-
P..A.Y.E underpayment.
hello, received a letter a while ago saying i had under paid my tax and it would be stopped from this years wages,how did this happen ,and will my tax automatically revert to right amount next tax year thanks.
-
tax rebate for tools
.....................................
-
Anyone had a letter from HMRC yet about Child Benefit Tax?
Hi As per thread title has anyone had a letter from HMRC yet about Child Benefit Tax? Seem to remember they were supposed to go out at end of October. There was a small flurry of articles in the media then. 1 Jan 2013 only 7 weeks away and still not had any communication. Cheers Wacca
-
Self employed - What can I claim
Hi There, This is my first year as a freelancer and I'm trying to do my tax return. I was wondering if there's a list of things that I can claim against my taxes? A friend said to me that I can hire my car to myself (I mostly use it for work). Is that correct? I was also told that I can hire my personal equipment that I…
-
Claiming Tax back from Australia... 2 years on
Hey friends. I did some work out in Australia in 2009 for several months, and paid around 1000 dollars in tax. I know I am entitled to claim back some if not all of this. I have downloaded the online application from the ATO but it seems to be looking for that years figures only. Is it possible to claim this tax back two…
-
Gifts "exactly" what are they?
The allowance for gift tax means that one person can give away up to £3k PA to whomever they want without paying gift tax , as I understand it. My question is what exactly constitutes a gift? ie..... my mum gives me £3k in April. Does that mean that she cant buy birthday or christmas presents for any of her grandchildren…
-
Own Car mileage tax perk. Fact?
Hi, Another work colleague of mine said tht I could claim tax back on the following scenarios - I just don know how or why: I had my own car and did 9500 miles and got paid 45p per mile in the tax year. He said he claims appx this on a tax form and gets a small amout back. He also stated that where I am using my own car…
-
Company Car Claim Mileage tax help
Hi, Busy topic but havent found a true answer. (?) I have a Company Car. I get paid 15 pence per mile. I dont pay the higher rate in tax. I have done 7,000 miles last FY and 7000 this FY. A colleague has just claimed back £8500 for 5 years worth of mileage stating : Its the difference on the 15p we get from the company…
-
Gift above IHT threshold
Question: if I want to send a gift to my sister who lives in the netherlands and the gift is above the IHT threshold are there any tax implications? I expect to live for more than 7 years since I'm in my early thirties.
-
Self Assessment - CGT Pages
Hi, I currently have a SAYE Sharesave scheme via work where shares were held for 3 years then sold in March 2012. The gain was less than the CGT allowance, so do you need to mention them on the Self Assessment forms ? or just keep a record of them. Thanks in advance :)
-
Inheritance tax and charitble donations
I'm aware the law changed this year, and that if you give 10% of your net Estate to charity, the IT rate on the remainder is reduced from 40% to 36% http://www.hmrc.gov.uk/inheritancetax/pass-money-property/charity-reduce.htm So how can I achieve this? If I calculate the value of my estate at the time I write my will (say…
-
IHT query about gifts with benefits
If a parent gifts two thirds of his home to his adult children (i.e. afterwards he owns 1/3, child 1 owns 1/3 and child 2 owns 1/3) but continues to live it in I understand that the 2/3 he has given away is a gift with reservation and is subject to inheritance tax (IHT) unless he pays a fair market rent to the children. Is…
-
Tax Return - Unable to pay
Hi All, Last April I went self employed and remained that way for around 12 months, at which point I lost a contract that was a good 95% of my income. That being said, I then spent 2-3 months trying to find additional self employed work and ultimately had to make the decision to go back to employed work. Now I have been…
-
Mechanic tools Tax refund
Hi, I received the paperwork at work about this today, seemingly you can claim the tax back on tools bought to do your job. I've been a mechanic since April 2011. Since then i have spent £2770.06 on tools :eek: I would like to claim this back, however i have a concern. I was unemployed for two years prior to 2011 i went…
-
Tax return on a 2nd mortgage. How long will it take?
Hi all My fiance and I have just had an offer excepted on a flat. We've got two Agreements in principle for a mortgage. For various different reasons, we haven't got lots of options when is comes to mortgages at the moment. HSBC have offered us one at 4.99 % which is nearly 1% less than the offer from Virgin. The only…
-
Council Tax houseshare dispute
I've been living in a shared house for 3 years, my previous housemate was in charge of paying the bills and then when he moved out they were transferred to me. Before he left we cleared up the final months bills and I paid my share to him. I've now received an email from my council claiming that I am liable for arrears as…
-
Self-Employed Newbie
I'm writing this on behalf of my girlfriend who recently graduated from Uni and has just recently started self-employed as a journalist at a newspaper. This is the first time she has worked self-employed and it's something I've never done and am struggling a little to get my head around what she has to do and what she can…
-
Will i pay lots of tax
I have a short term contract which ends in 4 weeks time. I have 9 days holiday entitlement which equates to 3 weeks work. If i work the 4 weeks and keep the holidays until the end of the contract will i be penalised by the tax man and have to pay lots of tax on my final wage.
-
Tax on Microgeneration Income
Hi, Can anyone advise how to split income from microgeneration on an jointly-owned investment property? Is it .... (a) treated as property income and split in the same proportions as rental income for that property, or (b) treated as individual income of the person named on the FIT contract?
-
Mileage Allowance
Hello Bit of help please, concerning tax year 11/12, my wife and I have no experience of self employment. My wife worked with a friend during this tax year, both were self employed domestic cleaners. My wife doesn't drive, the other lady did. My wife was therefore a passenger in her friend's car and paid her £10 per week,…
