-
Help Understanding taxes
Hello everyone, I've recently started a full time job, is the first permanent job I ever had as I was studying before. Before this, I had some part-time jobs which lasted 5-6 months each but I never checked how much tax I was paying etc. I've heard that it is possible that h&m revenue owns me taxes that I've overpaid and…
-
Self Assessment online for Mileage
Hi, I have been helping my sister out completing her mileage claim as tax relief from HMRC. I've sorted 11/12 out and thats submitted. But she never claimed for 10/11. The mileage claim is over £2500, does anyone know how we go about claiming for 10/11. Obviously we can't do is via the online self assessment as its for…
-
Notional tax credits for dividends
Hi, Please can someone help me to understand the above? Am trying to sort tax returns and have two figures on some old shares statements - dividends (which is an amount that I was paid) and tax credit at 10%. Am probably being thick but have looked online and understand the following - the tax credit is 1/9th of the…
-
TV License - query about renewal date
So i purchased/moved into my flat at the end of January last year (January 28th to be exact) and like a good law abiding citizen, I immedietely paid for my 1 year TV license upfront (though i do not agree with it). However, this week i have received a reminder saying that my TV license is now 2 weeks over due and they will…
-
How much can you allocate per page printed self assessment?
Hello, just muddling through my books. :o I know you can write off so much per sheet you print out. Considering for mystery shopping I have to print out so many its worth it! Is it 5p or something? Thank you.
-
Please Help! Its my first post!
My hubby has rented out his property since April 2010. He has made a loss on rental income until we changed the mortgage to a interest only mortgage in Feb 2012. That year we made a profit of £4,000 that is not including costs to upkeep the property which equal around £3,000, making a total profit of £1,000 for 2012. The…
-
When do I need to pay my self assessment tax by?
Hi, I have just completed and returned my tax self assessment online for a property which I rent out. Turns out I owe money because my employer hasn't been automatically paying my student loan from my earnings as I had thought. Can someone advise me what my options are for paying this? It says that I need to pay by Jan…
-
VAT Surcharge Liability Notice
Hoping someone can help. One of our clients had a Surcharge Liability notice for late payment of vat. What in fact happened was that although the payment was made on time, the bank transferred the money in two stages; with £20,000 actually transferred the following day (after the deadline). We appealed against this and…
-
Do I submit tax returns after ceasing self-employment?
I was previously self-employed for several years. My tax returns would contain details of my taxable income which was solely that from self-employment and also from a small amount of UK bank interest. I ceased trading during the '11-'12 tax year and submitted the tax return for this final '11-'12 trading year. I am still…
-
help with payee and diviend on tax return
Thank you for reading My other half was employeed by a company and paid via payee, he also was a director of a other company and paid diviends. He was before this self employeed and has since gone back to being self employeed But our question is can he claim on his tax return for expenses that the above two companys didnt…
-
Confused about petrol allowance for borrowed car
Hi, I've looked through and not spotted my question - apologies if I have missed it here somewhere. I've kept count of our business miles for filling in the tax form 2011-12... and have only kept a couple of the petrol receipts as I understood that I just needed to work out the mileage instead then claim 45p per mile (plus…
-
How long does it take to receive UTR
How long does it take to receive Unique Taxpayer Reference?
-
Norwegian tax questions
Hi, two questions about Norwegian tax system 1 Class 2-claiming this for spouse, have been able to claim this for last two years but this year spouse has earned 6k, it has to be 4k or under to claim class 2. Is class 2 worth 4k or is it worth more because the tax bands will change-ie you start paying tax at a different…
-
Business Tax Advice
I have been offered a position by an Italian company where I will represent them in the UK as a sales agent and be paid a commision. I will also be able to make direct sales to the public for which I have set up a limited company. Should I keep these two things as seperate as possible and just run the direct sales as a…
-
Tax on Google AdSense earnings
Hi I have a YouTube channel that has finally 'arrived' and I can now have ads on the videos which in turn earn me a small amount of money. Seems a good idea as I now get a few £'s to go towards my cameras and trips, no where near a self funding hobby but every little helps as they say ;) Since the middle of 2011 I think I…
-
Earned £40 more this month, was taxed an extra £48. What am I missing?
As per thread title, I earned an additional ~£40 this month due to some overtime/bonuses, yet I paid an additional ~£48 in income tax (and an extra £3 in NI). I have a number of deductions, and added another this month to the value of £23, but can't see this having a major effect. I'm paid 4 weekly, and due to a number of…
-
Over 60% marginal tax rate on salary when earning £40k across salary and dividend??
Hi, I run a small business with my friend and we are both Company Directors. Our gross salary is £20k per year each and we expect a net profit of £40k , which we will take as a dividend at the end of the year of £20k each. As I am now working more 50% hours than my colleague, we have thought about increasing my salary from…
-
Very, very worried about Self Assessment...
Hello, Very complcated situation which I hope someone will help with... My husband had a small LTD company from 2003 to Jan 2012 when it ran out of money and so did we personally. We went on a DMP and wrote to everyone informing them. Money mainly owed to HMRC and our accountant. He went SE staight away and gets stopped…
-
2nd job - what do I pay?
I have a full time job and earn around £35,000 but have also set up a little sideline business which will bring in around £13,000 in my first year. What are my tax and NI implications?? How do I pay both of these and when do my liabilities have to be paid by?? Also, are there any advantages in creating a limited company…
-
Self Assessment - Complicated situation
15 months ago I foolishly helped my brother in law set up a business. I did all his paperwork, took phone calls etc. I was named as a director on the company. He took a wage but I never took a penny from the company. The long and the short of it is he was unreliable and I felt untrustworthy so after 8 months or so I took…
