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Emergency tax
Please move if in the wrong section. My wife moved to England to live with me in 2014 and started her first job in the UK in September 2015. She has been paying emergency tax ever since, tax code ot. Because she isn't really clued up on the English tax system when ever she asks at work they tell her to contact the taxman.…
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Limited Liability Company
Hi, I'm sure that this thread will come across as very naïve, but I could do with some advice. I've always been a PAYE for various companies. In November I unexpectedly lost my job. I was a higher rate tax payer. When I left my last job the company's IFA who I saw to find out about my pension mentioned that I if I was…
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Quick HypoTax Question
EDIT - title was meant to say Quick Hypothetical Tax Question - sorry Good Afternoon All Just a really quick, hopefully basic tax question...... I will be moving in with my partner in the near future and was debating between selling my house or renting it out. If I rent it out, I know I need to declare everything to HMRC,…
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First year as self employed
Hi all My partner has registered in May 2015 as self employed for the first time. She is doing dog sitting/cleaning/home help earning between £350-£500 a month. As she isn't going to earn enough to pay tax we hadn't really considered the things she could claim for such as petrol and mobile use - we thought as she would be…
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rental property tax
I rent out a UK property The property was empty for a short period in March 2015, i.e. in the tax year 2014-15 I received a council tax demand for the empty period, but I did not pay it until after 6 April, i.e. in the tax year 2015-16 I believe this can be deducted from rental profits in my self assessment. Should it go…
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Self Assessment query - medical insurance already being collected through tax code?
Evening all, I am trying to complete my tax return online for 2014 / 2015 and am running into some issues.... I am a 40% taxpayer, and had medical insurance through my employer. I received a letter from HMRC in Aug 2015 saying that that they were going to collect the tax due on this amount through my tax code for 2015 /…
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effective date for council tax rebanding
Great result in getting our council tax band lowered BUT only effective form the date I called the VOA despite the fact that we have lived at property for 15 years. Would be grateful to hear if any one else had this problem and how they resolved it as I can't find anyone else talking about this Thanks.
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Ceased Trading And SA Tax
Hi, I hope you could advise me, I've looked on the HMRC website with no clear answer, my question is this; I ceased trading (Sole Trader) on December 2013. How long must I keep submitting my Self Assessment? I have notified HMRC I have ceased trading along with my 2012/13 SA along with amount of tax owed and paid it. I…
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Bringing Money to the Uk From Abroad
Hey Apologies of this is not the correct forum. My Partner has recently sold some land in Poland and she now has an ammount of money in Zloty in Poland. converting this its above £100,000 but not massively so at current conversion rates. As far as she is aware she hasnt paid any tax in poland (the land was technically her…
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Self-assessed payments and return date
Hi, Just wondering (first year returning one for me, so trickier) about the dates of the return and payment both being Jan 31st. I'm actually likely to claim that I don't owe tax, and am in fact owed money, so I won't make any payment. If they think I am not correct (as this is my first time) I presume they would give me…
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Do I Have to Give New Employer P45?
Hi I've been doing temp jobs and zero hour contracts recently. I quit one of the temp jobs, as it really wasn't for me. After that I did a zero hour contract for Christmas. I've received a P45 for the first job I quit, however nothing for the zero hour contract job. Should I get a P45 for the zero hour contract job? Also,…
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Self assessment
I sold my buy to let property on Jan 15 after having it for 3 years. I've only ever paid very little tax on it. I want to know if I can use the costs involved in selling the property against any profit I made on rental income. I am not liable to capital gains as I made a loss on the sale. If I can claim where on the tax…
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Employee Discounted Stock Purchase - Tax implications
My employer offers an 'Employee Discounted Stock Purchase' plan whereby I can elect to have up to 10% of my gross salary taken by payroll deduction and invested in company shares. On top of the amount I contribute, my employer will top up a further 15%. It seems that I will not be the 'owner' of this stock and that our…
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Joint Tenants/Tenants in Common
Can anyone tell me the things I should be considering when deciding whether to add my partner to my rental property as a joint tenant or tenants in common with unequal shares? As I don't work & he gets a full wage I was planning on adding him with only a 1% share so he is liable for only 1% tax however as we are hoping to…
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Consultancy paid through employer
Hi, I've carried out some consultancy work arranged by my employer - My employer terms it supported consultancy where they receive a cut. I have a choice of myself being paid through PAYE or Gross. Obviously, if I receive the payment Gross then I will have to complete a self assessment and be subject to Class 2/4 NI. If I…
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Self Assessment Capital Allowance - am I doing it right?
Hi, Just trying to complete my Tax Return for my 2nd year of Self-employment (14-15), and am struggling to understand the different elements of the Capital Allowances. I had an accountant to do my 1st year and it all looked rather straight forward, that is apart from this Capital Allowance section. I have read the HMRC…
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Cash Basis & late payment
Hello, I use cash basis for accounting and I received a payment for services two days after my tax year ends, It would be much better for me if this payment could be included in the previous year, is there anything I can do or should I put it down to a costly lesson? Thanks
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Online Self Assessment
Hi Guys Could someone please show me what the online form actually looks like for filing a self assessment return? I have my UTR number and a log in for the Government Gateway however when I click on the Self Assessment form, it comes up with the window for a business account, as in this link:…
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Tax rebate travelling abroad
I am leaving the country on 5th April to go travelling abroad for a year, therefore I won't be working at all during the tax year April 2016 - April 2017. At present my official work leaving date is April 8th and because I am on a salary, I will receive pay for April 6th, 7th, 8th even though I am not in the country. If I…
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Bonus after I left the company
Hi Hoping this is a straight forward answer (if thats possible where tax is concerned!)... I left a company in July and was told I would be paid a 10% bonus. They have then faffed around and tried to refuse paying it etc etc. They have now agreed to pay. Since I left them I have gone on to a new job. Does anyone know if I…
