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Owe too much tax
Think I'm in a muddle Today I paid over 10k in tax for 12/13 & 50% poa for 13/14 This is 2-3k more than I paid in 11/12. But I earned 3k more in 12/13 However, I hadn't saved up enough tax money & had to use savings :( Which makes me think I've not put enough away. I put away 1/3 for all earnings Now, if I paid 12/13 & 50%…
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Proving no income
How can I prove I have not worked nor had any income for this year? Thanks for any help.
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Gone freelance halfway through tax year
Hello, I got my P45 from my previous PAYE job that I'd had for a few years on the 31st Dec 2013. I started a few days of freelance work on 6th Jan 2014, and I've just registered as self employed on the HMRC website. I don't expect my freelance work to amount to much, perhaps a few thousand over a whole year. So for the…
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Last minute Self Assessment glitch
What does this mean: Our records show that your 2012-13 PAYE Notice of Coding includes an adjustment for tax underpaid. Underpaid tax for 2012-13 included in your tax code for 2013-14: £ 0.00 If this figure is not correct, select 'No' and you will be given a chance to amend it below.* I don't seem to be able to jump over…
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3 tax q's
Hi just few tax q's to help complete my s/e tax return... Is 'room as office' still £3 a week? Mileage 40ppm for first 10k miles? For bank interest do I add in cash isas & ss isa? In the same place as bank taxable interest area? If so, can't remember adding it in last few returns will I get done? Thanks
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SA (mis)calculation of student loan repayments in final year of repayment
Last tax year my income contingent student loan was close to being paid off completely via employer deductions. SLC wrote to me advising I could avoid overpaying the loan by switching to a Direct Debit arrangement which would ensure only the amount due would be paid, and they would send a stop notice to my employer to no…
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Help-first time for me on property rental tax SA
Hi Im hoping some of you lovely people will be able to help me with property rental tax / Self assesment. Last year we decided to move house but due to the market decided to rent the property out with consent to let from Nationwide. The 2nd April 2013 was when i received our first rental income from tenants, a few weeks…
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for employees that have to provide their own tools
Not sure if posted before, just found this by chance after finding out boyfriend has to supply his own tools http://www.hmrc.gov.uk/incometax/relief-tools.htm basic rate tax payers at 20 percent get 28 pound allowance if I have read it correctly. Not a massive amount but still better than nothing if you are laying out for…
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Daughter's contribution to household: taxable?
Before starting university and moving out, my daughter contributed an almost regular £140.00 per month towards household expenses. Is this amount taxable?
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Factor Fees a Tax Deductible on rental income?
As the title says, not sure if I can deduct factor fees from rental income? Filling out my self assessment online..
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Claiming 'flat-rate' milage allowance when SE?
Hi, I am self-employed, I have 1 van that I use 100% for work. Currently I claim all (100%) of my fuel/running costs on me SA return. I also claim CA. I cover around 25k miles p/a. If I claimed at the standard rate .45p/10k+.25p/15k) it would come to £8250. My actuall runnnig costs for the last year were £5200. As the WDA…
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£57 profit but almost £1000 tax!?
user error - sorry
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end of year tax and stock?
I started an ebay business a few months ago and have registered with the hmrc. at the moment I have been ploughing most of my "profits" back in to building up my stock. what will happen when I file my tax return, will I get asked by the hmrc how much stock I have on 31/03/14 and then taxed on the purchase value of my stock?
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Claiming back Mobile Phone expenses for use at work
I work as a Home care worker. I already claim back expenses for petrol and washing of uniform for my job. But was wondering if it was possible to claim back expenses for using my mobile for work purposes? The company I work for do not supply phones for use at work despite the fact I frequently have to use my own phone for…
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2nd Income how much tax will I pay?
Hello all, I am hoping for some advise here please. Here is my situation: I work full time employed, & earn £16.500 a year. My additional income is expected to earn me £8000 a year. (Can vary due to value of Bitcoin/Altcoins) I am soon about to earn additional income through mining Altcoins (cryptocurrency). Related to…
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Most tax efficient way of buying car-self employed
I will probably need to buy a new- to me -car in the next year or so. I am self-employed and work all over the country, so do a lot of miles which I am reimbursed for by my clients. My question is can I claim the cost of a car against tax on my self assessment tax return? I will spend up to 5k on a car. A colleague told me…
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Problems with HMRC
Hi folks, I was hoping to get some advice on how to proceed with a complaint against HMRC. The background to my issue is as follows. I started a new job in the middle of sept 2013. As I didn't have my P45 in time for starting my new job the HR dept in my new place of work placed me on the emergency 0T tax code and when I…
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Gift money or gift home - IHT and CGT advice sought
I recently negotiated with my mortgage provider to accept a shortfall on my mortgage but I was required to sell the house to do so. To speed up the process, my sole parent (remarried) has purchased my house and I have paid the shortfall to the mortgage company. The mortgage company were happy with this arrangment. So now…
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Tax Relief Cap on Pensions
It says: http://www.hmrc.gov.uk/incometax/relief-pension.htm What happens if you don't pay tax? If you don't pay tax you can still pay into a personal pension scheme and benefit from basic rate tax relief (20 per cent) on the first £2,880 a year you put in. In practice this means that if you pay £2,880 the government will…
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Online advertisement and tax
I tried really hard to find where to post this and I am still not sure if this is the right place. If not, apologies and do let me know where to take this question to! I am considering creating a Wordpress blog on which I may display advertisement (AdSense, etc.). This is not something I have done before and am not sure…
