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Related UK Tax Questions
How far back can you revise capital allowances claims
How far back can you revise capital allowances claims against self employed profits and whatis the procedure. After the revision there will be no tax due as profits are covered by personal allowances… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,305 satisfied customers
I am amending my tax returns 2016/17, 2017/18 and 2018/19 to
I am amending my tax returns 2016/17, 2017/18 and 2018/19 to reduce business expenses claimed to nil so profits higher. The reason for this is to obtain a cash grant under new seiss (currently entitle… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
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UK Tax: Self-employment loss. I started a new business 2
UK Tax: Self-employment loss. I started a new business 2 years ago. This year (year 2) I will offset self-employment loss against PAYE income. I haven't done it in year 1 although I also had a loss an… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,305 satisfied customers
I have a self-employment tax question on cessation of
Hi Tony, I have a self-employment tax question on cessation of business can you assist me please, thank you , Les… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,244 satisfied customers
I own a holiday let which started up last year. In the last
I own a holiday let which started up last year. In the last tax year, I pooled all the capital expenditure (on furniture, etc.) and used the Write-Down Allowance (WDA) of 18% which I then offset again… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,305 satisfied customers
Im doing my Limited Companys year-end accounts. We had low
I'm doing my Limited Company's year-end accounts. We had low turnover/profit in this first year. We purchased a computer in the year, so are seeking AIA tax relief. However, the value of the computer … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Hi Tony Tax, my question is on the restriction of Annual Investment
Hi Tony Tax, my question is on the restriction of Annual Investment Allowance because it is not Tax efficient to take 100% allowance. It is my understanding that the remainder goes into a pool at WDV … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
A SELF EMPLOYED INDIVIDUAL HAS PROFITS THAT ARE BELOW THE TAX
A SELF EMPLOYED INDIVIDUAL HAS PROFITS THAT ARE BELOW THE TAX AND C4 THRESHOLDS. HE HAS SPENT £2K ON NEW EQUIPMENT. CAN HE ELECT NOT TO CLAIM CAP ALLOWANCES THIS YEAR AND CARRY FORWARD FOR WRITING DOW… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,305 satisfied customers
Hi Sam, Following on from the disposals issue does the following
Hi Sam, Following on from the disposals issue does the following look right? Tax WDV b/f £77,817 AIA additions £34,688 AIA max £50k -£34,688 Allowance £34,688 Disposal proceeds MV -85,412 Balance -7,5… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,305 satisfied customers
My client ceased trading as a childminder on 22.10.2010. The
My client ceased trading as a childminder on 22.10.2010. The accounting year end is 30th.April. I would be grateful if you will let me know the final tax assessments. The profits and capital allowance… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
466 satisfied customers
Sir/Madam Good evening. I have a client who commenced self
Sir/Madam Good evening. I have a client who commenced self employment in November, 1993 and ceased trading on 30.4.2009. I am looking at claiming Overlap Profit Relief on cessation and carrying back t… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Second hand car bought in 1st December 2008 for 50294. Car
Second hand car bought in 1st December 2008 for £50294. Car Consumption about 300gm For 2010/11 tax year, what tax allowance am I entitled to? Do I get 10% on WDV with no limit ? Thanks Bing… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,305 satisfied customers
Ok we have covered most things now and I filled in my UK self-assessment
Ok we have covered most things now and I filled in my UK self-assessment but the calculated amount for repayment seems lower than I expected ( £863 ). I would like to know if this is expected, or I ha… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,305 satisfied customers
I am self employed and have a profit of for tax year 09/10
I am self employed and have a profit of for tax year 09/10 £4000 (before capital allowances and personal allowance) so will pay no tax. I have £3000 of capital expenditure eligible for AIA. Can I choo… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Hello there, I am a bit confused regarding the annual investment
Hello there, I am a bit confused regarding the annual investment allowance for small businesses. I am in the middle of doing my tax return for 09/10.I have been self employed for few years.Acquired a … read more
Sam
Sam
Accountant
Higher Officer HMRC
15,305 satisfied customers
My client is a sole trader and has not made enough profit to
My client is a sole trader and has not made enough profit to utilise all his capital allowances. Can I carry them forward? Sorry - phrased badly! EG. Profit £6600, Capital Allowances £2600 (net £4000,… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,305 satisfied customers
CAPITAL ALLOWANCES 31/05/2009 WDV Additions Disposals B/Charge B/
CAPITAL ALLOWANCES 31/05/2009 WDV Additions Disposals B/Charge B/Allowance Cap.Allowance WDV C/F £ £ £ £ £ £ General Pool 382.5 4240 - - - Motor Vehicles 843.75 0 - - - ________ _______ ________ _____… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,305 satisfied customers
I have previous years losses from buy to let, which i understand
I have previous years losses from buy to let, which i understand i can carry forward to future years against buy to let profits (but not other profits from my work). I have two lodgers at the moment, … read more
Sam
Sam
Accountant
Higher Officer HMRC
15,305 satisfied customers
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