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Sick of incorrect tax codes!
I've been job hopping over the last few years, I think I've done 4 jobs in 5 years, often changing employers half way through the tax year. It seems that every time I move, despite giving my P45 to my new employer HMRC still thinks I've under paid tax and they adjust my tax code a few months after starting my new…
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When does the K Code arrive?
In just over two weeks, my partner's state pension starts. He already has (and has had for weeks) the HMRC Certificate of Age Exemption = no employee's NIC will be due from that date. When does the K Code notice arrive? They know his state pension will start in just over two weeks, but until I get the K Code notice,…
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High Rate Tax band and £1000 interest allowance?
I'm just doing some forward planning for drawdown pension deduction. In tax year 2017/8 the BR allowance goes to 45k, which makes a drawdown of £60k perfect. £15k(25%) tax free, £45k at 20%. No SP at this stage. However, if i earn, lets say £1001 in interest outside any sort of wrapper am I going to hit a double whammy…
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Utr
ok there are 10 lads all filled in online SA1 been nearly 4 weeks not one of them has received anything through the post regarding utr or filing, what is the problem this year
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PAYE Calculations
I like to keep track of money including what I should be paying in tax, NI, and student loan. Something that's always been nagging me is how my PAYE deductions are calculated by my employer. I've looked up all the tax free allowances and rates and had a go at calculating them myself, but I'm always a few pennies out. When…
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Giftaid and higher rate tax
Hello everyone - first post on the forum... I'm confused about HMRC's interpretation of tax relief for higher / additional rate taxpayers who make charitable donations through Giftaid. The whole idea of the scheme is that charitable donations are tax free. With a Giftaid declaration, the charity can claim back basic rate…
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New to self assessment
Hi Everyone, I took early retirement in Dec 2014. I now have the the opportunity to do occasional work, I have UTR number which I have given to the person giving me the work. He tells me he will stop my tax at source so will I need to fill in a self assessment form at some point? And if so would i need to declare my…
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Import Tax on Books?
Hi, I bought an item online - it's a Japanese book which comes complete with a pair of action figures. The whole lot cost me USD$99. When originally released in Japan, one could get the action figures only by sending off a coupon that came with the book - that was literally the only way you could officially get them. I…
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Tax code
Hello All, Apologies if this is not the right place for this. I am trying to find out what tax code I should be on as my tax code looks incorrect. I used to be on one tax code to allow for professional union fees up to £192 and now I should be on that as well as marriage allowance. Can anyone advise? Thanks :)
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CGT loss 30 day rule
So I understand a loss is only a loss if the shares were not bought back for 30 days. Can somebody clarify the rule please. I sold Whole Foods on 24th Aug and bought them back on 23 Sept. If Day 1 is 24th Aug then I am ok on 30 day rule. If day 1 is on 25th Aug then I am not ok on 30 day rule and I'll lose out on a loss of…
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Council tax
Hi, I rent a flat and pay full council tax but with the single person occupancy discount. My boyfriend rents a council flat and also pays council tax and claims the single occupancy discount. I spend around 5 nights a week living at his flat, but will continue to rent my flat and spend 2-3 nights a week there. Is there any…
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Rental Income Expenses?
Hi all Wife and I own 3 rental properties (50/50 with my brother), 1 mortgaged, 2 owned outright Wife and I also own our main residence, mortgaged. A year ago, my wife and kids moved out of our main residence and into one of the unmortgaged rentals, therefore it's not a rental any more, since then we've stopped claiming…
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HMRC always 'too busy'
I've tried contacting HMRC a few times over the last week as my tax code is wrong, but I can never get through. I get a message along the lines of "we're unable to deal with your call due to high call volumes". I moved to a different employer last Nov and it totally messed up my tax code. HMRC seem to think I owe them…
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How much Company Car tax payable?
Hi all, I would like some help regarding company car tax if possible. I just wanted to query the amount of tax I would pay on the company car, as I am a little bit unsure as to how much. For theoretical purposes, the car below which I have taken from a company car list: Audi A3 4 Door Saloon 2.0 TDI 150 Sport S Tronic 15…
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Uniform Tax Relief Claim 2013/14 - Too Late ?
I've applied for the flat rate expense allowance for uniform for the tax year 2013-14 and I've had a letter back from HMRC thanking me for submitting an updated Self Assessment tax return (Which I haven't done - it was a claim on a P87 online form). The letter goes on to say the deadline for this expired on 31 January…
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Voluntary NI payment not banked...how long?
Hi all, My wife sent a cheque (from my account, if that makes any difference) to HMRC to make-up a NI year by paying the outstanding amount of £24.12. This was sent around a month ago. No response has been received and the cheque hasn't came out of my bank account yet. I was just wondering if anyone knew of timescales for…
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IHT Mitigation, Gifting, Estate Planning, CGT etc…
Hello All First time poster here but I am a long time lurker! Basically here’s the situation, my uncle and aunty owned a house outright and they have no children. In January last year my uncle passed away and therefore the house now belongs to my aunt (they were joint tenants). The probate valuation on the house was £750k.…
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IHT/Gifting/Joint Accounts
My mum has a small lump sum she'd like to gift to my 2 siblings and I, plus a smaller amount to her grandchildren. I currently have a joint savings account with her, as does one of my sisters. My question is, will this count as a gift towards her estate should she pass in the next 7 years? What would happen if she…
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CGT on Property for Deed of Trust After Splitting with Partner
In a strange situation (well in that my Googling hasn't returned much after days of searching) and hoping that someone can help me before I pay someone, so I at least know what I'm talking about. I bought a property 4 years ago and have lived in it the whole time, however I recently split up with my girlfriend and we are…
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Capital gains tax on home sale advise
Probably a simple answer to this, If I'm a self employed painter and decorator working from home and i sell my own personal home that I've lived in for the past 3-4 years. Do I pay capital gains tax? Many thanks
