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Reclaiming overpaid tax
Not entirely sure this is the right place, but if not im sure there is someone who can point me in the right direction. Basically over the years I have worked a number of different jobs often 2 or 3 at once meaning various tax codes. However for at least 2 of the years I earnt below the tax threshold. So, if not being…
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Tax on gifts before 7 yr period
Hello! Please could someone help me - I am starting a probate form. I have just found out that the deceased made a gift (non birthday etc.) of £6,000 to my brother 2 yrs ago and £12,000 4 years ago to him and other smaller cash gifts during the last 7 years. Obvious large chunks taken from B/Soc. Will he be due to pay tax…
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Short overseas work assignment
Hi, Wonder if somebody could advise again please (this is a great site) Did a (very) short one-off overseas work assignment last year for a US based company. Paid in dollars, but account it was paid into was a joint sterling account with the wife. I've already informed HMRC of the earnings when payment was received. My…
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Capital Loss on Main Home
Hi, Wonder if someone could quickly advise. Sold my primary residence last year at a loss. Can I submit the loss amount for tax relief else where? Thanks
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Reclaiming tax relief on salary sacrifice pension contributions
Early last tax year I changed jobs and the associated pay rise pulled me into the 40% income tax bracket. At my previous employer I had been a basic rate tax payer and had opted to salary sacrifice my pension contribution, thus all my pension contribution came direct from my employer (including the company's matched…
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CIS Tax Return
Hello everyone I have a question. I know CIS is 20% deduct tax from gross income. I just need to know with expenses such as motor/petrol, tools, phone, car insurance , are they meant to be subtracted against your net income or added onto your net income. I have a friend who's done a tax return and the accountant he went to…
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Please help! :)
I have quite an unusual income. My mother died when i was 13 and i inherited her house which i now rent out. She also worked for a firm with which she signed up to a child pension scheme, meaning that in the event of her death i would be eligible for a monthly income provided that i was in full time education. For the past…
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Trading or not??
If you build a websites because you like computer programing and add a few adverts. and make a small profit is this classed as a trade? Even if you had no intention of making a profit.
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Evening Student with a full-time job
Hi, I would appreciate some advice in relation to the question stated below: I work full-time but attend college once a week as an evening student... Am I entitled to claim back any tax? Thanks
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Lost P60, Tax Return
Hi All For the year 2005 - 2006 I paid £500 (roughly, £490ish i think) more tax than i was supposed to due to emergency tax on my first full time employment. It showed this on my P60 for that year which I have unfortunatly lost. The inland revenue said they would be unable to calculate how much i was owed without that P60.…
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Apply for refund or wait?
Hubby has 2 jobs, a few years ago he underpaid tax in second job by £700 so last year his tax code was ajusted to claim this back, as well as this they done a " adjustment to 20% band" in case he earned to much last year ( into the 40% band) and he would not underpay again. His code was K57 on job 1 and BR on job 2. Now…
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Another AMAPS personal car question
Hi All, Sorry to post another of these questions. My situation is a little different to some but Im sure similar to many. I have opted out of my company car and the company now pays me an allowance of £650 per month gross. They also pay for my business fuel via a fuel card. They do not pay me any other 'per mile'…
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Help from family for a house deposit, is it taxable ?
Hi, my parents(living in another EU country) want to help us by gifting half of the money required for a house deposit. (>20k Euro). Is this taxable ? What is the legal way of transferring the money to my account, can they just wire them ? Will the bank report this or ask questions ? Thanks a lot.
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Does the tax man repay or do you have to ask??
Between 2007-2008 I paid too much income tax. This was because i had temporary jobs that hept changing, According to online calculators i paid about £500 too much tax. via PAYE system. My question is does the taxman ever check their records and do a refund automatically or do you have to write and ask for a refund. Just…
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Tax rebate - But when???
Hi, I am hoping you can help here. I was made redundant in August last year and am aware that now the tax year has come to an end, I am entitled to a tax rebate of around £2,500. I am very keen to get this money as I really need it to live on. I spoke to the HMRC who told me that I would receive a rebate in due course, I…
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Help New Company Car Or Not???
Now ive bought a franchise and i have to use my car for business, i can either get 40p a mile or get another car and put it against my company, im VAT registered. What would be or is the best thing to do and could i part exchange the car we have at the moment. Thanx in advance
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Overseas Earnings (Kuwait)
Ok, firstly sorry if this question is in the wrong section, but it seemed most appropriate to my eyes. I may have an opportunity for work in Kuwait for 4- 6 months ( the employers estimate of the time needed) They have stated that they would pay me in local ( Kuwait) currency and not tax me the on the earnings locally…
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Capital Gain Tax - Urgent Help Required!
I have just purchased our house from my mother at a discounted price and am now panicking that we may be about to be hit for capital gain tax. Mum is still living in the house (rent free) and I don't know if this makes a difference? Mum bought the house for 52,000 in 1997 Market value now 160,000 I purchased from mum for…
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Increase in NI contributions
I was rather shocked to see that the NI contributions have increased this month - I get paid on the 23rd of every month - so be aware that if you earn above the upper accrural level (about £40,000 a year) you could have sting in the tail and have a pay cut. My HR dept spent time checking my pay and said yep - NI has been…
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On Job Seekers Allowance - missing tax refund
Back in July I got my P45 from work after redundancy. It says I got paid £27399.80 during the year and paid £7944 in tax. Since then I have been on job seekers allowance and received from the DSS my P60U which says in the columns: benefit for current claim: £1573 Pay £0 Taxable £1573 Pay and Taxable benefit £1573 Tax…