February 7, 2019, 7:29 am
HMRC have issue me a tax refund but it has gone through a company called ONLINE TAX REBATES LTD which charges a cheque processing fee + additional charges to the sum of £100+
Now they don't have a contact no so I have emailed them to request that I be removed/unregistered and go back to having my cheques directly from the HMRC but they have responded with:
"we can raise the paperwork to lift the deed of the assignment over the previous claim for an admin fee of £50 payable by cheque ONLINE TAX REBATES LTD"
which I still don't quite understand, do I pay £50 to leave or do I pay £50 to have this particular cheque re-issued by the HMRC?
All I want is to be removed/leave this company entirely and completely, please help..
Thanks
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February 7, 2019, 8:52 am
Hi there,
I've been self employed for a number of years and usually earn just below the personal allowance threshold. However, my earnings have taken a hit this last tax year (I estimate I'll earn around £5,000 by April) so I've started working as a casual in a warehouse. I'm picking up about £100 a week from this, so even when combined with my self employed earnings I won't exceed the PA. However, I've been placed on the 0T tax code, meaning I'm paying 20% tax on this employed income. Should I contact HMRC and try to get this changed? Or should I wait until I file my tax return at the end of this tax year, when I'm assuming (perhaps wrongly?) that HMRC will realise I've overpaid and refund me?
Thanks in advance guys!
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February 7, 2019, 12:43 pm
I'm currently filling in an online probate form and I'm a bit confused about the "gift" section. I understand that £3000 can be gifted without affecting the total allowable before tax but is that a total of all gifts to several people per tax year or is it per gift per year?
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February 7, 2019, 12:52 pm
I filled in the form for this, some time ago. I did it on line but never heard anything.
At the time, my husband had retired and got a works pension, with no tax taken off. I worked part time but I earned too little to pay tax. We did pay tax on some of our savings interest. Not a great deal though.
My husband has been in receipt of State Pension for the past 8 months. Up until the beginning of January, I was still working but have left work to retire, due to health reasons. I have a small pension from one of my past employers but will not get state pension for just over two years.
Neither of us pay tax but with the new tax on savings rules, we do not pay any tax on savings interest.
Is it worth me chasing up this married persons tax allowance as I have never had my application acknowledged, and not sure if I need to bother, now.
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February 8, 2019, 1:59 am
I applied for the Marriage Tax allowance, hubby earns between 10,500 and year and 11,000 a year. We both have several P800's through the post. I had a cheque for 650 pounds but hubby has had a bill for unpaid tax of 1100. I'm so confused as what to do. They say he'll have to pay 8.69 a month tax but how can this low amount cover his debt? He's very angry and worried as he suffers with stress about money. They've sent 4 different statements saying he owes 200 in 2015, 400 in 2016, 500 in 2017. So we are worse off than before. Not sure where to go from here, just wish I'd never applied for the stupid marriage allowance. Is it possible to give them the 650 back and go back to being on my old tax code.
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February 8, 2019, 7:54 am
Hello. At a loss with this as HMRC haven't really done a very good job at explaining this to me, basically just saying its complicated you best speak to your accountant or agent.
I put in work expenses of just over £6,000 in October 2018. Because of this my tax code changed and my tax free allowance rose by £6,000, meaning I paid less tax than I should have. They are saying I owe this back and it will be paid by lowering my tax free allowance next year, meaning I pay more tax.
The thing is, in the same month that my tax code changed, I also received a bonus for £5,000. Now do you think that they are factoring this bonus in when they have calculated the amount of tax I owe? I ask because they are saying I owe quite a lot (they say I underpaid by £740 in 2 months).
Thanks.
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February 8, 2019, 1:20 pm
Hi,
My employer has wrongly used the tax code BR instead of 1150L for a few months. At least 1000 pound was paid as extra tax due to this. When I submit my tax return next year will i get this money back please?
Regards,
Rakhesh Rajan
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February 8, 2019, 1:51 pm
hi all
Currently i am working part time and wage before tax MONTHLY is £838
So i want to get another part time job
This job pays weekly @ £150
So how much will i get taxed? How will it work?
My tax code is 1210m at the moment
Thanks
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February 9, 2019, 5:13 am
We had a joint family car then I started a new job which pays a car allowance. Through this I have had to lease a car for my job as based from home I am travelling across the region. I have been told as i am leasing the car privately but solely for work I should claim the VAT back on my monthly payments.
Can I do this and if so how do I do it?
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February 9, 2019, 5:48 am
Hi, I keep hearing different things from different sources (although I'm yet to speak to a professional tax adviser) but if you literally make your living from gambling, whether it be slot machines, poker or forex (spread betting), do you not have to pay any form of tax whatsoever?
Some say if you do it for a living you "might" have to pay CGT, others say if you're self employed you may have to pay income tax. Others say there's no legal obligation to even declare your winnings at all so tax doesn't even come into it.
If you register as self employed do you then have to pay tax? If not then what employment status do professional gamblers assign themselves? Are they legally unemployed?
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February 9, 2019, 6:59 am
I have a very straight forward PAYE type tax account. This is my first year where savings tax hasn't been been deducted at source and I've received a tax demand.
What is generally deemed best. Paying the amount using my Personal Tax Account or allowing IR to adjust my code for 19/20.
If I wanted to pay the money direct. How much time do I have before IR make the change to my 19/20 coding.
Obviously I'd want to avoid paying it twice. Is there a cut off date?
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February 9, 2019, 8:27 am
Trying to work the numbers for renting out my property if I go on expat assignment in ~1 year from now.. Assuming I keep my current repayment mortgage the same (obviously subject to the lender granting CTL), and assuming I use a lettings agency to find tenants and manage the property. Have read the HMRC pages on rental income, and just wanted to check my calculation was correct.
Assuming rent of 1400/month = 16,800/year
Assuming the following costs for me:
Monthly mortgage repayment: 1535, of which ~400 is interest -> 4800/year
Service charge: 200/quarter = 800/year
Landlords insurance (estimated): 200/year
Gas checks / certificates (estimated): 75/year
Property management fees (estimated 15% of rent): 2520/year
I pay higher-rate tax, and for simplicity let's assume I will start renting out from April 2020. My calculation for rental income tax is as follows:
(16,800-800-200-75-2520)*0.4 - 4800*0.2 = 4322
Yes, I know the 4800 of interest is not exact as interest will go down progressively each month.. And obviously this assumes there are no periods of vacancies, and no maintenance charges included in case the tenants break something (or boiler breaks down..). But, is the formula I'm using above correct for estimating my annual tax due on the rental income?
Thanks
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February 9, 2019, 12:12 pm
HMRC:
"Banks don't inform us of interest anymore. They stopped that in 2015."
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February 10, 2019, 12:01 am
Whats the most tax efficient way to treat overseas earnings if still domiciled in the UK ?
My understanding is its subject to normal UK tax rules regardless of the country its earned in, the country of the bank account its paid into or the currency its paid in - is that correct ?
So the way to have the smallest tax bill is a UK limited company , small salary and dividend ?
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February 10, 2019, 2:31 am
Need some up to date (simplified please) advice on tax. My son has regular job and income PAYE and does some freelance work as well. So far it has only been a few hundred pounds a year (approx£500-£700). he would like to grow this work in the next year and was asking me what he needs to do about tax. The freelance pay is just paid into his bank. I have read somewhere that you can earn upto £1000 without registering for self assessment. Is this correct? Would it be good advice to tell him to wait until the end of the tax year (2020) then see how much he has earned or should he do something now? Not sure what to tell him so advice is welcome.
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February 10, 2019, 6:23 am
Im looking at starting up a partnership and looking for recommendations on a decent accountant with reasonable fees.
Im based in Motherwell so anywhere in central scotland, Glasgow, Edinburgh etc will be OK.
Few of my friends are sole traders and they dont pay much for their self assessment to be done each year as their accountants basically take the info they provide and fill it in on the tax return. Im looking for an accountant that will take a bit more time and advise me anything that I have missed that I could claim for.
Additionally I have a few questions that I need to ask the in regards to AIA before setting up.
Thanks in advance.
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February 10, 2019, 8:50 am
Hello,
I received a notification that my tax code is changing because of underpaid savings interest in the previous 2017/18 tax year.
HMRC state that I had approx £800 of total savings income and are charging me tax of 20% on about £300 of this.
I'm a bit confused as my overall pay for the year meant that I just avoided the 40% tax bracket and so I was expecting a £1000 personal savings allowance. However some months I think I may have paid 40% tax as my pay is not in equal instalments.
If I've miscalculated, I'd have expected the savings tax to be at 40%, rather than 20%?
Can anyone shed some light on this? The obvious solution would be to contact HMRC but getting them on the phone or webchat seems to be quite a challenge.
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February 10, 2019, 9:36 am
I seem to remember using this to register for my first payment of State Pension and received User ID and activation code. I obviously set up a password as I have a record.
I similarly set up a GG account for my wife in anticipation of her receiving SP.
However I am able to log into her account but not mine. No explanation is given except maybe wrong P/W, Wrong ID or number of failed attempts.
I have given it the recommended 2 hours before reattempting, but still no joy.
Is it worth reregistering (if I can) for another ID etc or jump straight to the alternative "Verify" way of logging into my tax account.
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February 11, 2019, 3:54 am
My son works for an agency and there are periods when he is not working. He gets more than 1k interests from his savings. In this case am just wondering whether it will be better for him at the end of the tax year to pay the amount he owes in income in full. Is this possible and dies he go about it. Thanks
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February 11, 2019, 4:01 am
Good afternoon
Hope you can help me with a question about PAYE tax.
I am about to finish the tax year having had a pretty bad year for earnings, well below the 40% threshold but I have just done a deal at work that is going to mean about £15000 in commission coming in which is amazing and very much needed. My concern is that it is unlikely to come in March pay packet and therefore fall at the beginning of the new tax year.
If it could come in March I thought that i might be taxed more leniently as it still would unlikely take me into the 40% bracket and would hope I wouldn't lost too much of it.
If it comes in April, will I be taxed a large amount and then have to wait until the next tax year to potentially receive a rebate for PAYE assuming I am going to be earning a fortune next year?
My tax code recently changed to one that supposedly looks at each payslip as it comes because my pay varies month to month, could that mean a rebate the following month automatically or just less tax charged to level things out?
Any help would be greatly appreciated as this is concerning me as I have things coming up this next year that the month can really help with.
Kind regards
Lee
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