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Where Taxpayers and Advisers Meet

Search found 444 matches

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by SteLacca
Thu Sep 05, 2019 7:33 am
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Overpayment and tax and NI
Replies: 1
Views: 1313

Re: Overpayment and tax and NI

If it was a genuine overpayment of salary which has already been subject to tax & NI (and possibly pension) then they should recover the NET overpayment from you, and the overpayment of tax, NI and pension will be processed via their payroll and recovered that way. It is not your job to recover the ...
by SteLacca
Wed Aug 14, 2019 2:53 pm
Forum: Income Tax
Topic: Monthly tax deduction from salary
Replies: 3
Views: 2649

Re: Monthly tax deduction from salary

It really sounds like PAYE may be being processed incorrectly. Who does the payroll - you may need to speak to them. For earnings (including commission) you are taxed when it's available for you, even if you "bank" it by not drawing it.
by SteLacca
Tue Aug 13, 2019 12:29 pm
Forum: Income Tax
Topic: Monthly tax deduction from salary
Replies: 3
Views: 2649

Re: Monthly tax deduction from salary

Who determines your commission? Are you, by any chance, talking about an owner managed business, with you as the owner? If not, how are you able to determine the level of commission in the first place? Regardless, for PAYE you are taxed when your income is made available to you. If this is on the ba...
by SteLacca
Thu Jul 25, 2019 3:18 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Is renting an office tax deductible for a PAYE employee
Replies: 5
Views: 2181

Re: Is renting an office tax deductible for a PAYE employee

The duties of the employment do require the expense. How do you reach that conclusion. The job is home based as stated in the original post. The expectation is, therefore, that the employee frees up sufficient space at home to accommodate this. The expense would be incurred either: Because the empl...
by SteLacca
Wed Jul 24, 2019 3:14 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Is renting an office tax deductible for a PAYE employee
Replies: 5
Views: 2181

Re: Is renting an office tax deductible for a PAYE employee

The legislation requires that, for an expense incurred by an employee to be allowable it must be incurred "wholly, exclusively and necessarily in the performance of your duties". Since you are not required to rent an office then necessary test is not met.
by SteLacca
Fri Jul 05, 2019 3:08 pm
Forum: Property Taxation
Topic: Tax efficient way to gift commercial property to spouse
Replies: 7
Views: 2519

Re: Tax efficient way to gift commercial property to spouse

If you gift the property to your wife she also acquires your history for tax purposes, so base cost for CGT purposes. This is unavoidable with a gift. As you have identified, bequeathing the property to her would mean her base cost is probate value for CGT purposes, but leaves you with the concerns ...
by SteLacca
Fri Jun 28, 2019 1:35 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Critical illness and dental insurance
Replies: 4
Views: 1829

Re: Critical illness and dental insurance

Are the figures on the P11D premiums paid over and above your contribution via payroll?
by SteLacca
Fri May 17, 2019 10:23 am
Forum: Capital Gains Tax, CGT
Topic: CGT / ER
Replies: 2
Views: 300

Re: CGT / ER

Have a look at Investor's Relief. https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg63500p
by SteLacca
Tue May 07, 2019 4:12 pm
Forum: General
Topic: Mistake on privious tax return
Replies: 4
Views: 1880

Re: Mistake on privious tax return

Is this a property overseas that was your home at some point, or is it your home concurrently with your UK home?

If the former, I wouldn't worry about it (provided you are not deriving income from it), and if the latter, it depends....
by SteLacca
Tue May 07, 2019 4:07 pm
Forum: Tax Investigations and Enquiries
Topic: Not paid tax or filed tax return in 20 years. Help!
Replies: 12
Views: 3054

Re: Not paid tax or filed tax return in 20 years. Help!

@JHolm: I recommend not trusting HMRC on this, but rather take a look at TMA 1970 S.7 and S.8, which is what the law says. You will find what the law says is very different than what HMRC says, and the law trumps HMRC every day of the week.

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