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is this right?
My partner works for a large company in South Wales. A number of his work colleagues are using an accountancy firm to reclaim tax back dated 4 years. They have to apply for something called a UTR and some have claimed as much as £10,000. But they are claiming for such things as the cost of travelling to and from work. I…
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Company car tax - effect on bonus?
Hi, I'm a bit lost with my company car tax and was hoping someone would be able to give me some advice on how bonus payments are effected by it? Basically I changed jobs in the last year, the salary now puts me just over the 41% tax threshold in Scotland. I have a company car and the BIK is £10k. I've just been paid my…
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Tax refund cheque not arrived
Hey, on 25 September 2019 I received a letter in my mail that stated that I had paid too much tax and that they would send me a cheque for the amount within 14 days of that date. Now it is 30 December 2019 and that cheque has not arrived. I do not know how to proceed, any help would be much appreciated, thank you!!
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Council Tax: Liability Order After Paying All Liabilities?
Hi all, Got married, moved in to a new house and then went on honeymoon around the world. Missed a few council tax payments and came home to a summons. That wasn't a problem. I got in contact with the council and paid the outstanding tax year off. No special arrangements or anything. Today, payment cleared and I got in…
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Are ALL costs associated with a remortgage considered as "Finance costs"?
I recently remortgaged a rental property and incurred the following costs associated with the same. Please could someone tell me if both these costs fall under the 'Finance costs' umbrella or does the legal fees count as a tax deductible expense? Mortgage fee £1,999 paid upfront - pretty sure this is a Finance cost? Fees…
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Just switching to self employed - queries on timings and Payments on Account
Hello, Any pointers much appreciated: 1. I have been made redundant and on 1st February 2020 I start as self-employed. Gross pay is projected at £3,500 monthly. I estimate my monthly profit at approximately £2,940 (after deductible business expenses and allowances). The HMRC online calculator works out at approximately…
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Company Car
Hello, I'm starting a new job in January and I will be given a company car as part of my benefit package. As this is my first company car I did a good research on the BIK and associated tax implications so picked a hybrid car which would be much cheaper for me compared to other petrol or diesel engines. I will have a…
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Self assessment help!
Hi, I am looking ahead to doing my self assessment tax return for 19/20. I used to be a contractor through a limited company. I am now permanent , so this tax year I will have a combination of salary from a permanent job, salary from my limited company, and dividends from my limited company. My accountant normally does my…
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Self assessment & tax paid via paye
I submitted self assessment due to child benefit high income charge. I had a underpayment which was recovered via paye in 18-19 tax year which is showing as tax due in addition to benefit charge in the tax calculation. If i go back to the section re underpayment the figure is correct and it says only click no if incorrect…
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Repayment pending 2019
Hi all Just wanted to see if anyone else has been paid for self assessment return mine has just been sat in pending for week last year only took 5 days to issue Thanks
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Non Coded Income and Self Assessment
I have been completing self-assessment for a number of years. I have been paying the payment on account when a larger payment has been due because of fluctuations in profit and income. Since 2018/19 tax year, when I log into HMRC website, under the PAYE section I see an entry for Non Coded Income with a figure that is…
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Hmrc tax refund help
Hi Guys!! Basically, Doing a tax return scared me so i asked my friend if she could help as she has experience. When she put my banking details in she presumed they'd be the same as she held for me on her online banking, but i closed that account. it was too late to do anything when she told me. so i amended my tax return…
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Self Employed Business Mileage
Hi all. I’m looking for a little advice, I have looked online but can’t seem to find a definite answer to my question. I have recently became self employed after purchasing a small local window cleaning round. All work and admin etc will all be carried out by myself. I have most things in order now but I am a little…
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Self assessment - allowable expenses due to sale?
Hi Just getting around to the lovely end of year job of self assessment for me and my partner. During 2018-2019 she sold a BTL property that was just in her name. It was sold at a loss of around 10K so no CGT will be due. About a year before the sale we had spoken to the tenants who were happy and planning on staying long…
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BR Tax Code Help
Just found out been on BR since July so not saved enough for next year. Can anyone help estimate how much a month one should save on this code, earning 97.5 plus £3500 in medical benefit, no other PAYE type income or benefit, no cars etc. Other SE income , CB tax, interest, capital gains, gift aid in SA etc but just want…
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Haven't registered as self-employed for 4 years!!
So I made a massive mistake..:embarasse I have been an online seller for just over 3 years now (over 4 tax years I think). I didn't know that you had to register as self-employed and do the self-assessment tax return every year. I sell on Etsy and I believed that Etsy would take the tax themselves every time they would…
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Inheritance tax related - repayment of loan to execute will
Apologies if this is off topic for this board, but I'm not quite sure where else it would fit in. My wife and I are the executors of my father's will. We (and our children) are also the sole beneficiaries of the will. If my father were to loan us a sum of capital from his investments, would we have to physically repay that…
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Tax exspenses
Good evening 😁 I use a car for my self employed bussiness and my question is as i now need a new car as mine is broken will i be able to claim the cost of a new car as a exspense? Im currently using the cash basis system, any help greatly received 👍
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Online tax return - how?!
I've been self-employed (as a sole trader) for almost 20 years but have up to now always had an accountant deal with all aspects of tax for me. Now, due to financial hardship, I need to stop using my accountant's services and complete my own tax return (online) for the first time. I have copies of previous tax returns and…
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Marriage Allowance Transfer Scam
I have been receiving the Marriage Allowance Transfer benefit for the past 2 years. In this morning's post, I received a letter that looked similar to an HMRC letter headed "Marriage Tax Allowance Rebate". It told me that I was yet to return my Marriage Allowance Application Pack, and had a simple form to complete. My self…
