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Reclaiming Overpaid Income Tax/NI/Student Loan
Hi all, (I hope this is the most appropriate forum for this?) I work freelance and so each month my pay varies and subsequently my income tax, National Insurance, and Student Loan payments also vary. At the end of the year I usually end up paying more tax, NI and Student Loan than I should have. This usually occurs either…
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Council Tax - Main residence
Hi All, I have recently been told that I am not entitled to a single person discount on my council tax in a period where i was living alone in Northampton. I was hoping if someone can tell me if this was the correct decision or just the council trying to shake me down. My circumstances were: From Jan to April I lived alone…
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NICs - small earnings exemption
According to HMRC to qualify for exemption for NICs you need to complete their CF10 form. But I can't seem to glean from them whether I need to let them know immediately or send the form in with that year's tax return. Has anyone any experience of this?
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Received a Letter from HMRC
Hi All, Within the last month I bought a house and on Saturday a letter from HMRC arrived stating that they have received a Land Transaction Return from me relating to the new property and I owe a penalty of £100, what does this relate to as I sent no LTR's to HMRC? Thanks
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Tax on training course
I recently changed jobs. My old company charged me for a training course I went on because I left soon after (not complaining about that). However should they have deducted it from taxable pay (reducing my tax burden) or from net pay (which is what they did)?
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Company car tax calculations
Hi, I'm for the first time considering a move from car allowance to company car due to the higher mileage I'm now doing. I think I have fully understood the calculations but would appreciate someone could just validate my understanding. I have ignored the allowance payment for now to keep the figures balanced and easier to…
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Advanced month on month salary calculator
Anyone know of any online calculators that will work out your take home pay month on month i.e. for April, May, June etc if you input the gross figure for each month. My pay this year will widely fluctuate month on month taking me above and below the 40% threshold and I'd like to work out what I will taking home each…
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Is mortgage interest tax deductible from rental?
Sorry if this is a naive question, but I started renting out a property last year and now face completing my first self-assessment tax return. I have been told contradictory things about whether the interest I pay on the mortgage for the property is tax deductible. Can anyone clarify this for me? If it is tax deductible is…
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Book royalties - 'other income' or self-employment income?
I have a full time job (not greatly paid!) and last June put out a self-published book using Amazon. Non-fiction, niche and not especially cheap, I had a reasonable hope/expectation I could make up what I spent (mainly a software licence + refurbished iMac), but it's gone rather beyond that - my total royalties for 2012/13…
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Income tax query
Hi, I'm a resident of Northern Ireland working in the Republic of Ireland. I pay income tax and PRSI in the Republic of Ireland (ROI). However, as I'm a resident of Northern Ireland, I obliged to complete a tax self assessment each year to HRMC. In previous years, self assessment calculated that I owed some tax to HMRC…
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HMRC Personal Tax Codes
Apols if this has been covered in another thread, a quick search has revealed nothing but that's probably my fault !:rotfl: Anyway, could someone help with my 2 questions please: 1. When calculating The basic Personal Tax Code do I just knock off the last digit of the Personal Allowance or is there some sort of rounding up…
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PILON and 40% tax
I'm trying to understand what tax I will pay on my 3 month PILON payment. Example below, figures are just a guide. If you are a 40% tax payer so a percentage of your Monthly salary is paid at 40% - What happens when you get paid PILON. For 3 months will anything above the threshold attract a 40% tax banding , if it was…
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Amazon Marketplace VAT Question
Mr Fallen is registered for VAT, so it is important if he buys stuff that the seller sends a VAT invoice. Sometimes sellers forget, but it's a simple matter to call or email them and one is usually sent by email next day. Having a LOT of problems with Amazon Marketplace though. Limited Companies selling on there, who are…
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40% Tax Question?
Hi all. I have asked a similar question in the past, but somebody I know has recently been told the complete opposite to the advice I received in the past. I work quite a lot of overtime - some months more than others. My question is, does it matter when and how much I submit my overtime claims? If, for example I had a…
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Tax on estate Interest
Help me if you can oh wise members! I am dealing with an estate and need some tax guidance. My mum died in 2005 and left half of the house in trust to the beneficiaries on the condition that my father could live there until he died. he has now passed away and the estate is being sorted. as part of the setup interest was…
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Paid too little tax on PAYE - any advice?
I recently had an unpleasant letter from the Inland Revenue, telling me that I paid too little tax for a couple of years a little while back. I wondered if anyone could offer any advice. I can't quite tell why I paid too little tax. I've been in the same job since earlier than the trouble started, am on standard PAYE with…
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The dreaded D0 Tax code - Advice please
Hi there I was on a full time secondment(which ended March 2013) and have now reverted back to my original job at 36 hours a week (it used to be 37.5 hours) and will still continue to be seconded for 3.5hours a week. I am paid by my main place of work who then invoice my secondment. I have received a letter from HMRC…
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Some advice please
I hope someone can help. I have recently finished work due to ill health, i came to an agreement with my employer to end my employment with a years pay. I have recieved the 12 months pay but they have deducted tax and NI, i didnt earn enough to pay tax and NI and the pay off is still below my tax allowance. Is this correct…
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Trying to request tax repayment online.
Hi, I hope I'm in the right place to ask this question! On Monday morning I completed my husbands tax return online as he had received his p60 from his employer. He was self employed up until Dec 2011 and was late filing last years return so we were told we would need to do one for 2012-2013 as well. It is showing he is…
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Class 2 nic
Hi there, I have a full time job and a part time hobby making stickers, T shirts and decals. My hobby makes sales of say £1-1,500 per year. Do I have to pay class 2 nic. I know there is a threshold of £5,500 before you have to pay them or does that only apply to someone who is self employed as their full time job? Again…
