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Help how to claim proportion of utilities, council tax & rent as an expense on tax return
Hi all, I am a little confused on rules on this. We have one room in our home that is used predominately as an office (this is not used as a bedroom), my other half is a sole trader and his work is conducted away from the house but obviously has a certain amount of admin, phone calls etc that is conducted each evening from…
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SELF ASSESSMENT 2022
Just completed my self assessment, different from last year as I now have to log back in in 72 hours to confirm identity? Anyone explain this, thanks.
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New NI for self-employed
I know that as of now the rate rises by 1.25% and also that in July the threshold rises by 3000 pounds. But how will that work in practice for someone who is self-employed and simply declares yearly earnings for 22/23 next year? I like to make sure that I put away a suitable amount every month for tax and NI (adjusting as…
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Shared Account CGT on death of one spouse
Say a general shared account had £200k, £100k being capital gains and £100k in equity, and one half died, so the entire holding transfers to survivor I understand if the whole lot was old, the deceased's CGT is wiped (becomes IHT liable, which is not payable inter-spouse) So in that case the survivor only has their own…
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CGT and enhancement expenditure
Hello We recently bought a second property which requires very substantial works- our plan is to do these works over the next couple of years then sell our current house and live in the new one. I'm keeping copies of all invoices as I understand that we might have a CGT liability if we ever sell the new house, relating to…
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Taking a dividend .
What's the best way for a pensioner (only on a state pension) to take an inherited dividend off £1000 per month ?.
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Car finance self assesment
I am recently purchased a vehicle to use for work on PCP finance, I pay £95 per month. Can i put a proportion of this figure through my self assesment. I am a sole trader.
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1.25% National Insurance Increase 2022
My employer has taken the 1.25% National Insurance increase off my March pay, paid to me tomorrow on the 5th April, one day before this increase is supposed to come into effect. The reason given is our financial year is different, so March is our period 1 but my daughter works for a company who are the same with their…
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Tax return - adding previous years expences
Hi All, As per the title, on my tax return how do I add previous years expenses that i missed off the previous tax returns. Is there a specific section for previous years or does this need to be added when setting up the form initially? In particular I need to claim the working from home allowance for the last 2 years and…
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Personal tax code query
I recently changed jobs and got paid twice in March. I received a coding notice changing my 22-23 code to 850L from 125L yo account for owing £813. Looking at my pay slips that makes sense. However plugging in the new codes into a salary calculator my take home pay differs £135 a month. Why wouldn’t the take home pay…
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I'm Being Stalled by the VAO
I recently applied to the Council Tax Band Valuation Appeal Office (VAO) as my house, a semi detached in a cul-de-sac, is in Band is E, where as the other 3 houses, all semi detached and heavily extended, compared to mine, are in Band D. I am on a pension and the difference per annum is £400. Add to that the recent…
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Tax Relief - Working from home
Hi, I work from home full time. Do I need to claim the tax relief every year? The last time I submitted a claim for it was 2020 and was given a new tax code. But do I need to claim it again each tax year? Thank you
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State Pension Tax
Hello, my last state pension payment was on 21st March 2022. In all I've had 6 payments this tax year. 1 fractional, and 5x full amount. My next SP payment straddles the tax year. Will I be taxed in THIS tax year for the next payment/ or part of, even though it's not in my bank account yet? tia sx
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Tax code after recent job change
I have just changed jobs and I am totally confused about the tax code. Hope someone can help me understand. I started my new employment on the 7th March, and left my previous employment couple days before that. I have only just received P45 from my previous employer, as they pay salaries monthly. My new employer received…
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Save £700+ in tax by chucking taxable-benefit-money into pension on Monday before end of FY?
So I found that I got paid two years worth of a particular taxable benefit in one financial year. It creates a problem which I might be able to resolve by making a lump sum payment into my pension by this Monday (eek!) before the end of financial year. This benefit (Carer's Allowance for looking after my disabled kid) is…
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CGT
If you have total taxable income (including capital gains) below the personal allowance (but the capital gains are above the annual exempt amount), do you pay capital gains tax? I.e. are you still classed as a basic rate taxpayer for paying CGT even if you are a non-taxpayer?
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EV company car - tax code change
Apologies if this has been asked before - I can’t find a thread that answers it though. I got a new company car in December, a change from diesel to EV. I could have taken a cash allowance as an alternative. I know there was a change to the tax treatment on company cars a few years to ensure that if there is a cash…
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IHT - RNRB Query?
Recent poor health has meant my elderly mother has had to go into care home and she is asking my brother & I what she should to do with her house. She was widowed approx 20yrs ago and her current assets mean her estate will be be slighly over the IHT threshold when taking into account her NRB plus our late fathers NRB and…
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accommodation expenses for business trip
Hi Im self employed and need to spend a couple of days in London for some meetings. Thankfully I have an old friend I can stay with for the 3 nights Im up there. What can I claim for…
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Tax Help/abit information
Hi all been awhile , not sure I asked this question couldn’t find it on my threads So With change of role and pay. And new tax year starting soon. I been thinking if my tax is wrong or if am being blagged ( which I doubt they would do hopefully) So I been on this tax code few months 754L and was notified I was under paying…
