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Self Assessment help please
I am about to register as self employed , all my earnings will be via paypal but in USD, i will then be converting to GBP before withdrawing to a bank account set up for business, ive been told i just need to count the GBP totals Now when it comes to the tax return. what do i fill in, ive tried looking on net but get…
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Capital gains tax.
A few years ago we purchased a piece of land next to our house. We have only ever used it as a garden but have kept the deeds separate so that if we wanted to sell it at a later date we could. That day has now come and we are looking to sell up. Looking into CGT it seems that if you sell off some of your garden, you can…
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Helping paying tax?
Hi all, I am looking for some help in regards to filing my tax for 2015. I registered as self employed in September 2015. From September 2015 - April 2016 I received around $25,000 via PayPal, all in USD. The tax year ended a few months ago so I really need to get this all sorted but it's super scary for me. I'm young and…
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Company liquidation - making use of the loss for CGT
Hi, A long time ago I bought £3500 worth of shares in the JOVE Investment trust. It went into liquidation and we got back close to £0. I want to sell some other shares and I was wondering if I can still make use of this loss. (Ie I want to sell as many shares as possibel without paying any CGT). According to this…
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Issue with 10/11 and 11/12 tax
Hi all I have intervened in an ongoing tax issue that my elderly Dad has been unable to solve. There were several problems, some of which I have started to resolve and some I need a bit of help with. my Dad was made redundant in May 2010, aged 67, and joined another firm as a consultant, essentially going self employed for…
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Is this tax refund email genuine?
I suspect I know the answer, but does this seem genuine? I wouldn't click the links, but is it worth calling HMRC or applying via their website?
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The Duke of Westminster
Will his beneficiaries be paying £3.32 billion in inheritence tax or are Dukes exempt? http://www.bbc.co.uk/news/uk-37029915
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Can a locum claim mileage/travel costs?
If you are not employed by anyone and don't have a limited company but take work (charging a daily rate which you invoice the company you work for) at various places when they need cover due to sickness, holidays, maternity cover etc can you claim mileage on your tax return? This is for an optometrist working in various…
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Paying 15-16 tax through 17-18 PAYE
So, the question on the self assessment tax return is: To me that seems like a no-brainer? They're going to delay requiring payment from end of January 2017 to April 2017, and then give me a 12 month free interest loan to pay off? It seems to me that I should stash the money in savings and pay it off slowly from PAYE…
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Capital gains on property owned by 4 people
We are attempting to fill in a self assessment for the first time. My husband owned a quarter share in a property with aunt, uncle, mum and dad. Can anyone advice how input this on the tax return? We have a list of all improvement costs and fees from my father in laws accountant but obviously relating to the property as a…
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Should I be paying VAT?
I am a self employed hairdresser working within a salon environment full time. I was hired on a 50/50 cut arrangement, with cost of products used also deducted. I have received my first wage slip, and the owner of the salon has deducted 20% VAT from my total earnings, and has then taken a 50% cut, as well as deducting cost…
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Shared accommodation - HELP
Hi moved to a shared accommodation I found on spareroom.co.uk a few weeks ago, since we really don't mind sharing the same space with another person to save some £££. This is an annex with a small room+ small toilet+ small kitchen that has "all bills included". Today the person that actually owns the place told me that…
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'Bed and ISA' and CGT
Hi All, A quick and easy question (I hope) :- I've got some shares to sell in an American company, more than my Capital Gains for this year. Is it legitimate to transfer £15k or these shares straight into a Stocks and Shares ISA by using the :beer:'Bed and ISA' method, and then to sell a day later without incurring any…
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Did I get my Self Assessment wrong?
For last years tax return I was enrolled in the new Beta program HMRC rolled out. Having been through the usual shenanigans of Gateway and postal codes, this seemed a really good idea. However all is not well. It appears I made some mistakes and did not add information from my P11D, and additionally during the tax year my…
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NI Due on Variable Income
Am I right in thinking NI applies to the money you have been paid in a particular week/month rather than being averaged out over the year? I ask as my monthly PAYE gross pay can vary between £1,500 and £7,000, although will never exceed £40,000 annually. This means on a high pay month some of my salary has the lower limit…
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Receiving Foreign gift money
Hi, I am to receive a sum of £200k as a gift from a non blood relation. I know that there are no tax implications in U.K. 1. what documentation should I have to proove that it's not my income but a gift? 2. The person transferring the money owns a company in Dubai. Is it a problem if the money is transferred from his…
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Can you please help check a few things for my self assessment?
Hello everyone, I am doing a self assessment for the first time and I am a little nervous. I hope you can help check for me. It should be fairly simple, my circumstances are not too complicated. I am single, employed in one higher rate tax job paying tax with PAYE, I contribute to a SIPP and get some UK bank interest. No…
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Solar Panelling
Hi I own a second property that is let. I am being a nice landlord and funding central heating as the gas wall heaters are about kaput now. They're 30yrs old. Obviously that is a capital investment and I have to retain the record to add to my property purchase costs. I'm considering looking into solar panelling for the…
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Which band(s) nailed it on their first album and never did anything as good after?
Which band(s) nailed it on their first album and never did anything as good after?
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Explain my tax code
Can someone explain my tax code before I spend an hour holding onto the HMRC help line. I fill in a tax return every year and Owe Nothing This year I have been given a K code, K codes are to pay for unclaimed tax through your wages. I understand that. I don't understand the value the have applied, so here are the details…
