Tax Tony

janet8458

My wife is a non tax payer. I have transferred a number of Company "sharesave" shares into her name. I realised recently that she is paying tax on her dividends. I approached the Registrar and they said that they have to deduct the tax even for non tax payers. She has been paying this tax for many years now. How can I stop it in the future and can I claim any back?

roharper

My wife and I had a villa built, all payments being made in tax year 2005/06. We then incurred various expenses adding to the building and fitting it out. Do we ned to complete a tax return for 2005/06 to show these costs of acquisition or just retain all documentation and receipts for calculating capital gain when we come to sell it at some future date.

We have received rental income in 2006/07 and have already declared this to the local tax authorities through a local accountant. When we complete a UK return for 2006/07, will we have to produce the Turkish title deed to prove ownership (it is currently registered in my name only and will be re-registered in joint names on our next visit in April). All finances are shared and villa income is handled through a joint account, and we would like the income tax liability to be shared too.

whiteiow

Hi, my son has recently gone self employed as a carpet fitter having been made redundant. He already had a supply of tools purchased over the last five years and I have heard that these can be introduced into the business. He does not have the receipts now, just a list of items with original cost. Can they be introduced? and if so at what rate? new or a percentage of the new cost? Thanks, whiteiow.

angelab_3

My husband is in fulltime employment as a carpenter but has just been offered a private roof contract between him and his friend the payment is £10,000 how do they split this payment and declare the tax as they are not registered for self employment anymore?

lloydbarclay

Hi Tony,what is the criteria for having your interest & small pension paid gross,
my wife & I have state pensions totalling £740/m between us and we get a private pension of about £180.net/m our interest on investments is about £10,000 p.a.taxed at standard rate, we are both 68yrs of age,does the interest count as income when deciding whether we are non taxpayers or not

candudt

Hi Tony, I have sold my shop which was part living accomodation ,I have owned it for more than 10 years can the proffits from the sale be portioned part business and part residential as I have lived in the flat and can the proffits be subject to taper releif due to the time that I have owned it.
regards candudt.

Cascade

Hi Tony - thanks for doing this!

I'm helping my partner fill out her tax return; she is self-employed working as a therapist, and frequently has to spend money on training and new equipment.

What are "Capital Allowances", and what is this "40% First Year Allowance" on the self-employment return?

The return seems to indicate that taking a 40% first year allowance is optional. What are the pros and cons?

Stephen

sarah_&_2_screamy_kids

Please help me because I'm being pased from pillar to post!!

I received a letter from the inland revenue telling me that they were changing my tax code from 494 to 471. I happened to look at my pay slip which said my tax code was 460. I rang my employer to query this (not knowing anything about tax things) and they said i should contact the tax office and query it with them. I rang them and they said my employer had been taxing me wrongly and that i should probably receive a back payment from my employer for the difference. I then rang my employer who tried to pass me back to the inland revenue people, saying that my new tax code would resolve any discrepancies so far. I really don't understand and feel that no-one is really listening to me, or wants to admit there's a problem.

Milo'sMummy

Hi Tony

I started up as a self-employed PartyLite consultant in April 2006. (It's Party plan selling candles at people's houses) I did my first party on 5th April (bad timing I know!) but my official start date with PartyLite is 18th April as this was when my consultant agreement was received and accepted at head office. I wasn't paid any money till the beginnign of May as the party I did on the 5th April went towards my starter kit.

I was also a PAYE employee with another company until the end of September 2006 I spent all of the tax year 05/06 (except about 2 weeks) on maternity leave. So I didn't earn a great deal.

So my question is do I really need to fill in a tax return for Tax year 2005/06?

Cheers! And Happy New Year!

Vikki

charlie123_2

Hi

I left my job in May 2006 after a few months my employer asked me to do some temporary work for him for a few months. I did this but was not on payroll therefore my earnings were not taxed at source. I have now rejoined the company and am now on payroll. Can you please advise how I go about declaring the income for the 4 months I was not on payroll?

Very many thanks

Kate