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Credit Card Rewards - Taxable?
Hi I run a small business from home buying and selling jewellery. I put my purchases through a supplier using a personal credit card - it doesn't add up to much over the year, however I have been using a reward card to gain airmiles. I hope to build up the airmiles over a period of time to put towards a holiday with the…
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Capital Gains - Rented Property
I have read various threads on CGT and still cannot fathom out my liability if I decide to sell a property I rent out. I am hoping someone can help! Bought house in Nov 1999 for £71k - costs say £500 Lived in until Aug 2004 when I moved out and let to tenants Now live in second property which I bought in Jan 2004 If I now…
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Benefit in kind?
Hi all, I work for a bank that offers staff loans at the BOE base rate. But i've been told that if i took one it means my tax code would be hit for 'benefit in kind'. anyone able to tell me how much of a hit i could expect to take?
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Tax refund after redundancy.
Hi all myself and my husband were made redundant in July of last year, and still have not managed to get jobs. How do we go about getting a tax refund.If any one can help i would be grateful.
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Need help with tax return
I'm just filling in a tax return for my first time and I need to know if national insurance contributions are tax deductable, i.e. do I count them as an expense?:confused: Thanks in advance!
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council tax band
With the value of houses dropping quite a lot recently does this mean that everyones houses are in the wrong band?
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Tax refund instead of tax code change
Hi guys, I got some overtime paid through in Dec which was heavily taxed and above my normal band. Yesterday I got a letter with a new tax code for 1st April. I'd much prefer to stay on the same code I'm currently on and get a tax refund as I need the cash in a lump sum to pay off some bills. Does anyone know if this is…
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HELP! Reducing CG Tax by making a gift of shares?
Hi, I'm a long time reader but new to the posting and I'm hoping someone can help me with a question I have. My mum has some shares in a Ltd company which she's held for many years. The company is now being bought out by a larger company and my mum will sell her shares for around £50K. I understand she will be liable for…
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Tax Code Help - Should I be due a rebate??!
Hi, First post on here; my friend recently realised that they have been paying too much tax and so it made me wonder as well. I've used a couple of tax calculator's but am still none the wiser as to if I'm on the right code and also if I am due any back or need to pay them. Can anyone help me understand this? My pay…
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I would like tax advice
Hi I have been helping a local primary school to bring their website up to date. to say thank you they have offered to give me £100 for my help. i was just wondering would this bring up any tax issues. I'm currently unemployed and have no income. Thanks
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Limited Company - Flight Expenses claim eligibility
I am a doctor living in DUblin and work through my Limited company in UK. I do contract work which is Monday to Friday only with extensions of the contract on a 2 weekly basis as needed in England Hospitals. I go back to Dublin on Friday night from Manchester by flight and return on Sunday. 1) Does my Flight charges back…
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Company Car Tax Query?
Not sure if anyone can help or offer some advice, I seem to have hit a brick wall! From October 06 to August 07 I was employed as a sales rep and given a company car. The employer advised me that their company car scheme was a rarely used system, but would be beneficial to me financially provided I did "enough" miles each…
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Tax rebate following redundancy - how much?
Hi there, I was made redundant in November and was paid in lieu of notice, therefore my earnings to the end of November were approx £44,000. I have been unemployed on JSA of £60.50 per week since, and don't expect to work again til the new tax year. Does anyone have any idea what kind of tax rebate I will get? I phoned…
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Someone's freelance situation
Someone I know has paid for some software to be able to do some freelance work. However, the amount of money they'll make this tax year will be £25 less than the software costs. Do they have to declare the amount they've made to Revenue & Customs?
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Emergency Tax
I know I am currently being emergency taxed. Will the tax office eventually put it right without me contacting them?
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tax benefit by becoming non resident during maternity leave?
Hello, my wife will be on maternity for 1 year from mid April. She gets 6 months full pay, then 6 months statutory allowance. Now, she spends her entire maternity leave abroad, and in effect becomes a non-resident, does she receive the UK income tax free? (ie taxed at whereever she becomes resident for the time?) thanks…
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Revenue want to reclaim their refund...
In december 2008, the revenue sent me a letter saying they had credited me with nearly £2000 due to some overpaid tax. This seemed a bit strange to me as I wasn't aware of anything like this, but the income tax form has always been a bit of a mystery to me. I phoned them up and asked them several times whether they had…
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Claiming Tax back on Car use as a sole trader
Hi there, I just wandered if anyone could help me as I am a little unclear on this. I am looking into getting a new car and I am not sure which would be more efficient tax wise...a lease or a new car? Can anyone explain in laymens terms what percentage of each can be claimed back? I know a new car comes under capital…
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Do I need to pay voluntary N.I contributions?
Hi there, grateful for any help that anyone can give me... I am an IT contractor who works under an Umbrella Company, so I pay NI when I'm working, but in between contracts I don't claim JSA. How do I know if I need to pay voluntary NI contributions while I'm between contracts, or whether my contributions during my…
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Tax when having 2 jobs!
Hi, Im new to this site.... I currently work earning 16k a year and i am looking at getting a second job in the evening at a local supermarket... Would be earning about 6k a year from that. Thing is iv heard id start paying silly tax if i did get the other job? Would it be worthwhile me doing this? How much tax would I pay…