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Stamp Duty Rebate
Ok guys. Need some help here. My property falls under the DAR stamp duty refund requirements. Last year I wrote to the HMRC (prior to the deadline) to claim the stamp duty back - and since that time thing have been going to and fro. The main issue is this: Original house price: £154,950 Allowance/discount from developer:…
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My Aunts CGT liability on inherited property
Hi I wonder if someone on here can give me some advice relating to Capital Gains Tax. The scenario is a little complex, well in my head anyway lol... let me explain: My aunt inherited her brothers property upon his passing in 2007. At the time of probate it was valued (£130000), there was a mix of shares and cash too and…
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National Insurance on dividend earning
From my main job I get gross £70000 a year. I understand I am paying 12% NI contribution for income £7956-£41865, and 2% for income £41865-£70000 per annum. This year I have got a dividend from my limited company and this is £10000. My accountant is saying I should pay £10000 x 12%= £1200. My argument is that I should pay…
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Grandparent gift to newborn grandson
Hi everyone, hoping someone can help me clarify the following. I am the proud grandparent to my first grandchild who was born very recently. I wish to make him a gift with my annual gift allowance of 3k GBP for 2014-2015. However I haven't used my allowance for the previous year, 2013-2014, also of 3k GBP. I understand…
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Childcare vouchers
Hi I wondered if someone could help us out I'm not sure how the Childcare vouchers work. We are in a couple, both work, and have a 1 yr old child, don't qualify for tax credits. How do the vouchers work? We both work for companies which can offer vouchers so can we both claim them? How do we make double savings? We are…
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IHT and Trusts
If a persons Will states that the persons estate is to be held in trust, and that estate has a value greater than the Nil Rate Band,would the trustees be expected to pay IHT at persons death?
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Have I got this right?
This is a simple question and maybe I'm being a bit thick, but it sounds very unbalanced to me: Mr Smith lives alone, earning a salary £25000 per year, his personal tax allowance is 1000L, therefore his contributions are calculated on £15000 per year, paid through PAYE. Miss Jones Lives alone, and earns only £2500 per year…
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Has anyone used an iPad to submit SA tax return?
Wondered if anyone has any expeience of using an ipad to submit their self assessment tax return. Is it possible to do? Reason I ask is my desktop PC has broken down and yesterday I received my new one but its damaged and has to go back so I can't use it. I'm hopeful I'll get a replacement by the end of the week but might…
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HMRC withdraw my appeal
Don't' know if anybody can help me. Months ago, I sent in an appeal against the tax office recouping money from me as I felt that it wasn't my fault that the underpayment occurred. I received a letter acknowledging my appeal and that they would contact me when a hearing date was to be set. Fast forward to today when I…
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Income tax and NI contributions from second job
I work in a private hospital as doctor with annual gross salary of £70000. I am also planning to do a second job (weekend/evening) which my current employer has got no objection to. I understand that my current Class 1 NI contribution is worked out as follows: 12% NI of my earnings between £7,956 and £41,865 and 2% NI of…
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Gift & Loan Repayment - Foreign Income? Tax?
Hi there, I am French and have been living in the UK for 9 years (I assume I am a non domiciled UK resident as my father was born in France?). I lent money to my brother a couple of years ago. My brother lives in France and has just paid me back making a bank transfer to my French account. Is a loan repayment treated as…
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Advice needed on property ownership
Hi, Im wondering if anyone can help please. Approx 15 years ago my parents were struggling with their mortgage/finances so one of us bought the house and took out a mortgage, this was for about £15K. This has since been paid off so the house is owned outright by a sibling. During this time my mum and dad continue to live…
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Can I avoid Capital Gains Tax
Any feedback would be appreciated.
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When will I pay tax on shares?
Hi all, It's been a while since last posted, but, here goes. I have cashed some employer shares in in January which obviously will show on 2014/2015 P60. Now to spread the tax burden, I am going to cash some more in in the next financial year. I get paid the middle of the month and these shares will be paid via my wages.…
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Employer deducted wages but hasn't paid tax
I just got a phone call from my boyfriend telling me that the employer he has been working for for the last 3 months has been deducting tax from his wages but not paying it to HMRC. They haven't even told HMRC that he's been working for them, despite his providing them with a P45 from his last employer. There have been tax…
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Company Car Tax
I'm coming to the end of a company car cycle, and so its time to start looking again at the cash vs car debate. The allowance is circa £5,500, which doesn't seem enough to do much with at first glance. I fall into the 40% tax band, so my crude math was to just take that off the allowance, which would slash it to £3,300,…
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How many years accounts to keep
Hi guys I used to think I had to keep 7 years accounts and have. However, I have just read it's only. 22 months so the 2013-2014 I have just submitted needs keeping until January 2016. Is this true. If so, can I shred all before 2011-2012? Thx in advance guys xx
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Good Speedy Service From HMRC
I thought I would counter all the negatives with a "good customer service" post. I received my P2 for 15-16 in the post this morning. They had split my code across my 2 income sources but the split did not work for me. Called at 1030 am. After going through the Q&A session, which I must say worked surprisingly well for a…
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0T tax code for 2015-2016 but not a new worker
I'm waiting to hear back from my employer but would appreciate any advice in the meantime. I received a PAYE coding notice from HMRC this morning that my new tax code for 2015-2016 will be 0T with a personal allowance of 0. The explanation for this is that it occurs for new workers when HMRC do not have sufficient…
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Coming back from overseas
Hi there, I hope someone can help. I am coming back from living overseas in May. I will have been resident outside of the UK for a full calendar year, from May 20th 2014. I filled in a P85 when I left and I have not been paying tax in the UK, in this job. Before I left to live overseas, I was getting a mixture of benefits…
