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Van benefit backdated
I need help please. My son's firm gave him a van on 14th September, it was brand new registered on 1st September. But the tax office are saying that he has to pay van benefit dating right back to last April as that is when the tax year began. But this van didn't even exist in April! So they want over £500 from him when he…
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Do I still have to pay national insurance and tax?
Hello guys, So I have just gotten a new job for around 40k a year. I’ve been out of work for just over a year so when I start my wages would be the first bit of money I have earned all year. I understand that people who earn under £11,000 do not have to pay tax until they earn over that amount. My question is once I start…
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Can I opt-in to pay VAT and reclaim VAT on a commercial property purchase?
I am due to complete a commercial property purchase on the 4th of January - I will have to pay a 20% VAT amount on the final purchase price. This comes to £8000. I am not registered self-employed or a sole trader. Is it possible for me to register now, opt-in to pay VAT before the 4th of january then reclaim the VAT once I…
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Unknown Income: HMRC timescales?
Apologies if this is the wrong board - please move if so. I couldn't see where else it would be better placed. Back in June I got an email to say my tax code had been updated so I logged into my HMRC account to see why. A significant amount of unknown income, for a firm I have no affiliation with had been added to my tax…
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Is Isle of Man considered offshore?
I am a non-domicile resident and exempt from tax on foreign income as long as I do not bring them to the UK. If I receive the money into a bank account in the Isle of Man, is it considered receiving at an offshore account or have I brought it to the UK and taxable? I am a little bit confused as the Isle of Man is part of…
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Foreign income for non-domicile residents
I am a non-domicile resident and exempt from tax on foreign income as long as I do not bring them to the UK. Is receiving my income to PayPal considered bringing the money to the UK? If I receive the money into my PayPal (linked to a UK band) but do not withdraw it, is it still considered bringing the money to the UK?
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Is a gift won in a company raffle taxable?
Hopefully someone can help me on this as I have Googled extensively and gone through the HMRC website and I can't find a clear answer. We have a company Christmas raffle coming up whereby the prizes have all been donated by external sources which are not directly linked to the organisation (they're not suppliers, they are…
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Adsense revenue
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SDLT - foreign property valued below £40k
Hi, I'd be grateful for any advice on our situation: We recently moved back to the UK from Spain, and are starting again on the housing ladder. We're blessed to have received an inheritance that may just give us enough of a deposit to get a mortgage and buy something. We own a tumbledown property in Spain, in a difficult…
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Stamp duty question - 2 homes, unusual scenario!
Good day, I am potentially finding myself in a slightly unusual position and would be grateful l if someone could give some advice. Me and hubby own our home with equal share (Home A) but hubby is in the process of purchasing a 2nd property with his own funds (Home B) that he bought at an auction. His intention behind this…
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Private surgery costs tax deductible?
I recently had to pay for back surgery. The NHS were going to take 12 to 18 months to see a consultant followed by a further 3 year wait on surgery. I was in so much pain, I could not work and it was deteriorating. I would eventually lose my job. My surgery was recommended and performed by the same NHS surgeon and cost…
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VAT questions on Commercial Buy-To-Let
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Letting a property for part of the tax year
Do expenses in relation to a let property need to be apportioned depending on how long in a tax year that property has been let out? E.g. if you spent £200 upfront on Landlord's insurance for 12 months but only let the property out for 7 months of the tax year, does that expense need to be apportioned in any way or can the…
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Trying to get some tax advice
Hello there, I'm attempting to spend less money on my accountancy bill, but still think I need a bit of tactical advice. I've been phoning around accountants in my area with no luck so far. I'm wondering if anyone here could point me in the direction of some paid advice, or perhaps explain things directly. I'll outline my…
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HMRC and Interest
I wondered if anyone could help me with the following. A few years ago I was undergoing chemo for bowel cancer and didn’t realise that I had been caught by the high income child benefit charge as my salary crossed the threshold. I was keen to put this right as quickly as so filled in the relevant forms in August and duly…
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Pension Contributions & Self Assessment
Dear MSE Community, Would anyone be kind enough to help me with the following: I made: 12 regular pension contributions totaling £3110 on which I received a further 25% tax relief (£777.5). 1 single contribution of £10,000 on which 25% tax relief was applied (£2500) Total: £13,110 in member contributions plus £3277.5 in…
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Capital Gain Tax on sold garage
I'm hoping someone can shed light onto whether or not we need to pay capital gains tax. I own one of 4 flats and am a director of the management company as are all the flat owners. We have sold the freehold of the garage and land and our solicitor has now asked whether we need to pay CGT. We currently live in the flat…
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Self Assessment - Income tax & Student Loan Repayments
Hello, I'm in the process of filling in my 17-18 SA tax return. However there is a strange thing happening in the calculation in regards to student loan repayments which I don't understand. I'm trying to contact HMRC about it, but on the off chance was curious if anyone here might be able to shed some light on it. The…
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Speed of registration as self-employed for once-a-year job?
Not sure this is the right place, but here goes: For the last 9 years I have done an annual translation job for an acquaintance, once a year. They have paid me for the service, amounts ranging from £200 to £500, depending on the size of the job. Year to year, I have not known whether I would be asked do another job, so…
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BIK Tax Question
Hi I wonder if anyone can help clarify something. For the past 3 years I’ve had a salary sacrifice car through work which was subject to BIK Tax. I got the car in November 15 and it went back 1st November 18. My tax code was adjusted according to the tax years I had the car and in April 18 it was set to 784L. My…
