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Renting Property to pay for care fees
Hullo, I am new to the forums !! I have p.o.a for my Father's financial affairs. He and Mum bought their house in 2003 and the property is mortgage free. Mum died in 2008 and in 2010 Dad was placed into a care home following a stroke, as a ' self funder' and I rented out his property to pay towards his care fees. ( The…
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Claiming Back Tax from EU Countries
If you have paid tax in an EU country, but overall, didn't earn enough to pay tax in the UK, how do you claim back the tax paid abroad? In this case the tax was paid in Austria.
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Payment in advance confused - self employed
I will shortly be completing my online tax assessment for the tax year 2013-2014. I realise from a quick glance at earnings from my self employed work that I will have earnt between £5k and £7k for the first time. Previous years have always been less. I also have a pension and two taxed at source jobs. My question is this,…
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Self Emplyoyed v Ltd Company
Hi all, Just finishing my self assessment for last year, had around 60k turnover for a 34k profit. This tax year it seems I will be doubling that both for turnover and possibly profit too. So first, I obviously need to become VAT registered as I'll be going above the threshold. What are the tax benefits of setting up a ltd…
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Self assessment and a business website
I am working as a freelancer at the moment. If I create a website, can I claim the full annual fees as a business expense in the self assessment form?
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Canceling NIC SEE
I applied for and received a Small Earnings Exemption from Class 2 NIC's for the period of the last tax year 2013-2014 I have been a sole trader and for this tax year also. However, it now looks like I will be earning more than £5885 this tax year. What is the best way to go about canceling my SEE? Also if I cancel it will…
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short and long tax return forms.
I read there are 2 tax return forms one short the other long and more in depth and assumed that people under a certain threshold got the short one due to simpler tax affairs. However I've just read that everyone does the long one and only certain people receive the short version. Is this true?
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Underpaid tax
Hi, was wondering if anyone could please possibly tell me if a tax calculation my hubby has received from HMRC is correct, they are saying he has underpaid tax. Year 2013-2014 PAYE income 9357 Flat rate Job expense 80 Income after deductions 9277 Personal allowance 9440 Tax paid Refunded -109.80 (this was refunded at the…
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Travel Expenses
Hi, What I need to know is simply can I re-claim travel costs. I work in the security sector and although working full time I dont have a permanant workplace. What happens is that each week my employer phones me up with my shifts for the week. These places vary and could be three or thirty miles away and changes every…
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Taxed a large amount of money this month and confused why!
I'm hoping someone can shed some light on this situation. It's payday for me tomorrow and we receive our payslips on the Friday before every payday. I opened it to find that I have been taxed a large amount of money, which has never happened before. Last month and the month before I looked at my payslips and I have been on…
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Self assessment first time filing
My daughter is filing her first self assessment for year ending April 14. She has been both employed and self employed, and has ticked both sections but it then asks for a business name, which she doesn't have, does she just put her name here?
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Employer taxed prize
OHs employer recently ran a competition to promote health in the workforce. Everyone wore pedometers and whoever walked the most steps won. His prize was a £100 gift voucher. He has now received a tax form detailing it as a work related benefit. Is this right? If so, do we now have to declare it as income for tax credit…
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Can I claim foreign tax credit relief on employment income from one of job?
I worked 1 day in Sweden last year (well I guess 3 including 2 days travel) as an external examiner for a university there. It wasn't that much money but now I'm having to declare it. Swedish tax was taken on it. Can I claim foreign tax credit relief on this? Do I fill in the amount of Swedish tax taken? Or how does this…
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P11D help
Hi could someone help me out please Just filling out my P11D form for 13/14 Can anyone tell me where (in sections A-N of the P11D benefits table) do I put clothing? This is clothing that has been paid by the business and I now own and I can use the clothing in work and also outside of work Also if I have taken cash/cheque…
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Tax code?
If you annual income is less than your personal allowance how do they work out a tax code? e.g. annual income £8K personal allowance is £10K
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Inheritance tax questions
Hi! :) I wonder if anyone can clarify some of the sections on the MSE web site (so much easier to read and understand than the HMRC web site!!). In essence my father who is in his 70s, and hopefully going to live longer than 7 years, has given myself and my sister (his only children) a sum of £1500 each per year for many…
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Advice needed on paying tax on jobs
Hi All, Can someone wiser than me about these things please give me some advice in relation to my current situation? I am going to university in September as a mature student and have been working two jobs to fund this. In the past few weeks I started a third job because it worked out well around my other two jobs but I…
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ISA - Tax on Investment Trusts registered in Jersey
I understand that Investment Trusts registered in Jersey / Guernsey pay dividends gross of tax. If I buy any of these Investment Trusts within my ISA would there be any tax to pay on the dividends ? Many thanks for any assistance with this matter.
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CGT for sale of rental property?
Hi guys Have a question regarding how much capital gains tax exposure we would have if we sold a property we are currently renting. 2002 - Bought property with my brother for £100k, though it was valued at £160K (under value purchase from our parents). We lived there asour primary residence, owning no other property 2008 -…
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Uniform Tax Rebate
I have seen the potential for a tax rebate mentioned a few times and decided to give it a try. A quick letter to the tax office and a few weeks later a cheque for £44 arrives :) (rebate backdated to 10/11 tax year) and the tax code has been amended for future years. Just a little thing but really easy to do. Give it a try…
