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Cash Gift from Mother to Son
Hiya everyone, new to this so not sure how it all goes so will just post my question.. My mum wishes to give me a one time cash gift of £40,000, as i am getting married in January and then in a 3 years the plan is to move to America with my American Wife to be.. i am 29 years old and my mum is 62 years old and I was…
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Tax refund in wages.
I finished work in December and started back at Uni for 6 months. I finished for the summer and returned to my old work for 9 weeks of the summer holiday. Last months wage slip had the usual PAYE tax and NI deductions, however this month the PAYE tax from last months wages was refunded and no PAYE tax deducted. Is this…
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Dodgy P87 claim
Someone I work with recently submitted a false claim on a P87 form (at least I think it's false). I have submitted a couple of these claims in the past and I am aware that this form is used to claim back money for the business travel you make in your own vehicle. I know it's abit more complex than that but in my opinion…
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Tax help please
Hi Until yesterday I was working full time and earning £13000 a year with the standard single persons tax allowance. 6 weeks ago I was traced by a company and following the death of my estranged husband awarded a pension of £22000 a year plus back payments on this to last july. I was awarded a back payment of £18000 last…
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Do you pay tax on cash gifts?
Reading a reply on another thread it was suggested that you can give away as much money as you like and the recipient will not have to pay tax - there is no tax on gifts in the UK. Is this correct? I have been trying to find out how much money you can receive as a gift without paying tax on it. If my father decided to give…
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Part time job- Tax implications
Help required! Having reached my 65 tax year my allowances have gone up as I am under the £22,900 limited allowed. As things are at the moment I am coming up each month with a shortfall, not by much, but over the year it is making a dent in my savings. To rectify this I thought I would get a partime job, on the face of it…
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VAT back?
I am converting a house i own into to two new houses, by dividing it into two and adding an extension. I dont intend to live in either house when they are finnished. ( it will cost about £65,000 to do on top of the price of the house ) Is there anyway i can claim the VAT back on this project. ie limited company or Vat back…
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CGT: Principle Residence Relief: Too late to benefit after sale?
My father has owned his first, de facto main, residence, P1, for nearly 50 years. In 1996 he acquired a second residence, P2, which he used regularly, but I do not believe he ever made a S222(5) CGT Act 1992 election to choose his Principle Private Residence. He is now selling P2 and I would like to obtain relief for the…
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Electronic Synthesizer - Wasting Chattel?
I just wondered if anyone could clarify whether an electronic synthesizer would be classed as a 'wasting chattel' when viewed for CGT? I gather all machinery is classed as wasting chattels - but what about electronic goods - are they classed as machinery? Thanks!
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Higher Tax Code Questions?
Hi All, Im currently paid £28000 a year and with a shed load of overtime im likey to earn over £40k this year, my concern is the tax i will pay on this. I've asked people i work with but noone seems to know, some say that if i earn enough to put me in the higher tax bracket that i'll pay 40% tax for the following year?…
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Working abroad?
I'll be working in the Far East for three months. Are the income tax rules still the same for this period of employment? Thanx
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Travel allowance, taxable or not work changed it without notification?
For the last 6 months or so I was given a travel allowance as I live quite far from where i am working at present. This has been on the right hand side of my wage slip meaning I was not taxed on it. Suddenly without any notice or warning this has appeared this month on the left hand side of my wage slip meaning that I have…
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Becoming a mature student: self employment and paying tax?
I became self employed in September 08, and submitted my first tax return in April 09. However, next month ( Sept 09 ) I will become a mature student ( studying full-time ). It’s possible that I may try to continue working for myself on weekends ( providing the work is there of course) but I'd like to know what I should do…
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Receiving inheritance money from abroad
My nan passed away and she left me £90k but the money is in Japan. My mom said she'll just 'send it' to my normal account here in the UK. - Is this such a simple process? - Would HMRC stop the transfer assuming 'abnormal' movement? - Would I have to pay income tax on £90k? If I am going to get taxed, I'd rather fly out…
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S/E-Fuel claim?
Hello All, I am confusing myself with my Tax return and would be grateful for some advice, I work in the construction industry and have been paid through CIS since the beginning of November last year. I use my own car for work and personal use and I reckon I probably use it about 80-85% work and 15-20% personal, for the…
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Tax refund and head over Parapet
Hello one and all I was wondering if someone can settle an argument my wife and I are currently having over the dining table. My wife works in the NHS, and a company has told her, and her colleagues, that they may be due a tax refund on such things as being a member of professional bodies etc. I have told her not to bother…
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tax refund for tools
can anyone help me on this situation. i currently work in a garage and have to buy my own tools.i must spend hundreds of pounds on tools every year.i already claim the statuary allowance for my job which works out about a pound a week.i have heard i can claim the money back from hmrc. is this true and how do i do it.
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Tax rebate cheques - when will they arrive?
I have been trying to get a rebate since April - (my information is there, 2nd post from bottom) http://forums.moneysavingexpert.com/showthread.html?t=1839065&highlight=tax I did write them quite an angry letter and within a week they were on the phone, phoned my house phone, my mobile twice then left a message. I rang the…
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Training Courses for Doctors - Any Tax relief?
Because both my wife and I are top rate tax payers but working for big employers every couple of years we get letters from HMRC telling us we do not need to complete a self-assessment because our lot are good at the PAYE. That seems to save a lot of hassle, so I've been glad of it. Recently though I've been wondering if…
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Tax on personal pension
I recently took early retirement on the 24/7/09. I am to receive my 1st pension payment of £706 per month on 1/9/09. I have calculated that my tax on this sum will be about £33.75 for the month(my tax code is 659L) However as I have received nothing for the the month of august and the last week of July, they have included…