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Where Taxpayers and Advisers Meet

Search found 19 matches

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by bibescu
Tue Mar 05, 2019 12:36 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Wife on payroll
Replies: 2
Views: 920

Re: Wife on payroll

Hi,

The amount is £116/week for tax year 18/19.
Employees don’t pay National Insurance but get the benefits of paying.
by bibescu
Sun Oct 21, 2018 5:48 pm
Forum: Income Tax
Topic: Query on tax deductions
Replies: 1
Views: 234

Re: Query on tax deductions

He has to register, calling HMRC:
https://www.gov.uk/government/organisations/hm-revenue-customs/contact/construction-industry-scheme
by bibescu
Sun Aug 26, 2018 10:47 pm
Forum: VAT & Excise Duties
Topic: DIY vat reclaim
Replies: 19
Views: 3742

Re: DIY vat reclaim

https://www.taxationweb.co.uk/forum/vat-diy-rebate-rejected-t33423.html
by bibescu
Sat Aug 11, 2018 1:12 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Inheritance from abroad
Replies: 10
Views: 928

Re: Inheritance from abroad

Sorry for previous comment, I misunderstood.
However, she is deemed UK-domiciled for all tax purposes after living in Britain for 15 out of the last 20 tax years.
by bibescu
Sat Aug 11, 2018 1:01 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Inheritance from abroad
Replies: 10
Views: 928

Re: Inheritance from abroad

It looks like your client's mother is liable for IH and assuming she is non domiciled UK, the assets will be subject to HK legislation.
Your client will receive money from her mother, there is no liability here and no obligation for anybody to file an IHT return.
by bibescu
Mon Jul 30, 2018 10:32 pm
Forum: Company Taxation
Topic: CT600 and company classification
Replies: 1
Views: 632

Re: CT600 and company classification

According to the legislation, Corporation Tax main rate at 19% applies to all profits except ring fence profits, for the years starting the 1 April 2017, 2018 and 2019.
by bibescu
Sat Jan 20, 2018 12:21 am
Forum: Income Tax
Topic: Tax refund when stop working in middle of tax year.
Replies: 3
Views: 1345

Re: Tax refund when stop working in middle of tax year.

Hi,

If you do not expect to go back to work in this tax year, you can fill the form P50.
https://www.gov.uk/government/publications/income-tax-claiming-tax-back-when-you-have-stopped-working-p50
by bibescu
Thu Dec 21, 2017 2:10 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT question regarding a gift with reservation
Replies: 4
Views: 602

Re: IHT question regarding a gift with reservation

If the property gifted is subject to a reservation when the transferor dies, it has to be valued at the date of death.
by bibescu
Thu Dec 14, 2017 5:24 pm
Forum: VAT & Excise Duties
Topic: Limited cost trader for VAT
Replies: 1
Views: 443

Re: Limited cost trader for VAT

According VAT notice 733 Relevant goods are goods that are used exclusively for the purposes of your business, but don’t include: - vehicle costs including fuel, unless you’re operating in the transport sector using your own, or a leased vehicle. For transport sector, vehicle costs including fuel ar...
by bibescu
Sun Oct 15, 2017 5:19 pm
Forum: VAT & Excise Duties
Topic: Prompt Payment Discount and VAT
Replies: 5
Views: 5009

Re: Prompt Payment Discount and VAT

Credit note is the document to correct the initial invoice. Based on it, they can adjust VAT return and you can receive refund if you already paid.
No, you can not pay it into your bank.

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