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Company double declaring income
Hello, I need some advice please - not 100% sure this is the right place on the forum though... Last year the company I worked for merged with a sister company and payroll double declared my income for April - July 2018 - so it looked like I was getting a salary from both companies. I left in July 2018 to start at another…
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High income child benefit - no kids
Hi, I have received a couple of letters from HM Revenue and customs saying I’m liable for the High Income Child Benefit Charge. The first letter I ignored as I don’t have any children and thought it was just a notice. The second letter says “the follow table shows the assessment you will receive shortly which has been made…
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Tax allowance for part year
My Dad passed away in June - I am just starting to look into doing his tax return - both for 2018-19 and 2019-20. Does anyone know if he has a full tax allowance for the final year or if it is pro rata so only 1/4??
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Claiming tax bill as an expense?
I'm a self employed, sole trader. I'm shortly due to pay my tax bill and was about to pay it from my own personal account but then thought if I pay it from my business account can I then claim it as an expense for tax relief? Apols if I'm being a bit thick!
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Landlord with interest only buy to let mortgages. Calculating tax going forward
Hi everyone, I've been a landlord now for a few years. I bought property over the years until I made just enough to live on the income from the rental. I have 8 properties and I never intended to have anymore. I'm by no means rich but I make enough to get by I tend to just send my stuff to my accountant and let him work it…
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P11D Error - ex emplyer
HI There, my previous employer has put through my company pick up as a 'company car' on my 2018/9 P11D, and not a commercial vehicle. They are refusing to change this, stating they submitted the detail to HMRC and they defined the tax due. What I can do as its cost me £1.500, and I only noticed it after I left the company.
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Beerbods takeover
I posted this on another forum but was advised to post here....... I am a 76 year old who purchased £500 of shares in Beerbods who have just been bought out and my shares were automatically sold and I received a cheque for £90. The company is EIS registered? (Not sure what that means) Can I get any tax refund on my PAYE? I…
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Allowable expenses income tax - Property portfolio
My father passed away last year and I have inherited his home and small buy to let property. I am currently trying to sell his home (to clear the IHT liability) but have a question about allowable expenses. Can I offset bills on his main residence against income on his buy to let? Common sense would lead me to believe I…
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Gifts and Inheritance Tax
Let's say I was gifted £3K by a parent. They own a property with no mortgage. If they died say 5 years later, is any IHT due? Or does the gift made in Year 1 just reduce what is left of the nil rate band?
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High Income Child Benefit Charge
Hi, I have recently received a letter from the tax office regarding whether I am liable to pay a 'High Income Child Benefit Charge'. I'v had a salary increase in the last year which has taken me over the £50K threshold - to be honest I did not realise this was in place but as I understand it I need to calculate my Adjusted…
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Fuel card and reclaiming tax help!
I have been using a fuel card for the last year and have been told I can claim the tax back on my business miles, however we submitted a claim via the personal tax account online which was rejected. My employers accountant put the fuel card amount through on the P11D as expenses and says this is correct where as the tax…
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Employer messed up pay
I was on maternity leave from February 2018 - February 2019. In that time my employer underpaid me ~£1000. It has taken until now for them to agree that I was underpaid and figure out when the underpayments occurred. They've said that they will add the amount to the July payroll, but I'm concerned about the tax treatment.…
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UK Personal Tax Allowance
I have just read on the government website that Non-resident British citizens get a UK personal allowance. Seems a bit weird that you can live outside the UK yet still be entitled to the personal allowance. I wonder why this is the case?
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Dividends v salary
Can anyone recommend an online calculator which will calculate the correct tax on various combinations of dividends and salary.
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Rounding Income
When submitting a tax return do you round down untaxed savings interest in aggregate or by line item? For example if I have £9.90 from bank 1 and £9.90 from bank 2 is my total a) £19 (£19.80 rounded down) or b) £18 (£9 + £9)?
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Working in the UK Non-resident
Bit of a complicated one here in afraid. Currently living in Thailand and employed there paying social security. I'm a UK citizen. If I continued my job but came to the UK and did some consultancy work for a month or two, how would the tax work? Could I set up as self employed in the UK even though I am not ordinarily…
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Tax Code - 1244L
Hi, does anyone know why a family member of mine is using the 1244L tax code, when the normal and most used one for people would be 1250L from what i have read. They work in the NHS, but part time, and do not have any other income, as they just have the one job and that is all they do. Thankyou.
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Limited Company Director taking second job advice required.
My wife has just started a 2 day a week job in a shop but is a director of our limited company her new employer has asked for a P45 or P46 which she doesn’t have. Can I simply not reduce her salary paid by our company so she doesn’t go over the £12,500 personal allowance? What should she tell her new employer to stop being…
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Employee parking P11D
Mrs D has worked for the NHS for many years. Several years ago the hospital where she works handed over management of their car parks to a private contractor. Since that time, she has been required to pay for a staff permit which allows her to park in a staff parking area. The payment for this permit is taken from her pay…
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Tax refund question
Hi all, Quick question on a potential tax refund Was working in company A through the period of April 2018 to Dec 2018 and started with company B in May 2019 I was on tax code 1304M and my yearly salary was £28,500 and I had earnt £20,044 at the time I left Looking on Salary Calculator £20,044 would have tax of £116.73 and…