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CGT for non-residents
Hi all, I am a British citizen living abroad. I have UK shares which I inherited before leaving the UK and I am trying to understand the capital gains tax implications, in particular regarding my annual exemption. I will be non-resident in the UK for a few years, but it is entirely possible that it will be for less than 5…
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Driving Licence-tax deductable ?
My driving licence is due for renewal so is going to cost me £20 renewal plus recorded delivery plus say £5 for new photo. Can i claim this against tax as i need to drive for my job -we're talking paye not self employed? rgds George.
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Avoid tax on rental property
I rent out my only home as i had to move elsewhere due to work commitments. The mortgage is 750 pcm, and I get 1000 pcm every month ( 928 after the rental agency fee is deducted). My understanding is , the 178 gbp difference ( 928-750) is taxable. Can i overpay my mortgage to avoid paying tax on this?
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When does self assessment for 2013/14 go live?
As above really, I keep getting an error when I click on "File return", so was wondering if it's down, or just not live yet?
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Gift Aid question - end of tax year
Today is the last day of the tax year. Suppose I send some money to a charity by FP. Does that count as having happened in 2013-14 because I did it today, or as 2014-15 because it's not a proper banking day until Monday? Any info gratefully received. Thanks.
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Council Tax Problem
Hi All, Not sure if I am in the right board but if I am not sorry in advance. In 2012 I moved out of the family home and was not aware on the council tax bill as my name never appeared on the the bill. I moved back in 2013 (long story) and had to have my name on the bill as proof I lived at the address for my car…
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Earned/Received taxable income query.
Hi, my son is presently self employed and we are preparing for completing an online self assessment. My query is.... is his income for the tax year 2013-2014 based on what he has earned or what he has actually received. To explain , he is paid for contract work in two week blocks , the latest being 16/03/14-29/03/14 and…
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Tax on website rental
I've been asked to rent my website name to a company on an ongoing basis for £10k per year. I already pay a small amount of tax at higher rate as an individual. I haven't got a company but if required could set one up. As I am renting / leasing a website to someone, this could actually be me providing a service that allows…
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Capital Gains Tax Query
Hello - my mum and dad bought their house in the early 1980's for £22k and they divorced some years later. In the divorce settlement they are both entitled to 50% each of the property - my mum and I both live in the property and my dad has remarried and has another property with his new family. My dad is offering to sell…
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Tax refund - New system?
Hello all, Due to starting a new job mid tax year (sept time) I was put on the tax code 'BR'. I've earned well under the personal allowance, and have nothing else taxable for the previous duration of the tax year, JSA etc. I should be in line for a tax refund, and phoning HMRC I was told the system is now automatic, and my…
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Paying HMRC money by Chequ, whom is cheque payable too?
To pay Hmrc, income tax (for some unpaid due tax) with a cheque then whom is the cheque payable to? who is it made out to? Cheque will be the only method of paying.
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Rental Property
Afternoon, I bought a property in 2006 and lived in it for 2 years. When I met my now husband, I began letting it out in 2008. As from next month, I shall be moving into the higher tax bracket. My husband is a 20% tax payer. To avoid paying higher tax on the property income should I put the property into both names? How…
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How to work out exact budget on car allowance
Going onto car allowance shortly, and have been doing some sums etc and not sure if this is the best way to work out my exact month allowance that I will actually take home. (I have used general sites that go on 20% or 40% basis but some of the allowance is 20 and some 40 for me)... So Using this site:…
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10% Tax Rate on Savings Income
Here is an extract from one of the budget commentaries to give context to my question: I have a question regarding the calculation of non-savings income as mentioned above. Are pension contributions deducted before calculating non-savings income? For example, if gross earnings are £25,500 and grossed-up pension…
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Giving Stuff to Charity Shops
Can someone confirm if I'm correct on this, or correct me if I'm wrong please... 1) Giving, say, £50 to charity, and giftaiding it, can be written off against tax on a tax return. 2) Some charity shops take your old stuff, "sell" it "on your behalf", and keep the proceeds (after sending you a letter asking if you want to…
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Capital Gains Tax in negative equity?
I so hope someone can help me out and stop me running around in circles! Hubby and I bought our home in 2001 for £80k. We lived in this house while building our new bungalow and currently have a mortgage on that first home of £154,000. We are hoping to sell this first house in the summer and have been told to expect no…
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Sterling Umbrella
Hi all, hubby has been being paid for work through Sterling CIS, and has received a letter saying that he (and his workmates) are to be paid by Sterling Umbrella from now on. The letter stated that he would be paid but had to send in expenses forms every week (whereas he has usually just gone to an accountant at the end of…
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loss of personal allowance above £100k
if my taxable pay for 2013-14 was £109440 and personal allowance of £9440 reduced this to £100k would i still have full personal allowance or would i lose £4770 of it for being £9440 over threshold before deductions? ie is the £100k threshold before or after application of allowances such as personal allowance/deductible…
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Back tax reviews on PAYE 4 years not 6.
Heads up for others a bit late but somehow I missed that the you can no longer go back 6 years for reviews it is now only 4. Probably saw it but did not register in the brain. For various reason I am just getting on top of some finances going back a few years, when I was on short form returns from around 2006 and include a…
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Daughter on tax code BR?
My daughter graduated university in June, she couldn't find work straight away and so signed on until December when she signed off as had 4 weeks work over Christmas. She started full time work in February just for 6months when her contract ends, she has been put on tax code BR, she paid a large chunk of tax last month.…
