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HMRC chasing employer for tax allegedly owed from 2010-11
We've had two letters from HMRC debt management section stating that we owe them over £4000 (including interest) for underpaid tax and NI from 2010-11. The second was dated two days after I spoke to them, and said that we hadn't been in contact, so I can only assume that the computer which sends those letters out doesn't…
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HMRC removed "Tax deducted" after revising
Hello all! Submitted self-assessment at the end of December, HMRC confirmed all was good, and this morning postman brings a letter dated 28th Jan, saying that they revised my tax return, and I had to make the payment last Saturday (31st...) What changed from the first letter is that the part which says "minus Tax deducted…
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Clearing Up Tax Issues
Hi All Firstly this is not a tax cutting issue as such but I thought this was the most appropriate place for it but if not please feel free to suggest where I should put it. In short I had an accountant who shall we say was worse than useless and never told me I needed to complete self assessment as a Director of my own…
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BIK Tax Confusion - Salary Sacrifice Car
Afternoon all, I've recently taken delivery of a lease car through gross salary sacrifice. When I made the order for the car I was a basic rate taxpayer, so my calculations of what the lease will cost me (in net terms) were made on that basis. However, I've since been given a pay rise which puts me into the 40% tax band.…
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Couple of iheritance tax questions - Life insurance
Morning Everyone I'll spare the details, just got a few quick questions - 1. Life insurance paying out early - if somebody had an estate just under the NRB and then had a life insurance policy for 60k paying out before death due to a terminal illness, would it form part of the estate for IHT purposes after they died? 2.…
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0T tax code really confused
Hello guys, Today at work been told by the admin that my tax code is odd, it's 0T. Been working for the company close to 2 years now and before I was self-employed. When I goggled it all I got was: Any ideas on what should I do, workplace wasn't much helpful? Thanks
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Very confused by VAT
Hi, I'm the director of a Limited Company that's been trading since October. We're not currently VAT registered but we should reach the threshold by the end of Feb so we'll have to register soon. At the moment, a large portion of our expenses comes from advertising costs. We use Facebook and Bing adverts. On our invoices…
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Self Employed expenses - car etc
Hello, I wonder if one of you kind people can answer some fairly basic questions for me...I know the answers will be out there but wonder if I can't see the wood for the trees at the moment. My long term partner left a job in which he wasn't entirely happy in Oct 13 - he was lucky enough to be offered something else very…
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Transfer of Personal Allowance for 15-16?
Not my normal area of the forums, so please be gentle :D Is there any info out yet about the transferring of £1050 of Personal Allowance to a spouse? As in, what do you need to do to claim it? Hanx in advance :)
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Tax Relief on Course Fees - PAYE
Dear all I am currently employed full time by an NHS Trust in a trainee position and pay tax via the PAYE system. The training programme that I am on is expected to last 3 years and upon qualification, I have to take up a post as a substantive Band 5 or 6 employee (Agenda for Change contract) for a minimum of 12 months…
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National Insurance explanation please
I was sorting out and filing some paper work when I came across my P60 from last year. I only earned £2945.70 but there are figures in the 'National Insurance contributions in this employment' columns as follows: Earnings at the LEL 946 Earnings above LEL, up to and including the PT 346 Earnings above the PT, up to and…
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Tax on savings question
I'm currently earning less than £10,000 a year so I do not pay tax on my salary and I currently get gross interest on my £5,000 savings. If I start full time work in July 2015 (gross salary £18,000 a year), do I pay tax on my savings as soon as I start full time work, or do I wait until my salary and interest have reached…
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Foreign income
Hi I am non-domicile UK resident, working in the UK. I transfer part of my savings to my home country so that I can invest it there as well as plan for my retirement income etc. UK has Double Taxation Agreement with my home country and my bank there told me if I provide Tax Residence Certificate from HMRC then they can…
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Self Employed: Expenses help
Good afternoon, I would be really grateful if someone could give me some pointers on the following, as this is my first time, and I am not too sure on the rules. This fiscal year, I have been working self-employed as an IT engineer. I have had to purchase a number of items over the course of the year so far for work.…
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Is Tax Payable on Refund of Uni Fees ?
Hello Have searched forums but can't find an answer so hope someone can advise My son studied the GDL ( law degree) last year . He has since obtained a Training Contract with a Magic Circle law firm which also includes a refund of course fees paid . We paid the fees for the GDL out of taxable income , would the refund be…
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Offset Per Diem
Hello, I work overseas and get a per diem of 45 manat a day and the uk government advise it should be 85 manat a day. Can i offset the difference against my end of year uk tax? Thanks
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Limited co and tax help
Hi I have been leasing domain names that I own to customers and now look to earn 20k + per year. I pay tax at higher rate anyway as I am employed full time. Is the following possible / does it make sense? Customers leasing domain names pay limited co the lease rate Limited co pays me the lease rate as I own the lease,…
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Where do these property expenses fit on the tax return?
I'm doing a SA form for 2013/14 for a BTL purchased with a mortage during that year. Not sure where I put the following expenses in whihc questin/box on the form or if they are allowed. Can anyone advise please. If not then do I just contact HMRC and ask them? Solicitors fees Stamp duty TT charge Survey fee Arrangement fee…
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Submitted at midnight, will I get fined?
After spending all evening trying to reset my log in details I finally managed it at 11.30pm and my return was registered at 2015-02-01T00:00:02.945. Any idea if I will get a fine?
