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Scrip dividends and tax...
In the tax year 2017/18 i received some dividends as scrips. Do i have to include these on my tax return i.e are they treated exactly the same as if i had received the cash dividend instead? I only ask as in one of the on line tax calcs, it asks if i received any divis as scrips ?? Thanks all
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I saved some tax!
I've just come across an ingenious way of saving myself tax on my earnings. Massively undercharge a client for a tax return who prepared their own books! Less revenue = less tax! ;) (Thanks to those who suggested in earlier threads to only take on clients whose books you maintain themselves. Lesson learnt!)
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Advice on new employment (PAYE) that won't pay travel & Accomodation
Hi All, Hope someone can help! I was made redundant a couple of months ago and after applying for HUNDRED's of jobs, have finally accepted an offer. That's the good news! I am Manchester based and 3-4 days a week I will either be able to work from home or have an office here in Manchester I can work from. But as the first…
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Council Tax - confused
Warning - Potential long post.. apologies in advance! I live in my parents house with my.elderly mother, just two of us. I am a higher rate tax payer (40 percent), she is a pensioner.house is in the name of mother and father who does not reside with us. Untill now our council tax bills always were sent in her name only,…
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Reclaiming Tax deducted from Pension Lump Sum
A relative has cashed in a couple of small pension pots of the last couple of tax years. This was their only income in 2016 and again in 2017. Tax was deducted at source by the pension company, so I've suggested that they could claim this back. However, the paperwork from the pension company has been misplaced during a…
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Gaps in National Insurance record
On the website where I file my tax returns, the NI section shows gaps for some years. Here is what it looks like: One thing is that this statement is incorrect for some years - my employer did make NI contributions and I have P60's to show that. For other years, it's true that I didn't make any contributions, but it's also…
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Self employed and employed at the same time
I am currently self employed - I have been for around 3 years now. I’m looking at possibly doing some part time employed work while still continuing my self employed job too. How will this affect my tax? Obviously I do a tax return myself at the end of each tax year. Would my return be affected by this potential new…
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Car Allowance, Mileage and P11d
I am getting so confused with this. Hopefully someone can help! I am PAYE. I earn £60k a year with a car allowance of £5400. Its construction based. I get paid a gross allowance of £450 a month and claim back mileage on a pick up truck of 13p a mile. 2.5 litre diesel. I also have a part time business in beekeeping for…
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Self Assessment but part time PAYE job.
Hi, My wife has recently started her own venture which is relatively small to start with however being self employed she will obviously need to complete a self assessment for HMRC. However she will also be working part time at Tesco's. Is it simple to factor that into a self assessment or do HMRC just take it in when they…
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Tax on money earned abroad and taken to the UK
Hello, I have spent a few years abroad earning money there, now I am returning to the UK. I will be of pension age and I will start to claim my pension then and I will be taking money I earned abroad to the UK. I can prove the dates when I earned it and that it was not in the UK. Would I need to declare that money in a…
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Tax on Retention Bonus
Helo, Greetings. My employer offered me a one time retention bonus (RB) with a min term clause of 1year. I accepted it and the amount was paid out after tax deduction (TD). However, I have decided to leave & I now have to return back the money in full i.e. RB. My question is - Is there a way to claim back the tax (TD) I…
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Capital Gains Tax - how does it work ?
Hi All looking for advice please on how CGT works and what we would have to pay if we sell. So we purchased a house buy to let for 120k approx. 2007 , its now worth 140k - is the mortgage taken into consideration for profit or just what we bought and sell for . Ie is our profit between us 20 k ? (140 - 120 )or the fact…
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Business tax
Does anyone know any good websites that give precise information on this subject? I am currently undertaking a degree in acupuncture and have a detached garage I barely use, I was thinking that converting this to a combined garden room, home office and treatment room may be a good solution. But I was informed this may be a…
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Business Mileage Conundrum
Hello All, I hope this is the right place to post this! I am two weeks into a new job and was just about to submit my mileage expense claim when the boss threw in a weird curveball - requesting I deduct the commuter mileage distance from my overall journey mileage claim distances for every journey regardless of origin.…
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Limited company
Hi all , I have a buy to let property ( interest only mortgage) with my wife and currently rented out . My wife has another property ( with no mortgage) joint ownership with my daughter age 12years old and the property rented out. We are both working full time . I heard we can set up a limited company to pay less tax. Is…
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Starting work late in current tax year
Hello, So I've started working late in current tax year (2018-2019), around the beginning of July and worked at a temporary work agency through which I've received weekly pay and none of it was taxed as my tax code shows the earnings are under my personal allowance. I quit the job before September and earned a total of…
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2nd Job Tax question
Hi everyone, I currently work a day job 37.5 hours per week and earn £15,800 on tax code 1185L. I have been offered a saturday evening job at a rate of £10 per hour and will be doing 6 hours per week. I was wondering what tax I would have to pay on my 2nd job, im aware of the BR tax code for 2nd jobs at 20%. I was curious…
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Self assessment/self employed question
Hi all. Hopefully a simple question about tax as a freelancer. I work in TV production and get paid on an invoice basis, I get the gross amount and do a tax return at the end of the year. At the moment I just do my self assessment based on my earnings and accept whatever HMRC says I owe in tax. But I've never graduated to…
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ebay starter tax help needed please!
Hi all I'm going to start (hopefuly) selling some things on eBay, and will have no more than £1000 profit per year. I believe under the new tax rules I am allowed this much per year before i have to pay tax, even if i work full time too. I am bit confused as to whether I need to register myself as a business, and if…
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Starting up but using my own money
Using my own money to buy stock... Can I put these receipts into the business books? I believe I can claim back as expense but the company has no money yet so it cannot give me my expenses back I little confused what the best thing to do What happens at the very start of a company being formed? Should I be putting x amount…
