lovemoney.com - Q&A - Tax http://www.lovemoney.com Tax questions from Q&A on lovemoney.com en-gb Copyright 2008-2013 lovemoney.com. All rights reserved. http://www.lovemoney.com/Images/Global/HeaderLogoOnWhite.gif lovemoney.com http://www.lovemoney.com 300 50 <![CDATA[My daughter worked for a company from Aug 2012 till Jan 2013. They employed her on a Self Employed status. Does she have to submit a tax return.]]> She earned £4,700 does this mean she has to pay tax on it?

Many thanks

Martin

]]> <![CDATA[After selling my main residence how long do I have to live in my other flat to escape CGT when I sell it?]]> <![CDATA[After selling my main residence how long do I have to live in my other flat to escape CGT when I sell it?]]> <![CDATA[Will I pay inheritance tax on the recent sale of my mum's house. She died 5 yrs ago,.]]> I already own a flat and have been dividing my time between the properties.

]]> <![CDATA[Am I being cynical?]]> I recently received a letter from HMRC saying my Tax return was late and I owe them £100.00.

Everything was done online and I have receipts for both the payment and the submission of the Tax Return before the deadline.

I will point out the 'mistake' to the HMRC, may even be lucky enough to get an apology in reply. Are the HMRC hoping that if they send out enough of these letters a certain percentage of people will pay as they are worried/scared/can't be bothered???

]]> <![CDATA[How does sacrificing 7.5% of my salary put more money in my pocket?]]> My employer is introducing a 7.5% Salary Exchange Scheme. How does sacrificing 7.5% of my salary put more money in my pocket each month? I can't make it add up. Maybe Im doing the maths wrong. Could you please explain and do some illustrations at salaries of £45000, £50000 and £55000. Many thanks.

]]> <![CDATA[Property CGT and PRR with ownership of two homes.]]> My mum owns two homes.

a) First home bought in 1990

b) Second home bought in 1998

The second home was elected as the PRR in 2006.

Following the passing of my late father my mother is considering selling one or both homes. For the sake of IHT and CGT what is here position on the properties in terms of gains and legitimately avoiding tax bearing in mind property inflation peaked in 2007, having risen for 10 to 15 years before.

What is the best solution to selling one or both homes?

Thanks

]]> <![CDATA[Paying tax on selling my smallholding.]]> I plan on selling my 13 acre smallholding, valued at £600.000, i dont run a bussines from it and have made money on it from buying it 17 years ago. I have been told by an accountant that i will have to pay tax on the land when i sell it {around £50-£60 K} if this is true i can not afford to move to the new place i want, Any advice Thankyou.

]]> <![CDATA[My husband has been on Paternity leave since April. He has now resigned and has his last holiday pay. Why has he been taxed so much + paid more NI?]]> What does EESP mean? His leaver/ holiday pay was£2968 but bottom line we've had £2051!

]]> <![CDATA[Paying PAYE but self employed for 2nd job]]> I am employed full time & on PAYE, earning around 39K. However, am about to take up extra work on a self employed basis - what are the tax implications?

]]> <![CDATA[Paying PAYE but self employed for 2nd job]]> I am employed full time & on PAYE, earning around 39K. However, am about to take up extra work on a self employed basis - what are the tax implications?

]]> <![CDATA[What are the UK and/or Hong Kong tax implications for a UK resident and additional rate tax payer opening a personal bank account in Hong Kong?]]> <![CDATA[I understand that parents can gift £3000 per year to their children. How does that work if mom re-married? can step-dad gift the same??]]> <![CDATA[Tax payable on share of freehold payment?]]> Is tax payable on a share of freehold membership payment made to existing 3 freeholder members by 4th joining member, either on a personal, individual basis or as a limited company - already set up to manage our property?

]]> <![CDATA[Tax payable on share of freehold payment?]]> Is tax payable on a share of freehold membership payment made to existing 3 freeholder members by 4th joining member, either on a personal, individual basis or as a limited company - already set up to manage our property?

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