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Beware fake HMRC tax refund emails
The email reads: "After the last annual calculation of your fiscal activity we have determined that you are eligible to receive a tax refund of £244.79 GBP." I have just had one promising a total just under £1,000, must be others going through at present. BE VERY CAREFUL:eek::beer: Just did not look right ( Don't click on…
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P50?
My friend who lost her job recently when her company went into administration was told by an ex colleague to claim tax repayment via a P60 form. She's just started claiming Income Based ESA having been signed off for 12 weeks by her doctor. So there's no way she'll be returning to work prior to 5th April and she's not…
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newbie question on tax on shares
hi looking to buy some shares through an on line broker. Question is what tax do i pay on any profits that i may make when i sell the shares? do i simply add it to that year's income or any profit from shares is only considered under the capital gains tax. in that case i think £10,000 per year is tax free under capital…
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When can you claim against tax from when becoming self employed
Hi I'm just setting up my own business as a wedding photographer. I'm in the process of registering the business and setting up a bank account. I have already brought some stuff for the business including an ipad to use to show pictures to clients. Will I be able to claim this against my tax. I won't have any income to…
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Time to throw away old tax records
In the past you had to wait 5 years and 10 months before you could ditch old tax records. Having just looked on the IR website now under Self Assessment, it seems to be much shorter now. Was anyone aware of this change or have I misunderstood? http://www.hmrc.gov.uk/sa/record-keeping.htm#3 How long to keep your records You…
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working in 2 places now only one
Hi you all wonderfull people, thank you for your continuous support Sorry if i am in wrong thread Let me make it short, I work in 2 places, but from 1st of march i will be working in only in 1. Lets say my main Job was A, and my secondary job was B (BR tax) now i will be leaving main Job A and will be working only in Job…
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Tax avoidance, is this it?
I own a house, OH owns an appartment. OH moved in with me and rents out his appartment paying 40% tax on income. We are getting married in June so effectively then own half of everything each. If the rent is then paid to me, instead of him, is this classed as tax avoidance (I am not a higher tax rate payer).
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Self employed loss offset against previous years paye?
Hi, I started being self employed this tax year and I also have some paye income from earlier in the tax year. I will make a loss as SE in the year. Question is, will I be able to offset that loss against previous tax years paye income or must I offset against the current year employment income first? (It would be better…
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PAYE question
In April I will earn taxable income of 2642 (pro rata £31704) In May I will earn taxable income of £3957 (pro rata £47484) Clearly in May I am pro-rata taken into the 40% tax bracket but I was well below it in April so do HMRC look at this and not tax me at 40% on earnings above £3454 (pro rate £41450) as I have some sort…
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Pension? Confused
Hi all, This is my first year self employed and I will just break into the higher rate tax bracket. I'm interested in putting the money I make over the higher rate threshold into a pension pot to keep myself below the earnings threshold but I'm confused. My four main questions are: * Firstly, do I need to put my money away…
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Two jobs under tax threshold
Hello all, I hope I am in the right place and hope that my question is clear, as I've never been in this situation before. I am about to start an additional job to my current one. First job I will be working 23hrs per week and second job 17hrs per week. Nether will earn enough to pay tax on their own but collectively,…
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Tax Rebate Questions
I finished my studies in 2010 and started my first ever job that year. I see now from my payslips that i was paying tax from the beginning to end, is it possible to claim back that tax now, some 2-3 years later or not? MSE websites article on tax codes is making me wonder whether i have overpaid now. Maybe i've…
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Benefit in Kind - for my father
Hi, I have been self employed for many years. My father used to work with me (both self employed), but has since retired, since that point he still does some running around for me, answers and makes some calls. To allow him to answer and receive business calls I installed cable and a VOIP phone system at his house. When I…
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need HELP!!!
Hello I am not sure if I am in the right forum... I will try to be short I use to work for nearly 3 years for Costa Coffee Franchise company The company haven`t being paying my taxes since my firs day of employment.At the end of last tax year they gave me check for the deductions the have done (I am receiving weekly…
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Incorrect Tax Adjustment this Month's Wages
Hi. New here - wondered if anybody can help. My husband started his new job on May 3rd 2012. He handed in his P45 which correctly covered 1st April ~ 2nd May 2012 to his new employer, and everything has been fine until today. The amount shown on the P45 from his previous employer was correct in relation to amounts on pay…
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PAYE following a period of unemployment
Hi, Ive just started a new job after being out of work for 3 years (yeah!,me). what % of my income would i expect to be deducted considering I have received no income this tax year and will only be working for 3.5 months of the tax year. I was hoping that i would get the full tax allowance but im guess that its on a…
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2010-2011 tax year
Does anyone know how tax is calculated for that year? Once the basic allowance amount was reached was it then taxed at 20% up to the next rate? Was there not a 10p rate of tax as well that year? Grateful for any help.
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Council tax Exemption/ SPD Review and CRAs
Hi everyone, not too sure if that's the correct place to post this but hope you can help. I’m claiming student council tax exemption and just received a ‘review of entitlement’ letter from my council asking me to confirm how many people are living in the property. The thing is my gf moved into the flat in Jan, and we’ve…
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If I start declaring now do I need to postdate rental income
Thanks in advance. :)
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NIC 2 - Bullied by debt collectors
I have been self-employed for a few years now, earning very little and making a loss in the last 2-3 years. Although I used to get a bill for NIC 2, I assumed that I was under the threshold (£5,500) and did not HAVE to pay the NIC 2. However, 6 months ago, a debt collection agency, on behalf of HMRC, started to telephone…
