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I am the sole director and shareholder of a company, in addition
I am the sole director and shareholder of a company, in addition I have a full-time job through which I am taxed under PAYE. How should I account for drawings I may take from the company? I do the boo… read more
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Does a 40% tax payer, who is PAYE, have to inform HMRC (or
Does a 40% tax payer, who is PAYE, have to inform HMRC (or automatically have to fill out a self assessment tax form) if they receive any interest from a bank or building society savings account, wher… read more
Tony Tax
Tony Tax
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I earn 50K in PAYE job, also do self employed work for which
I earn 50K in PAYE job, also do self employed work for which I usually only earn about £1500 per year. I pay the tax for this through my self assessment. For 13/14 I'll earn about £10 self employed. W… read more
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Tony Tax
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Hi Tony, You helped me in Mar 2012 with a self assessment
Hi Tony, You helped me in Mar 2012 with a self assessment query. I now have a similar query in completing my 2011/12 tax return. I don't understand why the tax calculated is higher than expected. In M… read more
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I am planning on renting out my first property as I have now
I am renting out my first property as I have now bought a new one. What do I need to do in order to declare the right amount to the tax man for the rent I receive. Also what can I offset such as maint… read more
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I earn around £40k gross and pay tax via PAYE on this. I have
I earn around £40k gross and pay tax via PAYE on this. I have recently started to rent out a property. The rent is £475 per month. My monthly mortgage repayments are £355.00. How do I go about arrangi… read more
Tony Tax
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hello, I have a couple of questions re: tax a) Why is
hello, I have a couple of questions re: tax a) Why is the basic rate extended (due to pension relief) on Self Assesment calculations but not on PAYE system of collecting tax? b) My tax code for 12/13 … read more
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Hi. I am a higher rate taxpayer, paying 40% on the top slice
Hi. I am a higher rate taxpayer, paying 40% on the top slice of my salary. I also have a 50% share in a let property. Up to now, rental income has been offset v. costs and interest, but the interest l… read more
Tony Tax
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Is dividend and pension income treated the same as normal income
Is dividend and pension income treated the same as normal income earned in the tax computation? ie is it lumped together with all types of income to get total income? before expenses are deducted and … read more
taxadvisor.uk
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after completing my tax spreadsheet for 2010-11 (Ist company
I have started my company Jan 2011, I worked as locum hospital doctor, after completing my tax spreadsheet for 2010-11 (Ist company year) still I have £45000 of bank transfers other than expenses, sal… read more
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hello. if a director is the only employee of a private ltd
hello. if a director is the only employee of a private ltd company. what tax does he pay. does he pay corporation tax on his profits (disallowing his drawings) or should he pay income tax on his drawi… read more
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I would like to check if I owe further tax on some shares I
I would like to check if I owe further tax on some shares I got through an LTIP. I am a 40% tax rate payer. I was given 11949 shares with a value of £64215.68 and immediately sold them in the tax year… read more
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I have been working on a self employed basis for the past ten
I have been working on a self employed basis for the past ten months and now have to complete my first sex assessment tax return. I also have a property with a tenant and receive rent payments. I know… read more
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We are purchasing a buy to let property, have to buy in joint
We are purchasing a buy to let property, have to buy in joint names as one of us has to have salary above 25k. I am higher rate tax payer 47k, husband lower 14k. Is there any way of declaring income i… read more
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Our staff salaries decreased in 2008 (compared to 2007) but
Our staff salaries decreased in 2008 (compared to 2007) but the expenses for PAYE & National Insurance is increased, please can you help to find out the reason. Thanks.… read more
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Hi, I am considering buying a second home to use partly
Hi, I am considering buying a second home to use partly as a holiday place for myself, family and friends but also to rent out to 3rd parties for holidays during the year. To buy the property i am goi… read more
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Hi I am a director of a limited company - sole trader - basic
Hi I am a director of a limited company - sole trader - basic rate tax payer. I pay myself the minimum wage as a PAYE salary, and the remainder of my income as dividends. Never above £40,000 p.a. in t… read more
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1. Disclosure requirements for taxable income 2. Penalties
1. Disclosure requirements for taxable income 2. Penalties for not disclosing taxable profits 3. The treatment of illegal profits 4. The taxation of property income 5. The responsibilities of employer… read more
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