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Expense Mileage retracted
Hi, Long story so apologies in advance. My current employment requires travelling to client sites using my own personal car. My permanent work location is a head office for which I live quite a distance away. Since I joined the company three years ago, I have always been required to travel to one client site in that time.…
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Can We get a reduction on council tax?
Can anyone shed a bit of light? My son is 17 and doing an electrical apprenticeship. He has been told that we can have our council tax band reduced by one band if he is earning £80.00 a week or less. Is this correct?
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Can I claim for wifes work?
I am self employed and work from home. I am a teacher visiting peoples houses. My wife organises all my appointments, cancelations, new students etc and all the general associated office work. Without her the business wouldn't work. I don't have an accountant and I fill in my own (short) tax return online. Apart from a few…
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Capital Gains Tax
Hi Everyone, I know there has been a lot of threads on CGT and various other things. I haven't found one that covers the following scenario. Can anyone give advice on how to calculate the potential amount of capital gains tax payable? A house which was transfered into 2 childrens names 12 years ago (has been empty now…
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Liability to UK income tax when returning to UK?
I hope someone can offer advice? Last summer my son went to live and work abroad, he was expecting to be there for 2-3 years so filed a P85 with the tax office. However he is now planning to return earlier than this: perhaps June? He had paid PAYE on his earnings before he left, which has not been refunded. Now he is…
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Council tax- no bill yet- problem paying
As yet we have not received our council tax bill so I need to contact them tomorrow about this. However this is not my only problem. Since my wife was made redundant we have lived hand to mouth so to speak and we have no money to pay the first CT installment. I have worked out a plan which involves cutting things like Sky,…
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cheeky question - claiming car as expense
Hi, i am self employed. i work from home. being self employed, i have come to realise that the self employed are somewhat heavily (and unfairly?) taxed. I was wondering if i can claim all or say 50% of my car costs as an expense to reduce my annual taxable income? For example, fuel costs, road tax, insurance, mot and other…
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HMRC post judgement interest
Does anyone have any thoughts or advice on the matter of HMRC charging post judgement interest after a county court tax arrears judgement? Specifically, I believe that HMRC is charging me interest on the judgement amount in a tax arrears action against me. My understanding is that HMRC reserve the right to charge post…
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have I reached the 40% higher tax threshold
I'ma sole-director working through a Ltd Company and have taken £ 6000 as salary (between April 08 - March 09) £10,000 as dividend 1 (plus 10% tax credits) £10,000 as dividend 2 (plus 10% tax credits) £12,000 as dividend 3 (plus 10% tax credits) £38,000 (plus the tax crediits from above) I do have an accountant and I was…
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Mileage claim 40p per mile
If myself and 2 work buddies travel up to a business show in the same car, can we each claim the 40p per mile or is it only for the person who owns the car? Also what sort of records do you need to make the claim? I'm a director and it is a limited company
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VAT miscalculations - advice needed please
Apologies if I've posted on the wrong board but I thought you guys may be the ones to help me. Anyway, long story short, I have recently done a quick audit of our accounts and have discovered that VAT has been reclaimed on VAT exempt or zero-rated items e.g. postage, insurance etc. My main question is this: the…
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Income Tax on Redundancy Pay
I may be made redundant in the near future and due to my time served with my employer - am entitled to a considerable sum How much Income Tax would I have to pay and what about NI ? I take it that this is counted as "normal income" ? Does anyone know any legal method of reducing the tax payable - such as putting it into a…
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being employed AND having a business
I am employed and do not wish to give up my job. How would the tax work if I started a business of my own as well. Could any loss (should it run at a loss) accrued by my little company be offset against my PAYE tax? Thanks
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Tax 603L Week 1 help
Hi I've been working at a company now for 10 months now and intally put on the BR tax code, after a couple of months and ticking several boxes i was taken off that and my tax refunded. Now i'm on 603L WK1 tax code and don't know how the tax system works. I get roughly 710 pound a month before tax (depending on overtime…
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Council tax
I'm due to move in an apartment say in August 09. I have graduated and have a job. My friend I will live with is still at Uni. What council tax will I pay. He wouldn't have to pay any right? Can I get the discount for effectively "living alone?" Thanks for the help!
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Claiming PAYE Tax from previous years
:confused: Hi I'm in a messed up confused situation which leads me to believe I've been over paying tax since back to 2000. Anyway I came across this thought because it has become evident that the job I had from Aug 2003 to Dec 2007 I have been paying too much. And I only just realized this. I suppose there is not much I…
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Tax when working abroad
I was wonderijng if anyone could help guide me? My self and my partner are moving abroad in a just under a month to Hong Kong for approximatley 2 years. We have savings that we want to add to, so that we can put a deposit down on a house in the the future [ie 2 years. time] when we return to the UK. If we earn abroad, are…
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Tax Query for Bonus Payment
Hi All, I am looking to receive a quarterly bonus of £13K payable in May this year. My understanding is that I will be taxed 40% on all of this as they will assume im on a salary of £120K+. I am currently on £22000 and do not expect any other bonuses this year, my current tax code is 575T. Could anyone tell me what sort of…
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Declare my source of income?
Here’s a slightly strange question. I have recently taken advantage of a business opportunity whereby a man I know who owns a large business wishes to dispose of regular batches of sub-standard goods – he delivers them to me, and I fix them/clean them up then sell them on eBay. It’s too small for him to bother with. The…
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Query on Self Tax???
Hello, I have a full time job where I earn 24k per year before tax. I have started looking after computer systems for a few offices on a when needed basis. I plan to charge £45 per hour but I cannot guarantee the hours I will work, if any. I have been told I will need to apply for self tax & have been looking at the HMRC…