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Tax Code Confusion
Hi there Long time no speak! I have a really complicated situation... Complicated for me anyway. I was employed full time, working 37.5 hours a week earning £26,000 a year (although I had a payrise early in the year). This was tax year Apr 2014 to Apr 2015. My P60 says the following: Total pay for the year: £25,498.49 Tax…
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Limited company director - buying a car
Hi all I'm sole director of a company, currently looking to buy a car - it's £25,000 and has 285 g/km co2 emissions (which is apparently a factor) Any idea how I would calculate whether or not I should but it as a company car, or personally? Any help much appreciated!
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SMP in lump sum in new tax year
Hi (am new, be gentle!) I have a question RE my SMP payments being received in one lump sum rather than across the year in monthly payments. I earn £640pm, I am due to start my maternity leave mid July. This is my only employment. I've googled and it seems the general consensus is usually no, for tax purposes this isn't in…
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P60 not received
Hi, I have left my previous employer at the beginning on 3rd March 2015 and I have started a new job on 26th March 2015. However the first payment I did receive from my new employer was on 10th April 2015 so in the new tax year 2015/2016. My employer says that because they did not make any payments to me in tax year…
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Is money given for house-chores taxable?
Hi, A friend of mine lives with her boyfriend's mother, and the mother gives my friend a small informal allowance for doing chores here and there. She's come across that any money received not purely as a gift is taxable, so now she is worrying about it. Legally, is this considered as taxable income? Thanks
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Registering as self employed after 4 years
I've got myself into a bit of a state worrying about my tax situation, and I'm finally at the point I'm ready to get it sorted out. Some background: From the age of 19-23 I worked a full time salaried job which I payed tax via PAYE. In 2010 I was made redundant and went onto jobseekers allowance for a bit, then in the last…
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Car Allowance and Mileage
Apologies if this has been discussed before. I currently use my own car for work purposes that I am paid a car allowance for. I claim back business mileage at 25p/mile on a monthly basis. I have heard rumours that I can claim tax relief as I stand out the money for the fuel but I'm not sure if that is the case and if so…
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Tax on a one off Japanese pension
As a seaman on a vessel away from the UK and more than 6 months in 12 months you do not have to pay tax on those earnings. My Japanese owner used to enrol us in the Japanese seamans union when we joined a ship until we left the ship, say 4 months, they also paid into the JSU pension fund a small amount in USD 200 to 400…
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Paying a mortgage indirectly - tax implications etc
Hi I have an interest-only mortgage which was used as a bridging loan for a relative's house buying (now all sorted). The relative pays the mortgage payments but indirectly - they pay me the exact amount which then goes straight to the lender a couple of days later. It has been convenient for them to keep the loan going as…
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Tax on multiple incomes
Been a non tax payer for quite some years now but once I full my finger out and setup my pension I will most likely fall into the tax payer bracket. Been living off of a) Savings b) 2k PA final salary pension c) Interest on savings. Additional income would be d) Second final salary pension of 2k back dated to beginning of…
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Self assessment query
Hi there I'm just filling out my tax return for 2014/2015. I was self employed from 13th April 2014 till 12th December 2014 and then went on maternity leave and still am on mat leave. Prior to this I have always been employed. When I finished my contract on 12th Decembe, I notified HMRC and NI that I was no longer SE. I do…
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sebbatical
Hello everyone. I have asked for and been given a year off work , a sabbatical. :j Being less than pension age , and always been employed as a P.A.Y.E employee i wondered if i can get tax back from this years employ and possibly stop paying tax on any interest i get from my bank ? Is there anything else i should know about…
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Paying back savings tax rebate to hmrc.
Paying back savings tax rebate to hmrc. Registered for gross interest on the 5-4-2015 on a savings account, it was meant for the 2015/16 tax year but did it a day or 2 too soon, and was given a tax rebate for the 2014/15 on savings.I should not have got this rebate. The rebate was for £65, do i need a tax certificate from…
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Is CGT payable when buying ex-spouse out of marital home?
My ex-husband and I separated 10 years ago and divorced 3 years ago. At the time of separation he moved out and purchased another house and I remained in the marital home, which we own jointly (he has continued to pay half of the mortgage since he moved out). He now wants to sell the house. I want to remain in the property…
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Putting House in Daughter's name-tax?
We own a 2nd property which we lived in 20 years ago and rent out to some friends(yes it's declared to the IR). If we put this house in our daughter's name, being her only property are there tax implicatons for us/her? It would be a gift and no money would change hands.
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Tax on kids uniform
Can anyone tell me why I am expected to pay tax on my child's school uniform? I was under the impression that children were exempt and Ive ordered from an official Uniform supplier. If I'm not exempt the tax then can I claim a rebate as I wash and iron all my sons uniform at home and it's something that is compulsory for…
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Apprentice bricklayer - does this seem reasonable ?
My nephew 19 - started almost at the beginning of 2014/2015 tax year as self employed with a company - he was CIS - he proved himself at work, bought some tools ( and they bought some for him ) and they took him on PAYE after 5 weeks. So SE just 5 weeks. I'm helping him with his tax return. I plan to claim tool expenses…
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Can anyone explain this tax code?
Can anyone explain the tax code 560L C? Can't find much info on it online, got taxed £337 on pay of £1900. NI of £157
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Paying for Friend's Property Renovation
I have a friend who wishes to sell his house. Unfortunately, he let it fall into disrepair and in its current condition he will be lucky to cover his mortgage and debts. We have a quote from a builder to bring the house up to snuff for around £35K. As my friend does not have the money for this, I will be paying for all of…
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Capital Gains Tax Query
My mum died 5 years ago and left a will allowing her husband to remain in the property rent free. My mums husband was offered a pensioners house from the local Council in December '14. He has only recently agreed to sell the house. My mums husband has a 25% share, my sister and I have 37.5% share each. We have just…
