as I…
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Help! Start new job TOMORROW - help needed asap re. tax codes
Hi, I'm a newbie here :hello: just after some quick advice re. tax codes: I started a job on Thursday (6 Sep), working for a local museum on a relief "as and when" basis - the hours are very varied - I can get several shifts a week or none at all, but its an awesome job and I love it. Today, I found out that I've got…
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MSE News: Charity calls for council tax reform
"Council tax bands should be adjusted so that those in higher-value homes pay proportionally more, says a charity ..." Read the full story: Charity calls for council tax reform
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Company directors
Is there a limit on the number of companies one person can be a director of,someone i know was a director of 7 companies but it is now 4 and is also a secretary of another company in the family.
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Did I pay the correct amount of PAYE tax last year?
So, after the heart attack inducing bill of £2,600 for underpaid PAYE tax for 2010-11, I want to check whether I paid the right amount of tax for the tax year 2011-12. Just to avoid a similar situation a year from now. Really simple case:* Tax code 744L throughout the tax year in question. * Sole source of income - one…
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CGT on inherited property
I have posted elsewhere regarding an IHT query. I repeat the background below. "I am in need of some quick advice. My mother passed away some years ago and left everything in her will to my father. The only exception was some small gifts to registered charities. My father has now been diagnosed with a terminal illness and…
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Mobile phone/ P11D
Hi all, Looking for some advice regarding expenses and benefits in kind. I was part way through a personal mobile phone contract when I joined my current employer as I a) needed a phone for work and b) other employees were provided phones, my employer agreed to reimburse the monthly cost rather than supply a second…
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Tax Overpayment reclaim question
I have been assisting a friend with his tax affairs. It turns out over the past six years, since becoming a higher rate tax payer, he has not been reclaiming higher rate marginal relief on his Personal Pension, which only recouped tax at basic rate. This tax overpayment could amount to over £1000. He is of course PAYE -…
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confusion regarding payment on account.
Hey guys, Let me just start by saying I believe I am a fairly intellegent person but ask me about payments on account and I will literally cry! here's the situation, I'm currently just self employed and will be until the end of the tax year, as of mid april next year I will be employed full time and self employed too. By…
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Another P800 tale of woe
Hello all - asking for a little help here. A number of us at work have recently received p800's stating that we have underpaid tax - anywhere between £900-£1100 for the 2011/2012 tax year. I'm clueless when it comes to tax, but the p800 states that 'The amount of Medical expenses benefit included in your PAYE code was…
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Import Tax on my own used clothes?
I recently travelled between countries and posted a box of things to myself in the UK. It`s shown up and they are asking for £50 in import VAT and clearance. The box only has my old clothes in it! The only catch is, under the direction of the post office at the other end, I wrote the original value of all the clothes.…
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Urgent - save a19
Thought your tax affairs were in order? Then found out that they weren't? Ever owed money to the taxman because of HIS fault not yours? There is a get out of jail free card in this situation. It is called "Extra Statutory Concession" number A19. It's mentioned often in this forum. Currently the ESC A19 is available where…
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PAYE Tax issue, underpayment on tax.
Hi This has been going on for some time and I cannot seem to get a resoloution. I will try to stick to the pertinent points and hope that somebody can maybe offer me some advice as to what I can do. Back in March 2012 I called the HM Revenue and customs helpline to lodge a claim for "flat rate expense" for washing my work…
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What is "Capital expenditure"?
Hi. Can someone tell me the difference and give an example of what Capital expenditure is compared to Business expenditure. Im looking at HMRC's explanation and Im still unclear. Would a laptop - for example be a Capital expenditure? Thanks
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Work PT & Start up my Own business PT
I am currently employed part time and they pay my tax and NI through PAYE, however to supplement this I am starting up my own therapist business which will also be part time. How will it work in regards to my tax and NI going forward. And who do I need to alert to my change in status at the HMRC. All advice greatfully…
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Help please, finishing self employment and payments on account
Hi everyone, I was self-employed for the last 3 years (ended June this year). I am just filling in my 2011-12 tax return and wondered if someone can help me with how to work out how to reduce my payments on account for next year now that I am employed rather than self-employed? Thanks
