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tax and income from hobby
Hi This is follow on from a thread I did on one of the other boards. My daughter has been getting a bit more money each month from her hobby in addition to her work income. She has been doing this for approx 4 years and has never declared this to the tax man. It amounts to approx £1000 profit per year as income. If she…
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Vat Reduction On Monthly Subscriptions
Hi Can anyone offer advice on what I should do about a monthly gym membership subscription not offering a reduction in price to reflect the change in VAT rates? I am currently a member of virgin gym and pay £39 a month as part of a diamond membership (which means it wont ever go up) but when I contacted them to see if they…
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Higher rate tax and bonus
I currently earn £38,000 and recieve a bonus of approximately £8,000 in my march pay. This year my employer wants to delay the bonus payment (due to end of year accounting problems) and pay it in my April pay. This will mean that I will probably receive a bonus twice in this financial year - at the end of April and then…
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Looking into best way to purchase vehicle for B&P usage..need help plz
Reposted from another section of the forum as adbised by one of the regulars :) Hi, Im currently looking into purchasing a vehicle for both business and personal use. I am a sole trader and the vehicle will be used to travel to and from work as well as for conventions & other studios up and down the country a few times a…
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New Higher Rate Taxpayer
Hi folks, I recently had the (mis)fortune to limp into the higher rate tax bracket and now feel like a fish out of water. Is there an Idiot's guide anywhere? How does this effect savings, investments, bank accounts etc etc. Who do I need to tell? I've never even looked at the dreaded tax return form! :eek:
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Council Tax Increase?
How does the council justify an increase of 4% in today's economy? Any pay rises are always less then the council tax increases :mad:
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paying somebody a monthly sum
This is probably not the right section but I was not quite sure where to put my question. I would like to make a monthly payment out of my taxed income to my niece for the three years that she is attending university to help with general living expenses. Does anybody know if she will have to pay tax on this amount? The sum…
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Can I claim anything back
Hi, I started work at beginning of June last year and my contract ends 31/3 this year I have paid 1400 in Income Tax and 780 NI also paid 250 to superannuation, I don't have another job lined up as yet so was wondering if I'm entitled to claim back any of this money. I don't really want to sign on as I am hoping to hear…
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Council tax?
I was wondering how ability to pay comes into council tax, if for example you have no income would you still be liable to pay council tax?
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confusing letter on NIC
I was self employed up untill 2002 due to disabillity. I did inform the tax office that the businesss was no longer running. This morning I received a letter about NIC saying how much will be taken for this year by DD for class 2 contributions or class 3 volutary. I am and have been on benefits since approx August 2002,…
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Tax to date
Hi, I need some advice on the tax I pay from my wages. I have been employed at the same company since Sept 08. I am currently on tax code 603L and I get paid weekly. Now, my payslip shows as follows:- 19/03/2009 - Taxable to date =£3717.65 Tax Paid to date £0.00 Since 20/01/09 I haven't been paying tax? I have called the…
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Tax codes - I owe them money??
I used to have private health insurance, so around £400 was deducted from my tax free allowance. In May 08 I changed job, so no longer had this benefit, but when I got my new tax code for 2009 to 2010, I noticed it seemed to think I was getting private health insurance from my new employer, which was incorrect. I phoned…
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Valuing Shares for Probate.
Continuing the saga of Mr Dog: http://forums.moneysavingexpert.com/showthread.html?t=1164505 Mr Dog died at the weekend and he had three holdings of shares. Am I right in in thinking that as his executor I can choose to value his share holdings for probate & InHeritance Tax (IHT) purposes using the Friday or the Monday…
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Why should I pay this VAT????
I bought a vauxhall astra from a guy serving in the armed forces in Germany. He bought the car and crashed it whilst under the influence of alcohol. As the car was badly damaged and the insurance was void I agreed to buy the car off him through a recovery company who he owed money to for the recovery costs of his accident.…
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Online tax return
Anyone used the online tax return option and had to send in 975/352 certificates. Do you post them seperately or can you scan and attach in pdf format.
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Where Am I? 40%....20% In Between?
I hope someone could clarify a couple of points please. My base salary is 27 per annum. I earn commission also and last year this totalled circa 19. Or perhaps, thinking financial year-wise anticipate 24 between 1 April '08 and end of this month. On my base salary I'm on the lower tax band 20%. Does the commission push me…
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Tax Rebate
Hi I retired on the 12th Dec and I sent of my p45 with a form from the Tax office to say I had retired. When the 5th April arrives I will have paid to much tax for my earnings spread over 12 months Will I have to apply for a rebate or will it be done without me applying thanks Annie
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register self employed now or wait until the new tax year?
Hi, i have been offered a commission only sales contract which i would like to take up. I also intend to do some freelance work of a similar nature, so will need to register as self employed. I currently work 25hrs a week PAYE to cover bills, and will continue to do so for the next year or so i don't expect to be making a…
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Help with Tax advice
Hi all, Im currently employed as an electrician and have to supply my own hand tools and power tools, now I dont mind buying these as it means I can do my job but what I do mind is not having any kind of tax relief for it. Is there anything I can do about this? Paul
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stocks and shares isa loss tax deductable?
Might seem a silly question to anyone who knows the answer, but I had few years of stocks and shares isa which took a massive nose-dive as you imagine so I withdrew them. I just wondered if the loss I made here, as the amount I got back was less than I put in, is offsetable on my self assessment form in some fashion? I'm…