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Cutting tax
Archives for December 2016
Discussion List
Transferring USD back to UK
I am considering selling a property in th USA and would plan to transfer the proceeds back home to the UK. I will not be generating any capital gains as the sale proceeds will likely result in an overall loss. Are there any considerations I need to be aware of.
CGT on EMI scheme shares
EMI share options issued 10 years ago, and then this year the company (employer) " will agree to buy the shares, and will make a loan to you to allow the transaction to be completed, and at the same time, the Company will buy the shares from you at an agreed valuation, as set out in the table below." Employee buys 20…
Starting to pay tax (Self-employed)
Hi everyone, I really hope you can help me; I'm very worried and want to get the process of paying tax sorted out. I'm 25 and have done so many different things: jobs with different companies, college, university, but mainly, and what this thread is mainly in reference to, cash-in-hand work for a builder (a family friend).…
Self return tax form
Hi all, If I have to do self assessment tax return, does sell of my flat with considerable loss be seen as tax adjustment or something I can offset my tax against? I sold my flat which was rented for 5 years with 13k loss compared to what i paid for it back few years ago
Inheritance tax confusion
Hi, My Gran would not be subject to inheritance tax as her estate isn't big enough, therefore do the rules around gift giving apply? I know the allowance is up to £3000 but does that apply even if you're not subject to inheritance tax? Everything I read is related to reducing your liability to inheritance tax.
Unfair HMRC Treatment?
Hi, first time post, hope this hasn't been covered elsewhere already. TL;DR Having completed my tax return for the 15-16 tax year, I've just found out I owe over £500 in tax. HMRC failed to notify me of my incorrect tax code resulting in me not knowing to correct it and ending up underpaying. Detailed History In the 14-15…
Ltd company questions
Hi all I have set up a Ltd company and I have 3 questions 1) VAT - for my current project I will under the VAT registration limit (just) as it runs to August 2017 but I have incurred significant costs in relation to purchasing computer equipment, training courses and software (project manager) so is it worth registering to…
Paying income tax in installments
I am unable to pay full income tax bill on the 31st of Jan due to not working full time due to illness. If I pay in installments will I have to pay interest if I get a letter from my GP?
Reclaiming tax paid on interest (R185)
Earlier this year I had a complaint upheld against Sun Life Financial of Canada regarding a mis-sold investment. As a result they repaid me my original payments, plus interest. I received an R185 'Certificate of deduction of income tax' from them showing the interest and deducting 20% income tax. My income this year…
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