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Underpayment demand for 2002-2003
Hi I had a demand last year for tax year 2002 - 2003 and successfully appealed against it on the grounds of them being too late bringing it to my attention and also, I could not reasonably have been expected to know my tax code was wrong. My mum has now received one for the same year and I've deleted the info I had. It was…
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UK tax liability on earnings abroad -anyway out?
According to taxation laws of the UK, if you work abroad in certain countries you will be subject to UK taxation on your income in the country you working in unless you are abroad for a whole tax year. This is to do with your residency status of being either resident, ordinary resident or non resident. According to a…
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Help!
Now, I may have been a bit stupid here, I'm in full time employment but for the past 18 months have been doing the occasional bit of freelance writing work on top. Anyway, it's only just occured to me that I should actually be paying tax on this, I was led to believe that the company I worked for did this automatically.…
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Got TOO much money!
HI, has anyone any ideas on this? My parents have a substantial amount of assets, i.e. around £750,000 worth of shares, plus property worth approx £700,000- £800,000. They are in their seventies now. Trouble is they need to reduce this amount drastically, or pay 40% tax on it. They are only allowed to sell about £8000…
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IHT documents - How long to keep?
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Can I get Tax back from money invested in new Company ?
Last April, my Wife decided to set up, in business with another family memeber, I along with one other person put up the £5k capital required to start the business, am I able to claim any of this off my income tax ?
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Paye coding notice
Received today two paye coding notice letters in the one envelope which was addressed to my old address (moved from there 10+ years, current employers have correct details) according to this letter my tax code is going to be amended to 421L as according to them ive underpaid by £451 :confused: Firstly can anyone in the…
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Am I entitled to interest without tax taken off?
I'm a stay at home mum who handles 99% of all the household bills because I have the time and "head for figures and dealing with taxes" (to quote my partner). Each month he transfers £900 (£10,800 per annum) to my account to cover all the household expenses that I pay from my bank account, including credit card and loan…
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Venture Capital Trusts?
What are these all about I know the riskier but you get 40% tax relief? which are the best value with costs etc. Thanks Clint
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Tax reliefs for employees?
I am thinking of asking for tax reliefs on the subscription I pay to my professional body (£80), after having read http://www.adviceguide.org.uk/n6w/index/life/tax/tax_reliefs_excluding_self-employed_people.htm#reliefsforemployees: "[…] fees and subscriptions to professional bodies which are either necessary for you to…
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Income tax/tax credits
I'm just about under the limit for paying income tax. Last year I'd earned enough to just about pay tax but this year its looking like I won't reach the limit. I haven't got any savings as such (spent what I had at Christmas) but hope to start an account, saving a little, regularly, each month. Will I be able to claim the…
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second job
I hoped someone might be able to steer me in the right direction. I currently have a full time job (35 hours a week) and earn enough to be in the 22% tax band. I need to increase my income. Overtime isn't a possibility as it is not offered at work. I am considering taking on a ssecond job on a part-time basis. What would…
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Are Greasypalm rebates 'taxable'?
Heading says it all really. I know that this is described as 'cashback', but if you don't 'buy' anything directly from GP then they can't 'rebate' you in the sense that cashback works as a rebate on credit cards or 'offsetting' works with certain mortgages combined with savings balances. I suspect the answer is 'no' and…
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Tax Refund with partial JSA
Hello forum, I have been reading about taxes and allowances etc., and I came up with some calculation, but I am not sure about a number of issues... My circumstances: During the 2004-2005 tax year I have been on Job Seeker's Allowance 05/04/2003 - 17/02/2004. I then started working at a rate of £28000 PA gross. Following…
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Tax On Share Dividends
As far as I understand, share dividends are taxed at 10%, regardless of whether you're otherwise paying income tax, or what rate you pay it at. Am I correct in undestanding that, as a non-income taxpayer, I still pay the 10% tax on dividends and can't reclaim it?
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Refund pay-as-you-earn
I'm a student and do not earn enough to have to pay tax on my income. I have been doing some temporary work in the library for my university, and on my pay slip it appears they have been deducting tax, which I would like to try and get refunded. Should I assume it will get sorted out automatically, or is there any…
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Disappearing threads on this Forum!
I have started at least three thread on this forum over the weekend - but all have disappeared. Where are they and all the others that have 'disappeared'?
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Tax Relief
My wife has undertaken a professional course at her own expense (£850) can she claim tax relief ?
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Chargeable Gains on Investment Bonds
No longer wish to disclose personal information
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Discounted Gift Trusts
No longer wish to disclose personal information
