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Where Taxpayers and Advisers Meet

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by robbob
Wed Mar 20, 2019 8:02 pm
Forum: Income Tax
Topic: Trading Allowance & estimating first payment
Replies: 4
Views: 99

Re: Trading Allowance & estimating first payment

I thought the first payment a self employed individual makes is 1 and a half times the liability? There was no previous tax return as the individual was always paying tax through PAYE before. That is correct Jholm Re: the payments on account, they will be calculated based on tax UNPAID per the prev...
by robbob
Tue Mar 19, 2019 5:08 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: how can I see what savings interest figures HMRC holds for me
Replies: 18
Views: 455

Re: how can I see what savings interest figures HMRC holds for me

This seems to differ somewhat from your statement of the positiondoes it not? Hello sleepycat I would agree 100% that that article is at odds with the following statement i made Note your ability to draw the money from the pot is something that will not be relevant when deciding when interest has b...
by robbob
Mon Mar 18, 2019 9:04 am
Forum: Savings & Investments, Pensions & Retirement
Topic: how can I see what savings interest figures HMRC holds for me
Replies: 18
Views: 455

Re: how can I see what savings interest figures HMRC holds for me

As things stand I am still not able to locate accurate advice about the point in time when savings interest actually becomes liable for tax -ie which tax year does a particular piece of interest fall into for tax purposes. There is some advise that interest which is rolled up into a fixed rate bond...
by robbob
Thu Mar 14, 2019 6:24 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: how can I see what savings interest figures HMRC holds for me
Replies: 18
Views: 455

Re: how can I see what savings interest figures HMRC holds for me

Its pretty much 100% your responsibility to always notify hmrc when you owe tax. so if you had interest on which you owed tax and there was no adjustment in your tax code - then no ESC would have been available - practicably speaking its the other way round that they could penalise you for not repor...
by robbob
Mon Mar 11, 2019 5:53 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: how can I see what savings interest figures HMRC holds for me
Replies: 18
Views: 455

Re: how can I see what savings interest figures HMRC holds for me

Firstly I did try to use the Personal Tax Account online - it wasn't easy and contrary to what I expected it contained simply the grossly distorted figure of untaxed interest which appears on my P800 - so no further forward - no indication of the institutions the interest accrued with or how much o...
by robbob
Wed Mar 06, 2019 9:06 am
Forum: VAT & Excise Duties
Topic: Flooring vat zero rated on new build
Replies: 3
Views: 101

Re: Flooring vat zero rated on new build

Not my area of expertise but i will give it a go. We paid the bill for these extras a month ago and were told that the carpets would be fitted prior to the entry date Carpets are not eligible for zero rating (strangely neither is an integrated oven - until such time as someone challenges the vat off...
by robbob
Mon Mar 04, 2019 5:48 pm
Forum: Business Tax
Topic: Recipts for monthly / DD payments? (Phone,etc)
Replies: 1
Views: 100

Re: Recipts for monthly / DD payments? (Phone,etc)

If vodafone only lets you download invoices for a limited period i would recommend downloading pdf''s so you have them available if you need them at a later date. With regard to vat if applicable it is possible no all the bills will be 100% standard rated for vat, so having the vat invoice available...
by robbob
Mon Mar 04, 2019 9:28 am
Forum: Property Taxation
Topic: Tax Free Allowance £1000
Replies: 3
Views: 154

Re: Tax Free Allowance £1000

It also states that rental income of less than £1k doesn’t require a return, I guess that is because of my first point above, however is this Gross or Net? That is income before deduction of 1k "allowance" So if you use the allowance of 1k (and therefore cant claim expenses) Income up to £1000 trea...
by robbob
Fri Mar 01, 2019 5:34 pm
Forum: HMRC Administration, Practices & Methods
Topic: Not fit for purpose
Replies: 3
Views: 124

Re: Not fit for purpose

0300 200 3600

https://www.gov.uk/government/organisations/hm-revenue-customs/contact/online-services-helpdesk
by robbob
Tue Feb 26, 2019 9:38 am
Forum: VAT & Excise Duties
Topic: VAT/MTD threshold, when much turnover non-UK/EU
Replies: 1
Views: 131

Re: VAT/MTD threshold, when much turnover non-UK/EU

I can't think of any major changes off the top of my head - presuming its always the general B2B rule for services that applies for you (or if goods they are always exported outside the uk.) To me You don't need to include [in taxable turnover] supplies you make in other countries when calculating y...

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