-
Capital Gains Tax On Second Home
Appologies as I am sure this issues has been covered before but I am lookign to see what tax I will pay on the following: I purchased a property and lived in it as my main residence, I then moved out & rented the property for a period, then I sold it. Feb 2002 – May 2004 - Main residence (Approx 2 Years) May 2004 – April…
-
Tax Code "BR" - To Be Changed - Tax Refund
I am now working for Currys, I used to work at a coffee store (no names). I left the coffee store and never recieved a P45. I am now at Currys and have been since August, but I am on tax code "BR" and am being taxed, its quite a bit out of my monthly wage as I am a student and all the pennys count. Anyway, I have rung the…
-
Complicated inheritance tax from the Netherlands help please!
Hi I'm from the Netherlands and have been living here for over 10 years, my parents want to do a bit tax reduction in Holland. What happens is they give me a one off gift which I then lend back to them for an annual interest cost. I'm not exactly sure how this works, as this is Dutch inheritance tax rules being used, but…
-
PAYE rebate... Am I correct?
I was made redundant in June 2009 and set up my own company in July. In the last three months of my employment (April/May/June) with my old employer I earned £54816.00 and paid £19408.40 in tax. According to my calculations I should have paid £11856.40 so should be due a rebate?
-
Do we pay tax on cash gift?
Hi all I am new to this forum and I need some help desparately! My neighour bought me a massage chair in 2004. He gave me £5000 to cover for it by issuing a cheque to my name, so I cashed the cheque at my bank. Unfortunately, he passed away sometime this year. I am not sure whether he had given out other cash gifts to…
-
Large lump sum as a gift
Hi.. I've read this post but it's not really too clear around implication of receiving a large cash gift so I'd appreciate any other advice based on my example... http://forums.moneysavingexpert.com/showthread.html?t=2061541 My father died a year ago and my mother started living with my sister, now my parents home has been…
-
Is it worth us writing a will?
Here is our situation: * Married couple * Each have two living parents and one sibling each * Both full-time employed standard rate tax payers * No major assets other than house and approx 5% in mortgaged house * Equal joint owners of all assets except e.g. pensions and life insurance policies As far as I understand it by…
-
VOA want to visit...
Hi all, I've just moved into a four bed detached that was extended from 3 beds in 2000. Currently we pay Band D Council tax (about £1400 a year). Yesterday though, as expected I received a letter from the VOA saying they want to come to the house.... look around and take some photo's. I know that they are going to now bump…
-
Claiming for laundry of work uniform
Hi guys do you know how i can claim for laundry of my work uniform? I believe that they is a small yearly amount claimable against the IR and that i can claim back for the last 6 years. Is there a templete letter available to use? regards Bruce
-
Help - Tax records destroyed
Hi, Set up as self-employed and filed my first return last year, decided to do this years at the weekend and despite turning the garage upside down cannot find them anywhere. I can only assume that during a clear out in Summer my daughters have thrown them out by mistake. I now have no records at all for last year, which I…
-
Large Cash Gifts to family members
In my youth, I had a huge gambling problem and ran up huge debts via credit and otherwise in my father's name to the tune of 200k. He is superb about it and would never ask for it back (he is relatively wealthy but lives for his children and has never been interested in money). I am now in a position after many years to be…
-
HMRC - CIS return not received - £100 penalty
Wonder if anyone can advise? I sent my CIS return and payment (to two seperate offices) on 12th August 2009. The payment was received and banked on 17th August, but apparantly the return was never recieved. I got a £100 late penalty charge this morning. I will obviously be appealing - I posted the return! what more could I…
-
Sub Contracting
Hi, Am going to complete my tax return for 08/09 but during that year I had to take quite a lot of time off (family member ill) and sub-contracted work to some other people. Work was telemarketing based, and these people were paid in cash. This has obviously severely impacted on my profit and am wondering if I can put…
-
Calculating Tax Repayment Supplement
Hello, I recently found out that I have overpaid income tax. I have receive a letter from Inland Revenue saying that my tax overpayment in 2006/2007 attracts a repayment supplement. I am not too hot on tax etc so I have no idea what this means :confused: . Is this interest on the money owed to me? If it is how much is that…
-
Underpaid tax for bank interest
Hi, Until I got made redundant in Dec 2007 I used to work for a bank, so I had to declare all interests, benefits etc, which I did annually. The tax man wrote to me recently saying I have 'underpaid tax on bank interest' for tax year 07/08. I always declare everything since for me it is not worth the sleepless nights. I…
-
2nd job as "self employed" income
My other half has started a part time weekend job teaching spanish at a local primary school - just a few hrs on a saturday along with her full time job during the week.. her full time job pulls in circa £20,000 before income tax a year and pays tax and NI already by the time it lands into her bank account... however the…
-
Council Tax questions - help appreciated!
Hi all, I generally post on the debt free wannabe board, however thought you lovely people might be more knowledgeable with this enquiry. I now work in London but my family live in Glasgow so I commute home when I can for a few days. My question is as my husband is the only adult resident in the house, can he apply for a…
-
Cash as A Gift
I am not sure if this is the correct place to ask this question.but ask it i will lol. My dad living on a pension,with pension credit,as £30000 in savings.If he needs any care,i assume he will have to pay out of that.There are three of us,can he give us cash as gifts,and what are the implications. cheers
-
P87 Claim from April 09 HMRC Cheque Dec 09>
Anyone else having problems with HMRC and payment of P87 claims? Submitted mine in April as soon as I had my P60 which I have done for years now and it usually gets paid by end of July. Anyway this year because "Off the new Computer System they have installed for my benefit" they are unable to print out cheques as there…
-
Reclaim Income Tax? 300k
Good afternoon. I was unemployed from Oct 2008 until March 2009. I worked as a broker (stock market) between March 09 until August 09. In that time I paid approx £300k income tax. I have been unemployed since I left that job in August 09. I have not claimed any benefits in periods on unemployment. If I do not work until…