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Gift Aid Records
How long do I need to retain Gift Aid records after submitting my tax return each year? I make regular donations to about 12 charities and ad hoc donations to a further 20 or so. Payments are via direct debit, credit card or cash so the record keeping is tedious!
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Paye Sub contractor
the company i work for is offering the option of our normal day rate (plus they provide hotel, pay govt 45p/25p mileage and food allowances), or the option of what looks like a significant day rate increase (but we would be liable for all expenses)this is on a paye basis not self employed, so would i be able to claim any…
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EIS relief carry back
Hi all, I have some EIS I want to carry back to the prior tax year (20/21) which I made in 21/22. I understand I can only paper file this and not add to my 21/22 return to carry back. With all the delays, anyone have any ideas how long this will take?
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Land Transfer Tax in Wales
I wonder if anyone could advise please. My father in law has left his house to be split four ways between my husband, son, daughter and sister in law. The house is in Wales. Two of the beneficiaries want to sell their share. Our daughter and my husband would like to keep the house. If my husband buys our son’s share and…
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Register as self employed, director
Ok, so I have started doing some freelance work which is going to become a large portion of my income. I am invoicing 1 company about 1k per month and then another about £100. So I believe I now need to regsiter myself as self employed. When I go to the HMRC website to do this it basically wants to send me a goverment…
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HMRC adjusting code based on wrong interest amount
DH gets NHS pension and interest from our savings account - the interest was higher a few years back before they reduced the rates (and we spent some money) - now they keep sending a code as though he is still getting the same interest each year. He completes a self-assessment (on paper) - they adjust the code to allow for…
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P11d - who is responsible
Good afternoon, My tax adviser did not submit the P11d and now I have to pay the tax amount outstanding. Who generally is responsible for submitting the P11d to HMRC? The employer, the tax advisor or the tax payer, i.e. me? Annoyed the tax adviser missed that one and will definitely change them. Thanks
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Trust funds and limited business
I'm the trustee of a Discretionary Trust Fund set up in my wife's name. The money was awarded from the courts for abuse. I am my wife's carer and we live on state benefits. Can the Trust set up a Ltd company for the purpose of increasing her fund value? There are regulations with regards to benefits and Directors but I…
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NI and weekly earnings - second job
Hi as in the title - I currently have the following arrangement - 1st job £25k pa gross 2nd job approx £1000 per week gross The second job is via an agency and umbrella company. I’m paying NI and tax on both (as expected). My query is that whether it is advantageous for NI to claim for 2 weeks at a time on the 2nd job when…
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Marriage Tax allowance - and charitable donations
My wife has transferred 10% of her personal allowance to me. To take advantage, I know that I have to keep my income, dividends, interest etc below £50,270 (I'm in England). [ps. Thanks for advice previously Dazed_and_Confused] My question relates to charitable giving. Am I right in thinking that I can subtract charitable…
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Am I paying too much income tax?
Hi there, Hope you're all save and sane - crazy times! I'm wondering if I am - since 2 successive pay rises w/i 2 months (I know :) ) - I'm now paying too much income tax. Note, I live in Scotland. In my understanding, I pay the same rate of income tax in Scotland when I earn between £25,297 to £43,662 within that tax…
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Bonus - Which Tax Year?
Hello all, I'm hoping for some advice and will try and keep it short and straight to the point. Current salary - £107k although I salary sacrifice enough into my pension over and above my regular pension contributions to take me below the £100k mark 2020 bonus paid in month 1 of 2021 was £10k. Total predicted taxable…
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HMRC say self assessment form not received
I hope I am posting in the right place. My husband and I have a partnership. He is the main partner and has to use commercial software to file the SA800 partnership form. The software also allows him to submit his personal SA100 at the same time. After the usual issues this year with "errors" that cause submission to fail,…
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Marriage Allowance
My husband is claiming ESA and is in the support group. He has not got a current P60. Can we use an older one for me to claim the allowance? I am unable to do it online because he doesn't have the required ID. I thought I would seek out some advice here before spending all day on the phone trying to get hold of HMRC.…
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Help on child benefit tax
Hi, this year my income with employment, self employment and property income will be £52400, of which £3500 is mortgage interest but is added on taking me over the £50K mark. I believe that if I put £2500 into a private pension will that take my adjusted income below the £50K threshold so won’t have to pay child benefit…
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HMRC delay, delay, delay...
On 5/10/21 my wife wrote to HMRC claiming higher rate tax relief for SIPP contributions. Gateway shows (and still shows) as estimated completion date of 29/10/21. This morning she phoned to chase this up. She was told the new completion date is 28/8/22. She asked how this could be questioned. The operator said it could not…
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tax threshold
Thought I knew that the threshold for increasing your tax rate from 20% to 40% was £37K odd. Anyway wanted to check the exact figure so went to the gov website which says it's £50,270! So can earn up to £50K odd and pay 20% tax right?Then found another website where it says £37,700 "after allowances have been deducted." OK…
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Tax on back pay
I work for the NHS and currently have an appeal in for my banding, if successful they will owe me back pay for 4 years at the higher banding (approx 8k a year more before deductions). If this is paid in one sum it will put me into the high tax rate for the year, however if I’d been paid this when due I wouldn’t. Is there a…
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Capital Gains Tax
Hello Cutting Tax Forum I’m clueless
and wary of relying on google. Garbage in, garbage out! Hoping someone can help
with guesstimate re CGT due before I engage accountant (if necessary) to complete
tax return when property is sold. Bought flat
(in Scotland) in November 1989. Lived there for 7 months. Let flat (via agent)…
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Delaring a taxable loss within an ISA to hmrc to reduce CGT liability
I have a general question about my ISA account As this account is an ISA, this means profits are NOT liable for tax, But If I sell an asset in this account or a loss - for example on 10th April 2022 (ie just within the new 2022-2023 tax year),I sell some shares within this account for a LOSS. Question 1 ) I understand that…
