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Do you have to pay any other taxes on a property after IHT is paid?
If a house is left to someone in a will and then inheritance tax is paid on that house because it is worth say £600,000. Do you; a) have to pay any other taxes after you have paid IHT on the house if you then sell the house and b) what happens if you sell the house for less than the valuation you have submitted for IHT…
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Capital Gains Tax Assistance Please?
Hi There I unfortunately (or fortunately i sold it at all in the current climate) didn't manage to sell the house i was renting out till after the April 5th deadline so i'm in the 18% CGT boat. However we did live in the house from May 1994 (when we bought it) till Dec 1999 as our only property before then starting to rent…
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Tax refund 2007/08
Hi, I submitted a paper return last october but havent heard, I phoned to chase it but was told although it should have been actioned by now, they had a delay, they owe me a refund as I have been and am still paying emergency tax. How can I speed them up. They say my return is sat in a pile in edinburgh and cannot be…
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being charged vat twice for my van?!!!
hi, just over 2 years ago a friend if mine leased a brand new van, after two years i took over and the van was transfered by the broker in to my company name in a hire purchase agreement. the deal was £300.00+vat pm for 27 months and a balloon payment of £4800.00inc vat, iv rang the broker to confirm my balloon and came…
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Can I claim additional relief for a pension that my compnay contributes towards?
Apologies if this has been answered elsewhere - I did a quick search but couldn't find anything. I am a higher rate taxpayer and have a pension scheme with Standard Life. Each month I pay 5% of my Gross salary into the scheme and my company pays an additional 10%. I've claimed the additional relief on the 5% but not sure…
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Wrong NI number on payslip & Wrong Tax Code
Please excuse me if I have posted this in the wrong topic! I been in a job for 12 months and just noticed that my national insurance on my payslip is incorrect! Although my money has been goin out to the incorrect number each month and I have not received any notices of non payment to my own National insurance, How do I…
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Self Assesment? Is it needed?
Ok, first of all apologies if this has been posted and answered already, but I couldn't find it. Here is my situtation... I am living overseas and for the last 6 months have been renting my flat back in the UK. I'm aware I need to fill out a self assesment return. But i'm having problems because It prompts me for my Unique…
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Who do you tell when you stop being self-employed?
Hi, I was self-employed but am now not. Is there some set procedure for 'un-registering' as self-employed? Or do I just keep on filling in self-assessment returns saying I have no tax to pay forever? Thanks
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Tax Return. Working Online. Paypal Account. $s and £s
This bit is doing my head in :) I have a paypal account. Dribs and drabs of income drop into it, in $s and in £s. Occasionally I buy things, in $s and in £s and if they take paypal, then that's how I pay. Throughout the year, if I spot Paypal has quite a few quid in it, I'll click to transfer that to my bank account. There…
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Professional subscriptions
I did a search and found this thread which is a few years old http://forums.moneysavingexpert.com/showthread.html?t=94340&highlight=professional+subs I just wanted to ask is this information still current? I was told yesterday that I can no longer claim tax back on professional subscriptions myself, but that if my employer…
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Using debts to avoid tax
There's an interesting feature in The Guardian today on corporate tax avoidance ("Firms' secret tax avoidance schemes cost UK billions", http://www.guardian.co.uk/business/2009/feb/02/tax-gap-avoidance). I'm wondering if and how any of the schemes these huge firms use could be employed by individuals too. This one seems…
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will i have to pay cgt
im in a works sharesave scheme. ive been in them before but without making any money (apart from what i,ve paid in) this time it looks like i,ll make a decent profit. after £9000 invested it may return £25000 ish however i think i will have to pay cgt. how much will i have to pay? can i use my partners cgt entitlement.…
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Online filing success
There has been a big increase in online filing this year. Mortgage Introducer "A total of 5,759,006 people filed online by the 31 January deadline - an increase of over 50% on the 2008 total, when 3.8m people filed online." 2/3 of the returns received were online. I had wondered if the need to pre-register with them might…
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Can I get a tax refund?
I work part time whilst at university and last August swapped jobs, at which point I lost my P45 in the post. I am currently being taxed and not on an emergency rate so I think I must have filled in a P46 when I started the new job but basically I am paying at least 20% every month and if I have earnt over my threshold it…
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National Insurance - Cheeky Blighters!
Morning all. This morning I had a bill from the N.I. people for £232. Now seeing as I am expecting a rebate for 2 years over payment of self employed N.I. I was a bit perplexed. It had the usual warnings about if I didn't pay this it may affect my pension etc and I should pay by the 26th January. So on the blower I got and…
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Living in Jersey, some UK earnings
Hi my husband is interviewing for a job in Jersey. If we moved there, it would be for a few years. I might be able to work there but if not, would keep doing some freelance lecturing work here in the UK - up to 18 days a year or so. We would also have our house here rented out. We would not be in the UK more than a couple…
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I have two tax codes I think I'm paying too much.Can anybody help????
Hello, I've got two jobs. One I work 19 hours the other I work 9 hours. My tax code for 2009/10 for my main job is 653L. The tax code for my other job is OT and nat ins code A. I will nearly earn the threshold of 6453 on my main job and only earn approx £3000 on my other job it seems that I wont be paying much if any on my…
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Anyone else having to trouble using self assessment today?
Hi, I can get as far as 'any other information' on fill in your return and no further. Anyone else getting problems? I can't get through on their phone line either which leads me to suspect their systems have collapsed again. Nothing about it in the media yet though.
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Urgent tax advice needed re redundancy, anyone please?
Hi everyone We are panicking slightly as my dad is currently being pressured to decide whether or not to take voluntary redundancy. We are worried as he is 60, and mum and dad are in quite a lot of debt, and so we need to make sure that they make the right decision. We have had all sorts of info on the tax issue, we are…
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Tax and partnership - stopping trading
I would be grateful for some advice on tax years. Our partnership tax year ends on 30 April. We have just paid are underpayment of tax for tax year 2007_2008, based on accounts for trading year May 2006 to April 2007. We also paid advance amount for next year and will pay another instalment in July. What I can't understand…