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Understanding tax codes
I wonder if someone could help me. My husband used to be paid with the following tax code: 647L. He has now been switched to 569L which means about £13 less a month. :confused: I understand the previous code is a code for new employees. But he was not a new employee. He has been with his company for over 10 years!! Can…
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Possible overpaid tax rebate - Do I repay?
I have been paid or all of 08/09, got my P60, all done and dusted. My contract finished end of March 09, but the last bit of pay for work done did not arrive until Month 02 of TY 09/10, but you are taxed according to when you are paid right, not necessarily when you did the actual work? Any way in 09/10 I had several…
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Class 4 NIC calculation
My husband was made redundant in September 2007 and has been self-employed ever since. Because he had overpaid tax through PAYE his Self-assesment tax bill for 2007-08 was very small. I am in the process of doing his 2008-09 return online, and as this is his first full year of SE I have a question about the Class 4 NIC…
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Offsetting Loss against taxed pension?
I am considering setting myself up as self employed. I am sure to make a loss in the first year or two after taking into account all capital outlays and expenses. I am in receipt of a company pension which is taxed at the basic rate after my personal allowance. I have heard that you can carry losses into following years…
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Pre-budget report NI changes query
Hi all, I'd like to think I've found something positive in the pre-budget report but was wondering if someone could tell me if I've understood it correctly. It says that there'll be a 0.5% increase but people on less than £20k won't pay NI? I am a weekly paid contractor and I think my earnings total less than £20k and…
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Tax Rebate?
Hello, Sorry for the possibly silly question but I think I may be due a tax refund and wondered if anyone would be able to let me know! Basically this year my PAYE employment this tax year has been: 2 small jobs @ £200 each in July - Tax code BR 3 months (Aug, Sept, Oct) @ £18k pa - one month taxed at BR and 2 on 647LX Now…
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Pre Budget: Tax rises for millions
This is the discussion thread for the following MSE News Story: "Plans have been announced for increased National Insurance contributions and higher taxes for larger earners ..." Read the full story: Pre Budget: Tax rises for millions
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Self Employed to Employed Tax Advice
Hi All, I started a job in June, took very long for them to actually start doing my tax for them, enfact was only sorted out in October so my 4 wages June - Sep i have not been taxed on, i assumed they would tell the tax office my earnings between that period but they haven't so was wondering what i need to do to get…
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Not sure what to pay and time is running out.?
:confused: hi, im a stupid newbie to paying tax/ filling tax returns etc. ive only been self employed the last 2 years and only really found out about what i have to do recently. my problem is that i did some work for cash in 2007/08 and also this year and i want to declare it. however i have not made any records of what i…
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Import duty / tax
I have been selling items on ebay for a few years now and have now come up with a problem (a good problem to have). I sell in a market where i have very little competition and i now have a couple of customers who purchase regularly off me. the product retails for £300+ in the uk ). at the moment I am importing the product…
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Income tax/benefits...help!
Hi all, I am a reasonably new person to these fine shores and i have just been offered a new job. Now my problems lie in that I dont really know what the tax and benefits levels are here in the UK. I do know that the basic tax and higher rate are 20%/40% respectively, and the cut off point is £37 400, it is just that my…
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How much to charge for tax return?
Hi all, Im currently studying towards my ACCA qualification, i have have been approached by a friend of a friend to complete there tax return. There shouldn't be much involved as they are a sole trader, im not sure how much to charge? any advice? Thanks
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Council Tax Deductions - confused about bill!
Hi there. I'll try to keep this as short as possible! We moved into our house at the beginning of August. I live with two others (one fulltime Student, one unemployed but unable to claim benefits). I work fulltime. All of us finished our degrees whilst living in this house. I finished on the 31st of October, they both…
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expenditure claim
I work full time in NHS.In my off time I do extra work for the hospital like covering for someone offsick,extra list,waiting list initative.Am I entiteled to claim expenditure for the extra off time work? Any help would be appreciated.
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Private Hire Taxi Tax
Hi there This may be in the wrong section but i'm sure it can be moved, I've just left the army after numerous years and am starting to drive private hire taxi's in Edinburgh. I've sent away the paperwork to HMRC but was wondering if there are any websites you can recommend that i can use to work out my tax weekly/monthly.…
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Council Tax: Can libility be split between the owener/tennants
Hi, - This ain't my issue but a friend of mine.. Her marriage unfortunately isn't working as best as it should and finances between the pair are completely separate. At the moment, she pays 100% of the council tax bill each month and she'd like to pay only half of it (since her husband's not contributing in anyway). At the…
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Tax on pension and rental income
I'm hoping that somebody can give me some advice. After the death of my father in 2003, my mother sold her bungalow and bought a small flat in a 'managed' complex. Sadly, her health began to deteriorate, and in Jan. 2005 she was diagnosed with dementia, and moved into a care home. Since there was a large amount of savings,…
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How do I get HMRC to accept I'm on a low wage and live/work abroad?
Having had a search of the threads, I can't see one which mirrors my situation, so I'm hoping someone can give some advice. Sorry for the length! I was a higher rate tax payer, paying tax through PAYE, until January 2009 when I had a fit of idealism and resigned to go and work for a charity abroad. I filled in the P85 to…
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Company Car/Cash and Fuel Card
Hello all, I have been trying to work out if I would be better off in the long run opting out of my company car and fuel card but keep getting a little stuck and or confused. I have worked out so far that by opting out I would have an increased net take home pay of £435 a month including my car allowance based on:…
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Council Tax Benefit
Hi all, just wondering if anybody can help me. As we are really struggling to make ends meet at the moment I have been through everything cutting costs as far as I can and the only thing left is council tax. Every 'can you claim' thing I fill out tells me I should either be paying no council tax or reduced council tax.…