Class 4 NI contributions.
As I'm self employed I pay Class 2 NI contributions monthly. After completing my tax return online, it then says I need to pay class 4 contributions as well. This is 9% of my profit/living wage, so I...
View ArticlePaying too much tax.
I’ve been in employment for 3 months now as an apprentice earning less than £450 a month. I have been emergency taxed on my wages for the 3rd month running roughly taxed £80 a time, give or take....
View ArticleSelf Assessment - Capital Allowance Question
Hi all, I am finally about to submit my tax return, but I have a few questions first. I'm a bit of a newb when it comes to all things SA as I only recently registered as self employed. The background:...
View ArticleWorking from home
Hi, thanks in advance for any answers. I work from home as a condition of my employment. I recently wrote to HMRC asking for the flat rate £3/week (for last tax year). They've now adjusted my tax code...
View ArticleTax Calculation
I need some advice regarding some correspondance I have received from HMRC. I have had a P800 Tax Calculation regarding tax year 2011-12. They say that I underpaid tax and are looking to collect it...
View ArticleImport duty on used goods originally bought in UK
I'm looking at importing some high value camera bits, all second hand. I know import duty is payable on used goods, but the complication here is that the goods were originally bought in the UK so VAT...
View ArticleSole Trader Self Assessment
Hi, I became Sole Trader, self employed in March 2012, not very successful trading so far, will I need to submit a SA by the 31st? I have received a letter to pay my NI class 2 contributions with an...
View ArticlePros and cons of being a higher-rate tax payer
It is possible that after April this year I will creep into the higher rate tax bracket unless I do something like up my pension contributions. Also, it is possible that from September I will no longer...
View ArticleAm I about to get rogered by HMRC?
So, leaving everything to the last minute like I have a habit of doing, I have just sat down to complete my self assessment and now discover that I don't yet have a "gateway" login or password in order...
View ArticleJoint Capital Gains Tax allowance - CFD brokerage account (investing)
Hello all, My first post on MSE.com although I have long been aware of it as a 'lurker' and know that there are some incredibly knowledgeable members on here - my name is James :beer: My question is...
View ArticleK tax code, received rebate but still K code
Hi Wondering if someone can explain this to me! I used to work full time and received a salary of approximately £30K. I then went on maternity leave in 2010 and returned to work Sept 2011 part-time....
View ArticleMinimising CGT on Two Properties
We bought our house in 1987 for £100,000 spent £125,000 in extending it and it is currently worth about £600,000. We bought our flat in 2005 for £230,000, Spent £125,000 on renovation and it is now...
View ArticleP800t
Hello Im confused and need some help with a letter I've just received from the taxman. It's about 4 sheets long and at the bottom says P800T - which has a load of calculations about payments dating...
View ArticleTax Question
Hi, I have two questions I'm wondering if anyone can help me with. I have a tax bill for 2011 to 2012 of £2234 which I will pay upfront, then I also have a 'pay in advance' tax bill for 2012 to 2013...
View ArticleTax breaks because of excessive cost living expenses.
Hi, A little bit of background, I have worked all my life, never claimed a single penny in any benefit, and always paid whatever tax was asked of me (PAYE). However my basic cost of living expenses for...
View ArticleCompany car taxcode question
Hi Hoping someone can help with my query below please? I had a company car for years and it cost me about £95 a month in tax. When I gave the car back and took the cash allowance, I expected my tax...
View ArticleTax deadline penalty
Hi, Can't find the answer to this anywhere on the HMRC website. If I pay my tax online on 31st January, will I be liable to a penalty for late payment if the payment takes 3 days to clear to HMRC?
View ArticleReducing tax
Hi Some of you lovely people helped me out with some salary/tax queries last week and it appears I am now just over the higher rate tax band. Someone suggested increasing my pension contributions to...
View ArticleChances of claiming an old tax refund?
Been sorting out my tax affairs. Had a letter from HMRC last time I asked them to check, dated 2000, which states that 97/98 and 98/99 years are fine and am due a refund for 99/2000. At that time, I...
View Article