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compensation to be TAXED!
no way around it.
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How do I get tax deductible expenses?
I'm currently having to study my accountancy qualifications off my own back. Previously my place of work has paid all course related expenditure so I know it is tax deductible. How would I go about getting the allowance on the money I pay for my studies? Anybody know?
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Incapacity & R85 form
Hi, my wife receives £92.50 pw for 05/06, the current IR limit to be able to claim on R85 for her age is £94.00 pw On this it`s close but OK ? However because she originally claimed this benefit before 13 April 1995 ,DWP document states "not taxable" but on R85 help sheet it asks for any "Taxable Incapacity benefit" to…
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Discretionary Trusts
My husband and Ihave just seen a solicitor about making our wills. She has suggested discretionary trusts. These seem to work like magic in respect of tax avoidance The solicitor said we can manage it ourselves and the only fee is that the Wills are more expensive to start with. Grateful for any advice. Chris :confused:
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Tax & NI Contributions
Does anyone know of a website that works out your tax and nat. insurance contributions if you put in salary and tax code? I have seen before but have trawled the net and cannot find at all now. I've found ones which tell the percentage, etc but I want to just put in one figure. Please help. Many thanks.
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car allowance & company car please help
After a hard negotiation it was agreed that I would get £650 car allowance to fund a car, I have had a company car for 3 years, then today the boss has said if I keep the car I have(the old company car) he will pay me £325 per month. These figures are gross. I thought I had it all worked out but now I'm confussed( this is…
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Capital Gains Tax - Sell Now or Later?
Apologies if this has already been covered. I have searched this section but not yet found the answer. My wife and I let our main residence in 2003, having lived in the property for 3 years, and moved into our current house. Our Buy To Let property has now been let for two years however we are considering selling the…
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Not had 2003/04 P60 Yet
My wife has a part time job with the "after school care club" at our local junior school. The "employer" is a registered charity and this is run by a committee. Because my wife has several part-time education jobs, she over-pays tax every year and has to claim it back from the IR. The IR are now asking my wife for her P60…
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Offsetting incidental expenses e.g. lunch (merged)
My employer pays only for evening meals when we work away from home (up to 80 nights a year). I've been told we can offset costs for lunch, tea, coffee etc. againsnt tax but can't find anything clear on ir.gov.uk only vague mentions and the girl on the helpline was worse tahn useless. Does anyone have any experience of…
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Tax questions
I'm an NQT and I am pretty sure I've been paying too much tax since I started in September. How do i go about claiming the money back? I have been on the Inland revenue website but could not find the info. I thought I would receive my P60 last month so I could submit a claim but have not had one - I thought that I should…
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Additional Children's Tax credit I just found out about-Children born 01/02 or 02/03
Amazingly there was a childrens tax credit before the new child tax credit but you can only get it if you apply to your local tax office. Tax Credits know nothing about it. Basically it is still available to claim retrospectively until Jan 31st 2008 for children born in 01/02 tax year and Jan 31st 2009 for those born in…
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Building Society tax cockup ?
I had an annual statement of investment account form the other day and realised immediately that the tax deducted figure was way too low, I'm a 20% tax payer. It's a regular saver a/c, I've never missed a payment or made a withdrawl but I haven't had my passbook updated for 18 months until today ! The tax deducted shown in…
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Income tax payable on gifts from will?
If someone leaves you money from their will, do the Inland Revenue consider this to be 'income' you have received and therefore potentially liable to be charged income tax on it? My head is spinning with all the Inheritance tax stuff on the forum... but I just can't seem to find this anywhere.
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When will i get my P60?
Ok i work through an umbrella company (not setup by me) and their rather naff sending me slips (i only got 3 of about 9 payslips and that was only by asking) anyway i know i should be in for a bit of a tax rebate so im wondering whens the latest i should get the P60 (does the company or the tax man send it?) and also as…
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stamp duty and property transfer
can I transfer my PPR to my mother without stamp duty implications? the property is valued at £300k.
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IR35 Advise
Can any one explain to me how does this IR35 works and the way we can aviod (as much as possible)? Thnx
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VCT and CGT
Back in 2000, I sold some technology shares and bought some VCTs (venture capital trusts) to defer the CGT (capital gains tax) and to get the income tax credit. I'm looking into selling these VCTs and am trying to calculate what my capital gains tax liability would be. One example (simplified) is as follows: - sold shares…
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No Tax Return
Hi, I'm a higher rate tax payer, and have had to submit a tax return for the past few years. The IR wrote to me last year and told me that i would no longer need to fill in a return. My tax code takes into account various things such as personal pension contributions and other bits and pieces (it's 975L or something) - but…
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Transfer savings to partner
Hi, I'm a higher rate taxpayer, my long-term girlfriend (whom I live with), isn't. Would I be able to transfer savings to her to avoid paying tax at the higher rate on the interest? Is there a limit how much I can 'give' her, as she is not family. Would it have a different answer if it was my Mother? Many thanks.
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Gift aid - can you help with a conundrum?
Our family are going to Kenya with a charity in the summer to help establish an orphanage there. We need to pay around £1000 each to cover flights and other costs and there are four of us in our family. Here's the conundrum - the charity (YWAM http://www.ywam-england.com/involved-summer_gokenya.shtml) has taken a £250 CAF…