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Capital Gains Tax on family home?
Hi There, I was wondering if anyone could give us a bit of advise on a family situation? My Grandfather passed away in the summer leaving the family home to my father and his brother. We wanted to keep the home in the family so my husband and myself have decided to buy it. My father very kindly didn't want his share so…
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Working in UK, Living in Norway (TAX)
Hi, I was after some friendly advice on tax when it comes to working in the UK but living in Norway. I currently work offshore in the North Sea on a 2 weeks on, 3 weeks off rota. I'm looking at moving from the UK to Norway but I will still be working in the UK sector and paying UK tax PAYE. Will my tax still stay the same…
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"payment on account"
I'm filling in my tax return for the last tax year and I noticed the following when viewing my calculation. I paid over £4000 towards the 2012-13 tax year with my last tax return. How do I get these payments on account deducted from the calculation.
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Student Council Tax
Hi, Me and my flatmate are both full time students. When I moved to my new flat I changed my address on the university system and they said they will send a letter to the council in regards to exception. I also sent an email to the council informing them we are both students. However After a while I started receiving…
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Confused with VAT
Hello, I'll be brief. I earn money online through being an affiliate for amazon and earn money through adsense. My question is how can i register and pay VAT if i cant actually charge VAT? For example being an amazon affiliate i cant control the product price etc as thats the sellers responsibility. So i don't understand…
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Shops accepting Euros
If a shop in the UK accepts euros cash for payment, how is their profit and tax worked out? Supposing they take euro coins at a rate of €1.50 per £, ie. if they would sell something for £2 they would also accept €3. Then once a month they sell the coins to someone going to the eurozone for €1.30 per £. Then they have…
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Income Tax Evasion query
I am curious as to the practical implications of completing HMRC's tax evasion form. I am considering grassing someone up. I know this doesn't sound very gracious, but I'm thinking about doing this for a variety of reasons, admittedly not all in the best possible taste. I will be considering the moral implications aside…
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self assessment - should husband/wife have same amount billed?
Hi All, My husband and I became landlords in the tax year 12/13 and I am (finally!) finalising the online self assessments for this. As we own the property jointly, I know that we split the income/expenditure 50/50. So I assumed that our tax bills would be the same, but there is a difference of £26.85! I can't work out…
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Council tax bill not making sense to me.
New to this so hoping someone can spell it out for me. I got in touch with the local council via email, explaining we had recently taken ownership of our house, however we hadn't yet moved in due to work needing to be done. It was not furnished & we wondered if there was any discount (the local council website suggested…
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Valuing the contents of a flat
I've just made an offer on a flat including its contents (i.e. furniture, white goods etc). Does anyone have advice on how to value the contents? A professional valuer quoted several hundred pounds so would like to avoid this if possible. This is so I can avoid paying stamp duty on that part of the purchase.
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Registered as self-employed...
I had a great idea to make loads and loads of money from a mobile application and went ahead and registered myself as self-employed as I didn't want to get into trouble. I figured as I'll just be paying tax on profit, I have nothing to lose. In hindsight, I should have asked first before just doing. My "business" has been…
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Self employed - how much tax to put away
Hi I have just taken a self employed job working 20 - 40+ hrs per week, working from home ( websites etc ) and wondered how much to put away for Tax and NI each month, is it roughly 25% or 20%? Do you take that amount from the gross amount each month or allow for your tax allowance and then take it from whats left? Can I…
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Tax on personal loan if buying shares in a company
Hi, A friend of mine was offered the opportunity to buy into his company but apparently to do so he's struck up an arrangement with the owner of the company whereby he loans my friend the money to buy on an interest free basis and pays him back over a certain number of years. How is tax calculated on that loan agreement…
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Urgh, late filing penalty
Hi all, I have been thinking about going self-employed for a while, back last year I was reading about self assessment etc on the HMRC website and I signed up just to see what I'd have to do, however I never registered my unique tax reference number or paid anything seeing as I just wanted to see how things would work.…
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PAYE - Self Assessment States I owe
Hi, I normally pay my tax via PAYE. Due to the changes in Child Benefit I now have to do a self assessment. I know that my pension contributions bring me below the threshold above which one has to pay some back so was not concerned. So I've done the assessment and it states I owe them about three hundred quid that they'll…
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underpayment of tax
I have a problem with HMRC trying to reclaim £2700 in underpaid tax for years 10/11, 11/12 and 12/13. I retired 5 years ago and was in receipt of two pensions after 18 months I felt as though I was not paying enough tax so I rang HMRC to report this. They told me that they would review my codes and inform the pension…
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CIS Payments
Hi Can any one tell me the formular for working out gross pay.ie Pay is 600 less 20% tax which makes it £480.But as I only have the net payments amount on my bank statments I need to work out what the gross was before the 20% deduction .Thanks
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Working from home
I'm just starting to tackle my 2012-13 online tax return. From April 2013 I have been working from home. According to articles I have read, I can claim £4 per week without providing any proof. It may be a silly question but how do I claim this? Is it just a matter of adding £208 to the employment expenses section?
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New ltd company director
I've recently become a director of my DH's limited company, but I'm not receiving any diretc payment. My own income is via PAYE. Does anyone know if I need to inform HMRC now or can I wait until I do my tax return at the end of the tax year (actually they don't let me do a tax return I have to send them a letter to get my…
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P60 & Records
If anyone could shed some light on my 2 questions I would be grateful 1 If I ask the tax office for all my P60s dating 2000 - 2010, will they give me copies? Also: 2 If I walk into a tax office and asked for them to clarify my past records, would they do so? thanks
