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Capital Gains Tax
Hi everyone I know this issue has been dealt with on many occasions, but I just want to be doubly sure in my situation. My father owns a second 2 bed property. It is currently worth about £250k in SE London. However, I have been planning to move in there, and rent out the remaining rooms for a year or two. If he sells it…
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nurses on call line rental
not really a tax cutting thing. but the wife has just received 300 back pay for line rental for being on call they missed the payment so roughly 100 a year.
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CGT again
My father has handed over the cottage that we have been living in for the past 25 years. The cottage is part of the family farm but has not been lived in at all by my parents. There is expected to be a CGT of 36k which i appreciate is my parents liability but we will be paying. Is there any way of lessening this bill? My…
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Tax/NI question(s)!
Hi :) Just a few questions, as a lot of googling later, Im still none the wiser! If somone employs me as a nanny for minimum wage (£6.19) for 25 hours or less a week, would it cost them anything (Tax or NI contributions) other than paying me? - Im registering with OFSTED so that they can claim Child Care Vouchers. It might…
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HMRC treated its Goldman Sachs tax deal whistleblower as a criminal
http://www.guardian.co.uk/politics/2013/apr/29/hmrc-goldman-sachs-tax-osita-mba
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Very low earning self employment
I work full time and earn a salary which I PAYE 20% tax. I've recently started working as a professional photographer part time and have made small earnings from it. To keep everything legal I registered with the HRMC and will complete tax returns. I am expecting to make no more than a couple of thousand a year if I'm…
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Tax return incorrect due to mistake on P45
I'm getting investigated by HMRC because of a "discrepancy" on my tax return. I'd filled it in based upon the P45s/P60s I'd received for the relevant year, but it turns out that one of the P45s was wrong (actually 2 of them were, but one was obviously complete gibberish, so I noticed that straightaway and didn't submit the…
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tax calculation
Hi can someone please work out...(or show me where I can find a tax calculator where I can do it ) the total take home pay for the following A final salary pension of £26,322.50 paying no NI combined with a salary of 29,759 paying NI for a single person under 65 thanks
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HM Rev/Customs/P800
Please can anyone tell me who are the Employer Error Team in Walsall. My mate has a case ongoing and trying to sort out in regards of a underpayment since before Xmas (P800), and she received a letter to say they could not reply to her query on the phone when she rang them back in early April because they have forwarded…
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National Insurance Contributions class 2 SEE for next year
I am employed and self employed. In 21-13 I knew I would earn <5995 in self employment and so applied for and received the SEE certificate. For 13-14 I am genuinely not sure how much I will earn. Can anyone advise what they might do - do I ask not to have this exception, if so what do I need to save or pay in NIC2, or do I…
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Tax Code BR
I have been at my current employer now for 18 months, but following the new tax year (Apr 2013) my tax code has changed from 810L to BR. Does anyone know why ? N.b I do not have a 2nd job.
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Anyone have experience with Lithuanian tax?
I'm living in Lithuania now and trying to sort out my tax affairs, mainly so I can get on the property ladder. Unfortunately, tax information is not as easy to find as that published by HMRC. I have read all manner of conflicting information regarding taxes and even the tax office here seems to be rather unhelpful.…
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Capital Gains on Second Property
Bought with wife in joint names in 1998 for £115K Lived there with wife until 2006, when we tried to sell for 330K but were unsuccessful. We then let the property out and bought another home. We are in process of selling the property now for about 300K. Are we liable to CGT on the profit even though it has gone down in…
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40% Tax question
Hi, I am wondering if you can help me. I am a Registered Midwife and work full time with a salary of £35,000 (before tax and inclusive of unsociable hours). I am considering doing a few agency shifts, but was wondering if how the 40% tax band works? Is it that if I hit the 40% tax bank, all my salaries will be taxed at…
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Share Options - income/CGT
Hi, Last year the company I work for granted me a bunch of share options, which become exercisable in five batches, one per year for the next five. The first batch is eligible for exercise tomorrow. The company is traded on the NASDAQ (although I am in the UK and contracted to the UK entity) and the options are handled…
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Is Tax Code 619T correct?
My father has recently gone into hospital and I am trying to keep an eye on his finances in the meantime. He has been sent his pension scheme payslip and which has the tax code 619T which to me doesn't look quite right. He is 82 and the gross amount for the month is 975.00. Looking up the significance of a code ending in…
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Claiming electricity business expenses in parents home
Hi all, I hope someone can help point me in the right direction. I work a few hours from home doing web development, and as such make use of my bedroom for, say, 8 - 16 hours per week. Obviously, i would like to include some of the electricity cost and broadband as expenses when filling out self assessment tax return. I…
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Claiming tools on self assessment
Hi,just pondering over my online self assessment forms and was wondering if someone could answer this question for me.I spent approx £200 on tools and paid approx £100 for public liability insurance,would i claim this amount back as general business expenses or capital expenses.I was just going to put it in with my travel…
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Cgt
Hello My husband and I have three properties between us. One is our current home, which is in my sole name. The other two are our previous homes, and are now let out. Question is - when the time comes to sell the previous homes, there will be a capital gain. How do we calculate this? and is there any way to legally…
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950L Tax Code?
Can anyone tell me why someone would be on a 950L tax code rather than the standard 944L? Boyfriend has just had his first pay slip of the new tax year and seems to be on a tax code of 950L but we have no idea why. And yes I know it means he's effectively paying (slightly) less tax but we've had problems in the past with…
