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Cutting tax

Archives for February 2013

self-employed tax deductible expenses question
Hi everyone. I am a (newly) self-emplyed psychologist and in my job I use psychometrics (they are like questionnaires) to assess clients as part of the work. These kits are expensive (e.g. £1200 for an initial kit and £100 for some forms) as they are copyright and I wondered if these are classed as expenses and if so are…
Is Road Tax applying tax twice?
Hello, just paid my road tax and had a thought about it. As I am paying with my net salary after income tax, wouldn't that mean its tax paid twice? If I consider my income tax bracket of 40% and given I pay 270 Pounds, am I not in fact paying 378 from my gross salary? If so, can I claim that difference back from HMRC? Just…
MSE News: More authorities increasing council tax bills
"A survey finds 41% of councils in England plan to hike bills this year, up from 15% last year..." Read the full story: More authorities increasing council tax bills Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
Claiming business mileage expenses
My brain is foggy and I can't work this one out so would appreciate some help. If I travel to a customer site in my own private car (yes I'm insured), then do I claim. a) The direct travel (in this case 27 miles each way). b) The additional amount over my normal commute (in this case 13 miles each way) or c) The lower…
where does he pay tax?
My OH has just landed a 10-month contract - he'll be working in India for a German company and being paid in Euros. We run our own limited company and he is a UK citizen. Is anyone able to tell me where the tax liability lies? I know that if the contract was for less than 183 days (about 6 months) he would be taxed in the…
Allowable rental expenses question
Can I claim the following on my allowable expensese for an unfurnished property I let? Replacement shower Replacement cooker Shower was beyond repair and the cooker deemed unsafe on the annual GSC. Neither add 'value' to the property so I am thinking yes........ Thanks
Tax rebate for working from home
Hi all I currently work from home. My contract with the company says I am officially home based. I've heard that I can get a tax deduction for the extra costs of working from home and according to the HMRC website I can claim some of the costs back. My question is will there be any long term implications of claiming part…
Cashing in a share scheme and capital gains tax?
This is over a year away, but I'm trying to be good and plan ahead. Basically I have a share scheme through my work that will mature in 2014, and should yield around 27k worth of shares, based on today's share price. I've been reading up on capital gains tax and I wanted to check if my understanding is correct. At the…
Tax rebate for travel expenses
Hello, I am currently on a one year fixed term contract. It has just been suggested to me that I can claim the tax back on my travel to and from work because the contract has an end date and is less than 24 months. It was suggested I look at the HRMC web page here: http://www.hmrc.gov.uk/manuals/eimanual/EIM32080.htm But I…
Home based self employment - proving rental expense
Dear friends, I would like a little advice about proving that I pay rent for tax purposes. I am currently self employed (online retail), running a small online mail order retail business from home (earning no more than a couple of thousand pounds a year). I hope to claim 7.5% of my rent (along with a proportion of bills)…
Want to declare tax, but don't want to be clobbered with penalties!
Or: 'Does the £1200 penalty apply to a Failure To Notify'? I've been a bit of a silly-billy. I have been receiving property income for about 10 years, which I believed my PA always covered. Recently I thought I'd do a summary and discovered to my horror that although this was correct fro the first 6 years, in the last 4…
Underpayment of tax
It turns out I've underpaid tax for the past couple of years. It amounts to £4K to £5K. I went to the local tax office to get help with filling in tax return forms for those years and by chance saw some notes on the computer. One of the comments, from the glimpse I got, was that they had stopped pursuing this amount from…
Help understanding how car tax is paid
Hello everyone! A quick and hopefully simple question which I'd really love some help with. I've tried a search which turned up no results... On starting a new job which comes with a company car I've recieved a Coding Notice. The notice makes reference to a deduction being made to cover the 'benefit of using the car for…
Aged Self Assessment Question
Hi All, Is it possible that someone can help me please? There are two things in regard to my self asessment. Recently I have been fined £100 for not submitting a self asessment for 2011-2012. During this time I had a ltd company and I dissolved the company at the time. I think in theory I am liable but am unsure. The…
Self Assesment Help
I am new the MSE, so Hi everyone. My apologies if this is a repeat of a previous but I have recently been told I have to start Self Assessment, and want to know what I can claim for on this. I am currently employed and get taxed through PAYE. I work from home most of the week, and my company do not pay me any expenses for…
Jobseekers - Should I have to pay council tax?
Hi everyone, Basically, I have been out of work for about a month now, I'm currently on Jobseeker's allowance. I have been told to pay £300 something for council tax, as I didn't pay when I was working. It was forwarded to court or something and have to pay £95 extra. They're asking me to pay £20 a week, when I get around…
Council Tax for unlivable home?
Hi I bought a house back in June. The house was damp, walls needed patching. There was no hot or cold water.(The water comes from a nearby farm and wasn't turned on. There was no form of heating the house as the house was vacant and the plumbing was bled and pipes needed replacing, and had no water. No hygiene facilities…
Employed & Self Employed Tax
Hi everyone, I hope I have put this in the right area. I just wanted some advice regarding working Full time, and also freelancing on the side. I have been offered a job which is much lower paid than my current role, but is in a field I want to do. On the side I am a web developer who has just started out, but I am getting…
tax on childs earnings
Hello, My 2 year old son has been offered a small modelling assignment. Potentially he may get paid around 2K pounds. Can he have his own tax-free allowance - or will his income be part of my income and hence taxed ? Thanks.
Vesting of company shares / Child Benefit
hi I was awarded some shares by my company when i joined which are now vesting. There are 3 options (a) Sell (b) Sell to cover and (c) hold all. With option a, the company shall deduct the amount to pay the tax etc and then give me the net proceeds. (if i sell on the day of vesting, there will be no capital gains to pay)…

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MSE News

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Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
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Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
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Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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Cutting tax

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