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What does 127T VAT code mean? Is it reclaimable?
Hi there, My partner recently started some part time work and their tax code is 127T. They are over 65. They are currently being taxed, is this reclaimable?
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self assessment - savings interest
Hi folks, So in my 16/17 return, I went through all my bank 'annual summaries' to provide HMRC with untaxed interest figures. However I had also received a letter saying that banks are now reporting this directly to HMRC and they'd automatically deduct as i'm PAYE. I'm quite puzzled! a) should i have put in my savings…
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What can I claim tax back
When I started working for my current employer, I was temporarily placed overseas and given a transportation allowance to help cover the costs of renting a vehicle or using public transportation. Likewise, on my return to the UK, I was paid a relocation allowance to help with the costs of moving somewhere within commutable…
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VAT when selling through RedBubble
Hi, I've recently started selling a few items through RedBubble. My company is already registered in the UK for VAT so I have provided RedBubble with my VAT number. I'm struggling to get my head around what I need to declare on my VAT return in terms of these sales. There have been sales to people in the UK, elsewhere in…
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Living in Germany but working for UK company
Hi all, I'm going to be working in a home-office in Germany in a month or so but working for a British company, I will still go back to the UK for one or two weeks of a month to work in office and stay with my parents. Which steps do I need to take regarding tax?.. Thanks!
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tax code confusion
my husband has two jobs, one full time and one as an on-call firefighter. We have just received his tax code notice for 18/19 and the tax code for his main job is 445T. For some reason his personal allowance is only £4830, and he has flat rate job expense allowance of £60 but has an adjustment of £435 for underpaid tax…
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Claiming back VAT?
I've bought a high value item from a gallery in LA. I'm using a London shipping company to get it here safely and insured. There is no customs as it's artwork, I've been advised. Though I'm liable for 5% VAT. I was going to mark down the value of the package. The shipping company says I can no longer do this as the item is…
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Self Assesment on BTL property
Hi, Was just curious if anyone knew what declarations were required for a rental income which exceeds 6k annually before mortgage repayments etc are considered? As far as I understand only a self-assesment with HMRC, but seem to find conflicting opinions. Furthermore, must this be declared separately to a sole trader…
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Reclaiming Pensioner bond tax
My 3 year over 65 bond has just matured. I have left the money in another 3 year bond but need to reclaim the income tax paid on it. I contacted HMRC & have been sent form R40M to reclaim tax deducted from savings & investments. I am a non taxpayer & only wish to reclaim this money. Can anyone tell me how to find out how…
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Correcting self assessment returns
Hello I have noticed some omissions in my tax returns that neither result in me owing more tax or me being owed tax, e.g. a small amount of unreported bank interest and some dividend payments. How far back should i make the corrections if no tax is owed? I phoned hmrc but they wouldnt really give me a straight answer. What…
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Can anyone explain take home pay in bonus month?
I am on a salary of around £35k and have been lucky enough to have been awarded a bonus of just over £2,250 payable in my next pay. This is gross of deductions so I'm curious to see how much of this I can actually expect to pocket. With my current tax banding and my student loan being from repayment plan 1 I'd expect to be…
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886l non !!!
Hi everyone, I am not sure if this is the right place for this post, so apologies if not. I have recently started a new job (Dec 17) and I am being paid under the 886L NONCUM tax code. I am not sure if this is correct and/or whether I need to rectify this? I have done some researching and I have to say that I am struggling…
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Council tax for 1 full time & 1 part time student
Hello, I’m a first time buyer and the property I’m looking at is Band D for Council Tax which is £1,600 which is a hefty amount. I know if all occupants of a house are full time students you pay zero council tax. However, while I’m an employed full time student my girlfriend is an unemployed part time student. While I’m…
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Paying too much tax in two weeks wages
Phoned income tax cs this morning and asked why I am paying £254.75 income tax for. 2 weeks wages.Usually pay approx £75 a week tax. I forgot to submiti my time sheet for one week and had to submit two in one week. Does this make sense he told the two separate weeks wages have been counted as one and therefore am paying…
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Single Occupancy Council Tax Advice Needed.
Hi All, I hope I'm posting this in the right place. I moved into my current house nearly five years ago, and have owned it for just over two years; throughout that time I have lived alone and had the single person discount applied to my council tax. However I have recieved a letter in the post this morning from the council…
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Digital tax for self employed
Can some explain to me what the new digital tax is? I'm self employed and running a small business. At the moment I file my self assessment for the year, pay what I need to and that's it until the next year. What is the difference with the digital tax? And when will I need to start doing it? Thanks.
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Claiming back utilities costs
Hello everyone, I am due to start working for an American company, who will be me my salary as a gross fee. It is my responsibility to then save and pay the tax and national insurance contributions. I will be working from home and wanted to know what I am able to claim back against my tax, in terms of household bills? I…
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Grandparent gift of business property or money
I'm finding this a bit complicated and want some ideas please. A grandparent who has retired wants to give my child the proceeds from the sale of a business property which they no longer need. The plan is for the grandparent to sell and gift the money. I think if they did this they would pay capital gains tax at 10% on the…
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Tax Rebate
Hi My OH requires a licence for his work for which he can claim rebate. The licence requires renewing every 2 years, how do we know we claimed for the last licence. Is it something to do with the tax code? Thanks Ms C
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Paying Inland rev Tax bill at bank,their SortCode?
If you want to go to the bank to make a tax payment, for an amount the inland revenue have sent you that you owe them, if you want to go to the bank to pay this as a transfer from your bank account to them, then what is the Sort code + account number for the tax payment? it is for tax for Income tax. I suppose the REF…
