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Self employed teacher and mileage
Hi. Looking for some advice about claiming mileage. I have recently become a self employed languages teacher. I will be fulfilling contracts in 3 schools for 2 different companies that provide language teachers. On 2 days a week I will be travelling between schools at lunchtime. Can I legitimately claim that my house,…
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Siblings, an Inherited house and CGT.
My brother and I are about to sell our family home (neither of us live there), inherited from our parents when they died. With regards to Capital Gains Tax do we deduct the costs of selling and then split the value in half and file separate CGT forms using our own allowance or is there a different way we need to do it?…
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Juggling tax implications of two residences one with lodger one short lets?
Hi I'd appreciate advice on tax implications of having two residences please, particularly income tax implications of renting a room in one, and possible CGT costs of letting the other short term. Thank you. Details below! I am buying a small house 'B' near my elderly parents (late 70's, one with increasing health…
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Newly Wed
Hi Folks, my partner and I recently married and my pay slip this month had a note advising me to notify the income tax office. Both of us earn over £16,000 Net. I am struggling to see any reason / benefit to letting the tax office know?
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Reclaiming Savings Interest Tax
Hi, My wife earns around 18k per year. If she were to pay the full 18k gross into her SIPP & get full basic rate tax relief would she also be able to reclaim all savings account interest? Effectively she would be a non earner if she paid in anything more than the 10k basic allowance I think. I think we can do this via R40…
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Renewing small earnings certificate
I'm (employed and) self-employed with a small earnings certificate, which expires (for the first time) at the end of this tax year. Do I have to be proactive about renewing it, or will HMRC automatically send me a renewal form? If the latter, when should I expect to receive it?
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Declaring income and assets from Australia
My wife (an Australian resident in UK) has some property in Australia which generates an income on which she is taxed in Oz. She has never declared it here because we thought it unnecessary given the double-taxation agreement between UK and Oz. During this tax year she has sold some of the property and transferred the…
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Variation in tax paid on pay slip
My husband started a new job in January and I'm trying to work out our budget. His first pay packet in January had him paying £200 less tax than today's payslip. Everything else NI, pension and childcare vouchers are the same. His tax code is also the same. Any ideas?
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Probate: Reminding HMRC there is an unused IHT allowance.
I am applying for Probate on my mother's estate. Where in IHT205 - or where else -do I remind HMRC that I can combine my father's unused IHT allowance with mum's as he gave everything to mum when he died in 2006? I have scanned the documents but can't see it!
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SA £100 Penalty.
Hi there, I have not been registered as self employed for about two years. I recently earned some money privately and wrote to HMRC asking them what I need to do and they just replied with a £100 fine letter. Is this how it works? I just wanted to be honest and ask them if I needed to re-register as self employed and fill…
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Deceased's House valuation/CGT question/s!
I am an executor of my mum's Will; Her estate is probably worth about £500k, most of that being the house. We got some EA verbal valuations which varied by about £70k! It is quite difficult to 'guess' as it has 'potential'! I need to 'accurately' value this for probate via a chartered surveyor, don't I?. Am I right in…
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deferred state pension payout/tax
Case : Divorced lady 65 in mid april 2015. Her income in 2015/16 is as follows. State pension roughly 5700, part time employment 4000, taxed investment savings bonds say 600 net. Tax code 10600 hopefully. She also has deferred state pension payout of 5 years so say about 25000 due april. What is her tax liability. As her…
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Company Car vs Allowance (again)
Hi all. I'm really sorry, I know this has been done loads before, but I'm finding it hard to get my head around it. Numbers just aren't my thing and I'm happy to let the tax man sort it out. I expect to be promoted next month and, if I am, I will be able to choose between a £3,500 car allowance or a car worth up to…
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Small Earnings Exception
Hi, I'm a new sole-trader whose business is a hobby that is expected to generate less than £5000 of profit each year. I also have a full time job whereby my taxes are paid automatically through PAYE. I am considering applying for a Small Earnings Exception for my sole-trader business but am concerned about the implications…
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VAT Question
Hi All, I am based in the UK and hosting an event here, a US company is sponsoring the event and transferring payment from the US. I am about to prepare an invoice, can you advise if I need to charge them VAT ? Any help would be appreciated
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National Insurance Contributions
Hi there, recently filed my self assesment tax return and didnt mention anywhere about my national insurance class 2 contributions that I have made throughout the year, should this have been mentioned in my self assesment tax return? thanks in advance
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Capital gain in the past, just cashed the cheque
Earlier this year I was going through some old paperwork, and discovered an uncashed cheque from the sale of some Friends Provident shares in 2009. These shares were sold on my behalf as a result of the takeover of FP by Resolution. Thankfully, I've managed to get the cheque re-issued (less an admin fee) but I'm wondering…
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HMRC Compliance Check
Hello, I am the subject of a HMRC enquiry regarding bank interest. This identified an error in that tax year so HMRC are now going back another tax year, and are also asking me further questions about how the issue in the first tax year arose. I dealt with the first round of questions myself as it was mainly supplying the…
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Tax Rebate for Uniforms
Hi All, I have recently became aware of a tax rebate for those who wear a uniform to work of which they have to maintain themselves. I am not very knowledgeable on tax issues, however is it easy to reclaim this tax? I have already completed an online self assessment form for the tax period in question. Thanks
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