-
What if a cheque isn't paid in 'in time'?
Sister dug out a cheque... Note the 6 months & how we're now past that. Does she have to get back in touch with HMRC (through which channel as they have a maze of contacts)? Or could she go ahead & cash this? Or is it case of, tough luck, you had plenty of time?
-
Import duty and VAT
I currently live in Vietnam and in January, I'm coming back to the UK to visit my parents. I'd like to buy something from a South Korean company, but ideally, I'd like to avoid paying the full import duty and VAT on something that I'm going to be taking out of the UK within two weeks. I know its possible to claim back VAT…
-
How to include tax year 2013/14 into this year's assessment
I was self-employed but not working from March to September of this year. I'm now back on PAYE as a contractor. As I didn't earn anything this year when self employed and I'm hoping to stay on PAYE I'd like to just finish all this self asssessment this year but not 100% sure how to do it. I presume I will have to get my…
-
My little ebay business & tax
Hiya guys, *Would* like to avoid using a book keeper but I'm scared of getting this wrong and owing money I don't have as I've reinvested it etc. I was told originally that all I needed was to keep a record of sales - purchases = profit I figured I paid tax on profit & this was the figure I used. Recently found out that I…
-
Consultant or Employee
I have the chance of getting an additional job from which I would earn approximately GBP20k per year. I am already a higher rate tax payer so this job is in addition to what I already do. My question is if there is any benefit from being employed as a consultant for my 2nd job or to be an offical employee, so I suppose…
-
Claiming tax on a laptop purchase
I am hoping someone can help me with some advice relating to a laptop and income tax. I am needing to purchase a laptop for a job as my employer is unable to provide this. I will not use this computer at home so I am wanting to know can I claim income tax relief on the purchase and if I can, how would I go about this?…
-
Income Shifting - What is allowed
Hi, I have researched this topic and have found quite different opinions on the subject and have also read HMRC are clamping down on various different income shifting methods. Could someone clarify if this is allowed. I am a director in a small limited company and own a percentage of shares in the company. (ordinary…
-
Self Assessment Help - Mileage Allowance
I have again left my Self Assessment to the last minute and i am struggling to remember what i have done the previous times to work out my tax. I am an employee and have my PAYE / P60 to hand.... Where I am struggling is with what I am entitled to enter for the mileage i have done for work. I didnt a total of 22,231 miles…
-
help with self assessment form
Hi I claimed a PPI refund and was paid the interest, less tax, the company sent me a R185 form, I am confused as to where I should enter the details on my self assessment tax form, I tried looking at the supplement page for trusts and assets, but cannot make head or tail of what applies, I have no actual earnings this…
-
Self Assessment calculation (surprised)
Hi all! I'm currently filling in my Self Assessment tax return, and was surprised at the calculation at the end. I'm a freelance writer and have made £1,960 in the 2012-2013 tax year. I have total allowable expenses of £210, creating a net profit of £1,750. At the end, the calculation has said that I owe approximately…
-
HMRC Judgment Debt
Longggggg story cut short........My friend was fined by HMRC for not filing his tax returns for a a few years. Case went to court.....the original sum on the particulars of claim that HMRC wanted was approx £10,000.00..............but a few days before the hearing he received a letter from HMRC advising that they have…
-
Property Transfer of Ownership & Income Tax
Hi, My wife and I are considering paying off our joint mortgage. We currently rent our house out that the mortgage is on, and we live in a rented property a few hundreds miles away where my wife works. My wife is a higher rate tax payer, but I'm a stay at home dad. I know that I still get a tax free allowance £9440 this…
-
Inheritance Tax Advisor
Please can anyone suggest to me how to find a good IHT advisor? The main site gives various links but it seems to me that one is then left with little to go on other than geographical area and pot luck. Is there no source of reliable genuine information on experiences of clients? (I view with suspicion the testimonies…
-
Round up all income/expenses or just totals?
I have just gone through all my income/expenses and calculated all individual income/expenses including the pence without rounding to the nearest pound, e.g. £55.08 and NOT £55. I have rounded off the total figures of income/expenses but after reading around I think I may need to recalculate all figures based on rounding…
-
B or C Share options for Tax?
I know everyone is different and I intend on seeking advice of a FA, but I just would like to hear other people’s views who might have been though the same thing? I’m a higher tax earner, earning about 50k a year and receiving child benefit for 2 children, and I have about 21k in shares, but about 20k of these have not…
-
Do I pay capital gains on property as soon as its sold?
Hi guys, I'm selling a property which is due to exchange contracts on 14th Jan 2014 and then complete a month later. I have worked out I'm going to end up owing Mr Tax Man around £900 in capital gains, my question is do I pay this the day after I sell the house or can I leave it and fill in a self assessment form by Jan…
-
Wrongly summoned (Council Tax)
Hi there, I apologise if this is in the wrong section, but I couldn't find the appropriate one. Basically, when I started my job I get paid 1 month in arrears. So in the month of October, it wasn't possible for us to pay our council tax. We called up the council and we agreed to pay 1.5 months in November and in December.…
-
Help with child benefit self-assesment
Has anyone seen a really simple how-to on this im really confused. thanks
-
Stopping full time paid employment - tax implications?
Hello, I've decided to stop working. I'm going to be leaving my permanent job next month and taking some time out for possibly 1 year or more. I have considerable savings, and my wife will continue to work. Initally I plan on doing no paid work at all, but I may get involved in a small amount of freelance work after a few…
-
Old Council Tax From 2012 Haunting Me!! HELP
Hi All, I am in desperate need of some advice regarding Lambeth council tax from back in 2012, it is very complicated but I will make it as short and concise as I can. I moved into a shared rented house in October 2011. I moved out 28th March 2013. The house had 5 bedrooms and 5 tennants living in it. I was living in the…
