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What LAW requires a Man or woman to submit a tax return?
What law is it that forces any man or woman to submit a tax return? I've asked the HMRC but they cannot tell me
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10% tax on savings interest
If so where ca
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Tax on receiving money from abroad
Hi this is my situation , my friend in Zambia Africa wants to send me £20,000 , the money he has made from selling his truck . The bank of africa will only let him send the money if i provide a invoice from me stating the amount . Will I be taxed if I receive this amount even tho it's a gift because of the invoice. This is…
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Renting Rooms in my home
Hello, I am just looking for clarification I have the correct understanding of this issue before I rent another room out in my house. Any help and advise will be greatly appreciated. I currently have one lodger paying 4250 which is tax free allowance. I am looking at another one or two in paying the same. My wages for…
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Trading Bitcoins what tax do I have to pay?
I am in the process of buying and selling bitcoins. Bitcoins are an on-line virtual currency. (I do not know if the uk government officially recognises it as a currency) My question is what type of tax should I be paying on the buying and selling of bitcoins. Let me give a simple example. I buy £500 worth of bitcoins, I…
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Buisness / Tax help required
Hi all A relative of mine has started to make a very decent amount of money from an online business. At first it started small scale as a bit of cash to make, but it has got quite serious very quickly to the point that they need to go legitimate. What are the ways available for doing this. For reference, the rough earnings…
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confused by tax on 2 jobs
Hi All been looking at my tax issues recently as I am thinking of letting my house out so would need to pay tax on these earnings. I currently earn at basic rate and also have some other work that still keeps me just in the basic rate. The second job i also PAYE. So I i have paid tax on both of these jobs. I did some…
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Stay sole trader or Limited Company
Hi I am a sole trader with an electrical contracting business nett profits of 42k, plus I have rental property nett profits of 46k, I ended the year paying tax 46k @ 40% total tax was near 75k taking payment in account for 2012-2013, would It be more tax efficient to open 2 Limited companies for my elec and property…
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PAYE tax code when self-employed?
I'm a freelance self-employed editor (and have been for the last 12 years) and pay tax through self-assessment. In the last couple of years I've done some work for a publisher which is connected to a University, and their accounts are handled by the accounts department of the University. I sent in a document to prove I was…
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Not a UK resident- being asked to file returns
hi,. I was in London briefly for 2 months from April to may 2007 for my summer internship. I filed the reuquired tax return and also got refund from the tax authorities for the overpaid amount. My visa was for 2 months only and i returned to India post that to continue studies and eventually join a job in India. I have…
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Why Has HMRC Given Me A New NI Number?
I have been trying to sort out a problem with my last years Self Assessment, HMRC sent me a letter called a SA302 showing my last years returns (2011-2012) and the letter that came with it has a different NI number. Its not a number that is slightly different to my old one, it is a totally different format - my old one was…
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HMRC Compliance
I received a letter from the compliance unit in February 2013, rang them to confirm my records were wrong (whilst self employed), they advised there would be no penalty but I would have to repay the tax and would write to me within two weeks to confirm the amount. Now, I assume they would write to me even if I had nothing…
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PAYE coding notice wrong.?
Hi - I have just received my notice of coding for 2013-2014. I noticed that a deduction of £5268 had been taken of my personal allowance for Taxable Incapacity benefit. I have been getting Disability living allowance and Attendance allowance for the last 12 years,and I only actually noticed today whilst checking my pension…
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Advice please
Hi all - in the process if buying a house. My granny has given me 20,000 as a gift. The solicitor starter pack has asked to declare sources of funds (gifts, savings, loans etc) Should i declare the gift or will we/granny be liable to any tax etc Thanks
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Wrong tax code for 3 yrs and now into 4th!!!
Was working full time in 2009 but went off on maternity leave. Being a wee bit busy, never noticed my tax code had been changed till I received a letter saying I was due a tax refund for 2010/2011 and 2011/2012 which i received a few months ago :j Found a letter in my files giving tax code for 2012/13 but when I checked my…
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A19/P800 question please.
On behalf of a friend, she sent off a A19 form that was enclosed with a letter in regards of a P800 tax underpayment 2010/11. It all started that she received the letter P800 back in Oct/Nov 2012 to say about an underpayment from 2010/11. They sent her the A19 form to complete in December 2012, she completed it an sent…
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What if more than tax bill?
What if the amount of allowances is more than the actual tax owed? Eg say i earnt £9k/made £9k in profits so not liable for tax as threshold. But my allowable expenses came to say £3k? thanks
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3 P45's in the same tax year.
I worked as a Casual Postman during 2011/12 tax year. At the time you worked 12 weeks then had a 2 week break. During this time Royal Mail sent out a P45 for the period worked. That year I accured 3 P45's. However as I was still "on the books" my service, payrole AND TAX continued to carry over on each P45. I have received…
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Payroll Issue - How to avoid being out of pocket?
Hi all, Hoping you can help me. I work for an agency and submit a weekly timesheet. This week, the company has processed my timesheet incorrectly - which has resulted in me not being paid (I sent a T/S for this week on Wednesday as I am out of the office and it was processed as for last week which has overridden the one…
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Employed or invoice?
For someone taking on a small part time Company Secretary role with the option of being directly employed or invoicing via an existing limited company, which would you choose? Initial thoughts are: Company Secretary role - would this be caught by IR35 and have to be 'employed'? Employee would have benefits (holiday,…
