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Simple Limited Company Accounts
I have had a limited company for 20+years purely for IT contracting. I only turn over around £35k and my accounts are very simple..around 1 invoice a month and very few expenses.. now the question..I am looking for another accountant as mine has moved country...the sort of quotes i am getting are £700+vat for company…
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Wage slip and p45 different
Look for some advice please. I got my p45 from my previous employer today and the amount of tax paid is around £800 less than the amount of tax paid on my last wage slip. Why would this be? and does it mean I have paid more tax than I should of or less? I am confused!!! (doesn't take much!) - the tax codes on each is the…
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Partnership Tax return
Hi Ive filled in my own tax return for several years but in May 2013 my wife and myself started to import a product to sell on ebay so registered as a Partnership. I therefore need to complete the partnership tax return. Im aiming for this week so I dont need to purchase software and do it online. Can anyone confirm that…
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claim tax on the work milage
Dear all, This may be a silly question but could not find a suitable answer on line so i thought id ask the forum. My company (NHS) will only pay me 26.5 pence for business miles that i do in my own car, i think the govt rate is 50p (maybe less) could one claim the difference back in tax. I only do at best 1000 miles a…
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Cut your Inheritance Tax bill
http://www.dailymail.co.uk/news/article-2808916/Did-Tony-Benn-help-children-avoid-tax-5million-PS-left-Labour-party.html
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overnight expenses and tax
Hi, needing a little help in understanding the rules. Right now the company I work for pays any overnight expenses separately from my pay. I get a set amount that covers accommodation and food. This is paid in cash and I have to give back the receipt for the accommodation. The company have said this has to change. They are…
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net or gross?
Hi My husband was overpaid in his wages this month - this was because he has been on statutory sick pay for 2-3 months and now qualifies for full time pay as he has been there over a certain period of time. They paid him full time for last month plus this months wage. He told them straight away and we have put the extra…
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New Employer - P45 ignored
My OH resigned from previous job on 5th September and was given a P45 which he handed to new employer on 14th October when he started his new job. He has just received his first payslip and he has been taxed with the emergency code instead of the code shown on his p45. We had expected the unused tax allowance from 6th Sept…
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MSE News: Just one week to go until paper tax returns must be in
If you need to file a paper self-assessment tax return, do it by Friday 31 October to avoid hefty fines ... Read the full story: 'Just one week to go until paper tax returns must be in' Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum?…
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Inheritance Tax planning - Overseas assets and gifting properties
Hi, So we are doing some proactive tax planning and need some help from more knowledgeable people! My FIL has a house here in the UK and some overseas property, which combined probably exceeds his allowance (maybe), which is £650k due to his spouses portion passing over. We are looking at the most efficient way to look…
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Tax and overtime... Where do I get taxed the 40%
Hello everyone, First time posting here. Have lurked for years, and the community here has been so helpful for me! Here's my query: My income right now is £39,000. So £29,000 is taxed at 20% It's my understanding that when I hit £31,866, the income past this is taxed at 40%. I work shifts, and often get overtime, making my…
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Delaying overtime claims
I have a new job where we have a rota and someone is on call every night. When they get called out to a job out of office hours, they get half of a fixed fee that is paid. I have heard that some people claim only a certain amount of these claims each month and save any extra for the following month if claiming the extra…
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Self Assessment and Travel Expenses
I am self employed and new to filling in self assessment tax returns. I need to travel to see a client. Can I put the travel costs through as expenses? Many thanks.
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Self Employed Newbie - Claiming Expenses
Hi I'm about to become self employed and have been gathering various pieces of knowledge. I know you can claim against your taxes for certain things such as advertising and so on. I will be working from home at my parents address and i would like a better broadband connection, the questions is if my parent increases the…
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Self assessment completed incorrectly
I have just realised that I have messed up my last 2 self assessment tax returns. In a nutshell, I am a landlord and have claimed the capital element of my mortgage as well as the interest as an allowable expense. Can someone please advise how best to inform HMRC and what penalties I could face? I recalculated what my…
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maternity tax back
my partner has recently returned to work will she be due a tax back ?
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self assessment query
Hi For the first time I have a self assesment to fill in. Income and tax is all straightforward - however I am not sure what to add in one field. My tax code changed a few times during the year One question is: "Underpaid tax for earlier years included in your tax code for 2013-14" Can anyone tell me where I can derive…
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Tax returns - why does HMRC need figures for tax already paid..?
For many years I've been wondering why you have to declare things like pension income, savings interest and dividend payments where these, very obviously, have already had tax paid on them. I understand the need to declare self-employment or income from renting properties... tax still has to be paid on these... ... but why…
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self employed, using up tax allowance?
Both myself and my husband are self employed, my business makes a small amount of profit where his is doing well. His tax allowance is used up due to his profit but mine is virtually unused. I do lots of work for his business but do not get an actual wage. How much can I claim as a wage to offset his profit and help to use…
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Mileage claim as contractor?
My partner starts a new job on Monday on a 9 month temporary contract. Can she claim expenses such as mileage? My understanding is that because she is travelling to a temporary place of work, she can claim. However, she's PAYE through an agency (unsure if it's an umbrella company or not). Any help would be greatly…
