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

MarineBoy

First of all I am assuming that anyone who is earning in the higher rate tax bracket - i.e. into the 40% band - has at least some interest accruing from a bank account. Does that fact alone require that they fill in a SA form? Is there therefore no end to having to fill out these darn forms year after year after year?

Tom_77

Hi Mr Tesciuba,
I currently let one room in my house to a friend of mine who I have a rather informal payment system with. Do I need to do anything for tax reasons?
Thanks in advance,
Tom

drpachu

Is it cheaper to have a ltd company for a secondary income(Have a regular incomeand jOb) to save tax?
Heard somewhere that there is a way to establish a ltd cokpany abroad(channel isle etc) from which one can run business?

Darryl

MarineBoy wrote:

First of all I am assuming that anyone who is earning in the higher rate tax bracket - i.e. into the 40% band - has at least some interest accruing from a bank account. Does that fact alone require that they fill in a SA form? Is there therefore no end to having to fill out these darn forms year after year after year?

MarineBoy

That is what I thought, but today I got a letter from the Tax Man saying that I don't need to fill in a tax return each year from now on. My income is still in the 40% band, so I thought I would have to fill in a SA form, but he says no... I can only think this is due to the fact that I have been claiming tax back each year, and the Tax Man doesn't like this..! I can ask to fill in a form if I want to by calling the Tax office, so if I calc that it's in my interest I will.

If anyone knows why they sent me this letter really, I'd like to know.

Darryl.

abraxas

Hope you can help.

I have worked as a self-employed translator from home since 1997. When the business took a nose dive last year, I worked virtually full-time as an administrator for a period of about nine months, also on a self-employed basis.

Until that time, I had always worn casual clothes since I sat in front of my PC all day, and did not have face to face contact with clients. However, for the administrator work, I had to invest in 'office type', smart clothes. As far as I am aware, the Inland Revenue wouldn't allow clothes as allowable expenses, but I feel that it should in my case.

What is your view on it?
Many thanks.

rose.wyn

Could you please advise whether I have to pay tax on the £70,000 ish I have recently inherited upon the death of my mother in her Nursing Home. I am thinking to purchase my Council House with this money, and possibly even have enough to modernise it - like running hot water, and an upstairs bathroom. (I have little other income. Am nearly always under the £6,000 mark, and have no savings at all. Hence it seemed sensible to buy the property with the third off which they offer.) Or will it be next year I have to pay tax, and if so, about how much should I keep back for the bill. It's all rather a worry and I can't afford an Accountant and am scared to ask the Tax Office these things. Any info. would be much appreciated. I simply don't understand figures I'm afraid. P.S. I shall be 60 in a few months.

smc_4

Hi,

I have been offered a chance to work in Saudi Arabia for 2 years, I am not sure what to do about tax as I believe my income will be tax free?

Can you offer any advice on what I should do?

Thanks
SMC

smc_4

Hi,

I have a couple of bob in a Spanish bank account I have learned that I will be liable for tax on it even thougth its money I have paid tax on in the UK before sending it to Spain. are you able to advise on ofshore acounts, and how offshore accounts work from a tax perspective?

Thanks
SMC

carole0813

I have bought a plot of land with my daughter and my husband it is under .50 hectare-we have now got planning consent for a bungalow to be built for my daughter-this now has to go into her own name and ours removed - does this mean capital gains tax is to be paid.

Edinburghlass_2

carole0813&#64 wrote: »

I have bought a plot of land with my daughter and my husband it is under .50 hectare-we have now got planning consent for a bungalow to be built for my daughter-this now has to go into her own name and ours removed - does this mean capital gains tax is to be paid.

carol, welcome to MSE. Can I suggest you email webmaster@moneysavingexpert.com and get him to change your user name.

People can and do send you spam when they find an email address on an open forum such as this. If you email Webby with a new user name he will change this for you