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Savings brought it from abroad when relocating to UK
Trying to complete tax returns. We know we have to declare any income from abroad, such as our pensions which we have transferred here on a monthly basis. However, when we relocated, we brought some savings with us. Is this subject to taxation, please? Does it make a difference if you are domiciled or non-domiciled?
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P11D Issue
All, Just received my P11D for 14/15, the only benefit received was PMI. Around half the firm have received the benefit for the full year, their cash equivalent is £600. I, like the other half of the firm, were only eligible to receive PMI from 1st January 15. We have also been assessed on a cash equivalent of £600. I've…
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Is it normal to get a Tax Refund every year?
I wonder if anyone can advise? My husband is a teacher and every year for the past 4-5 since he started this type of work, he has been getting a tax refund of £700-£800 every summer. I've never experienced this. Could it be that he is on the wrong tax code or something? It says he is paying the basic rate. A teacher's…
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Drawings on Self Assessment??
I'm just attempting my first self assessment tax return and am unsure of a couple of things, could someone advise please? 1. Should there be somewhere to input carers allowance? not sure if this is something that should be on a self assessment (tax credits take carers allowance into account). 2. I understanddrawings are…
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Capital Gain Tax Check help please
Hi there folks, Wife has just sold, a property which was in her sole name & which we usd to live in but was rented out for a number of years after we bought a house together. As it'll be a long time before her 2015-2016 tax return is prepared, just wanted to check what the CGT is likely to be so we can set it aside. I have…
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Rental income - queries
Hi, Few questions: 1. Can I receive rental income for a property that is in my husband's name? Perhaps a nominating agreement or something like that needs to be put in place? 2. Do you have to register as self employed within 3 months from the start of the tenancy agreement? 3. Can I declare all of the rental profit in my…
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What qualifications
What qualifications are the best to look for in an accountant if you want him to give advice on how to approach various methods of rental property ownership in a non married partnership, the tax advantages if they did marry , who should the rent be paid to , the optimum length of time to keep the rental etc to minimize CGT…
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Mainly PAYE but ??Putting self-employed income into pension
Hello I have just started a new full time job which pays £40k PAYE, but there is currently no pension scheme (auto-enrolment Jul 2016 i think, no idea what scheme) I have a zero hours post with NHS (and pays into NHS pension scheme) probably earning about £1.5k pa (NET after tax @20% currently) I have the opportunity to do…
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business travel mileage help
Hi I have started a part time job at domino's and want to know if I am eligible to claim back the 45p per mile from HMRC, Dominoes pays me minimum wage £6.50+ 75p per delivery (The 75p per delivery is cash in hand at the end of the shift) but deliveries can be up to 20 miles from the store so 75p does not always cover the…
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Capital Gains Tax Query
I'm about to sell a property that has a rather complicated history and can't work out how much Capital Gains I will be liable for... can anyone help? I bought a property on my own in 2003 for £145,000.... a couple of years later after meeting someone we converted it to joint ownership and at some point along the way…
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Child benefit/self assessment
Hi I just wondered if anyone can help. This tax year, it looks like I'm going to be near/over the threshold for not being entitled to CB. Base salary is over the £50k threshold but childcare vouchers and pension contributions bring it under. However, I'm due a bonus and a pay rise in September - still to be confirmed but…
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Cap Gains Tax Loophole ?
Is the following technique a valid way of paying less capital gains tax on stocks and shares (or any liquid assets) ? "Every year, as soon as you make the capital gains allowance (£11k) sell your portfolio and buy it back immediately." This allows you to roll over the allowance every year. As an example imagine you invest…
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Company Van Tax
Hi everyone, First post. Basically, I've just been sorting through some papers, and noticed that on my tax code letter, it says that my allowance is only £100 for 14/15. Basically I've been deducted fuel and can benefit. Underneath, it says that I've been deducted the fuel benefit as I get free fuel for personal use of the…
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Confused with HMRC rebates!
I retired in June 2011 and was only getting my work pension of approx £2,500 a year. I had inherited around £70K from the sale of my mum's house and I saved this in a Post Office Savings account and my £15K one off payment from the my pension provider went into my National Savings & Investment account. As I wasn't a tax…
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Capital Gain tax On shares
)Can someone confirm or correct the following relating gains and losses on shares Please assume that the annual cgt relief is £11k here. ignore Income tax Year 1 Gains 11k Losses 22k Year 2 Gains 11k Losses 22k Year 3 Gains 11k Losses 15k Year 4 Gains 55k Loses 4k Calculations Year 1 No Tax ( 11k gain - 11k Relief) 22k…
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Self assessment tax return
Hello wasn't sure which forum to ask this, I'm a small self employed cleaning business just filling in my online return Last May I had my ppi refund from natwest and they automatically deduct tax on the interest, I don't pay tax so need to claim it back I can't find where to enter the figure on my online forms,can anyone…
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Does this count as abuse of the tax system under HMRC rules?
A friend of mine has just bought a BTL property and has asked if I can help with the book keeping and tax returns. A bit of background - he has always been really good with money and through years of saving he and his wife saved up enough to buy the rental property outright. They aren't earning huge wages but have managed…
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Tax credit single / Joint claims
This post was written in 2009 does it still hold true today?
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P45 query
I started a new job on 13th April this year so my P45 finishing date was 10th April 2015. My end pay was 1715 - not because I earned a phenomenal amount of money in 5 days (I wish!) but because my previous employer paid from 13th to 12th of a month on the 18th. I gave my new employer my P45 when I joined. I got paid up to…
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Declaring unearned income to HMRC
I'm disabled and have a number of long-term health conditions but with support from Access to Work and a very understanding manager I manage to work part time. I'm single and I work just over 16 hours a week, and earn approximately £7500 a year. In addition to my earnings from work, I also get Disability Living Allowance…
