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Rental Income
My wife and I bought a flat together. As we had a child two years ago we moved as the flat only had 1 bedroom. We are renting the flat out to my wife's brother. Our mortgage payment is £540 a month. Our wife brother pays £580 and we use the extra money to pay for things when they gone wrong. This year the shower broke so…
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Rental Income and a Family Loan
My wife's folks want to buy our house, but not move in for a few years until they are fully retired. So they would rent it out in the meantime. We would then move and buy another place. Our folks don't have the full amount to buy the house so would need a mortgage. As they cannot get a mortgage (due to age and being…
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How to get a new self assessment form
This may be a silly question, but here goes, when a person has almost completed self assessment form and wants to start again from scratch again. Can the form that is almost completed be deleted and a new one will come up to start again. No tax form has been sent this year as yet but afraid to deleted the form in case…
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Self Assessment - Fitness Industry Expenses!
Hi, I'm currently filling out my first tax return - I am a self employed personal trainer and nutritionist and have two main queries; 1) I recently completed a Post Graduate degree (MSc) in Human Nutrition, to complete my studies I had to take out a career development loan and I've been making all my monthly repayments. As…
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Off-setting share losses against capital gains tax
Hi all, I searching the MSE site and also the HMRC site but I thought i'd ask in case anyone had any direct advice. This financial year I made money above the capital gains tax limit. This was on shares privately bought and sold and also on company stock options which I sold as I left. I have a number of other shares that…
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Partnership penalties
I completed the tax returns for my partner and myself online last year in January using tax software recommended by HMRC, a while later I was notified that the partnership return hadn't been received and we were charged penalties, I then wrote to them and stated the date and time they were sent but still sent more…
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Can anyone help with my Uniform laundering Tax Refund?
Sent off the standard letter with all the areas filled in correctly and got a backdated refund for approx £26, I thought it seemed a little light. Accompanying the cheque came a letter asking permission to examine my tax records to work out the full refund. I wrote back granting permission and have since got another letter…
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Another 2nd job tax question!
Hello! I am considering taking a second job for a few months and I wondered if someone could check my understanding regarding tax. I have a full-time job, I have checked and I am allowed to take on a second job. I have no other income from any other source e.g. WTC. I am single & earn more than min wage. My tax code is…
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salary sacrifice car
I have a salary sacrifice car. This means that i pay £310 from my salary before i pay tax. Since i started paying this my tax code has gone down from 810 to 540, this is due to the fact that my employer when completing my P11D form state that the 310 is a benefit. I pay this £310 and therefore surely this should not be…
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Payment on account-what's that all about ?
I filed my tax return and this time I have been charged a pament on account on top of my 2011-12 earnings. Why are they taking payment in advance ? an employee doesn't have tax in advance taken from their wages so why us self employed ? :(
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Income tax losses in Self Assesment
I'm not new to SA, but my circumstances have varied so much each year, it has always been rather complicated filing online. Basically, the last few years I have been employed, self-employed and a partner in a business, and usually all 3 to a varying degree. For 2011-12, I was employed on a very very small scale for part of…
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Mileage...community nurse, tax credits, help please
I hope you can help... I have started in post as a community nurse, Nhs. I spend a fortune in petrol and have had to start claiming it back. We receive around 50p a mile, it is paid with wages on payday. You can see mileage pay on payslip. We receive tax credits and really depend on them. With tax credits as your wage goes…
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Expenses reimbursement tax confusion
Hi all, I have an issue with my self assessment tax. In short, I work in lion conservation, and someone very kindly offered to buy me computer equipment for my work and future studies. So the computer was a gift and part conservation donation. I bought the computer in the 11/12 tax year from my personal bank account. The…
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Self-Assessment Help!
Hiya I wonder if anyone can help. I am a legal secretary and I work from home on a self-employed basis for an outsourcing firm. I am doing my self-assessment for the first time and am stuck! The problem I have is what I can claim for and the percentage of which I can claim. I know I can claim for heating, lighting, phone,…
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Tax band and childcare vouchers
Hi, I've just been lucky enough to get a promotion which will take my salary to £45,299, so technically well into the 40% tax band. At the moment I get the full amount of childcare vouchers at£243 a month, through a salary sacrifice scheme at work, and I have been informed that this payment amount will continue until the…
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Self Assessment PAYE - Child Benefit
Hi I am just in the process of registering for Self Assessment so I can cover the current tax year for Child Benefit. I am not sure yet whether I will be under or over the 50k threshold. I have a basic salary and a fixed monthly payment of car allowance to drive my own car (not company provided) and then a variable bonus.…
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Question about Employer's NIC, arising from pay slip
Afternoon all. Firstly, apologies if this isn't the best place for my question - I had a good look through the forums and I couldn't immediately see anywhere better. We have a question arising from my OH's rather confusing payslips. A bit of background: OH is a driver working for an agency. The agency hire him out to a…
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Estimating savings income for HMRC form P161
I have to fill in a P161 Age-related Personal Allowance form for HMRC as I will be 65 soon, and as usual I seem to need someone to tell me I've interpreted it correctly, or not, and a little help. How do I work out the estimated interest on my bank/building society accounts? They have been added to over the year so it's…
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Self Assessment, PAYE and Child Benefit
All, Hi Right I have been caught up in the Child Benefit change.. Fair Cop Guv. But I am somewhere in the middle of the range and a PAYE taxpayer. So I am going to register for SA. But several question come to mind. 1. How does being PAYE work with SA form etc I assume I won't get taxed twice...? 2. Can I claim any…
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Unemployed and received a Self Assessment payment reminder!
My son is unemployed and has received a Tax return and payment reminder, but we don't know why. He has been on ESA for over a year and this is making him ill with worry, as they are threatening him with a £100 fine if it's not completed. I know the easiest thing is to ring them, but he has no confidence to ring them and…
