inheritance tax query
Long story short, we are hoping to jump back into the housing market later this year. My father, who is soon to be 77, has just told us that they would like to give us some money towards the deposit -...
View ArticleSelf-employed: postage & mileage
I'm registered as Sole-Trader and have 4 different sources of Income. But I also have 'other' income from selling the occasional book or DVD on Amazon (I do not have 'Amazon merchant account' , only an...
View ArticlePension question
Im not sure if this question will even make sense but here goes!! I generally get the same amount of wages every month but this month, I got about £125 less. The only thing that is different is that I...
View ArticlePenalty Fine
I registered as self employed under a tax amnesty program in September. Just to clarify, i wasn't avoiding registering/paying tax - i only earn a couple of thousand a year from self employment anyway -...
View Articletax investigation Fees
After having gone through a long and expensive " enquiry" which resulted in nothing found and case closed. I have inccured a high cost from my accountant for fronting this enquiry. I have been informed...
View ArticleFirst tax return
I have to do my first tax return this year as I have moved from an flat into a house and now rent out the flat (during tax year 11/12). My wife and I are basic rate tax payers. The mortgage for the...
View ArticleImport VAT on gifts?
Not sure if anyone can help with this one-- My family live in the States and sent over two parcels for us in the last week or so. One was a couple of old mobile phones for the kids to use and the other...
View ArticleCan I claim tax relief on an interest only mortgage?
Help! Filling out my self assessment and am tying myself in knots............where it asks "loan interest and other financial costs" can I put my interest only mortgage in there? I haven't received a...
View ArticlePay tax on savings but not on rental income
Hello My only taxable income is about £10k per year on savings interest and £4k per year rental income. I have always paid 20% tax on the savings interest even when the amount of interest I was earning...
View ArticleSelf Assessment - dodgy past employer leave me with a dilema
Hi all, I hope someone advise me of how I should deal with this issue: Just filing my return and it seems one of my PAYE employers has submitted some rather strange figures about how much I was paid. I...
View ArticleUK Tax Back for Backpacker
Hi, I was wondering if anyone had any knowledge on claiming back tax due to not making the threshold while the taxpayer was absent from the UK i.e Working Holiday 417 Visa in Australia. I working in...
View ArticleTax/NI/Student loan on 2nd job
Hi all, First post so please be nice! I've tried to search this before posting but getting too many results to see an answer to my question. I've got a main income of 33k and on top of this I'm about...
View ArticleSA Tax Return - Payment Advice Please!
Hi all. I submitted my SA tax return on 8th January and this was the first year since I started my P/T self-employed business that I have made a profit (yay!), however it also means that i now have a...
View ArticleWhen to Register
Hope somebody can help. My OH is employed, I'm a SAHM receiving CB. In tax year 2012-2013 he will not earn over £50k, but in tax year 2013-2014 he might (through extra overtime to pay off debts). I...
View ArticleDo I need to do a tax return application?
I'm currently employed and pay tax through PAYE. I've recently fallen into the higher rate tax band. I understand that I would need to now declare the interest earned in savings accounts (non-ISA) and...
View ArticleProfessional networking expenses
I wonder if anyone can clarify this. It is my understanding that the self employed cannot claim expenses for coffee/lunch for a client or colleague they are meeting - or even for themselves at such a...
View ArticleNew business, when is tax return due?
Hi, I started a business in May 2012, do i need to do a tax return before the end of Jan 2013??
View ArticleVat margin scheme & self assessment
Hello I am a sole trader dealing in antiques. I am vat registered using the margin scheme. Therefore I don't charge my customers vat, but I pay HMRC 20% of the profit I make on each item I sell. My...
View ArticleTax on rental income issues
Hey people, This is my first post on this forum, but I hope you can help. I own a one bedroom flat that I have an outstanding mortgage on. I don't own any other property and live with my wife and kids...
View ArticleOwe tax?
I've just got home to find a letter from hmrc with my tax code for the next year, dramatically reduced stating I owe the best part of £509 in tax! I've been in full time employment for the past 2 years...
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