-
Declaring one off consultancy fee
Hi guys Last November I had a call with an investment company to talk about my previous company for which they paid me around 500 USD. This was paid into my PayPal account which is still associated with my Portuguese address (I moved to the UK in January 2018). This was my only source of income outside of my main job.…
-
Stamp Duty Avoidance
Hello. I am planning to purchase a new build property in Scotland (for £265,000) as my main residence. I'm currently renting in Spain, where I have been resident for a number of years. I own a flat in the UK (worth about £75,000) which I rent out, so I understand that as things stand, I’ll have top pay the higher rate of…
-
Quick Accounting Questions On Refunds
Hello! I am getting my books in order and have come across something I am uncertain of. This year I signed a contract with a client. They paid me £100 + £20 VAT (I am VAT registered). Unfortunately, the client cancelled the contract (with good reason) before the work was started, and so I refunded them £120 (plus a £10…
-
New job huge raise
Just gained a big promotion which has taken my salary from 30k to 57.5k and after reading on line it appears I will move up tax amounts and I wondered if it would be worth putting more in to my pension or something else because if I did the money I would be putting in would be tax I'm saving ? I currently put 13 % into my…
-
Challenge Council Tax
Is there a scope of challenge in following situation Property-1 and 2 are next to each other both have same area property1 has more rear garden area but 2 bedrooms. Council tax A property2 has less rear garden area but 3 bedrooms. council tax B Can the person living in property2 (for more than 1 year now) challenge council…
-
Capital gains tax
I bought a house Sept 2004 for £74,000 which I lived in until August 2018 when I bought another house with my partner. We let it out from September 2018 and the current tenants are moving the end of next month. We're thinking about selling but worried about being hit with a massive capital gains tax bill. We think the…
-
Forgot to change council tax adress!! Huge panick right now
I lived in the Royal Borough of Kensington and Chelsea from October 2018 till April 2019, then 2 months from now changed Borough and living in City of Wesminster council and been paying tax there . Today I recieve a mail from the Borough of Kensington saying I owe them 900 pounds and that I have been summoned to court !! I…
-
Giving help with rent
My wife & I no longer have a mortgage and we want to help our very low earning daughter with her rent from our un-used imcome (I have full time job, wife is retired with pensions incomes). We're proposing to send her £500 per month by standing order from our joint account (50% each). Our daughter is self employed with a…
-
Capital gains tax
Im totaly confused so here goes.... So.....we bought a 2nd home and moved in it, We rented out the 1st home that was the main residence for 14 years. The tenant stayed for 9 month and bought his own house. Will we get stung with capital gains tax?, we will be lucky if we have profited £2k on the mortgage alone after all…
-
Huge HMRC fines out of the blue
Today my partner received three letters from HMRC informing him that he owes in excess of £3k in fines for unsubmitted tax returns for 2015 -2016, 2016-2017 and 2017-2018. The thing is that he stopped being self-employed in June 2015 and has been paid by PAYE by his employer ever since. He's certain that he informed. HMRC…
-
Online Tax Account
Has anyone had problems with their online tax account details? My husband is PAYE and hasn’t been self assessment since 2011, he registered for an online account a year ago so we could check it. A month ago he went on to check the PAYE and it had been changed to self assessment and the PAYE had disappeared completely it…
-
Inputting capital allowances
With the new look HMRC self assessment for 2018/2019, I cannot find where I input my capital allowance. Can anybody help please?
-
CGT on Sale of Gifted Property
My Mother-in-Law has transferred the ownership of her only home as a Gift to my Wife and Brother-in-Law. She has lived there since they purchased in the late 1950's. Her husband passed away in 2007. She will continue to live there for as long as she wishes, rent free. The property is currently value at £250,000. When my…
-
Data held by HMRC when adjusting personal allowance to incorporate savings interest.
I'm a standard rate tax payer using marriage allowance. My tax code is 1243M. I know this has been generated using an estimate of how much savings interest I had earned but am not sure how to work out what that estimate is. Also presumably, HMRC will have a list of banks/building societies and how much interest they have…
-
Second Job and tax
I am mainly supported by my partner but working 2 days a week or around 14-15 hours (looking after little children, even your own, can be quite depressing so I decided to go back to work part time) I am offered a job just 1 day a week witch I will really enjoy doing but it makes it a bit pointless if I have to pay 20%tax…
-
Barclays closed my account with money in my ISA.
Hi, Barclays closed my account with money in my ISA. I put a complaint. They asked me from where money is coming, so I showed them a letter from my accountant, - I am self employed- ,and the last tax return from the last 3 years. I need to wait for the answer to my complaint between 15 days and 8 weeks. I don't think they…
-
HMRC Onlibe Acc
Hi, In the past I have had someone who is a bit more savey help me with my Tax etc, and although I fully trust what they are telling me I simply cannot see the information they say is online. This year I have been told that I am getting a repayment of £457 and I have been told Payment pending. But where will t say this, I…
-
Help needed re tax and property management.
I live in a small block of flats where we have set up a management company, registered with Companies House (no idea why that happened or what benefits there are!). We each pay a nominal amount of maintenance, based on the size of each flat, for small regular expenses. Any large expenditure is dealt with through…
-
Council tax
After moving in to a new house where half the street is new build houses I’ve now got my council tax valuation through. I’ve compared the whole street using Nationwides house price calculator (to estimate the house price in 1991) and it turns out most of the street is banded one band higher than they should be (solely…
-
pay HMRC by direct debit
I paid HMRC self assessment by direct debit . DD went out of my bank yesterday .HMRC is showing DD was set up,but its not showing on HMRC as being paid. How long does this take to show up
