I owe the taxman, question
Hi, Long story short, in December 2013 I left an employer and started another job. I had handed in a resignation letter to my previous employer clearly stating I was leaving on a specific date and...
View ArticleCan I gift from Mum if I have court of protection
I had to go through the court of protection when my Mum had Alzheimers as she didn't set up a power of attorney. Could I gift her grandchildren with some money or am I not allowed to do that?
View ArticleCar tax question switching from company car to allowance
Hi, I've had a company car for over 8 years now, but have since reduced my annual mileage from 25K+ to about 8K a year so opted for a car allowance instead. On my first payslip with Car Allowance i...
View ArticleSole Trader v Limited Company
Having being a sole shareholder & director in a limited company for the last 10 years, I have decided to go it as a sole trader. The tax calculators all tell me that I can save thousands by being...
View ArticleInheritance tax - transferring titles on bank accounts
My elderly mother wants to transfer a euro account she has abroad into my name to minimise inheritance tax when the time comes. Is this ok to do? Are there any implications to doing this? will I have...
View Articleavoiding inheritance tax by buying house before parents death??
ok, just had a very weird conversation with a lady at my local childrens centre. I was discussing my personal situation with a member of staff there a t the baby group and was discussing my savings and...
View ArticleAny Tax for Parents transferring money
Hi, My Mum is wanting to transfer me and my brother some money as a gift to us both, in the region of £30k. She isn't wanting to lose any of it through tax. Is it simply a case of her doing a bank...
View ArticleCan I repatriate funds to UK without incurring tax
Hello, I recently sold a property and want to bring the funds to the UK. How can I avoid the tax please. The money is sitting with a broker. I am hoping to buy a flat for myself in the UK and also pay...
View ArticleSelf Assessment and Capital Gains/Losses
Hi all, sorry if this is a rather basic question, but I have been searching the forums and the web for an answer and can't seem to find it. I am filling out a tax self-assessment form online, as I have...
View ArticleA question of Inheritance tax, when have a insurance policy
I'm trying to understand IHT and how Life insurance payout affects this. 1) One simple question - if married, when one person dies, does everything (all assets, money etc) automatically transfer to...
View ArticleFlat rate scheme and end of year accounts?
Hope I've posted in correct forum. I need a little advice on my end of year accounts. In my 1st year of FRS. My accountant has put my gross earnings down including VAT charged. I then have my list of...
View ArticleIncome Tax ... PLEASE HELP.
Had a knock at the door from a scary guy from DMB who gave me a letter saying my OH has to pay HMRC £6,271 in full asap or there will be court action. His business has not been going well so he hasn't...
View ArticlePart time income
Hi all (sorry if this is in the wrong place), To sum up: me and my gf work full time. We've started selling teaching resources to educators in America. So far its not a huge amount per month (amount so...
View ArticleSelf employment - tax
Hi I am setting up as self employed to undertake data analysis projects for one client at the moment. I was self employed in 2006 but have not had to complete a tax return for a few years as it was a...
View ArticleInterest free loan from employer
Hi, I've had a job offer where I am offered an interest free loan (£5000) as I will not receive a company car / car allowance. I cannot work out the tax situation after reading the HMRC website and a...
View ArticleNew Tax code & P45's
About a month ago I started a new job (via an Agency). As a result, I contacted the Agency I last worked for and asked to be taken off their books. They sent me a P45 which I have passed on to my new...
View Articleclaiming travel and lunch money?
Hi I've just started employment with an agency and during induction they asked us to sign a form that gives us tax back when we claim for lunch and travel expenses. I didn't quite understand it, but he...
View ArticleTrying to assess tax position
I had a payrise this year which took my gross salary to 43.5K. I had not realised until recently that I needed to start thinking about higher rate taxpayer issues! I believe the current threshold...
View Articlecompany car/BIK & tax code
anyone know how company car tax works for a salary sacrifice scheme? last year I took out a company car through my employer on a salary sacrifice scheme, for which I lose £318pm from my gross income to...
View ArticleTax on benefits-in-kind for a part-year
When my husband was working, he received medical insurance as a company benefit and was taxed in full via his code. Now that he has retired (end July), the benefit ceased automatically and it was my...
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