i need help with my tax claim

milica_2

I have been working in the UK for 1 year and then I came back to my country. It was in March this year. I filled my P85 but i m not sure where to sand it? Should I put in a letter some other documents? copy or originals? (for example parts of P45 which i also got) My previous employer didn't really explained me anything. They just sand me the letter with those doc . I m very confused so please help.. Thanxs

fengirl_2

You need to also enclose parts 2 and 3 of the P45 (keep part 1a).

daveuk77

I'm just setting up a limited company VAT registered. I will be a director of the company, so classed as an employee.
I would like to know the best options for paying a salary and running a car without by paying the least tax personally and least cost for my company.

1. I have been told that i can pay myself a salary of £6750 per year tax fee and claim back a dividen from the taxable company profits up to £40,000 per year and only pay 10% tax on the dividends. Is this still correct or has it changed for the tax year 2010-2011?
2. Is there any other options?

I also need to run a company vehicle. Which option would be best for me?
The contract hire vehicle has a cost of £362+VAT per month and i will do around 12,000 business miles and 3,000 private miles per year.
1. Should i lease the car privately at a cost of £426 inc VAT + £1000 insurance and claim back business miles at 40 p / mile - up to 10k and 25p / mile over 10k - £4500 / year.A personal cost to me of £1612 / year
2. Should i lease the car and insure it claiming the VAT back off the lease and the fuel, and paying for the insurance and pay tax on my wages as a benifit in kind of £5295 for the car (£1059 / year) and pay for my private fuel.
3. Should i lease the car and insure it claiming the VAT back off the lease and the fuel, and pay tax on my wages as a benifit in kind of £5295 for the car (£1059 / year) and pay for benifit in kind on my fuel £3420 (£684 / year) and not pay for any private milage?
3. Are there any other better options?

Sorry for all of the questions but i would really appreciate some advice?

Dave

fengirl_2

In answer to your questions:
1. Yes, but you would pay NIC on this level of salary.
2. You need to consuklt an accountant as we dont know your entire financial situation.
Ref the car, it all depends on the list price of the car and its CO2 emissions. Again, you need to take advice from your accountant.

milica_2

does enclose mean to send original 2 and 3 of p45 or copies? Also on which address because i never got it in the letter? Is there some special office of HMRC for receiving those kind of letters?

dzug1

milica wrote: »

does enclose mean to send original 2 and 3 of p45 or copies? Also on which address because i never got it in the letter? Is there some special office of HMRC for receiving those kind of letters?

Originals. Original 1 is yours.

The address is the tax office that dealt with the employer that issued the P45. Its reference number will be on the P45 - the address ought to be but looking at a blank I just happen to have to hand it looks like you can't rely on it.