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Agent's commission and VAT
Hello, I'm a writer, and I'm trying to do my own accounts, including VAT. Can anyone advise on this: I get a book deal for £175,000. My agent takes 15% commission (£26,250). My agent takes VAT on that commission (£5,250). So far, that's £31,500 gone. How much VAT do I owe the government? Is it as simple as ignore all the…
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tax on deferred fund
I have held a deferred bond fund since 1992. £10,000 was invested and I have drawn a total of £17000 over the years with a balance of £13.500 remaining. I have just recieved a chargeable gain certificate. I am a normal rate taxpayer. What tax can I expect to pay?
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Tax Investigation Insurance Pricing
Hi there, I have recently received what I would deem to be quite a scaremonger style email from my accountant regarding Tax Investigation Insurance. I assume as the result of a recent investigation which has cost a great deal of time, they have said that from April 5th they will automatically be signing all clients up to…
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Paying extra tax on Holiday pay
Hi guys I am currently employed through a agency and have been since Feb 2012. I didn't really take any holiday last year so at the end of the year, I had 11 days left over. Now I only found out last week that I should have been paid this at the end of 2012. (I thought it would be in April 2013) I'm only 20, So I not…
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P800 received - Under paid tax
Hi all, I'm just wondering if I have a leg to stand upon receiving a P800 stating I have underpaid tax for year 2010-11. In a nutshell for this tax year I had 3 jobs. One was a long term position for 7 years, ending in June 2010. Next job I had a company car June - December (car was august 5th to dec 31st) then 1st Jan…
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P45 issue ?
Hi wondering if anyone can help? I joined a new company on 18th Feb, having previously worked for another company for a short time (Aug 2012-Feb 2013 - job that wasn't what I was promised.. anyway..) I received P45 promptly from old firm, and handed this in. My Feb pay with new company was pro-rata'd as I joined mid month,…
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Self assessment help
My mum went into a home last year and her home was rented out from October last year. I think we won't have to pay any tax this year but her home was done up to the tune of £10,000. I have been told that the repairs would be better claimed against the tax when the house was sold so that would mean that I could claim for…
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Tax Rebate
Hello, Last year I started a job, that I didnt continue with for various reasons but was there for less than a month, I was paid for the time I was there but they charged me £45 tax for less than a months work. My question is will I have to write to them to have this returned or will I get it back without contacting…
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Cost of van for SA
hi forumites I've tried to research this and tbh HMRC website has confused me more than helped me! Basically my DH is a sole trading SE builder for several years, his work van has just failed its MOT miserably and he needs to get a new one this week, when I say new, I mean second hand, its only used locally so a cheapish…
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Cost of Mobile - Allowable Expense?
Morning, Quick question I am unable to find the answer to elsewhere. Currently letting my old house and off-setting my monthly mobile costs against the tax. Needing a new phone - my question is - is the cost of the handset considered to be an allowable expense? Thanks.
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Confused about my PAYE coding notice
Hello all, I was wondering if anyone could try and clear something up for me. I recently received my PAYE coding notice from HMRC for the upcoming tax year 2013/2014. However for some reason I got two different coding notices. I have one thats saying my tax code will be 893L and this relates to my current job that I have…
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Capital gains tax & private residence relief
I would be very grateful if anyone can offer advice about my situation regarding private residence relief that I would be entitled to on selling my house.... I have owned my house for 15 years and consider this to have been my main residence since I bought it. I occupied this property continuously for 9 years until I moved…
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Another daft council
OK so before any were all in it together nazis want to chip in the council was offered payment for legitimate council tax that is due once the correct figure is calculated. Now the real issue: I do or may have some outstanding council tax with Perth & Kinross council for the water charge portion while I was on benefits and…
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Capital gains loss?
Hello all, Here is my scenario: In 2007 my wife and I bought our council flat valued at £XX,XXX and with a large % discount. We lived there for about 2 years and then had saved enough to move. When we moved we kept the flat on and rented it out. It has been rented out a couple of times and when our last tenant gave notice…
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Not recieved Tax code.
I have not had a hmrc tax code letter for tax year 2012 - 2013, i have checked my tax code on payslips with an online tax calculator and i seem to be paying the correct amount of tax, but I'm wondering if the hmrc have stopped sending out letters? Before i ring them. Thanks.
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Anyone recommend a payroll company
Hi all, we are new to this and wondered if anyone could recommend a payroll company in Birmingham. Some of our clients have recommend thepayrolldept and hps payrollservicescompany Never heard of either of them, but then our accountant was doing our payroll an charging us £5.50 per payslip, we have 11 staff, so that was…
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Council tax single person discount
DH and I are moving overseas. He has a job and will be going 3 months before me & the kids. He will likely return to our house for 2 long weekends in this period. Will I be able to claim the single person discount for this time?
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Employer made a mistake with redundancy calculation. Now HMRC want the money
Hi, my husband was made redundant last year (March 12) and received a large redundancy payout (he had been with the employer for 25 years!). It seems that his employer however made a mistake and didn't calculate the tax correctly. Because the payout was large, it seems that my husband would not have been entitled to his…
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MSE News: Council tax rebanding hope as Government pushes to end incorrect 'six-month
"Households who try to get their council tax band lowered have been given a boost ..." Read the full story: Council tax rebanding hope as Government pushes to end incorrect 'six-month rule' 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…
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New Arrival Personal Allowance?
Hello I came to the UK in Jan 2013. This is my first time here. I started working self employed on 25th Jan 2013. Yesterday I have just got my national insurance number and now I am ready to register for self assessment. I have earned approx £2200 so far (by 5th april maybe £2700). Few questions.. Will I get personal…
