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Company car benefit charge
Hi guys just trying to understand the best way to do this. I'm aiming to put as much into pension as poss to bring down tax to below 40%, but unsure as to how the company car benefit charge affects it. Example figures (for 2019/20) Pay 60k Company car benefit 6k So do I need to pay 10k into pension to get under the 50k…
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Exceeding 20% tax threshold before the end of the year
Hey, I'd like to get some advice regarding the tax brackets. Currently I'm in 20% but I'm expected later in the year to exceed the 40% limit due to overtime / bonuses. Will the amount of tax I pay get taken this year or will I get a bill next year? Also, since my salary doesn't take me into the 40% bracket, will my tax…
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Britain/Ireland Double Taxation
Hello I am currently employed full time in England but am trying to set myself up as self employed in the Republic of Ireland to generate some extra money. I can not be self employed in England as it would be considered a conflict of interest by my employer. I am tax resident in the UK. I presume my tax code in England…
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Own flat but stay/care for mother in her house.
Thankyou in advance for any help. My brother-in-law owns his own flat but lives with his mother. His father passed last year. Is there a guide on the best way of handling the council tax due on both residences. My understanding is that he gets 25% discount on his flats bill. He never sleeps there, just pops in from time to…
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Do i need file a tax return for tax year 2016/17?
In early July 2016 I moved to the UK after being abroad for 10 years. Between my arrival and the end of that tax year, I was renting out a room to a lodger. The rent per month was 250 for a total of 3k. I had no other income, I wasn't living like a king :p Never had to file a tax return in the UK, for any reason. And from…
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Capital Gains Question
Hi I was wondering if you could tell me if CGT tax should of been paid in these circumstances Property purchased in Jan 83 (husband & wife) purchase price was £18000. (Property A) In 1985 the lease was purchased for £2025.40 A second property was purchased in 2001 solely in wifes name. Neither moved into Property B until…
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IHT Options for a £1,000,000+ estate
MY FIL recently asked us to help him with inheritance planning as he does not use the internet and I assume values our opinions. I subsequently read the article on how to avoid IHT and some associated posts, my husband and I were pleased to inform him that he need not worry as any estate worth under a million pounds by…
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House of Lords committee call for MTD delay
Good news maybe on the way for small businesses in that HMRC have been roundly condemned for their plans to start the compulsory making tax digital initiative next April. The HOL economic affairs committee have called for a delay of at least a year for VAT submissions and further delays for it being rolled out to other…
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Stamp Duty Query
Hello, I have read all the stamp duty FAQ’s etc , but still unsure whether stamp duty would be paid in my situation, and so looking for some assistance. Current situation:- - Joint mortgage on a house and a flat with ex-partner (not married). - flat purchased in sept 2008 and rented out since nov 2012, when we bought the…
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Self employed - can I claim a computer rental as expense
Hi all, I've just started working freelance and need to get a computer. Was planning to buy a computer but am now looking at HardSoft, a company that rents out company computers. Would I be able to claim this against my earnings like I would if I bought a computer, or not? I can't find any information about it online! Any…
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Splitting Up, Dividing Property, CGT?
I have split from my long term partner, we have a 20+ year old son together AND properties. Joint home together. Two buy to lets. Property 1: value £90k, mge £47k, rental income 500pcm, mortgage £98pcm, joint names. Property 2: Only in ex's name but essentially owned by both of us as I paid the deposit at the time but I…
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CGT on sale of 2nd property
Evening everyone I’d love to hear from anyone who has ever found themselves in a similar situation to us please! Me and hubby bought a holiday home in Cornwall 3 years ago. It was a bit of a wreck and we spent a good £25k doing the place up (damp proofing, upvc windows//doors/fascias, carpets throughout, garden…
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Council Tax on Family Home & My Other Flat - Main Residence
Hi All, Great forums here, I've been meaning to join for a while! I was wondering if you could give me your thoughts on paying Council Tax back at my family home which my dad and I live in or keep it on my flat where I live some of the time as well. The main reason I am considering this is because my father is ill and I am…
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Royalty question
Hello, Following the death of my mother I am recieving royalties from my father's books, which I have to declare for tax. My question is is this money pensionable? Thanks for looking!
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Uniform tax rebate, now owe HMRC
Hi, wonder if anyone can shed any light for me. I recently applied for a uniform tax rebate, for which I claimed £60 a year for 5 years. I received a cheque from HMRC for £232.84. Fast forward a few months to today and I’ve been posted a a tax calculation and I now owe £191.80. I’m PAYE and only claimed the tax back as per…
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Reclaim tax after receiving PPI payout...
Hi Everyone, After watching Martin Lewis's show last night about reclaiming tax after receiving a PPI claim got me thinking. My history goes like this, in the 90's I was heavily into having bank loans, 13 actually. Finally learnt my lesson on looking after my finances, Anyway these loans where with one bank that I'm…
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Travel claim on self assessment
I am wondering if I can claim for travelling to the US on business even if I spent some time over there not on business. I hear different opinions on this. Thank you in advance for any help
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Buy-to-let repairs – tax deductable if I do it myself?
I own two flats that I rent out separate to my day job. Sometimes I get decorators/repairmen to do the necessary upkeep work on the flats, but then sometimes I get stuck in and repair a leaky tap or cut back the overgrown garden for instance. I just wanted to know if I can claim this work done personally as a maintence…
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Welsh rates of income tax, when/how to find out new rates?
Hi, As the Welsh government and .gov sites don't seem to say much, I wondered if anyone knows when and how these new rates will be published, and when the formal budget statement is due? Many thanks.
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Tax calculation for gift aid
Not sure if this is the right place but hopefully someone can help. My mum has received a gift aid declaration form from her church and has been concerned that she doesn't pay enough tax for this and other charities she subscribes to. Thanks to others on the pensions board I have sorted out how much tax she pays which is…
