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Gift aid on mileage for sports clubs
Last year we asked to submit to our sports club a mileage total for volunteering to transport junior players to matches. We were advised that we personally would benefit from a return of 20 p in the pound & the club could claim 40p in the pound via gift aid from hmrc. We are now being told that the amount we will recieve…
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Personal Tax Code Query
My husbands tax code is currently 243L due to a company car, season ticket benefit that he is taxed on. We have today purchased said company car and the season ticket has not been renewed since May 2020 this year. Should these two items which total nearly £11,000 still be taken in consideration this year as part of his tax…
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High Mileage/ P87 Tax releif
Hi there I was looking to submit a P87, for using my own car for work purposes for the past 3 years after a few of my colleagues mentioned that I should do it. for 17/18 was no problem as I only did 4300 miles approx. However, for the years 18/19 and 19/20 I did closer to 23000 miles a year, which means I would have to…
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Working at home
On an unrelated webchat with HMRC ("is there anything else I can help you with?") I discovered that as my 'employer' (I receive a monthly 'honorarium' from a charity, on which I pay tax by deduction from my pension) does not provide me with a work space, I can claim for working from home (this is not a COVID related…
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HMRC Verify Gateway Tax Return
Over the past few years, I have used Gateway online but this system has now ended. There is a choice of Verify or HMRC. Does anyone have info on what is the best online product to use. Thank you.
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Income from other sources
Hi all, I am signed up to the online personal tax account and I noticed that I have “non coded income” which basically adds about 9 grand to my (estimated)annual pay. I have called HMRC about this repeatedly(but to no avail) as I have been on Paye for 3 years now and officially stopped being self employed at the same time…
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Self Assessment... first time...
Hello. I've received a request to fill out a Self Assessment for the 2019/20 tax year. The reason for this is (I think) because a redundancy from one job and the associated 'payment in lieu of notice' took me over £100k in annual earnings (I got another job within two weeks of my redundancy so my three months' payment in…
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Income Tax from rented out property - pay it in arrears?
Hi, I rent out a property, the profit from which I declare on my tax return - depending on the level of profit that year, sometimes I've had to pay this in two instalments over the next FY, on other occasions I've been able to add it to my PAYE code and they gather the tax out of my salaried earnings. My wife has been…
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Personal allowance reduced
HMRC informed me on my account I owe £24 tax. So reduced my personal allowance for this year. They have removed clothing allowance also I think. Seems reduced allowance by £250. Can't understand this. I was just given a rebate for last tax year. I thought they calculate this year next year then deduct or award money where…
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savings tax
i know that your bank will notify HMRC if your savings total is over the tax free threshold and HMRC will change your tax code for the next financial year to pay for this. What would happen however, if the year after your interest was within your annual allowance? Would you pay tax on it as per the previous year because of…
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Rental liabilities - property in Scotland, reside in England
Appreciate that this is quite technical and yes - needs the advice of an accountant to be sure - but...... with such a wealth of knowledge on here I figure it's worth an ask first:I own a mortgaged property in Scotland that had been my home for a few years until I relocated to England to live with my new partner two years…
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Company Car
Hello, currently my Salary is £45,000 basic + a living allowance £3000 + £4300 car allowanace bringing my salary to £52500 i also put in 4% of my basic salary into my company pension With my car allowance i go into a 40% tax bracket, if i give up my company car alloweance my total salary will be £48,200 which means i will…
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Overpay mortgage or invest in pension?
Hi all, I've recently got myself a great job and as such I would like to be more tax efficient with my income. My main aim is to try and clear my mortgage - but there might be smarter things for me to do given that interest rates are so low. My situation... Annual income of £125,000 +£6,000 car allowance (plus bonus of…
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Company vehicle
Hi. Does a double cab Nissan Navarro count as a ‘van’ for a limited company tax purposes, thanks in advance
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Reducing CGT with share losses (negligible value claim)
Hi there, Thanks for taking time to read :)I've recently sold a property, on which i must pay capital gains tax. I've read that this can be reduced by offsetting these gains against losses from shares & funds. I have a few questions i'd be grateful if anyone can advise if any of the following is incorrect:* I can offset…
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Class 2 NIC confusion!
I have been completing a SA tax return since 17-18, due to starting as self-employed in that year, but still get most of my income from PAYE employment. I am really confused as to to how I know whether I have already paid enough Class 1 NIC each year, or whether I need to pay Class 2. I have phoned HMRC a couple of times…
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Customs Charges
A parcel has been sent to me from Australia containing personal items, eg photos, documents, letters etc that belonged to my recently deceased brother, the total value of which is approx £85. The receiving importer i.e. UPS is asking for £107 customs duty. I cannot understand it as there are no new goods in the parcel and…
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How much to set aside for self-employment tax
I've been setting aside around 25% of my earnings for my tax return for the 2020–2021 tax year. The thing is, I've only been earning around £1000 per month. So am I right in thinking that, if things carry on like this, then I won't even need to pay any tax for this tax year? Due to the tax-free threshold being £12,500 I…
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adjustment to rate band
Good morning, some clarity sought...i have had a rate band adjustment which I cannot understand how it is arrived at. I have 3 sources of income (all figures rounded to nearest 000), one fulltime employment and 2 from pensions...total income is circa currently at £56000. Fulltime employ is £40000(it is due to increase…
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Take home pay query
I am looking some advice if possible. My pay has been a little all over the place for the past 6 months as a result of changing my pension contributions and altering my salary sacrifice towards childcare vouchers. I need to get the families budget in place for the start of next month but based on my pay at the end of…
