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Tax payment on credit card
Hi, Does anyone have experience of paying their income tax by credit card? I know HMRC charges a 1.5% fee for such transactions. This could be great for a bit of stoozing. I'd rather keep my income tax payment in the bank earning 3% with A+L and in the meantime settle my tax return using my 0% for 10 months Sainsbury's…
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Inheritance tax - Filling in Form IHT205 - Definition Question
I'm filling in form IHT205 as I attempt to administer my late father's estate but I've become stuck on one of the questions (so far...) Q9 Asks: Was the deceased a member of a pension scheme or did they have a personal pension policy from which, in either case, they had not taken their full retirement benefits before the…
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Returning to UK within tax year
Hi Can someone help please? I left UK on 10th May 2009 to take up a tax-free role in North Africa. For various reasons, this has not worked out very well (failure to be paid on time, other issues) so I want to return to UK. I take a small element in local currency each month upon which I pay tax locally. The rest is paid…
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Allowable expenses: buy to let
I didn't know which topic this should come under so I thought I'd try the tax topic first. I let a house and I am filling in my first tax return. I have a buy-to-let mortgage and want to know what expenses are allowable from the following list: 1. interest only mortgage payments 2. mortgage insurance (mortgage company…
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Transfer of tax?
I'm a few days off my 60th birthday:beer:, unemployed :mad: and with very little chance of gaining employment before I retire. What are the pros and cons of transfering my tax allowance to my wife (who is a mere stripling at 54 ish) and is it possible. Where can I find easily understood facts on this subject? Thanks in…
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cgt helping daughter on property ladder
hi. looking for advice please, a financial advisor has advised would not be liable for cgt if enter into a joint mortgage. daughter can meet mortgage repayments easily, but does not have a credit history[never been in debt] making it difficult to obtain a mortgage in her own right but no problem if i am added to…
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Council Tax query
I know this is probably a bit cheeky but I have to ask... :D My husband has just started working as a self employed HGV subbie and now is only home one or two nights a week. Is there any way that this makes us eligible for single person council tax reduction as I am the only person here for most of the week and he is home…
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Council tax - band change?
We have recently extended our house downstairs, but upstiars have converted it from a 4 bedroom to a 3 bedroom. Does anyone know if is it at all possible that I could apply to reduce my council tax?
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Can I reclaim tax on union membership?
My work union membership is £12.50/ month, am I able to reclaim tax against this? TIA
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CGT Relief
Our mother died earlier this year and my brother and I discovered that she had transferred her house into our joint names in the early 1990s. The house was downvalued at £200,000 in May to reflect the rundown state of the property. We are now spending a considerable amount of our own time and money in upgrading the house…
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Tax implication if pension paid immediately??
Hi I am 58 and I recently took a redundancy package from my job. my last day of work was 30th September. My redundancy payment was £40k (£30k tax free and I paid tax at 20% on remaining £10k). I opted to take my company pension early from Oct 1 which gives me a tax free lump sum of £56k and a pension of £18,500 pa. Someone…
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Tools.
I work as a panel beater and have recently finished my apprenticeship which lasted 4 years , in that time I have needed tools and bought them . I will almost certainly always be buying tools every year as my job will always change as cars change , I'm wondering is there any rebate or tax deduction available for some-one in…
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CGT bed & breakfasting, calculations
I'm getting terribly confused with the CGT bed and breakfasting rules. http://charterconsultation.hmrc.gov.uk/helpsheets/hs284.pdf I've provided a hyptherticial senario (as using my real shares is just too confusing at the moment) 01/01/2009. Buy 100 shares at £10 each costing a total of £1,000. 02/01/2009. Sell 100 shares…
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Taxing Times 5 Discussion Link
This thread is specifically to discuss the content of the Taxing Times 5 Article To discuss or ask a question about the article: click reply
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spread betting tax
Hi I am a financial spread bettor. This is tax free in the UK. However, I am thinking about moving to Spain in the future. I understand that if I am non resident in the UK (out of UK for more than 183 days per year) then I may be subject to tax in Spain. Would this be capital gains tax? What are the rates in Spain? Could…
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Ebay and paying tax
Do I still need to pay tax if I'm only making about £100 profit a month by selling goods on ebay? It's also been more than 6 months, so I'm worried I'll have to pay a fine. Has anyone managed to talk them round this?
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Any extra taxes to pay??
aaarrrgghhhh I think I deleted my question so here it is again.......My fiance is a Canadian, resident in US with a US bank account. He wants to transfer funds to my Scottish account so that I can purchase our family home before he gets here and before we marry as he is in hospital((f$%"*&g bin laden:mad:)). He will be…
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Any extra taxes to pay??
This is a wee bit complicated so sit comfortabley!! My fiance is a Canadian, living in America with American bank account. He will be returning to Scotland under the Ancestory rule before we get married. He wants to transfer funds to my Scottish bank account from his American one so that I can purchase a family home before…
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Cap Ex and AIA and Small pools
So I now have upto £50K for my annual investment allowance but my question is with regards to the small pools allowance. You can write off any small pool upto £1K - is this the value as it is transferred from last year, or is is after this years 20% write down allowance? e.g. So say my pool value carried to 08/09 is 1001,…
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tax rebate
hello everyone, just wondering how long does a tax rebate take to be paid out? i phoned today and they said i havent had one for 5 years so they said they would calculate then send out a payment.:confused: