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Please help - VAT on insulation for Ground Source Heat Pump
I've searched the forum and can't find anything to answer the following question. I have read HMRCs VAT notices on reduced VAT for Insulation and for installing a Ground Source Heat Pump. The Ground Source Heat Pumps materials and labour are charged at 5% VAT. Insulation which is installed as a job in it's own right is…
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extra death tax proposed
For those who enjoy a nice fret. http://www.dailymail.co.uk/news/article-2710287/Labour-revives-plans-15-death-tax-estates-deceased-provoking-outcry-Tories-claim-pensioners-deserve-better.html Will Labour take the view that it's unfair that the non-rich avoid death taxes, so here's a new one that will hit them too? I'll…
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Setting off losses against PAYE
At present I am employed and pay tax via PAYE. I’ve recently purchased some land that qualifies for Single Farm Payment The money the land will generate via the Single Farm Payment, Grassing rights etc won’t cover the money that I’ll pay in maintaining the land, therefore I’ll make a loss. In itself this isn’t a problem as…
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Self employed short term, registering.
Hi Im looking for help regarding registering for self employment, my husband has a full time job, but as of this summer, he will be working away for 6-8 weeks a year during the summer. He will be paid straight into the bank after invoicing the owner of where he is working but he will have to sort out his own tax and NI, or…
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Tax return including maternity pay?
Last year i received maternity pay for 9 months, with just few bits of work dotted before and after maternity leave finished. Do i include maternity pay into my tax return? If so, is there anything special i have to do or do i just add the total to my other figures? Sorry, completely clueless.... Thanks for any advice!
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How can I tell if I'm on an emergency tax code?
Having just changed roles, I've had a new tax code sent through from HMRC to reflect my new income. I'm slightly concerned that I've been put in an emergency tax bracket. Can someone point me in the right direction of to doing out whether that's actually the case? Is there an easy way of finding out? Thanks,
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Council Tax - Single Person's Discount
We should be very grateful for advice for all you knowledgeable people out there! Situation is that we are shortly going to move from one house to another hundreds of miles away, however Mr MO2 will still be working in the original city and (given the difficulty in selling it at the moment) will probably live there for a…
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Capital Gains Tax
We have just sold my late parents' home for £295,000 a year after my mother's death. The probate valuation was £250-270,000 a year ago. We've been told we have to pay capital gains tax, but surely the valuation was just the estate agents opinion and not fact - if they'd valued it at £300,000 we wouldn't have had to pay it!…
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Capitol Gains On New Build
In 2011 I owned a plot of land. I had an interest only mortgage on the plot in my name only. I could not afford to pay for the built so 2 friends built and sold the house for an agreed return. When completing my self assesment my accountant included interest payments from the mortgage in the assesment which calculated no…
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Potential naive tax question
Hi everyone I have a BTL mortgage in my name and declare my rental income for tax purposes. As I'm married does the IR automatically see the property as jointly owned and therefore I should have instead split the income 50/50 between my wife and I. Have I over paid tax and can potentially claim it back? Any advice is…
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P85 questions ... I am leaving the UK.
As the title quite rightly says I am leaving work on the 12th September but leaving the country on the 4th November. My last payslip is going to be at the end of October. I wish to claim back tax as per my personal tax allowance and just need to figure out a rough ball park figure of what I could be expecting. I spoke with…
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Tax related quandry...
Hello, :j I was hoping someone could give me some advice/steer me in the right direction... I was working PT at a school as a teacher, and PT at a supply agency. I was lucky enough to be offered a full time contract by my school, so I handed in my noticed at the supply agency. I received an email confirming they received…
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Self assessment for overseas rental income?
Hello, I am an EU national permanently living and working in the UK for the last 4 years. Back in my home country, I own a studio flat which I am renting out for around 100 pounds per month, though this can vary depending on the current exchange rate. This money stays deposited in my current account at my home country,…
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Council tax and single person discount question
Hi, I know the question about council tax liability and expats has come up before. My wife and I have just been refused the single person discount with Ward v Kingston upon Hull 1993 quoted. She lives in the UK and I live abroad working full time for a non-UK company, getting back to the UK for about 25 days a year. I…
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capital gain confused again!!
im due to inherit a house with 4 others in family .if 2 of us decide to buy out the other 3 to own the house for renting out. how will capital gains tax work out upon if we 2 decide to sell house in future? having part inherited and part bought the house.
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Travel Expenses
Hey everyone. i got a notice that i have to do a tax return this year, not too sure why as i am PAYE but i used to be SE but this ended a couple years ago. a few guys at my work have claimed for using their own car for work(we work in construction), so claiming mileage between house and different sites(temporary…
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Is it OK to pay property sale proceeds direct to spouse's account?
My wife is selling some commercial property in Australia. There are no tax issues as the property was held within a trust. I will be investing the proceeds in the UK, so is it OK for her to transfer the funds from Australia direct to my UK bank account, or does it need to go through her UK account first?
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Capital gains tax band...based on income or income+gain?
Dear MoneySavingExperts, I feel a bit silly having to ask this question, but some conflicting information has left me a bit confused and I would be very grateful if someone in the know could please clarify things for me. Thankyou in advance. I'm in the very fortunate position of inheriting an estate, which has sold for…
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clueless
I have never earned anything outside of PAYE, and have recently been asked to do a teaching session with a policy unit. I would take leave from my day job to do it, but have no idea what to charge as a fee or what I do about tax. I am assuming I would need to fill in a self assessment form but when? I am keen to do this as…
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PAYE Income Tax Underpayment
Hi, I received a P800 from Revenue and Customs for the tax year 2013-14 and it states the calculation includes an underpayment for an earlier year but the year is not stated. The underpayment is for the amount of £532.40, a very big shock to me. I contacted the tax office and was informed that I had underpaid by £2.00 for…
