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report suspected abuse of IR35?
I work with a couple of contractors who have been here solidly for almost two years and being paid upwards of 1 per day All are going through umbrella companies to avoid tax. How do I report them to HMRC for investigation?
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£100k gift to a friend
Hi all, Are there any tax implications with me 'gifting' £100k to a friend. Would either of us be liable to pay tax? Many thanks
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SE loss offset against PAYE?
Hi, another query: If I have a self employed loss of £400 that I have carried forward on my tax return from 2013/14, can I offset it against PAYE from 2014/15? Essentially, can SE losses be offset against PAYE tax paid? Thanks in advance.
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Claiming back rent whilst self employed
Hi all, I am self employed living in Bristol but often work away in London. During these times I have to rent a Monday to Friday flat, as well as pay a mortgage in Bristol. I have been given conflicting information about whether I can claim this back on my tax return or not - any information I can get on how I can save in…
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Shares loss
If I made a loss on a share sale of £500 (on a UK business listed on the FTSE), would I be able to record it as an income tax loss on my self assessment submission? I thought not as the shares were issued after 6/4/98, and on a recognised stock exchange but I just wanted to double check.
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Renting a storage unit - Is it tax deductable?
I'm renting my old flat out unfurnished. When I moved out I had a few bits and bobs which I've had in my garage up to now. It's getting to the point where I want to reclaim the space in the garage. I'm looking at putting some of my old stuff into storage. Therefore, can I offset the rental costs for the unit against the…
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Marriage allowance: how is 40% level defined
The rules are that the allowance can only be transferred to a spouse who is below the 40% band. But, for someone who is just into the 40% band, the transfer (if allowed) would take him/her below that band. So my question is: for purposes of the marriage allowance rules, is that spouse regarded as above or below the 40%…
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How do I become a non tax-payer
Sorry if this seems like a numpty question! I'm 58, I gave up work in 2012 after burning myself out and, apart from very occasional days temping for my old company, worth prob less than £800 a year, have no income at all. I registered as self-employed not long after I gave up work and each year just basically fill in a…
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Tax code question
Hi are there any tax experts that can help with this one? I'm a PAYE employee and I've never really paid much attention to my tax code. However just looking at my payslip and seeing how much goes out in tax and NI (about a grand) I noticed my tax code has changed in the new financial year to 710L. From searching, the…
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Inheriting weak euros
Hi, I believe I will shortly be inheriting around €40,000 from a deceased relative in Germany. With the euro so weak at the moment I could be getting significantly less than a year ago once exchanged. If I can wait a year and gamble on the euro going back up, how can I receive my inheritance in euros and keep it in euros…
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Work from home
Hi, For the past 7 years my contract has stated that I'm based from home and I've just discovered I can claim tax relief of £4 per week. How far back can I claim? How do I work out how much to claim? I get 25 days holiday and I'm out visiting clients once or twice a week?
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Lease Car that I pay for and tax?
Hi All, So since December 2013 I've been leasing a car through my work on a 'salary' sacrifice scheme. I have a VW polo 1.2 diesel because I commute 80 miles a day. I pay for this out of my own salary and my pay slip looks like this Salary - £3145 Flex adj - £32.96 (I get the medical benefit paid back) Total - £3177.96 Tax…
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Dividend tax etc - bad news for small business
Of interest to those of running PSCs... Not a great budget for those of us running PSCs with the dividend tax, withdrawal of the NI scheme and potential loss of travel expenses. Potentially next year going to cost me approx £4500 in dividend tax (two shareholders). NI probably not a great deal. Not sure yet. But I think…
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MSE News: Summer Budget 2015: HMRC given power to raid accounts for debts
Individuals and businesses who owe more than £1,000 to HMRC may have their funds raided for the money owed... Read the full story: Summer Budget 2015: HMRC given power to raid accounts for debts Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New…
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Tax code changed
Back i March I received a letter from HMRC saying that I owe them £213 from a previous tax year and that they are changing my tax code from 1060 to 953L from this april to April 2016 Today I got paid and for the first time the new tax code is reflected on my wages , until now since this april was still 1060L... I get paid…
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Marriage allowance - how would this work?
Thought this was for me but not so sure now, anyone help? I currently drawdown £9250 from my pension, I have about £2500 in bank interest which I now get gross interest on, and my only other income is about £1200 from share dividends, which are of course taxed at source. So I was about to transfer part of my allowance to…
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Company car allowance/mileage
I am about to start a new role which involves a car allowance. As a novice to this area I was wondering if someone could please help with the process. I will be covering approx.8500 miles per year. At the interview the employer stated that they offer £3600 mileage or 45p per mile. He said that most employees go for the 45p…
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Downsizing and inheritance tax
The rules as I understand them: Present IHT allowance is £325,000. In 2017 homeowners leaving their home to descendents will have an additional £100,000 allowance. Why could 'downsizing' have made a difference to this?
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Anyone submitting online tax return 2014/2015?
Anyone has done HMRC online tax assessment for 2014/2015?
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Expat tax question about returning to UK
Ill be returning to UK in January, from South East Asia. Working for the same UK company, however there will be a currency switch from local $ to GBP. How will the tax period from Jan until April work? If I earn less than £10,600 in this time, will this be tax free? Also, if i were to be paid in GBP from say August, would…
