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cis bricklayer buying a van
Hi, i am buying a van for work and and am looking to offset it against my income. I wAs wondering how much to spend to be the most tax efficient my profits will be around £30000 thanks for any advice in advance
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previous tenant's unpaid income tax
If this thread is in the wrong category, I apologise. This might be a bit of a simple question, but I've had several different answers and would like some clarification! So, my fiance and I have rented our current house for over six months now and we've started receiving letters demanding unpaid income tax from the…
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Transfer of Income Tax
Hi everyone I'm pretty new to this so excuse me if I've put this in the wrong place. I got married last year and I've heard that, starting with TY2015-16, HMRC are allowing some of your married Income Tax allowance to be transferred to your spouse. Currently, I don't pay any tax from my income (tax code NT) and my spouse…
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n i credits
If i work 20hrs a week min wage = £130 will i receive a ni credit
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Who Pays The Tax?
Hi, hope this is the correct place for this question. Myself and my husband jointly own a property outright. If we were to rent out this property who would declare the rental income? I would be the landlady. If it makes a difference he is a tax payer and I am not. TIA for your help.
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When to stop child benefit due to high income?
Hi all, After a little bit of advice please. I pay tax through PAYE. During this tax year, my salary increased to £60k. My previous salary was £40k. This was applied from July 2014. By my calculations, this means that my income for 2014/2015 tax year would equate to £55k [(£3333.33 x 3 months) + (£5000 x 9 months)] We had…
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Do I have to declare this?
Hi There I am on full time employment earning around £25K a year. I have been recently asked to do a one off design work on my free time for around £200 for another company. My questions are: Do I have to declare this income? Will I be taxed for it? Thanks
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Tax Calculation Help 2014 - 2015
Please can someone help. I have looked at tax calculators but they dont seem to help due to the income mix. Trying to forecast a tax calculation for 2014 to 2015. Person 1 Salary 10800 Gross Interest 1200 Gross Dividend 28000 Rental Profit 5500 Total is 45500 Person 2 Salary 7692 Gross Interest 1000 Gross Dividend 34300…
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No correspondance from HMRC
After I moved house 3 years ago I notified HMRC of my new address via their website and had emails back to confirm they had updated my records. I've only recently realised I've never had any postal correspondance from them since. I used to get a PAYE tax coding notice every year which readjusted my tax code down as I claim…
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Full time employment + self employed income - what to do?
Have a full time job where I PAYE. I write articles in my spare time and have started being paid for them. My first payment was on 30.01.2015 and I'm getting regular work. We're talking about £200 per month here. I plan to continue doing this. How do I go about registering for self assessment and paying tax on this? I've…
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Tax on gifting a property
Would be grateful if anyone can help on this. I would like to gift a property to a relative and would like to know if there is any CGT to pay. I own half the property would like to give my half away for free to the relative that owns the other half. I read on the HRMC site that CGT is payable even if you give it away for…
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P/T work and NI (LEL).
hi. I have done some research and think I have it correct but would like confirmation as I am confused as to the final option/s. this is for my OH (female), early 40's. she has worked since 16, 1st 2 years YTS (remember those?) other than that full time but has just taken a year off work by choice but started a new P/T job…
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Final Reminder
I've just received a letter through the post headed "Self Assessment: Final Reminder" in big red letters, which was unexpected and quite disconcerting. I filled in my online tax return on 28 January, so was well within the deadline. The online provisional calculation page said I owed about £3000 and that the figures would…
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self assessment help New van
Hi i'm asking on behalf of my husband he has missed the deadline and is now dragging his heals getting it sorted, the problem is he bought a new van Jan 2014 and he wants to claim it back over 3 years he says this is possible but he doesn't know what percentage of the cost he can claim in the first year? hope this makes…
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(solved by private consultation offline)
I must be writing the wrong questions ! 451 views and 6 replies !
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Under payment
I have recieved a letter from the Tax man saying I have had two employments at the same time and both employers were applying a PAYE code etc... They are saying I owe £803.20 from the years 2011-2012 and 2012-2013. I have tried to call the but after being on hold for 30mins I gave up :( I have never worked for two…
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P87 and underpaid tax
Having eventually been fed up of constantly being stung for underpayments by HMRC on my PAYE income with multiple p800 statement in recent years, I submitted P87 forms to reclaim professional subscriptions dating back over the last 4 years totalling almost £5000 (at higher rate), in the hope of receiving some money back at…
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Tax code based on income of over £27000
I am retired and received a tax code today which included my state pension plus an occupational pension. Another occupational pension was not included. Even so it says that this code is assuming your income is above £27000 per year, which it certainly is not. It is about £15000. Two years ago when I retired, aged 73, I…
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Considering moving from umbrella to Ltd Co contracting
I posted this under the 'boost your income' sub forum but have been redirected to here, so my apologies. Below is the original message.
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CGT limit
If I switch a few Funds from a Fund and Share account into a Fund and Share account ISA, without changing the Funds, will the profits be liable to be added to my CGT liabilities for the year? I will not be taking any profits per se.
