FREE PERSONAL/SMALL BIZ TAX HELP. Self assessment deadline looming

Lan

Hi Tony. Last week I set up my small business, and currently work from home. I'm only going to be earning around £1,500 a year. I know that I can get a S.E.E, and not pay National Insurance contributions, but wondered if I should still pay them voluntarily? Also, any advise that you could give me as to what I can claim as business expenses would be very gratefully received. Thank you

alfweena

as i only earn a small amount, not enough to pay an accountant, where can i find information on the things i can write off to tax?

Diddidi

I work for the UK arm of a US company and recently participated in their ESPP (Employee Stock Purchase Programme). However, someone mentioned that there are some UK tax implications even though I haven't sold the shares yet. I cannot find out anything about what these rules are - can you help?

Many thanks

Diddi

joehodgkiss

I work for Sainsburys, and I would like to know where a happy medium lies between doing overtime and not gettin taxed all of it! I earn around £1200 and get taxed £300 of it leaving me £900 whereas someone earns £900 and only gets taxed around £40. What is the best amount to earn so it becomes worthwhile. As I seem to be doing all this overtime and just gettin taxed!

Thaumaturge

I am in my late 50's and wish to retire, I have sweated blood to build a small business that will realise a reasonable profit when I sell later this year. How do I mitigate/negate my liability to Capital Gains Tax so that I can fund my retirement with the hard won profit? Like many my pension fund is worth zilch!

aussiegazza

I live in a small studio and use my pc/desk for running my self employment (as a sole trader in freelance catering management).

Can i claim a % of the floorspace, council tax and utilities, ISP costs etc against my tax? If so what % would be realistic? (The 'workspace' including cupboards full of research materials etc covers about %15 of the total flat)
thanks

michaels

I make additional voluntary contributions to my pension. In an agreement between my employer, the revenue and the pension company these contributions are taken from my gross salary. My employer then calcualtaes PAYE on the remainder of my salary. When I fill in my self assessment the revenue look at the gross salary and tax figures from my p60 and conclude I have paid too little tax. How should i fill in my tax return so that the revenue understand what is going on?

doreen-dylan

I'm the director of a very small limited company. At an accountants advice, I take dividend payments rather than paying myself a PAYE salary. Can I / should I continue doing this or should I be paying myself a PAYE salary? Any advice / guidance appreciated as I can't afford to go to an accountant! Many thanks.

Steve_of_Deepcar

My wife and me received a sum in compensation for endowment mis-selling during the last tax year. Do I have to delare this on our tax forms - and will we be liable for tax on it?

Olly_3

Hi,

I'm a sole trader and have just agreed (in theory) to sign a three month contract for services with a company Ive been freelancing at for a while. Looking at the contract I'm worried that a certain clause may leave me materially at risk.

Quote:

"If a claim, assessment or demand is made against (the company) for the payment of income tax or national insurance contributions or any similar contributions due in respect of the payments made to you hereunder, you shall indemnify (the company) against any liability, assessment or claim together with all reasonable costs and expenses and any penalty fine or interest incurred or payable by (the company) in connection with or in consequence of any such liability, assessment or claim".

Before i sign, how likely is it that I may incur such fines on behalf of the company and is it reasonable for me to ask for this clause to be removed?

Thanks,

Olly