exceeding basic rate tax threshold
Hi all, My basic annual gross pay is within the banding for 20% income tax. However, due to overtime I'm on the verge of going over the threshold. If I do, will my paye next year be based on my basic...
View ArticleNational Insuracne Calculation
Not sure if I'm posting in the right place here as my query is about National Insurance not Income Tax? Anyway... During this tax year I was on leave from work, but still employed, where all salaries...
View ArticleCan someone explain the 10% starting rate for savings income
If an individual has only savings income, am I right in thinking that he is entitled to a further £2,790 in addition to the personal allowance? So they could have £12,230 in savings income before...
View ArticleProfessional Gambler - Submit Tax Assessments?
I'm approaching the 2 year mark since I became a professional poker player, over this period I have made an effort to cash out a good amount each month, to make it look as steady and consistent as a...
View ArticleTax Code 0T Mth 1 - How Does It Work?
I'm no longer a UK taxpayer but am receiving a lump sum in connection with my previous employment, some of which is being paid in the UK. Payroll says they have to apply a "0T Mth 1" code which I...
View ArticleNew Laptop/Tax
I am a self employed cleaner and I also rent out a property. I purchased a new laptop in July 2013. How much of the cost, can I set against tax?
View ArticleTax Code Correction
My daughter recently started a new job but her first payslip a the end of Feb shows her tax code as 500T. This is due to her previous employment where HMRC believed she had 2 jobs - which she didn't...
View ArticleSelf Assesment - underpaid tax
I am completing a Self Assesment for my FIL who is renting out a flat he owns while he lives elsewhere. This is for the tax year 2012-2013, but because we declared early enough we have until mid April...
View ArticleWhat PAYE Amount To Use From April 2014?
Hi guys, and let me say thank you upfront for any advice you can give. I was self-employed and then incorporated a couple of years ago. Up to this point I had my accountant doing everything. Since...
View ArticleReclaiming NI - confused!
Hi there, not sure if this is in the right part of the forums or not, but it looked like the most likely place to put this... Basically, I am very confused about claiming back my national insurance...
View ArticleKeeping out of the 40% tax bracket
My wife and I are currently in the process of buying a BTL property but the income will take us straight in the 40% bracket. I have been reading up on 2 ways of getting tax relief which are below: 1....
View ArticleSelf Employed + R85 Savings Interest/Tax.
if someone is not working, a housewife/homemaker and have their savings receiving interest GROSS via the R85 form what should they do if they go Self Employed? 1. if they are expecting total profits...
View ArticleAccountant for Sole Trader in Glasgow?
I have a small business as a sole trader. Could anyone recommend an accountant to do my tax return, based in Glasgow? Ideally in the area from the city centre to Clydebank? Thanks Charlotte
View ArticleNew to CGT on Rental Property Sale
Hi Folks, Me and my wife have two rental properties that we are looking to sell, both were our homes for a period of time. The figures are below: Property 1: Bought in 1994 for £44K as our main...
View ArticleHelp with tax rebate
Hi I've already completed a letter for my husband to claim for washing his uniform but I wanted help for a claim about my dad. He is a wagon driver and spends 4/5 nights out a week and was told by a...
View ArticleCar allowance claim from HMRC
Evening, this relates to getting the most out of my car allowance plan and I'm not sure my employer is calculating it correctly and then the right I have to claim any difference via HMRC. Can I ask for...
View ArticleDeeds
I am married and our mortgage is paid,currently we are joint owners on the deeds.What are the benefits and draw backs of registering as separate half owners,and what would the approximate cost to do...
View ArticleEmployer suggesting not declaring wages for tax
Sorry for some of the vagueness, but we don't have have all the details, I just want to get some things clear in my head before we speak to my wife's boss. My wife started a new job as a hairdresser in...
View ArticleOverpaid tax
I received 2 months salary in one monthly wage as a result i overpaid tax this happened as when i started work i missed the payroll cut off by 2 days so was paid for 8 weeks wage together. Will the...
View ArticleReducing CGT liability on second home sale
Hi, My parents bought a BTL property 20 years ago which they have rented out throughout this period and now wish to sell. They bought it for £40k and it is worth around £130k now. They've never lived...
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