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Where Taxpayers and Advisers Meet

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by darthblingbling
Thu Mar 26, 2020 8:56 pm
Forum: Company Taxation
Topic: Covid 19 help for small limited companies
Replies: 8
Views: 291

Re: Covid 19 help for small limited companies

Yup. Although I guess you could furlough yourself and get 80% of what you declared as employment income
by darthblingbling
Fri Mar 20, 2020 3:31 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Pension contributions when on SSP
Replies: 1
Views: 526

Re: Pension contributions when on SSP

That is a good question actually considering the current climate. Used to know the answer but it's all out of my head. Will be interesting to see the what is said
by darthblingbling
Mon Mar 16, 2020 11:54 pm
Forum: Income Tax
Topic: Personal allowance
Replies: 1
Views: 452

Re: Personal allowance

You get the full PA. Your tax code may not necessarily reflect this however if you're not on a cumulative code, so you may have some tax withheld that will be refunded later.

Fyi you'll still have to pay national insurance as this will be calculated based on monthly thresholds.
by darthblingbling
Wed Mar 11, 2020 5:46 pm
Forum: Income Tax
Topic: Keeping non-uk resident status for last year
Replies: 9
Views: 644

Re: Keeping non-uk resident status for last year

Fyi if you stopped working overseas since late Jan then you will have a significant break from overseas work and the third automatic overseas test will not apply.

If you then only had a home in the UK since Jan then you may pass the 2nd UK test
by darthblingbling
Wed Mar 11, 2020 3:50 pm
Forum: Income Tax
Topic: Keeping non-uk resident status for last year
Replies: 9
Views: 644

Re: Keeping non-uk resident status for last year

There will also be split year treatment to consider as well which effectively mean that you're only resident from a certain date and not the whole year, if applicable.
by darthblingbling
Wed Mar 11, 2020 2:40 pm
Forum: Capital Gains Tax, CGT
Topic: flipping a hosue
Replies: 3
Views: 529

Re: flipping a hosue

Income
by darthblingbling
Tue Feb 25, 2020 2:47 pm
Forum: Income Tax
Topic: Tax Residency
Replies: 8
Views: 503

Re: Tax Residency

US citizens are considered tax residents in the US wherever they reside.
How old is your daughter and what does she do?
by darthblingbling
Sat Feb 08, 2020 7:07 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: Pension contribution limit calculation
Replies: 3
Views: 594

Re: Pension contribution limit calculation

It's gross contributions.

Employers, employees, gross contributions to your personal pensions.

If you have any DB pensions it can get a bit tricky.
by darthblingbling
Wed Feb 05, 2020 11:55 pm
Forum: Capital Gains Tax, CGT
Topic: Cost of borrowing as deductible expense
Replies: 7
Views: 871

Re: Cost of borrowing as deductible expense

No and no. Somewhere in ITTOIA 2005
by darthblingbling
Thu Jan 23, 2020 6:24 pm
Forum: Income Tax
Topic: Pension entry on SA
Replies: 2
Views: 390

Re: Pension entry on SA

Sounds like you're getting relief via the payroll anyway?

Are the deductions being taken from your taxable income on the payslips or net income?

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