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Where Taxpayers and Advisers Meet

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by nikkisizer
Tue Jun 07, 2016 8:15 am
Forum: Income Tax
Topic: Late tax return + self employed earning below tax allowance
Replies: 4
Views: 1045

Re: Late tax return + self employed earning below tax allowance

Hello almondtree, The penalties issued are late filing penalties for not filing your tax return on time. Therefore, regardless of whether or not any actual tax is due the late filing penalties unfortunately still stand. Happy to help if required so if you need any further assistance please do not he...
by nikkisizer
Tue Jun 07, 2016 8:10 am
Forum: International Tax
Topic: Returning to the UK - CGT, Split Year Treatment and on-going tax
Replies: 3
Views: 1244

Re: Returning to the UK - CGT, Split Year Treatment and on-going tax

Hi baconsarnie,

For your information and to be clear, my previous answer is based on the assumption that you have sold residential UK property.
by nikkisizer
Tue Jun 07, 2016 8:04 am
Forum: International Tax
Topic: Returning to the UK - CGT, Split Year Treatment and on-going tax
Replies: 3
Views: 1244

Re: Returning to the UK - CGT, Split Year Treatment and on-going tax

Hi baconsarnie, Unfortunately it is likely that you will be liable for capital gains tax as the rules regarding capital gains tax for UK Non-residents changed significantly with effect from the 2015/16 tax year in that a UK Non-resident owner who makes a disposal of a UK residential property is now ...
by nikkisizer
Sun May 22, 2016 8:04 am
Forum: HMRC Administration, Practices & Methods
Topic: Will I get my PAYE Tax back?
Replies: 2
Views: 2625

Re: Will I get my PAYE Tax back?

Hi Jack, Assuming you are registered for self assessment, you will not receive a P800 form from HMRC for the tax year in question. Any tax refund due will be taken into account when the tax calculation is performed for your self assessment tax return submission. Your 2015/16 tax return will have bee...
by nikkisizer
Sun May 22, 2016 7:06 am
Forum: International Tax
Topic: Returning to UK after having worked in Switzerland
Replies: 4
Views: 1330

Re: Returning to UK after having worked in Switzerland

Dear Joe, Once you become UK resident for tax purposes any foreign income received will need to be reported on a self assessment tax return. In order to do this you will need to register for self assessment with HMRC. Happy to help if required so if you need any further assistance please do not hesi...
by nikkisizer
Tue Dec 22, 2015 10:33 am
Forum: Income Tax
Topic: End Of Employment Tax Return Help
Replies: 2
Views: 653

Re: End Of Employment Tax Return Help

Hello busters dad, As you were self employed during the current tax year (2015/16) HMRC will issue you with your self assessment tax return next April at which point the tax calculation can be performed and any overpaid tax will be refunded to you. Happy to help so please do not hesitate to contact ...
by nikkisizer
Tue Dec 22, 2015 8:04 am
Forum: VAT & Excise Duties
Topic: Can I deduct VAT from my self assesment?
Replies: 15
Views: 2939

Re: Can I deduct VAT from my self assesment?

Hi ash213,

If you cannot claim the VAT back paid on certain purchases then this is allowable as an expense so you would deduct the gross amount not the VAT exclusive amount.
by nikkisizer
Thu Dec 10, 2015 7:02 am
Forum: Capital Gains Tax, CGT
Topic: C.G.T. house valuation
Replies: 3
Views: 966

Re: C.G.T. house valuation

Hello POOLE77,

Yes, that is often the case with Estate Agents and will suffice for the purpose of capital gains tax.
by nikkisizer
Wed Dec 09, 2015 12:57 pm
Forum: Capital Gains Tax, CGT
Topic: C.G.T. house valuation
Replies: 3
Views: 966

Re: C.G.T. house valuation

Hi kanrent, Yes it would be prudent to obtain an accurate valuation from a reputable source as close to 05 April 2015 as possible. HMRC have only stated that it is the responsibility of the taxpayer to ensure that the property is valued accurately for capital gains tax purposes. Happy to help if req...
by nikkisizer
Wed Dec 09, 2015 12:54 pm
Forum: Capital Gains Tax, CGT
Topic: C.G.T. house valuation
Replies: 1
Views: 650

Re: C.G.T. house valuation

Hi kanrent, Yes it would be prudent to obtain an accurate valuation from a reputable source as close to 05 April 2015 as possible. HMRC have only stated that it is the responsibility of the taxpayer to ensure that the property is valued accurately for capital gains tax purposes. Happy to help if req...

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