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Where Taxpayers and Advisers Meet

Search found 20 matches

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by perseus
Fri Jan 09, 2015 1:28 pm
Forum: Capital Gains Tax, CGT
Topic: Capital loss from foreign investment.
Replies: 6
Views: 2327

Re: Capital loss from foreign investment.

Yes I know, but does it need to be declared within the tax year it occurs, or only at the time you are offsetting the loss, assuming you have the paperwork. I have no gains to offset for the tax year in question and it would be very complicated to work it anyway at this time. I know losses can be of...
by perseus
Thu Jan 08, 2015 7:41 pm
Forum: Capital Gains Tax, CGT
Topic: Capital loss from foreign investment.
Replies: 6
Views: 2327

Capital loss from foreign investment.

I have a small capital loss from foreign investments due to £/€ currency fluctuations, not nearly enough to make any difference to the 13/14 tax years bill. However, do I have to mention this on that years form if I ever wish to use those losses to offset potential future capital gains in future yea...
by perseus
Tue Mar 25, 2014 9:28 pm
Forum: Income Tax
Topic: Does Peer to Peer income count as savings for tax purposes?
Replies: 3
Views: 2291

Re: Does Peer to Peer income count as savings for tax purposes?

I believe it may take some time around (2017/18) before they are accepted as ISAs or NISAs whatever they are going to call them. In the meantime P2P is the only practical way of making use of the increase to £5000 due to the pathetic interest rates and low limits of conventional savings accounts.
by perseus
Tue Mar 25, 2014 9:22 am
Forum: Income Tax
Topic: Does Peer to Peer income count as savings for tax purposes?
Replies: 3
Views: 2291

Does Peer to Peer income count as savings for tax purposes?

The recent changes in the budget has increased the zero starting rate on savings income for savings. The Chancellor has also abolished the 10 pence starting rate for tax on savings which will help low-income savers. From April 2015 the starting rate of savings income tax will become 0% and the amoun...
by perseus
Thu Jan 17, 2013 4:29 pm
Forum: Income Tax
Topic: tax relief on pension contributions
Replies: 13
Views: 2840

Re: tax relief on pension contributions

A few years further on, after much legal wrangling, I am about to sign a 'compromise agreement' which should cover three quarters of the outstanding payment of the compensation. Thankfully my union and employment solicitor will cover the legal costs. Could I just check that the law hasn't changed si...
by perseus
Tue May 18, 2010 4:09 pm
Forum: Income Tax
Topic: Entering redundancy payments - On Line Self assessment form
Replies: 2
Views: 7422

Re: Entering redundancy payments - On Line Self assessment form

Thanks but this is the on line version. Anyway, I phoned the IR up this morning and evidently I forgot to tick the box in part 3 titled "Did you receive any other UK income, for example, employment lump sums, share schemes, life insurance gains?" this opens another box which allows you to enter redu...
by perseus
Mon May 17, 2010 1:51 pm
Forum: Income Tax
Topic: Entering redundancy payments - On Line Self assessment form
Replies: 2
Views: 7422

Entering redundancy payments - On Line Self assessment form

Would someone be kind aenough to help with this I have placed the gross redundancy amount ignoring the first tax free 30k, in section 4 'Tips and other payments not on your P60' section. Is this correct? Should this be the gross or net redundancy payment? At the moment it is calculating a whopping g...
by perseus
Tue Mar 23, 2010 10:52 am
Forum: Income Tax
Topic: tax relief on pension contributions
Replies: 13
Views: 2840

Re: tax relief on pension contributions

Thanks for that, that more or less confirms what I have heard elsewhere, so this is clear now.
by perseus
Mon Mar 22, 2010 8:55 pm
Forum: Income Tax
Topic: tax relief on pension contributions
Replies: 13
Views: 2840

Re: tax relief on pension contributions

So lets get this clear, assuming I do receive a further sum from my former employer, to ensure it is not backdated to the year 08/09 for tax purposes I need to agree with the employer that a) I have no further claims, and b) there is no acceptance on their part that I am entitled to the further sum ...
by perseus
Mon Mar 22, 2010 9:20 am
Forum: Income Tax
Topic: tax relief on pension contributions
Replies: 13
Views: 2840

Re: tax relief on pension contributions

This is the article which first alarmed me, but perhaps it only refers to situations where there has been a deliberate attempt to spread it over several years and not genuine subsequent payments from grievance issues Quote: Additionally, any redundancy package will be taxable when the individual bec...

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