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Annual party -partner/family attendance
I am director & only employee of my LTD company. Under expenses allowances there is a £150 max per head for an annual party. If my husband comes party ( hotel) with me can I claim £150 for him also =£300 total expenses allowances please?
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Am I on the right tax code?
I'm paye elsewhere and registered self employed. I did a day teaching through an agency and received this payslip. Am I on the correct tax code?
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How to get a tax rebate inc Tax Code Checker
Hi folks, This is the discussion thread for the MSE guide to checking your tax code and possibly getting a rebate (and dealing with underpayments) How to get a tax rebate (inc Tax Code Checker) Please feedback on the article in here, plus add suggestions for improvement - or just discuss it between yourselves! If you want…
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Undeclared Income But Still Below The Basic Threashold For Tax
I receive a small works pension since 2011. Started receiving Carer Allowance in 2020. The two together have always been below 12,570 by at least 2,000. Saving have never been more than 1,500. I've now just started to claim my State Pension and after downloading the App discovered that HMRC do not know about my Carer…
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Tax payment options after self assessment online
Does anybody know if there are any payment options other than a one off single payment online ? Maybe a monthly direct debit option set up with your bank up to the January deadline, or anything else ? Thanks.
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Online Tipping/Gratuities
From the viewpoint of a tip giver (not a tip recipient), can anyone point towards the HM Revenue & Customs regulation upon being charged VAT upon voluntary tipping? I can only find E24 which states: yet online sites add VAT 🤨
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Tax confusion
Hi I’d be grateful if anyone can help me out please, I’m trying to bring myself within the basic rate tax bracket. i took early retirement and have a company pension income of £17,027.92 pa tax code BR. recently I started a new job salary £60k plus car allowance £5,610. I’ve bought some holiday which I think will reduce…
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Inheritance advice needed please!
I am over 75 and my wife is just short of State pension Age. We have an income of just under £15K a year made up of my State pension, Pension Credit Guaranteed Credit, and an annuity of around £700. What savings we have are in Premium Bonds. We do not pay tax. My wife will receive an inheritance of £120K or so later this…
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Settlement Agreement (ex gratia) and PILON tax treatment.
I appreciate this might be a complicated question, but could anybody give an idea of how much I would expect after Tax and NI, on a ex gratia payment from my employer of £100,000 and a PILON of £16000 in April. With no plan for any further income in that tax year and also at the point of payment I would have earned gross…
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20% tax band question re tax free allowance for bank interest
Basic Rate 20% is up to £37700. I'm lucky enough to earn bank interest and unfortunately with state and private pensions have just tripped into the 40% Rate. My 2024/25 tax calculation, states my Basic Rate 20% is £37200. After querying with HMRC they sent me a letter stating: You can earn £37700 @ 20%. The first £500 of…
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Negative Tax Code
I have just received a negative tax code for the coming year, K371. Never had a negative code before. How do I work out how much tax should be deducted, i.e. how much income should be taxed at basic rate.
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When to advise HMRC of estimated income
I’m an additional rate tax payer on a K tax code (K72). I’m due a bonus (>100k gross) in July which is paid in Shares therefore I’m unable to sacrifice to my pension pot. I’m planning to crystallise these shares when they are exercisable in July (to avoid any CGT) however I’m unsure if I’m better to advise HMRC of my…
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High earner tax - confused!
Hi all, I’ve had a number of promotions over the last few years and lucky to have experienced a significant increase in my earnings - I am extremely grateful but also getting increasingly confused by what this means in terms of tax implications! I noticed my tax code is due to change from 1257L to 335T next month. I…
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can attourneys do the GOEI payments?
I am trying to set up GOEI for my dad. He has written a letter expressing his wishes to do this, and included usual details of how much to whom etc, however our solicitor is saying must be careful doing it myself as i am attourney and i cant gift for dad. Dad is 86 and has never done admin, so there is no way he'll learn…
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HMRC sent online marketplace letter for undeclared sales.
My partner recieved a letter from HMRC today stating they believe she has undeclared sales on marketplace up to year ending 22/23. I have an online eBay business with various eBay accounts and some are in my name, some are in my wife's name. I have emailed them to the email address on the letter telling them that the…
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Customs/import duty on Camera bought from France
Hi All - I am looking to buy a secondhand camera body from a company based in France. The price is around £4,000 and they say that Vat + shipping is included. Are there any more charges incurred i have found it difficult to ascertain whether there is any import duty (UK) for such an item. As far as i can ascertain there is…
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Charitable discretionary trust beneficiary tax liability
My partner is in receipt of a monthly charitable discretionary trust payment from a former employer, this payment takes her above the personal tax allowance and so I think income tax will be due on the excess. No tax has been paid for many years due to a low income. My forays onto the gov.uk & HMRC websites have left me…
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How do I file a late (Stocks and Shares) Capital Gains Tax return.
Hi, Was just filling out my (stock and shares) tax return on HMRC website and it would not allow me to put the date I disposed of the asset in... saying 'you can't use a date from the current tax year'... The relevant tax year is april 2023 to april 2024.... Confused - I checked out the deadline and realised it was end…
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IHT: can I apply gift-aid to charitable gifts from capital ?
I have pension income and already make a direct, regular (monthly, by standing order) transfer of surplus income to my kids. I do not give anything regularly to charity (no standing orders/direct debits), because I want to give one-off gifts to reduce my capital exposure to IHT instead of giving out of my income. So, two…
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Can I claim expenses for repairs
Hiya I know this is going to be a 'how long is a piece of string' question, but thought I would ask anyway. I am a dermatologist who works for a company on PAYE. I also do my own freelance- sole trader business where I consult with private patients online (live video calls). I use an outbuilding in my garden for this,…
