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Tax rebate?
Right, it's getting near to that time of year again where I send off all my payslips etc to the wonderful people at hmrc and they tell me they charged me top much tax and give me back some money...in theory. I've had a bit of a read and it looks as though based on my employment, I should be able to claim back a fixed…
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How much would I save with a Company Car?
Current situation is as follows: Private leased vehicle - £375/month (incls tax/MOT) Insurance - £75/month Service/tyres etc say £40 Total - £500/month *plus private mileage *My employer pays for work mileage at 40p/mile. Private mileage I pay for. I am interested in getting a company car next year when my lease expires.…
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Seem to be PAYING for Gift Aid
Hi, Another SA question - completing one for the first time. I'm a higher-rate tax payer. I paid £601 to a few charities over the 14/15 tax year, so entered it on my charitable giving page. (Sadly I can't remember if I gift-aided it or not - pretty sure I did.) When I looked at my calculation page, it seems I'm paying out…
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New rent - self assessment question
Hi, My dad gifted myself and my sister a small flat with modest rental income last year. I'm currently PAYE in the 40% bracket. My sister was made redundant early last year and it coincided with her having a second child, so she decided to become a house wife/mum for the foreseeable future. My question is, I think I want…
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emergency tax refund
I was out of work for 5 months and signed on the last 4 weeks for job seekers allowance. I started my new job and was paying emergency tax for the first 2 months(salary monthly pay). Am I entitled to a emergency tax refund as I now have a tax code of 1066LM 1 but have had no tax rebate which I thought I would be entitled…
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Split of tax on joint savings accounts
I am just trying to plan ahead for when the tax free savings allowance comes in in April 2016, as I pay 40% tax (so have the limit of £500 which I will be over), whereas my wife pays 20% tax (so gets the full £1000). We have some joint savings accounts and I thought tax on these was always split 50:50, however I stumbled…
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Lost online password self assessment
Does anyone know if a new password will come back online immediately or is there a waiting time. Am reluctant to ask for one another becomes immediately invalid and post takes seven days...
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HMRC Uniform Refund
Applied back for the last 4 years but only got £45 cheque. Thought it should be more?
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P11 incorrect benefits in kind
Hi All, I'm really hoping someone can help me with this as I'm at my wits end! I received my P11 form from a former employee (just after I stopped working there). The form states that I received £4,799 benefits in kind which was incorrect as I didn't receive any benefits from them at all which they agree to as do their…
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Telling HMRC about inherited house repairs
Hello all Strange one, if someone has inherited 1/2 a house from family due to death, and as yet the house has not been rented out, but have spent lots of money refurbing getting ready for rental, do HMRC need to know about this if the person is PAYE only? Appreciate when this is rented an annual tax return will need to be…
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Un-Married Tax Efficiancy
Hi, I'm hoping for some advice about how I can save money on my tax bill. I live with my long time girlfriend (lets call her Julia, because that is her name) and my 2 kids. I earn about 44k before tax (so just in the higher rate tax band). Julia is a full time mum but does a little bit of outside catering (maybe 1k a year…
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Tax Code 1066L
Afternoon Everyone I've been trying to decifer my payslip as my work like to make it extra confusing.... Basically I'm 28, earning £17,400 a year but the past few months I've been doing some overtime which is coming in at approx £300 extra a month. According to my payslip my tax code is 1066L? I thought the current one was…
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Capital allowances - disposal/cease trading
Hi all, Just a couple of quick questions regarding Capital Allowances: 1. Say, I bring a personally owned item into my business. I bought it second hand some years ago and it has appreciated in value and may continue to do so. I understand I have the choice of bringing it in for what it cost me originally or the market…
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Benefits in Kind
Apologies in advance if this has been posted before, I did a search and couldn't find anything relevant. I get some BiK, health insurance, death in service & spouse insurance. My issue is that these are all taxed at source and I do not receive a P11D, but HMRC has been adding a deduction to my tax code for the health…
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Taxed UK interest - Self Assessment Tax Return
Hi, I'm so desperate to find the answer. I've been filling in a tax return and the calculations at the end show that I owe a bit of tax. (I've made a loss on my self-employment so I assume I don't need to pay tax on this. And I pay tax through my PAYE.) I have no idea why I have to pay tax around £41. So, I've been…
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Capital gains when transferring a mortgage
We have a rental property with a let mortgage which we want to sell and purchase another rental property with the same lender and another buy-to-let mortgage. Will I be incurring any capital gains tax on the initial sale despite essentially moving the mortgage onto another property. :)
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Income from lodger: Help! Where does it go on the SA form?
I am completing my SA online. I do not own my property, I am the tenant and had a shortfall on my income so I've had to let my bedroom out to pay my bills and live. I have gone over the £4,250 threshold one is allowed to earn tax free , so I selected 'Yes' next to 'Did you receive any income from UK Property including…
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IHT repayments
I have been waiting several weeks for repayment from HMRC of overpaid inheritance tax and am unable to get an estimated repayment date. Can anyone tell me of similar problem and what I can do about it? And do HMRC have a target date for such a repayment, due in my case to over-optimistic valuations of house and property…
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Reduce CGT on inherited house by transfer to other family to use their allowance
Hi The title describes the basics. Doing some basic arithmetic I worked out that for our family home, valued for probate at 600K and saleable now at 700K, will incurr about £21,000 CGT if sold as part of the estate, but if we go to the trouble of transferring it to the names of myself and all three siblings, we will each…
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Student Tax Reclaim
Hello everyone, I am currently a third year student. During my summer and Christmas holidays I worked for Marks and Spencer's as a temp. I have only recently realized that I have been taxed too much from both jobs. Can I claim back the tax for both? Also if I can do I need to make two separate claims or just one? Thank you.
