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Im a student and earning over 10k
Hi there, Come September I will be a nursing student earning over 10,000 pounds. Will i pay tax? I currently get £300 DLA and earn from £200-£300 a month working. So my current income is £6000 to £7200 per year on average. My nursing bursary will be roughly £6500. So in the event i earn £13700 a year will i have to pay…
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Tax and company car for disabled person
Hi, I've read that there is tax relied for disabled individuals needing a company car. However having read the whole HMRC section several times it just looks like gobeldy gook to me. Can anyone explain it in simple terms please? Thanks:beer:
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Working From Home P87
Hi All, I've read several threads that contain snippets of the information that I'm trying to find out, but this, along with speaking to an accountant has probably ended up just confusing me even more. I've just completed my first year in a job which requires me to work from home. I have a £6000 car allowance which is…
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RSU's and UK tax
I have recently started a new position which gives me access to RSU's as part of my package. I've tried reading some articles on it from HMRC, but they make no sense what so ever! Can anyone help in explaining what the situation is regarding tax/NI deductions? The wording on my contract states: "We will request that the…
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Employed and also being self employed..
Hello Apologies if anything like this has been asked before, I've had a search around and haven't found an answer for what I'm looking for. I am in full-time employment and have recently joined 63336, where you are self employed. My question is about tax - Would I have to register as self employed and send in a tax return…
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2 jobs, under 30 hours?
I've just started a second job as neither of them are willing to give full-time shifts. I'm only working a total of 24 hours and earning around £8,000... Will I still be taxed, even though I'm earning so little? I don't currently pay tax on the first job, but have been told you are taxed on your second regardless of how…
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Help understanding tax
Hello :) I've now been in employment for 8 months now and beginning to rack in plenty of overtime. Next month, I'm estimating that before tax i'll earn £1100. April pay was £842 and May should be about £850. I know I will be paying NI contributions, but when does the tax kick in? Under my previous Emergency code, after I…
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Why these Tax Codes - in easy terms
Hi, Query about my Tax Codes in easy terms. I have 3 pensions per month. State pension Final salary pension Private pension All grossed @ £1460/mth But I have 2 Tax codes, BR is linked to my State and Final pension, and then K156 linked to my Private pension (Starting this Tax year), previous Tax year 47P. I've had no…
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First SA and mileage/expenses query/confusion.
Hoping someone can shed some light for us if possible please :-) My partner is now self employed and freelances for a company that he used to be at as an employee. His job involves a large amount of driving which he is allowed to invoice his old company for, although this is capped to a daily amount of £40. Most days he…
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Claiming tax refund after making a loss
I closed my business last May and made a loss of £3k in April and May. I am completing my self assessment for 2013/14 and would appreciate a bit of advice. After putting in all the income and exp figures the £3k shows as a loss. If I just enter the loss in 'loss to be carried back to previous year and set against income'…
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Starting a new business - a couple of questions please
Hi, I'm looking at starting my own business soon and just looking into what you can and cannot claim as Allowable Expenses. I've been reading on the HMRC website and just want to confirm a few things if that's ok? For example - under allowable expenses it states that this includes 'the cost of goods bought for re-sale'. I…
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Paid more tax in April ??
Hi all, Just wondering if someone can advise ? i get taxed the same amount each month give or take a few pounds but in my April wage slip i was down around £40, do they balance it out over the year so if your down in what you have paid overall this year they then take it out in April the last month of financial year to…
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can a employer make a employee pay employer ni as well as employee ni
Can a employer make a employee pay employer ni as well as employee ni as the company iv been doing some work for has just started doing this, i have a utr number but there saying everyone has to be paye now to do with new rules so i would be paying ni twice every week and that dont make any sense to me ive just had a tax…
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Company car tax
Probably clutching at straws, but here goes.... If you have a company vehicle (van), which you can use for personal use, and you receive benefit in kind (can use fuel card for personal use fuel), is there anything you can do to reduce tax liability?
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Paying additional income into SIPP
Hi all, I'm an employed 40% tax payer. If I then earn some money from a sideline and pay that into a SIPP I was wondering if my workings below are correct - it seems too good to be true. ;-) E.g. Earn £2000, with expenses of £800. Profit £1200. Option 1: declare income in tax return, pay tax of £480, keep balance of £720…
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Self Assessment Rebate Security checks??
Hi All New to here but joined to ask my question, Ive just had my yearly self-employed tax return filed by my accountant same as every year and the previous 12 years. I usually get a rebate most years for cis suffered against expenses. This year my rebate is larger as ive earned more and i bought a new van so my rebate is…
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Property letting tax help
Dear All, If I rent out a property I own starting in February of the year, is it correct that the total loss made in that tax year can be used to offset against tax for the following year? E.g. If net rental income for the tax year is £500 (two months worth as the rental began in February) and total mortgage interest from…
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Coding Notices
Hi I rang HRMC as I had not received a coding notice. Anxious as I also received the state pension and work full time. I was advised they no longer send out. How can I check that it is correct? many thanks PS I've had to re-register but have posted many times before but not lately - couldn't remember pass word (!) and it…
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Seeking a refund on interest
Hi, Just looking for a bit of advice. Long story short... My tax codes were incorrect, after speaking to the tax office (Feb) and me explaining that I have no money & am about to get into problems i was told I can have a mid tax year rebate (circa 2K, to solve all my problems). This would be paid via my employer in a…
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Tax Return 2013/2014 Confusion...
Self-employed husband injured in RTA five months ago and has been in receipt of ESA contribution based since. We now have a Short Tax Return to complete for his years earnings to 5.4.2014 but would anyone know do the DWP issue any kind of P60 type statement showing the amount of ESA he has been paid? Or would we simply add…
