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Where Taxpayers and Advisers Meet

Search found 1375 matches

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by Lambs
Tue Dec 31, 2019 7:00 pm
Forum: Income Tax
Topic: Marriage allowance exempt?
Replies: 9
Views: 1038

Re: Marriage allowance exempt?

I, As per D's last, Gift Aid donations and pension contributions are not subtracted from your taxable income (that would be too straight forward) but instead they push up the Higher Rate threshold, the Personal Allowance restriction threshold (usually at £100,000) and the Additional Rate Threshold (...
by Lambs
Thu Dec 26, 2019 6:06 pm
Forum: Income Tax
Topic: Marriage allowance exempt?
Replies: 9
Views: 1038

Re: Marriage allowance exempt?

All The querist said "I am a higher rate tax payer, but the amount I give to charity nullifies any higher rate tax." If that confuses HMRC's Helpdesk then we need a new Helpdesk. Taxpayers, who are not supposed to be expert in tax matters, are allowed to be imprecise. Having said that, I spend half ...
by Lambs
Tue Dec 24, 2019 1:57 pm
Forum: Income Tax
Topic: Marriage allowance exempt?
Replies: 9
Views: 1038

Re: Marriage allowance exempt?

I, Basically to echo D, ITA 2007 s 55C (1)(c) requires only that the 'donor' not be taxable at anything beyond the basic rate, if he or she were to give up 1/10th of his or her Personal Allowance. There is another condition which requires the donor's income to be below the tax-free Personal Allowanc...
by Lambs
Tue Dec 10, 2019 6:26 pm
Forum: Income Tax
Topic: Temporary Move into Higher Tax Bracket
Replies: 2
Views: 541

Re: Temporary Move into Higher Tax Bracket

S, Entitlement either to nominate your Transferable Tax Allowance (Marriage Allowance) in favour of another, or to benefit from another's nomination in your favour, is based on one's taxable income for the tax year. It follows that "temporarily" going into the higher bracket for a couple of months o...
by Lambs
Sat Dec 07, 2019 12:50 am
Forum: Income Tax
Topic: Gift Aid carry back
Replies: 9
Views: 1169

Re: Gift Aid carry back

Apologies didn't see the tax case reference. But I've added the link to Mark's article as well, so not entirely wasted duplication.

Regards all,

Lambs
by Lambs
Fri Dec 06, 2019 11:10 pm
Forum: Income Tax
Topic: Gift Aid carry back
Replies: 9
Views: 1169

Re: Gift Aid carry back

Covered in the tax case

John Cameron v CRC [2010] UKFTT 104 (TC) TC00415

https://www.taxationweb.co.uk/tax-articles/general/gift-aid-problems.html

Case rests, m'lud - although it's quite clearly an unfair / illogical treatment.

Regards all,

Lambs
by Lambs
Tue Nov 12, 2019 1:49 am
Forum: Income Tax
Topic: P11D on a used company car
Replies: 1
Views: 548

Re: P11D on a used company car

A, the price for company car benefit is list price when new.

Regards,

Lambs
by Lambs
Fri Nov 08, 2019 5:38 pm
Forum: Property Taxation
Topic: Property Developing across tax years
Replies: 1
Views: 618

Re: Property Developing across tax years

P, It is unclear if this property the subject of your post is the first such property that you have 'done up' to sell on, or one in a series. The relevance is that for a trading entity (and you seem in my opinion correctly to have recognised that this is an income / trading venture, rather than bein...
by Lambs
Mon Nov 04, 2019 9:46 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT and denunciation
Replies: 5
Views: 1612

Re: IHT and denunciation

B, If you were UK-resident and wanted to know about international aspects of operating overseas, then we might well be able to assist. Or overseas-resident and looking to operate here in the UK. But I don't think there is any UK aspect to this, so we are not really in a position to advise, I think. ...
by Lambs
Sat Nov 02, 2019 1:51 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT and denunciation
Replies: 5
Views: 1612

Re: IHT and denunciation

B,

I am not sure what this has to do with UK tax - it seems to be a query involving German / South African tax?

Regards,

Lambs

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