We’d like to remind Forumites to please avoid political debate on the Forum.
📨
Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Cutting tax
Archives for June 2016
Discussion List
Overpaid tax last month - when will it be returned?
So I started a new job in April, and this caused someone at HMRC to have some sort of seizure and change my tax code from "1120L" to "20T". As such I paid about £350 more income tax in May's salary (through PAYE) than I should have. :( It's now been rectified and good old 1120L is back. :j I'm just wondering, will the…
Advice on mileage tax releif, cant work this out?
Hi, can someone help shed some light on how P87 works when claiming mileage back. I sent off the form (p87) online in March 2016, for a claim of 3050 miles which worked out to a total of £1372.50 My employer has paid £351.18 out of the 3050 miles at, 12p and 11p a mile it keeps changing every few months. So my total end…
paying payment on account
Hello, I've just done my tax return for 2015-16. This is new to me as I usually do it in January. It is also new to be making some money so paying tax is unpleasant. I have a 'payment on account' due at the end of July, and my question is - should I wait until a few days before to pay it, or pay it now and get it out of…
Venues new payment method - Invoice instead of 'signing off' - advice
My husband is a musician with a local band. The band is a Collective Jam Band with about 20 floating members, between 5-10 members will play at each gig, depending on the nature of it. It's an amateur band that makes very little (no ;) ) money - anything they are paid is generally swallowed (and some) by travel and…
Capital Gains Question
I have a house which I bought to live in and did so for a while. It's currently rented and I'm going to sell it. The potential profit will be mostly offset by private residence relief and lettings relief. The gain that is left is well under the £11000 or so that you are allowed every year. Do I have to fill out the capital…
Tax Free Income?
The personal savings allowance is still classed as taxable income but the tax rate is 0%. The income still needs to be declared and is used to decide the type of taxpayer you are - basic, higher or additional. Is this the same of the £5,000 dividend allowance. Do dividends under £5,000 pa in total need to be declared or…
if someone pays occasional cheque into bank will HMRC know?
Got a friend who is PAYEE and they pay his taxes. On side he does gardening and wot not and usually they pay cash, the other week they paid by cheque. As he isn't registered for tax he didn't know whether to pay the cheque or not. Would HMRC spot the occasional cheque or bank transfer once every 6 months- a year that he…
Capital Gains Tax and share losses
Hello. Never done a tax return and intend to get an accountant to do it but I have a couple of questions. I have a CGT for my portion of a property sale for FY 15/16. In FY 15/16 I sold some shares at a loss but never registered that loss. Can I register it now and count it against the CGT bill. Also I've some other shares…
Money Gift From Parent
Hi could some please advise me if it's OK for my mother to gift me £7500 without it becoming a tax issue. Thanks in advance
Confirm your email address to Create Threads and Reply
Is this how you want to be seen?
We see you are using a default avatar. It takes only a few seconds to pick a picture.
