When to fill in R85?
Good morning all, From April my wife will be entitled to tax free savings due to the new £5000 savings allowance. The new R85 form is available on HMRCs website. My question is can she fill this in now...
View ArticleTax relief on pension contribution for higher rate pensioners
A question that's come up on the Pensions board. A higher rate taxpayer through pension income, savings etc so no earned income so can only pay £3600 gross into a RAS scheme. Basic rate tax relief is...
View ArticleCapital gains tax on selling UK house after move to Canada
Looking for some help here for my son who is currently filling in his Canadian tax return and will be doing his UK tax return after the end of the tax year. He moved to Canada in October 2012 and...
View ArticleRental Property - Income tax
Hi all If property is in jointed names (after probate - 60% ,40% or 50% each) And wish to rent the property out does the rental income have to be both names or one person could have income in sole name...
View ArticleWould a small earnings exception be dangerous for me?
I have a normal 9-5 job and am also self employed. The latter is mostly a paid hobby and I typically earn less than £2000 a year from it. I was thinking of appllying for a small earnings exception for...
View ArticleGoing self employed after redundancy - would a Van or Stock help?
I'm being made redundant at the end of May with a gross payout of approx 70k and I'm wondering what options I have. I'm most probably going to become self employed, primary business will be teaching...
View ArticleSilly question about my Personal Allowance?
Just reading an old letter from HMRC about my 2015/16 Tax Code (1060L) and I understand that my tax-free personal allowance is £10,600 but it also says something along the lines of "We normally split...
View ArticleInheritance tax exemption for spouses
I read the following sentence in the Times Money section on Saturday: "Unlike money in ordinary savings, money in cash ISAs is not subject to inheritance tax when passed on to a spouse" Is this just...
View ArticleClass 2 NICs and breaching the Small Earnings limit
This is not "cutting tax" but I got no responses on the small businesses section of the forum so I thought I'd try here. I started as a freelancer late last year and my forecasts showed that I'd be...
View ArticleTax code
Looking for some tax advice please....please bear with me :0) .....hubby's tax code is 680L and has been since last May 2014. He started his new job Dec 2012 and Tax code was 825L then Feb 13 it...
View ArticleMileage Allowance Relief - Any knock on's to be aware of?
Hi all, Last year I opted out of a company car and got my own car, I get an allowance and get paid an agreed pence per mile for business trips. This PPM is below the HMRC rates and I am aware that you...
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Eliminate council tax for good!! 'Evidence' inside
Currently there is no 'law' requiring any of us to pay council tax (The Local Government Finance Act, 1992 is based upon consensual agreement and falls under the remit of contracts). After looking into...
View ArticleTax code and self employment help please !
Hi I'm hoping someone might be able to give me some advice please. I've tried HMRC and they passed me around with no final answer. I'm currently self employed earning 15k a year. I complete my self...
View ArticleCapital Gains Tax on transfer of property
Hi. Just a quick question. I own my own home. As of yesterday it is worth £125,000. I paid £115,000 for it 5 years ago. I don't plan on selling, but my partner of a few years has moved in and we are...
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MSE News: Got an annexe? Check if you're due a council tax discount
More than 2,400 homes have claimed a council tax discount for having a self-contained 'granny flat', can you? ... Read the full story: Got an annexe? Check if you're due a council tax discount Click...
View ArticleHMRC Repayments
Mr Fallen has not been earning much of late, so wary of not having enough money to pay his tax (he's self employed), he sat down and worked out what he THOUGHT his tax bill would be, and then made...
View Articletax repayment from hmrc
Hi my husband works in construction and pays 20peecent at source he is due a refund and the credit shows on his online tax account ut has been six weeks and still no refund. all the previous years have...
View ArticleCan I gift my gf her ISA allowance?
Can I give my girlfriend £15k to put in an ISA and fill her allowance? There's no obligation for her to pay me back some day, but she may. I googled and it seems to be fine if you are married, but we...
View ArticleTax rebate - Commission
Hi, any help is greatly appreciated. I work in a commission based environment. As such my monthly pay can vary greatly from month to month. My commission to be paid in April has been calculated to be a...
View ArticleInheritance tax on lifetime gift
Friends of mine, gave their daughter a gift of £150,000 five years ago to buy a property that was registered in their daughter's name. The wife has recently been diagnosed with a potentially life...
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