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2nd payment on account lower on Tax Calculation
My 2nd payment on account for 2012/13 on my SA Tax Calculation is a lot lower than on my Self Assessment Statement which I received about a week earlier due to a lower turnover than 2011/12. Do I have to pay the assessed amount as shown on the statement or is it OK to pay the actual amount - or do I need to complete an…
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vAT question - any accountants?
Hi. In short, when raising invoices for services provided where expenses have been incurred and are to be paid by the client, should VAT be added or not? Longer version : lorry driver providing driving services as a VAT reg'd ltd co (flat rate scheme), mainly working for agencies and driving for their clients. £10 top up…
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In need of some tax advice
Hi all, I'll keep this as short as possible, im in need of some tax advice please. I'm from the UK I own an online company i used to work on part time which i have since started full time this year. When i do my tax at the end of the tax year its going to be 40% As its an online company is there anyway to bring that %…
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carry forward tax loss after BR??
In 2012 I became bankrupt, ( now discharged) my question is can I carry forward tax losses from the tax year 2011/2012 to my current self employment.
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Self employed and child benefit
Hi everyone just checking something I have searched everywhere but am struggling to find an answer. My Husband is selfemployed and had a net income of 51000 in the last tax year and his profit worked out to be around 36000 will the new child benefit taxable amount be on his profit or income, on the tax form it says income…
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Double Taxation
I am trying to get my head around the following situation regarding a double taxation convention between HMRC and Ethiopia (http://www.hmrc.gov.uk/taxtreaties/news/ethiopia-uk-dt.htm). 1. A person is dual resident in UK and Ethiopia. I think from reading the convention that under the tie-breaker rules this person counts as…
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Underpaid Tax
Hi guys, I received a letter (p800) from hmrc about 6 weeks ago saying that i had underpaid tax for 2011/12 by £208 (which was when i switched jobs) and my tax code for this year would be adjusted to 839L and they would contact the jobcentre, which was fine and i understand this. I now have received a letter saying that…
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Council Tax bill sent with a delay
Hello everyone! Although I have not written on this forum before I found it very useful on a number of occasions. This time I could not find an answer to my question though. After I have moved to a new flat that I rent, I have sent an on-line request for an account on council web page and provided an information including…
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Cgt jointsecond home
Hi brother in law helped his parents buy their home 1979 £8K. He had half share and lived there till approx 1995. Parents have both now passed away and house has been sold for £200K Will states that he gets his half share and rest is split between his brothers and sisters. Is he liable for any CGT, if so how much. I can…
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Claiming Tax back
Hope this is in the right forum, anyway here goes. I work on a part time contract, minimum of 8 hours per week, on 2 occasions I have worked overtime doing nightshift and when I got my wages for those weeks I was taxed. I thought that there was a tax free allowance we are allowed to earn up to, £6,000 or £8,000 and seeing…
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R185e questions
Should an executor issue R185s automatically to all residuary beneficiaries, or is it only necessary for those who request one unprompted, or should they all be offered one? The estate that I am administering has made distributions in the tax years 2010/2011 and 2011/2012 with a final distribution to be made in the current…
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Tax question
My dad has recently passed away and me and my mum are executors and in his will he leaves half our property to me and the other half to my mum. He also has left savings of 115k to her which she wants to give to me as a gift on trust so I can look after her and the house. Are there any tax implications in this? She also has…
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Self Assessment Tax Return Foreign Dividends
I'm in the process of filing my self assessment tax return on line. I have a foreign dividend which is just over £300 and therefore necessitates filling in a supplementary foreign page entitled “Dividends from Foreign Companies”.. Here are the questions it's asking Your ref for this income - I have filled in Name of the…
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Tax relief on Hire purchase car allowed?
[FONT="]I plan to buy a car partly for business use and partly for domestic use. The car will be bought on hire purchase agreement, with a lump sum payable up front, a monthly payment for 4 years and then a final lump sum payment to acquire the vehicle at the end of 4 years. Can I claim tax relief on this car purchase?…
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Do gifts attract income tax?
Hi there, i'm self employed, but in a charitable role where lots of donors give to me directly. Most of these donors are friends. If these gifts are paid directly to me, are they be liable for income tax? Thanks.
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Personal Tax vs Corp, when you own the company!?
I run a small limited company with my wife, the business does not make a profit in fact run at a lost for a few years, so we lend our money to help pay the company bills. We keep careful track of this money and ensure every penny lent is recorded, in our accounts. My question is this: every year I get to decide how much…
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Rebate for Washing uniform
Recently discovered I might be able to get a tax rebate for washing my work uniform. My work cloths all have a company logo on trousers, tshirt, sweatshirt, fleece. After reading the page on here about it is that all I have to do just write a simple letter asking for a rebate. Should I include my national insurance number…
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Healthcare worker tax rebate
Hi, I apologise if this has been asked several times, but I have seen so many sites with information but no forms from the tax office to claim uniform, shoes, tights, fees etc. I have seen sites that charge, but I would rather do this myself. Where do I start? What info do I need provide. Thanks everyone :D
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Capital Gains Tax on 2nd Property
Evening all, Last year I purchased a flat with money that I created by re-mortgaging my first property (I had lived in the first property for six years, it is currently rented and I plan to sell it within the 36 months allowed to avoid CGT). My second property has required a lot of work and I have been living with my…
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BR tax code
Hi I earn £22,100 in my main post, I have a 2nd job working bank shifts 3 Sundays a month and up until April I had a tax code of O818L0 and BR for my 2nd job. I paid roughly £240 tax pm on my main post and £16-£18 ow on the 2nd post. Average weekly wage is £110 . Tax office switched codes in April and I was paying £400+…
