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HMRC Think I Have Two Jobs
Hi All, I'm not very good at tax, but I know when something is very wrong! I received a letter on Saturday about my new tax code, however I had two letters in the same envelope. I was made redundant in 9th August and started my new job on the 12th August. My old employer took a while to send my P45, but gave that to my new…
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Problem with HMRC Self assessment site?
Has anyone tried to log into HMRC lately for self assessment? Whilst it seems to log on if you continue with 'next' to your details it comes up with message this in both Firefox and Explorer browsers. This seems to be intermittent since I have got in, but pops up most of the time.
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Lost job mid way through the year, can I set up as self employed and offset my tax
Hello, I lost my job in October this year, now I'm setting up my own business where I'm working mostly from home and the income for the rest of the tax year will be small if any and most probably be at a loss. Can I offset my losses as self employed with the taxes I have already paid as PAYE? thanks
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ir35
Hi Being made redundant in may but employer has offered to give me 18 months of work for them and two associated companies for 18 months on a day rate. Looking at posts on here I plan to set up a limited company and proud services to these companies to avoid ir35 taxation if this is possible. I think I can set it up this…
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Tax Advice on Forms Please
Son has just started his first job after graduating and had his first payslip - Tax Code shown as 944L -which would be fine - HOWEVER He made some money earlier in the tax year that was paid direct to him and now he needs to declare it. What forms does he need to do - is it register for Self Assessment? It should only be…
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Hmr say i owe over £300
I retired in August 2012. I was 73 when I finished. I paid tax via PAYE on my salary and on another small pension from a previous employer. This ran normally for over 20 years. This April I received a letter from HMR saying I owed over £300 and they would start taking it from next April. I am now on a limited income and…
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Tax Advice please
Hi, I recently left the Armed Forces and receive a pension. I also now work full time. I was wondering if I can automatically pay the right amount of tax. My pension is £10063 per annum and the tax was 944L. My salary is £31082 per annum and the tax code is BR. That is all fine and dandy until I do overtime as the company…
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Hypothetical Inheritance Tax question
Just a hypothetical question.... Myself and brother will definitely be liable for IHT at some point in the future. If we choose to pay it over 10yrs as annual installments (with interest) rather than as one lump sum and then at some point during the 10yr period the laws on IHT change and it's abolished eg. say after the…
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Additional Tax On A Gift?
I'm in the lucky position of being offered a reasonable sum of money as a gift from my parents. Their, and my only worry is what are the tax implications? I currently pay tax at basic rate, will I have to pay 20% on this gift as well? Even worse - if the gift brings me into the higher rate - will I need to pay 40%?
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help understanding P800 tax calculation
Hi I hope this is the right place for this. Earlier today I received a P800 tax calculation. I am always careful and check i'm on the correct tax code. I took a temporary christmas job last year and submitted a P45 a bit late so was on emergency tax, that was no problem as i knew i'd get a refund a few months later, which…
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What does 'X' mean, and why?
My tax code appears to be the standard tax code followed by 'X'. I started a new job around 5 months ago. I gave them a P46, and they said this was all fine. I queried the X on my first payslip, and was told it was a typo. Now they don't seem to know what it is. Googling, it looks like it means my tax is worked out…
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Self Employment Tax Advice
Hi all, I was just wondering if anyone out there could offer me some tax guidance? I've been self employed for a couple of years now as a graphic designer and I have been working from home, my registered place of business. Up until the new tax year this year, I didn't earn enough to pay any taxes on my self assesment and…
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Reducing tax on possible 'sale of goodwill'
I am thinking of running down my Ltd company. Formed after 2002. My ex working partner is interested in taking on my customer base. Lets say he will pay me 50k (10k per annum for 5 years)- these figures are made up My accountant says that this would be shown in my accounts as 50K in year one for 'sale of goodwill' and I…
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Council Tax Summons
Morning. Yesterday i received a 'summons for non payment of council tax'. Not sure how, because this is one bill i try to pay on time, but it seems i may have missed one or two payments this year. I had just made a payment online the day before. What do i do now? I cannot afford to pay what i owe in full, £413 plus costs,…
