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Vat on shop purchase claim back
Hi I wonder if you someone could answer the below question for me. A friend is considering buying a shop , it is prices £160,000 plus VAT He wanted to know if he would be able to claim the VAT £24,000 back once the business started. Also what type of accounting does most Shops (corner shop 1 owner), do? Thanks in advance…
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TAX REBATE-Wifes gift shop gone bust!!!
Hi Could anyone out there give me some advice on Tax rebates.My wifes gift shop has closed down due to the credit crunch.We are now paying for the lease and business rates from our personnel joint bank account.I fortunately still have a job and pay tax on PAYE.Can I reclaim any of the money I'm shelling out against my tax?…
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Transfer of Equity and Council Tax banding
Hello, Does anyone know whether a transfer of equity constitutes a 'relevant transaction' and would trigger a review of council tax banding? i.e. if a person had a mortgage in sole name and subsequently another person was added to the mortgage and a transfer to joint names took place is this different to the property being…
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Tax and hours worked
Hi I put this on the wrong thread yesterday so i'll try here I have an annual pension of £21,319 gross from previous final salary employment which I don't pay NI on and take home net £1500 a month I have been offered a job that is 37.5 hours/ 5 days a week that has an annual salary of £20,225...which I will pay NI So…
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French tax rebate for UK resident ?
Hi there, I am currently working in france on a 3 month french contract. I am currently being taxed at 20 odd % and was wondering if it is possible for me to claim a tax rebate ? I believe that I will be under my earning threshold for the year. Any input would be greatly appreciated. Thanks Ian
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unpayed council tax
Just wonder if anyone can help. I rented a house with other 5 people. In 2003 I have bought my own and informed letting agency and landlord that I have moved out. And now after 5 years I received a letter from Council tax office that I have not paid tax from 2004 till 2007! £2012!!:mad: I went to agency I rented with and…
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council tax.. do we not pay it in april?
hello just trying to budget and work out when we dont pay council tax.. is it one month or two? is it in march? thanks!
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paying tax on expenses advice
I think ive been taxed on these. despite payrises my pay goes down grrr. I phoned inland revenue and they have it down as 2008 and 2007 having a total of 5k taxable benefits. They told me to contact payroll as there must have been an error with my p11d. What will happen now? Will i get money back? if so, any idea how much?…
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new business but work fulltime
Hi, not really sure if this is in the correct place but here goes.... I am a joiner and work fulltime by a company. I don't earn a massive amount and one day would like to start my own company. Is it possible to start my own company whilst still being employed by someone else? I have been asked by alot of friends and…
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P60 help
Not sure if I have posted on the correct forum site? My question is........ my husband was made redundant in November. Will he get a P60 from his previous employers in April automatically or do I have to contact the employers and request one? Thanks
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Tax for income on a second property
Hi, I need to ask a question on behalf of my parents. My dad has inherited his fathers property & is now looking to rent it out as a holiday home. The deeds are in his name, but if he were to receive income on it he would have to pay more tax on top of the tax for pension he already pays. My mum receives a minimal pension…
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Tax Refunds - DIY???
Along with my payslip this month there is a leaflet offering a "FREE Tax Healthcheck", where they take all your details and find out if you have paid too much tax. The Tax Refund Company carry this out on your behalf and teh catch is that they take 40% of any money they find you have overpaid. Is there any way you can do…
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Working from home and tax benefites, if any?
Looking for more help, if anyone can assist! I am a National sales manager based in the East Midlands currently. My company has two offices, head office in Devon and a warehouse in Lancashire. It is not feasible for me to be based from either of the work premises. On average I work 5-6 days from home doing admin, in room…
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Self-employment problem
Hi - I'd started a thread on another part of the forums: http://forums.moneysavingexpert.com/showthread.html?p=18756817 It's for my brother, but I think that the tax issue might be more appropriate to ask about here. Can anyone help?
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Tax Code Help
Hi everyone, I'm new here so please bear with me if I'm in the wrong forum! I was wondering if anyone could help me with some advice for my father. He is currently receiving a Mineworkers pension and incapacity benefit, both of which totalled together just go over £8000 in the year, he is 61. He has received a letter from…
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Paying tax on investments
I will be this April getting my 1st Self Assessment forms for 2008/9 after becoming part time self employed. My question is I have a 6 figure sum locked away for 5+ yrs in my investment portfolio with a Fund Manager via my IFA. Now when it comes to declaring savings (which I am aware of) do I also have to declare my…
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Incorrect Tax Code following Self Assessment
Following my self assessment last tax year, HMRC plan to take £844.38 tax that I owe out of next years tax code. The Coding Notice I've received says my new tax code will be 225L giving a reduction of £4221 of my personal allowance thus costing me £844.38 The issue I have is I expect to be a higher rate tax payer next…
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paying tax monthly
can anyone advise if it is possible to pay your tax on a monthly basis rather than twice a year as i do at present, i have been told you can but cant find anything relating to it on the hmrc website thanks bill
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Tax On A Rented Property
Hi all Was wondering if anyone can help a few years ago I invested money to buy 50% of a flat. There has been a small income every month which is pure profit(as the property is owned outright), which I have always declared in tax returns (I am in the high tax band). However things have now changed and my mother who owns…
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tax on a rented property
hi can anyone help just received a letter from inland revenue asking about tax im not paying for a property i rent for £80 a week ive been renting this for about 10 years now,can they claim the tax back for 10 years if so how much do u think i would end up paying. many thanks for any advise or help in this matter ps,bit…