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Use PAYE profit to purchase additional property
Hi, I am just looking for advice on using my PAYE profit to purchase an additional property for future investment purposes. And if I can claim it as a cost on my next return? In this current tax year I renovated a property which I sold rather swiftly making a nice profit. My question is can I use part of the profit to…
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Son living rent free
We're thinking of buying a 2nd property after receiving I sizeable inheritance. We are concerned about ending up with a non paying tenant & are considering renting to our son & his wife as they are currently in rented accommodation, seems to make sense for them to rent from us. We need the income from the rental property &…
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p800 tax notification £3.3k
Came home to a p800 notice for underpaid tax from taxyear 2013-14 I am a bit gobsmacked to say the least. The income they have used to calculate seems correct, but they have added in another adjustment for £2494 that isnt really explained. The notice on the letter is : "An underpayment for an earlier year was ncluded in…
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Can you estimate a tax rebate?
HMRC wrongly gave me a Tax code this year of 803L and have now corrected this after I contacted them to 1060L. They said any change will be reflected in my pay but wasn't sure how easy it would be to estimate how much tax I have overpaid this year.
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Second income? Or countable in current business?
I'm currently in a partnership in a cleaning company. I have the opportunity of some freelance web development work over the next year. If I take it on then about 90% of my time will be doing the web development and 10% workng in my current cleaning business. My question is, would I be able to put my income/expenses from…
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Purchasing Medical supplies Tax Free
Hi, I am diabetic, resident in the UK and aware that if I purchase medical supplies for my own personal use, I can purchase them VAT free. I am trying to purchase some supplies from a company based in Germany, but they are stating that if I am buying them as an individual, I must pay the Tax, as the goods are not leaving…
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Appealing a penelty
I got mixed up in the whole NHS restructuring and I was moved from one organisation to another. I was employed by Royal Free London NHS Trust and was transferred to Public Health England. This happened a few days before the end of the tax year. Royal Free did not provide me with a P45 or any other statement of earnings.…
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car salary sacrifice
Hi all, not sure if im posting this in the right place so apologies if im not, I have signed up to a car salary sacrifice scheme through my company, it is via lex autolease, the car has taken over 6 months to turn up and in the mean time ive been offered another job with a different company, my question is does anyone know…
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Employed and self-employed tax return
Hi - apologies if this is a silly question. I'm a freelance journalist, and some of the companies I've worked for insist on paying PAYE. As I fill in my first ever tax return, can I claim travel expenses incurred commuting to work at companies who have paid me PAYE? Or is that only available for places that pay me gross?…
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No Council Tax Bill for a Year!
Hello everyone, I moved into a new-build house in October 2014 (a year ago exactly) and still have not had a council tax bill. We're on the electoral register, and everything else is normal. I mentioned it to a few of my neighbors and they have all had their bills. I called the council tax office a week after we first…
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Ex pat Tax refund question ??
Hi there I hope someone can help me and point me in the right direction In conversation the other night someone told me that I can claim a refund from the tax office .. to be fair I didn't catch all of the conversation I am one of the lucky ones who now live in Australia. I have been here since August 2015, prior to that I…
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Non resident CGT. Payable in UK or Spain? Or both?
I currently reside in Spain. I am tax resident here and so is my wife. We have accepted an offer on our UK property which was our main home before moving to Spain. The sale is going to complete in April 2016 when the existing tenants move out. From what I have researched it seems we are liable for the CGT in the UK which…
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Becoming a freelance
I am about to retire but will continue to work part time for my former employer on a freelance basis. I doubt the amount so earned will be very large, probably £10k max. I will have to get my head round tax issues. I understand that I can set stationery and other consumables against tax. That bit is easy. I will be…
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Inheritance tax confusion - parents are abroad
Here comes numerous questions - so sorry about the hassle! I only found out yesterday that a gift tax effectively exists as part of inheritance tax, so I am trying to learn more about this, especially since my dad is getting quite poorly and we are all trying to sort out inheritance etc issues given it has never been…
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Ex - Pat Tax rebate ...is this true ...??
Hi there I wanted to get some help on something that has just come to my attention. I have been one of the lucky ones and emigrated to lovely Australia ( don't hate me ). Someone has told me that I am entitled to claim back some monies form the UK tax office I have only left the country in August 2015, prior to this I have…
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Tax on Rental Income
If my only income is from a property rental can I use my full personal allowance before paying tax?
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how do I nominate a different payee for my tax rebate?
Hi, I have lived and worked in Asia for over a year and a half. I no longer have a UK bank account and have no plans to return to UK anytime soon. Can I nominate a relative to have the rebate made to them by reissue? If so, is there guidance available for doing this? Thank you for any help you can provide.
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Self assessment penelty
I live with my parents, both me and my mother suffer pretty severe mental illness, I am currently on esa and my mother is retired. Recently we have been getting threatning letters stating we owe £1600 due to late filing a self assement tax, this would be backbreaking and we really cannot afford to pay this. My question is…
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Reducing CGT with a pension?
Hi, I'm about to sell a rental property and realise a capital gain. I was just wondering if there is any way a pension can be used to reduce the CGT liability? I should say at this point that I don't have any form of pension at all (and know less than nothing about them), so if this is the case it would be a decent jump…
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Petition to have personal allowance re-instated for everyone
We currently have a 62% tax band due to people losing their personal allowance, which is causing a lot of headaches regards retaining good people in the UK. Please sign and pass on the link. https://petition.parliament.uk/petitions/109941