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IHT w/ no Will
Not sure if I've put this in the right section but have a quick question regarding inheritence tax. I know about where money goes if you're married or in civil partnership, how much goes to the children and intestacy etc. etc. What if the person dies with no Will, is not married but has been living with a partner for a…
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Will I Receive My Re-Issued Tax Refund
Hey, I'm owed several hundred pounds in a tax refund which dates back to 2010. I wasn't aware I was due a refund until 2 or 3 weeks ago so I called up the tax office to query it and they claimed it was sent out in November 2011 which I obviously did not receive so the guy said he would forward it to a different department…
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Self Assessment - to Accountant or not Accountant?
Hello folks, If I am placing a thread and this is already answered somewhere else, please by all means ignore me, but before you do, can someone put me in the right direction? Link to appropriate/similar threads? I have rented out my house (living with the boyfriend) and did my own return last year, as it was really just 2…
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Advice please - debt due to wrong tax code
A friend of mine claims that they've just found out they're in considerable debt to the tax man due to their employer using the wrong tax code. Even though the fault lies with the employer, they're supposedly having to pay interest on what they owe. Can this be right? It seems very unfair. Or does my friend have her wires…
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full time employee and company director
I am filing the self assessment for the year ending 5 april2012. I am in full time employment and pay tax through paye. I am also acompany director, but i didn't take any dividends or expenses from this companyfor this tax year. Do I need to enter this directorship in the self assessmentform? Thought I shouldn't because I…
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Want to sell family home and move into my other home
I own 3 properties - two that I rent out and my main family home - the one we all live in. We are thinking of downsizing as the children have now left home. Can we sell our main family home ( thus avoiding capital gains tax ) and move into one of the other properties ? Will this then become our "family home " . Will we…
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Quick AMAP question
Hi all. I have a car allowance scheme and have a question to ask around fuel AMAP payments. My last employer used The Mileage Consultancy (a web based company which calculates payments) which, as employees, each month we had to input the mileage we had travelled and upload the receipts. The purpose of this was twofold: 1)…
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Claiming for NIC2 Exemption
Hi, I was wondering if someone can help. Last year my earnings went above the threashold to be exempt from paying NIC2. However this year, my earnings will be below the threshold. I sent the application to apply for a certificate for an exemption, however I received a letter back saying that I cannot apply as my earnings…
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Reducing payments on account
Hi all, My profits last tax year(11/12) were higher than I am expecting for this tax year. On 31st Jan, I owe £775 balancing payment for 11/12 which is fine. However my first payment on account for 12/13 is £1000. I want to bring it down to £800, as this is just a bit higher than what I should end up owing for half of tax…
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HMRC trying to be funny or am I victim of a fraud?
Hello, I just got a tax calculation from HMRC for the year 2011-2012. I will not go into details of my income, but to make it short I earned good money as an employee and paid within the PAYE scheme everything that I had to according to HMRC. The funny part is that they added JOBSEEKER ALLOWANCE to my earnings and want me…
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Self Assessment - using the information boxes
I let a property and made quite a big loss in the 2011/12 tax year. This is because I had a tenant do a bunk while in the middle of the fixed term whilst I was in the middle of a busy time in my life. Therefore I left the property vacant for a little while, considered selling it, then had some refurb work done before…
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Website - A valid expense for self-assessment?
I run a small online e-commerce site for items I manufacture myself. Can I offset the cost of the online store against my tax? I upgrade & redesign it every year to 18mths to keep it fresh and interactive. I am a sole trader and spent many hours myself designing, creating the site and updating it on a regular basis…
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Retired
I'm retired and in receipt of two Annuities. One I've been paid money each month for a couple of years so the tax man has given them my tax code (so they know much to pay before deductions) mind you its a pittance. The second one I've just received the first instalment but was Taxed @ 20%. The income from these two…
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Help Understanding Loss Brought Forward
We have a holiday chalet in Cornwall that we rent out but don't make a profit on mainly because we don't run it as a business and we re-mortgaged to buy it. We've used an accountant to complete our SA for the last 3 years and each time there has been a mistake.This year we are completing them ourselves but have a question.…
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What else can I put through the books?
Dh is self employed, I'm reading about mileage and wonder if I could claim claim this ? He occasionally used our car and we pop diesel through but nothing for wear and tear? Also, can he claim for using home as his office? He does quotes, orders materials etc? Also anything else I could be missing that I put through? I put…
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Moving back to the UK, what's the best arrangement for tax?
Hello, My parents have decided to move back to the UK after spending several years in Hong Kong. Officially/technically, both my parents work for the same company, but my Dad earns the bulk of the money (he holds a senior position in the company). The company is registered overseas in HK and it will remain there as 'HQ'.…
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Owe tax?
I've just got home to find a letter from hmrc with my tax code for the next year, stating I owe the best part of £500 in tax! I've been in full time employment for the past 2 years and have genuinely no idea how they've worked this out. Last year I changed jobs, when I started my new job I ended up paying a shed load of…
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Owe tax?
I've just got home to find a letter from hmrc with my tax code for the next year, dramatically reduced stating I owe the best part of £509 in tax! I've been in full time employment for the past 2 years and have genuinely no idea how they've worked this out. Last year I changed jobs, when I started my new job I ended up…
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Tax on rental income issues
Hey people, This is my first post on this forum, but I hope you can help. I own a one bedroom flat that I have an outstanding mortgage on. I don't own any other property and live with my wife and kids in a rented house. I currently rent out the flat and need help with the tax issues that this raises. The rent that we get…
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Vat margin scheme & self assessment
Hello I am a sole trader dealing in antiques. I am vat registered using the margin scheme. Therefore I don't charge my customers vat, but I pay HMRC 20% of the profit I make on each item I sell. My question is: Can I put the vat I pay over the year down as a business expense on my self assessment return?
