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VAT query - building work
hello I've got a query about paying VAT on building work being carried out on my home- I know the company Ive used are VAT registered as they are a large company, but just wondered if they subcontract a smaller company to do some of the work (eg tiling) and they aren't registered, do I still have to pay the VAT at the full…
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P87 - Tax Relief -Charity
Hi All, Simple Question, Can i use a p87 form to claim for, tax relief on vehicle mileage, when using my own car, when used in connection with a registered charity, where i am employed on a voluntary basis, where i pay in full for the fuel cost myself, Any ideas? Thanks,
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Tax on Bonuses
Hi folks, I work for a very small company and would like a bit of advice! I'm an agency employee, my boss wants to give me a bonus external to this but we are unsure of the correct tax procedures. I understand that NI and PAYE need to be paid but how much and by whom? any ideas?!? Cheers!!! GROSS WEEKLY WAGE: 337.5 BONUS:…
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Advice needed on proof of earnings for Self Employed for Tax Return
Hi, to put the situation in context, my mum was employed at the school I worked in, but has been registered as self employed for years, as at one point she had an eBay shop, which she made a small amount of money on. The shop has been closed for a few years and each year when the accountant has filled in a tax return there…
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Help with calculating take home bonus please
This is the first year where my bonus is going to push me into the 40% tax band including my gross salary. Current basic is £36,850 bonus paid this month will be £8,500 so any idea what I might take home this month after tax and NI? Then to further complicate basic will go up to £38,150 in January so will I pay 40% on some…
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Self Assesment tax return - confused!
Hi, Hopefully someone here can lend me two mins of their time and give me the benefit of their experience. I'm filling in SA for the 1st time, i've navigated 95% of everything i need to calculate and enter into the form (i think/hope!) One thing i'm really not clear on is where or how to enter a tax relief. I work from…
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Ltd Company to Sole Trader Vat on Van
Hi, I am a limited company who is winding up and returning to sole trading. My query is on vat on my van, will I have to repay it after deregistering for vat for my ltd co, if I am still using it as sole trader? Is there some way round this? Cheers Suzz
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Claiming back NI contributions
Can anyone advise me if its possible to claim back NI contributions as 'overpayments'. I'm on a low income and usually pay very little NI each month but twice this year my employer has managed to pay me late, thus getting no pay one month and then double the usual amount the next month - resulting in me paying a lot more…
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Help
Hi can someone please help me. I am starting a job. Where I am classed as self employed for a company. Even though I am self employed I am classed as a sub contractor for the company. If I need a mortgage how does this work and also I have not had my first wage yet, so what should I do about tax? Registering etc? Many…
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tax Q re underpayment
Firstly sorry i am clueless so apologies if i am asking questions that may seem daft to some of you, here goes...hubby has always worked part time and rarely gone over his tax threshold so we have never underpaid or overpaid tax until now....we have just received a letter to say he owes just shy of 600 quid for years…
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CGT as per Autumn Budget
Hello From April 2015, non-residents will have to pay CGT on their UK properties, I think, only taking into account any gains arisen from 2015 onward. Assuming the govt goes ahead with this CGT change... Does this mean if one decides to emigrate, leaving any UK properties rented might not the best way forward anymore? Will…
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Self Assessment -how long will I wait for my code?
I've been advised by HMRC to register for self assessment as they have decided I owe a small amount of Child Benefit Charge for 12-13. I'm registering late as having spoken to HMRC back in October I was advised that I wasn't affected (its borderline.....). They are going to send copies of all my paperwork (which was…
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How can I pay this tax?
I am retired. I have fixed income and I am not a higher rate tax payer. I recently earned £750 for doing a piece of work for my previous employer. It is a "one off" I do not expect to receive any other payments like this. Is there a way I can send the taxman a cheque for 20% of £750 without having to go through all the…
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CGT - title deeds query
Apologies for long intro, but I need to set the scene. I bought a buy-to-let 3 years ago, along my OH, my brother and his wife. We split the work evenly and the rent is split 50/50 between each couple. At the time we put the title deeds in my name only as it was easier for me to deal with the lawyers, and saved hassle when…
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Week 1 Month 1 tax code
Due to the job centre being utterly incompetent morons, I've received a P45 with this tax code (god knows why as they have all of my details and issued the correct P45 before I went on holiday). This obviously disregards all tax and earnings to date so taxes me 20% on earnings but my question is, is it taxed on the entire…
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uniform rebate how much?
I've seen a view template letters for this inwhitch they state how much they'd like to claim back? How do you work this out?
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Capital Gains Tax?
Hi there, My father owned a property where he lived, but which was also used as a business. The residence had four self contained holiday flats that were let out to people on holiday. He died a year ago, but the business has been wound up for a few years before that. The house is now being sold (circa £175,000), and was…
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Moved jobs, new income tax bracket
I have just moved jobs and because of a crossover in payments (I work in sales so I had commission off my last job), HMRC have written to me saying they expect me to earn more and have therefore moved me into the next tax bracket. I can say definitively that I will not earn that much, but is this something I can tell to…
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Tax efficient way to cash in employers share scheme
I've been looking on line to try and figure out how I can release the cash Basically I've invested £15k in the scheme in total over 5 years The value has gone up to £95k If I cashed it in I assume I'd get £15k (original funds) + £10.9k tax free annual allowance What tax would I pay on the difference? I understand I can…
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Inherited Property Issue
I am just starting to work out the IHT on my late father's estate but someone has raised an issue that has got me concerned. My mum died in 1993 and I inherited her share of the house. The ownership was then converted so my Dad and I were joint owners. The house has passed to me through survivorship. I'm fairly sure I can…
