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Where Taxpayers and Advisers Meet

Search found 57 matches

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by Lsp54
Fri May 24, 2019 6:21 pm
Forum: Business Tax
Topic: Mechanics of claiming carry back of a terminal trading loss
Replies: 2
Views: 167

Re: Mechanics of claiming carry back of a terminal trading loss

Thanks for your reply. I will have to amend the tax return I sent in, and put in the figure for 'tax overpaid in earlier year'.

Many thanks again.
by Lsp54
Fri May 24, 2019 4:35 pm
Forum: Business Tax
Topic: Mechanics of claiming carry back of a terminal trading loss
Replies: 2
Views: 167

Mechanics of claiming carry back of a terminal trading loss

I used PTP to file a 2018/2019 tax return for a client showing a terminal loss, and elected clearly on the PTP self-employment pages to carry this back to the previous year. I just phoned the agent helpline and they confirmed this hasn't been activated, and a lady from the technical department infor...
by Lsp54
Fri May 03, 2019 12:53 pm
Forum: Income Tax
Topic: Cease trading but weekly receipts thereafter
Replies: 4
Views: 200

Re: Cease trading but weekly receipts thereafter

Thanks very much. very useful. Helped me think it through.
by Lsp54
Fri May 03, 2019 7:47 am
Forum: Income Tax
Topic: Cease trading but weekly receipts thereafter
Replies: 4
Views: 200

Re: Cease trading but weekly receipts thereafter

Hello, thanks very much for your reply. My client has had to finish work for health reasons and has very limited funds, and these payments are to be received over 36 years, which is much longer than his life expectancy. These sort of arrangements don't always go the full distance. To pay tax on £46,...
by Lsp54
Thu May 02, 2019 11:45 am
Forum: Income Tax
Topic: Cease trading but weekly receipts thereafter
Replies: 4
Views: 200

Cease trading but weekly receipts thereafter

My client ceased trading suddenly in December 2018 due to unexpected ill health. He was applying the cash basis on his income and there was a considerable amount owing from a customer when he finished. He started to receive £25 per week In January 2019. To carry on for many years. He wants to avoid ...
by Lsp54
Tue Jan 08, 2019 3:45 pm
Forum: Income Tax
Topic: Commercial Pilot expenses in tax return
Replies: 0
Views: 139

Commercial Pilot expenses in tax return

Hi,
Is it true that self-funded training and type-rating costs are still not allowable for 2017/2018?
Also, I wonder if commercial pilots can claim the cost of their flying medical examination.
If anyone can confirm these issues I will be very grateful. Many thanks.
by Lsp54
Mon Dec 17, 2018 9:40 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Historical Class 2 contributions backlog
Replies: 0
Views: 279

Historical Class 2 contributions backlog

Hi, I have had a few clients who have been self-employed for many years but when they started out they failed to set up a national insurance record. Since Class 2 NIs were included in self-assessment, the Hmrc software has thrown out my Class 2 amount due. I haven't had any problems sorting this out...
by Lsp54
Mon Dec 03, 2018 11:24 am
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: EU national leaving UK and NICs
Replies: 2
Views: 533

EU national leaving UK and NICs

Hi, My client ceased UK self-employment in November 2018 and has returned home to Slovakia with her young family. She needs written confirmation that she is now off the NI system in the UK so she can access healthcare in her own country. The NI dept at Hmrc say she qualifies, and the only task ahead...
by Lsp54
Mon Oct 29, 2018 12:20 pm
Forum: Business Tax
Topic: Uninstall bathroom in nursing home
Replies: 9
Views: 1617

Re: Uninstall bathroom in nursing home

Hi, In the end I treated the expenditure as property improvements.
by Lsp54
Wed Sep 19, 2018 10:06 am
Forum: Income Tax
Topic: Self-employed and leaving the UK
Replies: 0
Views: 307

Self-employed and leaving the UK

Hi, My client is having to close her business and go back to Slovakia in November 2018. She thinks she'll make a loss this tax year and is thinking of filing for bankruptcy. I can reduce her 2019 payments on account to zero, but can we establish a loss with HMRC before next April to maybe claim loss...

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