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Council Tax Discount - 25% What does this mean?
So what does this condition mean; young people under 25 who get funding from the Skills Funding Agency or Young People’s Learning Agency Does it mean someone under 25, whos course is funded (free) by the Skills Funding Agency, regardless of time. i.e. full or part time. I understand this is seperate from "Student Discount"…
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Two annuities, too much tax
My father-in-law (age 80+) has two small annuities with the same pension company. His total income from all sources is less than his personal tax allowance. HMRC have given him a tax code. The pension company has applied this code to the smaller annuity (making it tax-free) but have used tax-code BR against the larger…
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PhD student and Personal tax allowance.
I've recently started a PhD and am in receipt of an EPSRC annual stipend of £13495. My personal tax allowance is £8105 for this tax year. Does my stipend count towards this figure (i.e. in which case I'm over the allowance) or is it only any interest earned from or in addition to this that counts towards this allowance? If…
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Personal tax allowance
I have a pension and a salary both are more than the personal tax allowance. HMRC have asked which I want my personal tax allowance to be set against - does it matter? I will pay the same tax from my total income surely.
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Inheritance Tax - Transferring Thresholds from more than one spouse
I would appreciate clarifaction on transferring unused nil rate band thresholds where someone has re-married based upon the following: Anne died April 2007 leaving estate worth £200k to her husband James. The nil rate band threshold at this time was £300k. As there were no legacies, my understanding is that 100% of her nil…
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Staff Mortgage Benefit in Kind
Hi Sometime ago I worked for a bank and transferred my mortgage onto their then staff mortgage rate. At the time of changing I was on maternity leave and subsequently left the company but at present my staff rate still remains. Having left the company I expected my rate to be switched to their variable rate but as yet (3…
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PAYE and NI advice please!
Please please please can someone help us! My husband went from being self employed to employed a year ago and his tax codes are all over the place and appear as if he's paying too much tax and NI. We don't know who to ask or who to contact so a bit of advice would be so very appreciated! The story:- - he started as…
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capital gains
For 10/11, I had a car where I used the depreciation method. In 11/12, that car was written off, I purchased a new car, and will now be using the mileage method, with £50 to put forward for capital 'allowances'. Also have a phone to put forward for 'capital allowances.' Does the above question get answered as 'yes'? Are…
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Payment on Account - Income Tax
Hi, I'm self-employed. If i make £20,000 before tax by this April, how much will i need to put down as 'payment on account'? and when will this need to be paid? Thanks :)
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should i pay tax
hi i dont work as i cant dont claim any benafits live rent free (dads house)and get 80 pounds a week to live on given by my father who dont live in the uk
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CGT on death
My parents have approx £80k of shares from which they earn a good dividend but which they are not totally dependant on. Most (let's just say all for simplicity) are owned by my mother. I am concerned that on her death the government will just say £80k profit and demand 20% (I am assuming that is the rate less 8 or 9k…
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Bit of tax advice please
I'll try to keep this as simple as possible. A lady was asking my advice tonight on a tax thing and I really didn't know what to suggest, so I'm hoping someone on here can help. She is a retired lady, and has recently realised that she's been in the wrong tax bracket for about 9 years (including her last 7 working years).…
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Self-employed : Small Earnings Certificate for previous years
Hi all, I set up a limited company in 2009 and my profit and loss account was alltime less than £5000 and i did not also paid for Class 2 National Insurance Contribution. However, I have forgotten to apply to the Small Earnings Exception certificate (i was relying on my account who was a bit negligent) and presently I am…
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Council Tax discount for single occupancy
I currently have a 25% discount on my Council Tax for single occupancy. My son has just moved to Canada to live but wishes to retain a UK bank account. If he uses my address will it cause any problems with my discount?
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Self Employment Loss Offset Against PAYE - HOW LONG TO PAY?
Hi All Well I know that I have some losses, errrr :( BUT, I'm a PAYE employee too, so I know that I can offset and get some Tax back. I have a few needs for the money when it comes in, like paying off a car finance. Does anybody know how long it takes, my plan was to file my tax return in April, right away as I have all…
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Is this taxable income
Hi New to forum. Asked this in another forum but any tax experts please help. Today out of interest i phoned the Tax Credit people out of interest i have recently returned to work and having a disabled wife i was interested in the possibility of Tax Credits . The lady i spoke to seemed very robotic in her mannerism and…
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WHy is my partner not paying NI?
Hi all, partner started a new job 2 years ago minimum wage, 37.5 hours a week but he has council tax & csa to pay so his final pay is £186 I've only just seen his payslip and turns out he's not paying any national insurance, i'm worried he won't be paying anything then if he gets made reduntant or anything he won't have…
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help please statuary demand
my wife recieved a statuary demand from bw legal regarding a defaulted barclaycard debt, it was left on the front porch floor because the door was open, this is the first time my wife has had one of these although she has been dealing with debt for years ive got a couple of points that i need help with please 1. The demand…
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Think my mothers employer may be deducting too much tax.
My mother works for a small shop/post office & suspects either her employer is deducting too much tax from her or is scamming. My mother only turned 65 in Oct last year & has been claiming her state pension since she turned 60 & kept on working. Her pay slip says roughly £8500 gross pay a year & her state pension totals…
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Tax to pay on cashing Prudential Dividend Bond
Hi i am unsure of the tax status if i cash a Bond i have had since1994. it was originally a MG Dividend Bond now part of Prudential. i cannot find the original documents but thought that tax was paid within the fund. I opened the bond with £ 25,000 it is worth about £ 75,000 approx now. Many thanks
