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Working As A Non-Dom - Options
Hello, I'm on a sabbatical from medical school and I'm in the pipeline for some very well paid tutoring jobs abroad. The salary is about 9k per month, and if I found a (legal!) way to avoid tax then I'd be saving a heck of a lot of money. Does anyone have any suggestions on how I avoid paying UK tax whilst I'm working in…
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Healthcare, hubby and Tax
Hi guys I get personal healthcare through work and pay for my hubby too. I know I should pay tax on my benefit but do I pay tax on my hubby's benefit? Came home to a letter stating I owe £300 due to underpayment of private healthcare
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P11d self assessment advice
Hi, I'm filling in an online self assessment tax form for the very first ever (yay!) However I am confused. I receive medical benefits from my company, they are listed in my P11d document: The part of the p11d is section "I" and my benefits are listed thus (where x is the figure on the document) Private medical treatment…
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How much tax would I pay?
Gross salary is 48k per year. Paid over 13 4 weekly periods a year. Have made so far around 8k in bonus, currently I pay 40% tax (I think) very fortunate to be getting an incredible bonus in December of 75k, what % of this would be taxed? I know about salary sacrifice for pension etc but trying to work out how much I would…
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Rental income
Recently rented out my home, and have moved in with my parents. My mortgage is £350pm I rent it out for £500 I receive £440 of that after estate agent fees I pay my parents £200pm New to this so not sure what I do for a self assessment, if I have to do it etc. This is a temporary measure where I will return to my home as…
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Having the business pay your tax?
I work within a GP surgery and am concerned about the tax aspects of the GP's pay and his overall financial dealings. There are many examples within the accounts whereby the above named would simply pay himself whatever he liked for any particular month. Business rates were once refunded as they had been overpaid for a…
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Hmrc no longer accepting credit card payments from 31/01/18
Hi just thought I would give you the heads up that you will no longer be able to pay HMRC via credit card from 31/01/17.
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Probably a dumb question but please humour me
I have not paid any tax for years and therefore have always filled in the declaration so that I receive gross interest on savings . Now that plan has changed,which I knew about,but I got a letter from HMRC which didn't explain what I need to know.I am way off earning enough to pay tax,i receive a small state pension and an…
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payroll and self employment national insurance question
how does it work for national insurance contributions if on payroll partly for some jobs? does it affect the national insurance contributions in any way?
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husband with cancer
Hello, am in a really horrible situation and if there is anybody that can help or point me in the right direction I would be extremely grateful, thank you. Me and my husband own some holiday homes but the business is in his name, I am just down as a house wife. My husband got diagnosed with terminal cancer and has be given…
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Research and development tax credits
Hi, A few months ago I was at a trade show and came across a so-called government initiative, R&D Tax Credits. The whole thing appeared to be just too good to be true. I Googled 'R and D Tax Credits' and sure enough it’s all backed up by the Government but they don't help with the claim. There are lots of R and D…
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Income Tax Bands - Gross Income
When determining Gross Income for Income Tax Bands....to determine whether High Rate Taxpayer or not,do you include ISA Interest and ISA Dividends?
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If my name is on my mum's mortgage will I avoid inheritance tax?
Hi everyone, My mum currently owns a Buy To Let property and her name, and my cousin's is on the mortgage (my cousin helped her buy the property). Now, however, she wants to take my cousin's name off the mortgage and put my name on it instead, joined with hers. This is due to the belief that in doing so I will completely…
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tax codes and jobs
Not sure where to put this - which forum but I thought someone here might help. A relative had 2 jobs - his main one and a 2nd job. The tax code 1156X was applied to the first job so the 2nd job he paid tax on everything that was earned, tax code BR X. (he had flat rate expenses of £60 for the main job as he washed his own…
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Council Tax after probate
Received probate in January for my late Mother in Law's estate and house. Was advised by Newcastle on Tyne Council that we would have 6 months free of Council Tax. That ended in July, and we still haven't sold the house. Should the Council contact us to instigate the tax payments again? Or is it our responsibility? Will we…
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Avoid cgt when selling business
Hi, My partner is planning to sell his business soon and has been told by his accountant that he will be eligible for entrepreneur relief. He's a sole trader but after 34 years will only realise about 100k. We need every penny as we have a large mortgage we'd like to pay off with the money. Can he do anything to avoid or…
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Partner receiving income on let property
Hello everyone! I'm new around here and looking for some advice. I'm in a situation where I currently own a property outright. I'm just about to purchase another property with my long term partner as our family home. I am currently letting my property and receiving the income from it which I am paying tax on. When we move…
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Delayed Tax Rebate
I have only just received my tax rebate owed to me from May 2017 and without any interest! Is anyone else in the same position?
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Can I donate my small income to charity
Hi I am totally out of my depth here. I have just set up a running group under the umbrella of a larger one. My members will pay a registration fee which goes to the main club but the £2 per week per runner comes to me. I have no interest in making money (this is a hobby/passion). So if I keep records just in case but…
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Claiming Tax Relief on money spent on electricity for business trips in company car
Hi I just discovered that it maybe possible to claim for money spent on charging my hybrid company car. I just found this on the GOV . UK website: Using a company car for business You can claim tax relief on the money you’ve spent on fuel or electricity for business trips in your company car. Keep records to show the…