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Capital gains tax rules
Due to the sale of a house jointly owned by myself and 2 brothers and occupied by our mother until her death last yr, I have made a capital gain which is taxable. However, I am retired and my personal income is less than £6k, well under the personal tax allowance of £9440. Adding my cap gain to my income still leaves me…
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Am I entitled to Single Persons Council Tax?
Sorry if this has been asked and answered but I've done a couple of searches and hunts of the board and can't find an answer. I currently live with my other half in a house and we pay full council tax. In a couple of months he is being posted (armed forces) to elsewhere in the country. He will be living there in the mess…
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Reducing CGT
I'll keep this as short as possible for you. House bought in 2008 cost £185,000 Money from parents in law £100,000 Money from savings £15,000 Mortgage £70,000 Lived there for 3 years until.... House rented out in Jan 2011... Tenants moved out Jan 2014... house now empty. House sale price £300,000 Mortgage left £55,000…
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Person dying....How to pay least tax?
I am asking this Q on behalf of someone I know who is unfortunately and sadly dying of cancer. As hopeful as we are, she is in a hospice and it appears that the end is imminent. Recently she has been trying to give money away and buy people silly things and finally she explained that she has worked all her life and has…
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Online self assesment
Hello, Can anyone tell me - Is the calculation at the end of the online tax return set in stone, or does it get double checked and then confirmed by HMRC ? Many thanks Claire
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Working multiple jobs
Hi, I've recently been working a few multiple jobs - some temporary, some permanent - but all together they just about add up to a single, full-time job. What happens to my pay if I use the same tax code at all 3 (4) places, and should I even be using the same tax code? Please help, most of my places are doing the payroll…
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I need help please
Firstly I may have put this on the wrong board, if so I apologize My husband started work for an agency a few weeks ago, he is a HGV lorry driver. He gets paid £8.50 an hour and the hours vary. the agency pays him £x per week and deducts income tax national insurance and pension payment. it also does something called…
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claiming back tax on salary after retiring
hubbie retired in june and paid some tax on his salary from april until then. He does not intend going over his personal allowance for the year. When can he claim the tax paid back please?
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council tax/bailiffs, why should i pay before january???
i have to set up a payment plan with rossendales for this years council tax, i missed the first payment and recieved a court summons which was dated 12th may, i was due in court on june 12/13ish but on the summons it said i don't need to attend, so i didn't as i was working i can't afford time off, now i have till the 23rd…
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Customs tax help
Does anyone know how customs tax is worked out? I'm looking at buying our wedding rings from Pompeii 3 in USA which would total $800 or £470 Could anybody help me with a rough idea of the custom tax I would pay? I have contacted pompeii 3 direct who say they are not sure :/ Thanks in advance xx
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Company Director & also PT Employed.
I shall be using an accountant, but can anyone tell me if being employed on a .4 (2 days per week @ 2/5 of £23k) and then being the only Director of a Private Limited Company with profits of circa £32k is feasible tax wise? Thanks!
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Sharesave query re capital gains / paying as little tax as possible
Thanks in advance for any advice My sharescheme ends in August I have invested £15,000 Original share price 50p so I will acquire 30,000 shares on 1st august Share price presently around £3 so shares present value is £90,000 (£3 x 30,000 shares ) Ideally I would like to take as much out as possible Can someone explain how…
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Calculating tax on bonus - confused
Hello, I am being paid my bonus this month and confused on why it is so high according to the online salary calculators. I am a higher rate tax payer. My bonus is £12k. According to the calculators, I will be paying an extra £6799.60 in tax, and £240 in national insurance! This is obviously just under 60% of the actual…
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r85 or self assessment
if my income drops below the threshold for paying tax I understand i can use an R85 to prevent paying tax on my interest. If i'm already doing a self assessment tax return is an R85 necessary?
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Import tax queries
Hi guys, I imported a golf club from the US to GB. The golf club was $59.19 and the shipping was $40.50, therefore the total cost was $99.69 or £58.35. I understand that I don't have to pay import duty as the value is too low. So the only charge should be VAT at 20% equal to £11.67. However I have been charged £14.62 VAT.…
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Gifted house CGT and other questions
My wife and her sister were gifted a house by there father just under 7 years ago. He continued to live in the house until He died recently. He did not pay rent to either sister on the house. We are trying to decide what to do with the house. It's value is £160k and has a potential rental income of around £550/month. The…
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National Insurance as a teacher / examiner
Hi, Sorry if this is in the wrong place - feel free to move. I'm a teacher in a secondary school and I also do bits of work for various exam boards, but not on a regular basis... I mark exam papers in the summer and get paid approx £1,500 (before tax) and I might do one or two other things during the year for which I'll be…
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self employed and working abroad
Hi all, Where can I find information about what tax is payable on work done outside the UK but in the EU? Most of my work is for one employer, who pays in sterling. Most of my expenses are in Euros. Sam
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First self assessment since flat rate VAT.
Hi all, Joined Flat Rate VAT scheme in August 2013 ( assisted by some excellent advice from folks on here ) Just getting figures together for tax return for 2013-14 Tax Year, and as per thread title, its first one since flat rate vat registered. I have always used mileage scheme to account for vehicle expenses, 45p for…
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Self employed with earnings from overseas
Hi, I would appreciate any pointers that any of you may have with regards to being self employed, based solely in the UK and work from the UK, with with clients who are based overseas sending me work. I obviously declare all income on my S/A form, but this year I have had several clients who have moved to overseas…
