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Mileage -v- company car allowance
Just a query, for those that are more knowledgeable than me (so probably most people) A while ago I used to have a "flexible benefits loading" rather than any fixed benefits. It was a bit of a misnomer because you didnt have to spend any of it on benefits and could take the loading as additional take home pay and just get…
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Payment for Untaken Holiday
Morning all, I finish work on voluntary redundancy at the end of the month due to the role relocating some 170 miles away. I have some holiday that I have not used and I agreed with my manager that in order to maximise my time in the office to get stuff wrapped up that I would take payment in lieu (they allow time out for…
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inheritance
It seems my FIL doesn't have much time left with us. MIL has told my husband that in FIL's will he is leaving everything to her. She will then split the money equally between herself, my husband and his siblings. FIL is fine with this, but he is unwilling to change his will. As my husbnad (and his siblings) are not in the…
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Tax!
Hi, this is my post after being a long time lurker. Well my problem is for April 2010 - April 2011 I paid 20 % tax on all my earnings (Which was under £1000 ) but I got the paid tax back at October 2011. From April 2011 - April 2012 I paid 274.20 tax which was also 20 % tax. Can I get this 274.20 tax back as I earned less…
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Check of self assessment letter
My partners mum has received a letter today from HMRC. It's not the easiest letter to understand but what I can make of it, they are checking her self assessment tax return from the year ending April 2011. She is retired and only receives a state pension. They have asked for a copy of information received showing HMRC are…
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Bonus & Pay Cut - Legal?
Greetings all, Apologies if this is in the wrong section. Would it be legal to take a bonus of £20k, and a pay cut of £5k for four years - effectively paying the bonus back over four years? Many thanks.
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tax refund 2005/06
Today, I received a self assessment statement. The bottom line is a tax refund from the year 05/06 regarding an overpayment. However, it less than £10 so no early Christmas for me :( The statement also refers to 06/07 (my last year of self assessment) but there is nothing owed or owing for that year. That year I received a…
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Massive capital gains tax - private residence relief case
My parents are concerned because they have been hit with a large tax bill relating to a house they had in London and recently sold. The house was inherited as a trust and provided as a residence for my parents from the early 80s. However my father worked in the racehorse business and his job had him living on racehorse…
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Stamp Duty - can I avoid?
I part own one third of a property gifted by deed to me by my father 15 years ago. He still lives in the property. My family and I now live in the property with him, having recently sold our previous house. I had agreed prior to moving in, to buy out my two sisters share (2/3) - we agreed a price which I fully intend to…
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Government Grant, Corporation Tax
Quick question. My small business received a small government grant (£500) towards an overseas trade visit. Is this treated as all other income when calculating corporation tax? (in which case it will really have only been a 400 quidish grant) Or is it exempt? Google is a fail for finding the answer.
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Seafarer - Norwegian tax
Hello I currently work on board a norwegian flagged vessel working in Norway. i am employed by an agency who are based in guernsey. I don't pay any tax in the UK as I am out if the country +183 days. The vessel I work on has just been awarded a two year contract working 100% in Norwegian waters. I work 28 days on 28 days…
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Tax bandings
If basic rate tax is earnings up to £34,370 and the personal allowance is £8,105, do you pay higher rate tax on anything over £34,370, or anything over £34,370 plus £8,105 = £42,475? Sorry if this is obvious!
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Uncashed Cheques - Tax Return
HI I am planning to submit my online tax return by Jan 31st. I've got a single uncashed cheque which I received as income - it is in dollars. I might not cash this cheque until next year, due to current exchange rates currently being unfavourable. How do I account for this uncashed cheque in my tax return? Do I simply not…
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2 jobs tax question!
Hello everyone. I have just recently got a new job working 35+ hours a week. However my current work have asked me to keep on a couple of hours with them (literally 3 or 4 a week) which I have agreed to. Can someone tell me whether this will affect the amount of tax i pay? Will I be charged at a normal rate for my new job,…
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Self assenment worries
Hi I am hoping somebody can help me as I am worrying about my self assesment :( A little background. I was on benefits up until March 21st this year when I became a self employed mobile nail tech so all this self assesment is new to me and I have no clue what to include I get housing benefit, council tax benefit, child…
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Do I need to complete a tax return?
For a short time I rented out my parking space. I informed the tax office. The rental only lasted a few months. Is there any allowance for additional income with tax returns? Many thanks
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Company Car Allowance - affect on tax paid?
Hi guys, just hopefully a quick question: I have a new job offer where I can either have a company car based on £330 a month allowance from a list, or have a cash allowance of £3.5k. I have decided to take the company car but was wondering if the basic salary remaining takes account of the company car payments made by the…
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Class 1 National Insurance contributions on expenses
HI We have our own limited company and have had to relocate for access to contracts etc leaving out eldest son at boarding school. I note from HMRC website that if the company pays for the fees directly although the contract is still between the employee and the school, then class 1 national insurance contributions are…
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Q about income figure when filling in Self Assessment form
I thought I'd asked this question before but I can't find it. I am retired and have State Pension, a spouse's pension from one of my late husband's employers, an annuity my husband was in receipt of and passed to me when he passed away, plus a small personal annuity. When filling in a SA form do you put GROSS figures for…
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Exporting for Friend
Hello, A friend abroad is buying expensive vintage items off auction sites like Ebay, but because many UK sellers don't ship abroad he has them shipped to me and I then courier to him. The amount of money involved is in the 5 figures and I have to produce an Invoice for exporting out of the UK (outside EU). In this case I…
