-
Can I give my mother money without incurring tax
I want to give my Mum £8,000 (for personal reasons). Can I just transfer this money into her bank account without her paying tax on it? I know the gift tax rules, i.e. you can give £3k max a year to avoid inheritance tax. But I'm not doing this for inheritance tax reasons. I'm only 35 so hopefully I won't be popping my…
-
Best way to avoid inheritance tax
Hi folks, Unfortunately about a month ago my grandma passed away:( My grandad now is thinking about sending us some money to avoid inheritance tax that we would have to pay. It seems as though he and my mum have been talking about this and they've been contemplating the best course of action. As far as I know, his…
-
Redundancy and Tax Rebate Question
Hi, My husband recently got made redundant at 59 after 39 years in same job. He came out with two years salary plus a bonus. He normally pays standard rate tax but because of this payout he paid approx £25,000 in tax !!!!!! He has a pension but is hoping to supplement it with a job if he can get one. However someone has…
-
UK Tax Return
Hey guys, is there any way I can get a tax return whilst working in UK?
-
Tax on Income drawdown
My mother went into Income draw down in Sept 2013. Her state pension for the 2013/14 year is around £8600. The income she took from her SIPP was 2200 (which was taxed at 20%). I think allowances applicable are 10,500 Her only other income is from savings interest. Is she due a tax refund? If so, can she contact the tax…
-
CGT and emigrating to Oz
Sudden panic, we're a bit naive. Our house is on the market, we are moving to Australia. My husband becomes an Australian tax payer on 12 Novemer 2013 which is the day we fly to Sydney; I will be living in Australia but must remain a UK citizen and paid by the UK govt until 1 June 2014 (I am using various saved up leave…
-
Income Tax and NI - possible employer error
I am currently contracted to work 15 hours at my job, but I am working an extra 13 each week and filling out an "additional hours" spreadsheet, bringing the total to 28 hours. This has been the case for approx 6 months and I've never had a problem until last month when payroll only paid me for my contracted hours and…
-
Chargeable Expense or not?
Simple Question. I was recently invited to an industry annual dinner. Can I claim the mileage?
-
Tax on health benefits
Hello all, Is tax paid on health benefits at the same rate I pay tax on salary (provided the value doesn't take me into a higher tax band)? I understand that the value of the benefit in this tax year would be deducted from my tax free allowance next tax year but provided my salary + value of benefit remains below the…
-
went to file first VAT return.....
Registered for flat rate vat ok ( have had " Approval to use the Flat Rate Scheme " letter from HMRC ) Went to file return today, expecting to just have to fill in 4 boxes, but there is about 8 :mad: Obviously the link they set up sends me to normal Vat return....there is another link if you are on FRS, but that just gives…
-
personal tax allowance 2015
Am i correct in reading that the 'unused'personal allowance of a spouse will be allowed to be transferred to the other spouse? eg pa 10500 pension is 5200 so there is 5300 'unused' and this can be added to my pa to top it up to 10500 plus 5300 (15800) ?
-
Inheriting a House & Savings
Hello everyone! I'm new here. I have a question regarding Inheritance and Capital Gains Tax. Unfortunately my mother-in-law has terminal cancer and since the diagnosis my m-I-l and my husband have been worrying about her house and a small amount of savings that she has, as she wants my husband to get as much as possible…
-
Gift Aid Back Date
I've been giving to various charities under the Gift Aid scheme for some years now. However, I am a 40% tax payer & I have not been diligent in keeping HMR&C informed of my contributions. I understood from an acquaintance that it was possible to submit a claim to HMR&C for the increased tax release due to me going back up…
-
Self assessment - reduce payment on account
2012 - 2013 is my 2nd year submitting self-assessment tax return however the first year I didn't have any additional income to declare to effectivly this is my first time. I'm declaring additional income as I also work full time on salary (PAYE). I've entered all the information I need to for 2012 - 2013 and I have my…
-
Sharing interest from a joint account
I know normally interest from a joint account is shared equally between the partners. However I remember something from my (dim and distant) tax exams that it is possible to inform the bank that you wish all the interest to be deemed to be earned soley by one person. Does this still exsist? Are there any restrictions? I…
-
taxed on tax
i got my phone bill this month as normal. however i didnt fully pay off last months so i had an outstanding balance of £10 carried over. but the Phone company has added vat to this despite it already having vat included in it, is this correct. the maths is my bill is £24 + VAT total £28.80 i paid £18.80 off last month…
-
child benefit - self assessment
hi seen the news today re the self assessment for child benefit. is this for last tax year? we started getting child benefit only in may. ta
-
No income tax...can I claim back taxed interest on savings?
I currently have amassed some good savings and as a 0% income tax payer I am wondering if I should be declaring my income or similar in order to not be charged tax where I shouldn't be? At present I have an ISA, a SIPP, 3 current accounts and 2 online savers, three of which pay very little interest but 2 of them have…
-
Council Tax on my mum's property after she died
Hi, wondering if anyone can help. My mum died June 2012, she left a small flat in a retirement block, which has been up for sale since Jan 2013, sadly there has been very little interest in the flat. So my sister and I are now paying full council tax, plus service charges on the flat while it remains unsold. It infuriates…
-
Can I use 'rent a room' for my house but expenses basis for other property?
In my house, I rent out 2 rooms. I also rent out a flat. I started this last year, so my first tax return is due in a few months time. I am hoping I can use 'rent a room' for my 2 lodgers, which effectively means roughly paying no tax on 1 of them, but the full 40% for the other 1. I would then like to treat my flat as a…
