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Capital Gains Tax
Hi everyone, iv got shares which i sold for a profit £100 profit. i have started my own business Im am self-employed first year, expecting to make around 2- 6grand profit this year hopefully. anyway, i bought some shares two months ago and sold them yesterday for a profit of £100. Will i have to pay any Capital gains tax.…
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Is there any advantage to putting a house
in trust for your child? and how does it work exactly. i thought it woudl be good for them whn they are older.
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Carry back Gift Aid donation to retain full personal allowance
Hi all Hoping you can help me Just about to complete my tax return online for 11/12 Adding all the numbers up, my total income less personal pension contributions grossed up for basic rate tax is just over £100k On this basis I will go into the marginal 60% rate band where I loose £1 personal allowance for every £2 income…
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GMB Union - Tax Refund
I am currently a GMB Union Member where I have been for the last 11 years Today I have received a letter from them stating to fill in a form to see if I am owed a tax refund. The letter states that if I am owed a refund I will keep 60p of every 1 pound refunded. With no terms and conditions stated is the other 40p going to…
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Deleted
Deleted wrong forum sorry.
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Redundancy Payments
Where I work they pay a generous pay off package in the event of redundancy. Thus if I was to be selected I would be paid £48,000 approx. So I presume the following :- £30,000 would be tax free and the remaining £18,000 would be liable to 40% TAX and NI. Thus would my final salary payment (monthly) be My Net Salary +…
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HMRC nightmare tax underpayment
Can anyone help me with this as it is proving a nightmare. Last year HMRC told me I had underpaid tax - they had messed up the tax codes. It was agreed I would repay back through PAYE over 2 years (about 1K). Now I have had to file self assessment forms as for financial reasons I am now renting out my flat. HMRC then…
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Unpaid Tax advised as owing 12 months after retirement!
Help Please! I retired from my work in July 2011 at the age of 68. At this time I requested and completed a tax return as I anticipated a refund in respect of tax overpaid in that current year. In response HMRC advised that I had underpaid tax to the sum of £3,513.42. The letter relating to this was received on the 5th…
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Council totally messed up our council tax - help!
Hi! Please can anyone advise. I'm in a panic because I've just received our council tax bill for the whole year. Basically we called Camden Council the week we moved in to this rented flat (back in May this year), to switch our direct debits over to our new flat. They had no listing for our flat, and insisted there were…
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issues with declaring second income
Hello, I'm new to this forum. Hope I'm posting this at the right place... I'm employed full time in the UK. I've been doing some part-time work for a company based in another country...and now I seem to be in trouble as I wasn't aware that I should declare my extra income... The income from my second job is from a foreign…
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claiming uniform tax 'cost' me 10K!!
for everyone raving about the uniform tax rebate........ i was at uni from 99-02 and racked up £10k worth of student debt with RBS on booze, clapped out cars and holidays. i was working throughout and in part time empoyment untill april 05 when i got a government job. after all this time id completely forgot about the…
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Underpayment of Tax in SA
I am just filling out my first SA for 2011-12, during this year I was both employed and self employed. I have entered all the figures and come up with the figures which all make sense. There one thing that is confusing me is I underpaid tax on 2011-12 which appear on my 2012-13 coding notice, I have entered this in the SA…
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Inheritance Tax on French second home
Hi folks Hopefully, I've picked the right forum? I am after some advice on inheritance tax regarding a property owned abroad. My parents own a second home in France (value circa £300k) and a house in England (circa £650k). My father is very ill and my mother is keen they do the right thing with their French property to…
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basic tax return question for Driving instructor
Hi all, I am a self employed Driving Instructor ( started this June ) I bought a car for £14000 for this purpose , and as I fitted dual controls I believe this car is now classed as "Plant and Machinery", I "borrowed" the money from my personal flexible mortgage @ 3.9 % interest rate" (as I didn't want the regular leasing…
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stamp duty land tax on shared property
A and B want to buy a flat for £369k as tenants-in-common, A to own one third, B two thirds. I understand that they have to pay 3% stamp duty. Later A wants to buy half of B's share. A valuation says that B's whole share is still worth £246k, so that buying half of it would cost A £123k. Is there SDLT to pay? Similarly if…
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mileage tax allowance
Hi I wonder if anyone can help me with a tax question I'm not sure if I have posted this in the right place, I am new to this site I am a Self Employed Domestic Cleaner I have 5 different customers houses I clean every week ( different house each day) I do this every week, ( its just a little round I built up ) my question…
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Self Employed consultant expenses???
Good morning all, I have reposted this under a more suitable heading in the hope of gaining some expert answers. I am working for a German company, I work from home for three weeks of every month and I travel overseas for the remainder. I innitially went onto a Direct National Insurance scheme but I am now looking to…
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Capital Gains Tax question
Hi guys I have been reading on the HMRC site about capital gains tax but cannot seem to get an answer to the following: Me and my father bought a house on a joint mortgage a few years ago in which we now both live. He has decided to put his previous house up for sale that he lived in prior to living in the new (mortgaged)…
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Inheritance tax query
My elderly father is in his eighties and my mother passed away some fifteen years ago. Does anyone know if my fathers inheritance tax allowance is 325k or 650k as a widower?
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Self Employed Driver
Hello, I have recently started driving on an ad-hoc basis for a few different coach and truck companies. I am wondering about a few things regarding being self employed while doing ad-hoc work. Firstly traveling between companies - what can I claim regards fuel/insurance/car finance repayments. Some of the distance…
