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Cutting tax
Archives for October 2019
Discussion List
When is online self assessment due?
For someone who started earning in May 2019. When should they submit their FIRST online self assessment?
Inheritance Tax Confusion
My Grandfather recently passed away and and his estate is currently going through probate. In his will he left everything to my mum and her sister, the problem is for some reason, they have decided to use some guy they found on facebook to sort it out. Anyway, this guy sent them the following message, which we feel is a…
NIC if a low earning
Hello If on a self employed basis someone earns less than the NIC threshold are they still credited with it??
Self Employed NIC
Hi My wife is about to go self employed. We have a 4 year old daughter. Will she need to pay NIC contributions as I believe they are credited automatically to her at the moment until our daughter is 12.
Employed and self employed at same time
If someone is employed full time and is a HR taxpayer, and they also do a little self employed work on the side, can they still use the £1k trading allowance? So if £60k is earned through employment and taxes collected via PAYE, if they earned £1k on the side as a sole trader is that tax free or added to the £60k to give a…
New Limited Comany - Contractor
Just trying to work out how much money need to hold back for tax and NI. My partner has worked Apr-Oct and has already passed the threshold where he needs to pay tax for this year. He has now got a years work through an agency making signs for a company and they advised him to go limited. He is invoicing company approx.…
What to include in income? increase pension conts to avoid paying 40% tax and HICBC
I am a higher rate tax payer. My wife gets child benefit for two kids and I have to pay back part of the child benefit as High Income Child Benefit Charge. I am trying to increase my pensions contributions so I don't have to pay 40% tax and HICBC. My understanding is that if I reduce my income(s) to £50,000 than I will…
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