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IHT And Possessions
Are possessions included in the value of your estate? i.e. carpets, TV's car etc.
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SA Return - Employee Expences
With being a manager with the Post Office, can I claim for suits etc as 'Other Expences'. Or how can I reduce my Tax Bill. [glow=red,2,300]??? ???[/glow]
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BR Tax code?
Hi there, My son started work in August and only it is with a company he goes to college full time for the first year and then into the work placement, he is only 16 and his tax code is BR no numbers or anything just BR, his wages are £616 permonth and they take £132 in tax. Is this what he will be on throughout or is it…
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Go To Jail
The first person likely to go to jail for Inheritance Tax fraud has been sent to the High Court for sentencing. The man did not tell the Inland Revenue or his brother about £400,000 which was part of his aunt's estate. The Inland Revenue lost about £160,000 tax. See item on page one of the Sunday Telegraph Money Section.
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Inheritance - will I be taxed?
I am completing my self assessment tax form and noticed that Question 7 asks about inheritances: "Q7 Did you receive, or are you deemed to have, income from a trust, settlement or the residue of a deceased person's estate?" I received an inheritance during financial year 2003-4. Why is the tax man asking about this? Am I…
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Paying IHT early
I believe that if you pay IHT before you die, it is only chargeable at 20% rather than 40%. Can anyone give me any more info? As you don't know how much your estate will be until the day you die, what happens if you over or under pay etc?
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How 2 pay tax bill interest free!
As a self employed person I have my tax bill looming at the end of the month and have been thinking how to spread the load.... With a new Egg Credit Card you can balance transfer for 6 months interest free and they are the only people who will transfer into a personal account, so if you transfer the amount to your personal…
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Up to £825 tax-free for small employers
The Inland Revenue are enticing small employers (fewer than 50 employees) to file their end-of-year returns online with an offer of £825 tax-free. I've spoken to the IR and they confirmed the employer doesn't actually have to have paid any remuneration to qualify for the payments; a "nil" return will suffice. This could be…
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Bank work in the NHS
My husband works for the NHS, and like most clinical workers has more than one job with the same hospital. He has been presented with a tax bill for the past two years as he had tipped into higher rate tax bracket. We are now into rather a huge debt. But I want to warn other NHs staff that although you may be paid by the…
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Paye + extra income newbie question
Hello I am PAYE tax payer and in November I received an extra income of a few thousands pounds for a consultancy. I called today the Tax Office. Since it is a one-off they advised me to contact my tax office to inform them of this. Does it mean I'll have to do a return? Will I be able to offset any expenses I sustained to…
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New Job
Have been offered a new job, which is a salary paid position, including company car, bupa and stakeholder pension. Trying to work out how much tax I will pay on all of these benefits. The company car is on a personal lease scheme, so do I only pay tax on the value of the car and not relating to the c02 emissions. Any help,…
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Do i have to pay Tax on rental income?
My wife and i are moving to military rented accommodation in march 05, at present we live in our own house, the mortgage in my name only. My wife is having a baby and intends to give up work to be a full time mum, i am planning to rent our house out while we are away, with all rental income paid to my wife's seperate bank…
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Do I need to self assess
I am employeed full time (£23500 a year), but I have recently done some website design work in my spare time and got paid for it. This totals about £3000 do I need to do self assement? Also what happens if I miss the tax year for self assesment?
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Tax claim on savings when on IB?
I'm wondering if it's possible to claim back tax on saving account interest when on IB (since 1999). Can someone advise please and also, if applicable, the name of the form I need to get hold of. (I hope I've posted this on the right board ::)). Thanks in advance.
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windfall! how can I avoid big tax burden
A friend and I may be about to come into some money from selling some land we own . We are both working and are open to suggestions. Would an investment into property or maybe a bussiness together spending the money on assests help at all? The land is for housing. If we were to develop ourselves and 1 of us to live there…
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Own business and tax and NI??
Hi, I'm not sure if this is in the right place or not. Also, sorry if this questions already been asked before! My partner works full time and earns about £13000. He's recently started doing web design, and he usually gets about £200 per job. He's going through all the procedures of giving invoices etc, but he's a bit…
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COMPLETING SELF ASSESMENT TAX RTN
My husband now has 2 years tax returns to do! He is a self employed plasterer who hasn't had that much work this year. We don't have enough cash to pay the tax bill and £350 for each set of accounts to the accountant. I have put all his income and outgoings on a spreadsheet, categorised by materials, tools, petrol etc. I…
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tax code mess up please help me
tax code for2001-2002 was 760l i think. i am pressuming it was because we had a child under the age of one. any way to try and keep it short i paytax paye but because i went over 40k i had to do a self essesment. they wrote to me and told me i owed £1000 in tax and was fined £100 because of being late. after words they…
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self employed advice needed
My son has been working for 4 months during which time he has not paid tax and insurance on his earnings. He wants to say he started work in January but I have a bad feeling this will not work in his favour in the long run. I think we need to come clean even though this has the risk of a £100 penalty for delaying infoming…
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P11D details
An appeal for help! I worked for a US company, and was the sole UK employee, paid in sterling via a UK payrole company. My leaving them corresponded to the company being acquired, and the payrole company parted ways with the new organisation. I have just chased up a copy of my P11D from this payrole company, and they have…