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Cutting tax

Archives for January 2013

HELP, morage interest question
what exactly can be claimed on this? I kniow some kind of interst can go down. my business address is my home, I also had a interest only morgage for half of the year? can this be claimed?
Tax allowance on self assessment online
when does this minus off? its shows my calculation but not tax allowance taken off? i dont want to submit it till im sure. anyone help?
Urgent self employed expense question
Hi A quick question before I submit my tax return prior to midnight. I work as PAYE and self employed. For the 11-12 tax year most of my income was earned as PAYE yet I still spent a considerable amount of money on expenses which can be written off under the self employment rules. Are there any percentage ratios which…
Flat rate mileage
Hi On the subject of mileage...flat rate this year is 45p, can anyone tell me what the flat rate covers, I know its fuel, insurance, repairs and tyres. I am self employed and have AA Breakdown at £180 a year, does it include this or can I claim part of it back on say a, 40%/60% ratio, I've trolled through all the online…
2011/2012 Tax Return Error
Hi, Due to being both in full-time employment and self-employed during 2011/2012, I was required to complete a self assessment tax return. I did this electronically on approximately 23/04/2012. Now don't ask why but I was reviewing the tax return just now and I am of the strong belief I have made an error and, as a result,…
Taking on a 2nd Job
I have a fulltime job (under PAYE), but one of ourcontractors asked me do I want some extra private work (under self-employedbasis). I have always worked under PAYE system, so never worked self-employedbefore. Though taking on this extra work will I get mega taxed? I want to make it worth while. I amnot sure how many hours…
Really need help with This!!!
Its the payment on accounts thing still. Ok last year I paid tax and had to pay 2 payments on account for 2011-2012 tax period (ie the one I paid today). However if I paid on account already for 2011-2012 why did I get a tax bill today to pay for 2011-2012?????? Really confused!!!!!
First payment on account for
Ok been going through my return. Got to the end and it tells me my calculation. Plus it adds on 50% of Payment on account for the 2012-2013. Now here is what I don't get. I did the same last year. Paid 50% with Jan amount and then another 50% in July for 2011-2012. Why then when I come to file my return for 2011-2012 am I…
Paying Back 'Owed' Tax
My previous employer, a massive IT Company, made a mistake and paid their whole UK staff a large amount of money accidentally. At the time, I had to pay them back, minus the tax that was already deducted through PAYE HMRC have now re-written my tax code to reclaim underpaid tax, possibly believing I was the beneficiary of…
Where find "Relief for 2012–13..." on online forms?
Hi all. A simple question - I want to reduce the amount of tax to pay ahead of time, payable into the tax account today. I know I can reduce this by adjusting the tax, but when I enter the number into "Any 2012-13 repayment you are claiming now" under "Ajudstments to tax due" I get the following error message: You cannot…
In a muddle with accounts
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Do we have to declare this?
My partner moved out of her flat and in to my house a few years a go. Her flat was in negative equity so we had to let it out. The mortgage payments are large (interest only) and the rent we get back is only equal to about half of the payments. I've read the HMRC guidance and as far as I understand the interest on the loan…
Allowable expenses - who pays the bills?
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last minute panic - tax return query
I bought an existing business during the year, where do I put the cost of this and the associated legal costs on the tax return? There's a section for professional expenses but not sure this includes legal expenses or just ongoing accountants etc Help please! Thanks
Self Assessment Query - Workwear
I am filling in my tax return for today's deadline. I work full time and last year played in a band. After filling in my work and band details on my tax return it states I owe £185 from my full time employment. I had my tax code changed last year to pay me back 6 years worth of workwear washing. so adjustment of about…
The Tax Man
http://www.guardian.co.uk/politics/2013/jan/29/hmrc-tax-hotline-customer-service I telephoned the TAX Man yesterday 25+ minutes later they answered, five minutes of press 1 press 3 press 2 ect, further on I was told to phone back in a months time. When is it going to end ? Maybe the end of the world come first ? :mad:
Morgage Interest tax duductable?
Hi, I read online that the interest on my morgage can be used as a tax deduction?my business address is my house. I have also had a period where my morgage was interest only any help? Thanks
Inheritance Tax
Hi Folks, Firstly if anyone takes the time to read all this and replies I am more than grateful. I will try to keep it short and list bullet points to make it easier to read. In 2007 My father died and I paid what I thought was all the inhertiance tax. He had several accounts and the solicitor charged a fortune as It was…
Just starting out and confused by Tax
Hi everyone, I'm new here and after looking through the forum i cant seem to find the answers i need for my question, I'm sure that for the right person its a simple one but for me its very confusing !! :o Basically I'm employed full time during the week and pay my tax etc (PAYE) I'm thinking of going self employed doing…
CGT advice please
Hi there. My Partner is selling his house to pay debts. If it sells at the asking price he will have made £90,000.My question is: He is a basic rate tax payer earning less than £40k pa. Will the gain in this tax year of £90k mean that he will pay 28% CGT because his taxable income for just this year is over £40k? Or will…

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Cutting tax

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