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Self assessment, self employed - zero expenses
Hi, I'm in full time employment earning a very good salary, but used to be self employed (sole trader). A business I used to provide software to still use it with their customers and pay a license fee for each new install, so I still pay the class 2 nics twice a year and fill in a tax return each January. I don't…
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No Meal Breaks at work?
I heard mentioned that it is possible to reduce tax if you do not have meal breaks / or no provision for meal prep at work. Any truth in this?
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Need a little help completing a P50 tax rebate form
I need to complete a P50 form to claim back tax from my previous employers on the 01/02/13 (i.e. four weeks after I left my last job), as I'm at university and won't be returning to work until the new tax year at the earliest. However, I'm mildly confused by the section that asks for Employer PAYE Reference. There's only…
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Tax on time
Hi, After being on this site a while back I was advised to register with an accountant, which I did and have filled in all the paper work they asked me too ie they will act on my behave in any tax I have to pay. I have heard on the radio this week that tax returns should be in by the end of this month.( I thought it was by…
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will i get a tax refund
i have just recived my new tax code and was just wondering if i am owed any tax from 12/13 will i automaticly get it sent to me from hmrc. thanks
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Contracting as a second income
Hi there. I’m looking at doing some consultancy work for a local university on top of my full time job and I’m wondering what’s the most tax efficient way to deal with the income? To give a bit of background, my full time job is a staff position and the university are offering to pay an hourly rate for 1 – 2 hours per week…
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Declaring unpaid tax - best way to avoid penalties?
Hi, hope someone can help advise. A friend has been receiving property income for about 10 years, but never declared it as it was always lower than her Personal Allowance. (She had no other income) About 4 years ago she got a job. But she still never declared the property income as she misunderstood how the PA works and…
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Council tax payment
Hello, I've searched all over the place for an answer to this question but can only find questions and answers around missing a monthly payment. Anyway, a bit of background before my question - I like to pay bills upfront rather than pay by direct debit as most companies charge more for it and I'd rather not have the…
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self assessment-personal allowance does not appear, nor payments on account made so ?
Hi I am dealing with o/h tax return. his first year as self employed was last year - tax return seemed fine in the end. eg earning gross c£14.5K, they took into account personal allowance, advised tax to pay was c£1800 for 2010-11 plus a forward payment for 2011-2012 of c£900.00,so paid c£2714. then a second forward…
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Self Assessment - What format to keep receipts?
Just completing my tax return and I understand I have to keep receipts 5 more years after the filing deadline, but I would like to know what FORMAT these need to be kept it? We have recently started to scan and archive all household bills and I'd like to do this ideally for business receipts as well. Would this be…
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Tax on Rental Income
Answered in other forum
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self employed and tax
Not sure if im in the right room. I went self-employed as a consultant in June 2012. I have not started my own company as i mainly consult for 1 firm but also do weekly work for another. I am only now starting to see 'good' income (as im comm based). I do not expect to be a higher rate tax payer. 2 questions: 1 = when will…
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Tax code D0 issue
Hi I've just received 2 letters from HMRC stating that my tax code for 13/14 will be D0 which will allow them to take 40% on all earnings from pension and wage. I recently changed jobs internally due to ill health and receive £12,000 in pension and £35,000 in earnings. After deducting my personal allowance my calculations…
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What to expect from an accountant?
Please help! Am I being unreasonable here? I was very anxious re tax affairs and approached an accountant to help me clarify issues going back a few years. He agreed for a set fee. When he went through his completed calculations with me and I asked questions to understand my situation and resultant tax bill, he spent some…
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Entrepreneurs Relief
A husband and wife are 50/50 shareholders in a limited company. They're looking to retire within 10 years. They want to sell a £700k business property and move this money into a pension to fund their retirement (over the course of several years, obviously) They are then selling the business to their son (who will…
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Council tax valuation tribunal
I am wondering if there is any recourse to challenge the decision made by a valuation tribunal? We have had our appeal rejected today (request to lower from Band B to A), but the list of reasons seem pretty flimsy to me and seems to centre around the fact our house is a new build. It was purchased for £76k in March 2012,…
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Capital Gains Tax Property Query - Please Help!
Following the ending of my relationship with my wife I moved out of my property in May 2010. My wife initially remained in the marital home but has moved out in December 2012 and I have put it up for sale recently - but early signs aren't good in the housing market. From checking the HMRC website I understand that I won't…
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Help Confusion
Hi, Well my partner has just received his PAYE Tax code for the year 2012-2013. He is now claiming Jsa incomebased. Whats confussing me is they have left a special note at the bottom saying they have sent his new code to an old employer, but this is not his previous employer, this is an employer from 3 jobs ago, It also…
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Limited company????
I am currently a sole trader but am now looking to start trading as a Limited company. As a sole trader my current tax year ends on the 5th April 2013, is it worth me waiting until then to start up the Limited company or should I do it now? Will starting up a Limited company now help in reducing my next tax bill or is it…
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looking at getting a mortgage as self employed what figure do we put down as earnings
My partner is self employed but he works under the construction industry scheme so is taxed at source now we are looking at getting a mortgage this year i have a question... Say for example his earnings are £43000 before tax this year and £37000 last year will they go off £40k as the average or do they have a special way…
