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Where Taxpayers and Advisers Meet

Search found 1358 matches

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by Lambs
Fri Mar 08, 2019 7:24 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Telephones at NIC & EO temporarily out of order
Replies: 22
Views: 664

Re: Telephones at NIC & EO temporarily out of order

Fair cop, Guv.

Or as Del Boy would say,

"Mangetout, Rodney, Mangetout."

VB,

Lambs
by Lambs
Fri Mar 08, 2019 11:59 am
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Telephones at NIC & EO temporarily out of order
Replies: 22
Views: 664

Re: Telephones at NIC & EO temporarily out of order

Hmm. I'd like to know what exactly is a "Lamb's profanity"?

Regards,

Lambs
by Lambs
Thu Feb 14, 2019 11:47 pm
Forum: Income Tax
Topic: Marriage allowance - HMRC confused
Replies: 15
Views: 411

Re: Marriage allowance - HMRC confused

Hmm. It seems there are 2 pages to this thread...
by Lambs
Thu Feb 14, 2019 10:56 pm
Forum: Income Tax
Topic: Marriage allowance - HMRC confused
Replies: 15
Views: 411

Re: Marriage allowance - HMRC confused

B, B******s. Even a cursory reading of ITA 2007 s 10 would show that it is conditional on ANY OTHER PROVISIONS OF THE INCOME TAX ACTS that provide otherwise. The provisions relating to Gift Aid and to pension contributions do exactly that - extend the basic rate limit - rather than give some form of...
by Lambs
Wed Feb 13, 2019 10:45 pm
Forum: Income Tax
Topic: Marriage allowance - HMRC confused
Replies: 15
Views: 411

Re: Marriage allowance - HMRC confused

R, Note you are close to the h rate limits though and any other income that falls within the "untaxed tax free" savings or dividend allowance could put you over the top even though that income would probably not specifically generate a tax charge itself. A quick point about the interaction between t...
by Lambs
Tue Feb 12, 2019 8:17 pm
Forum: Income Tax
Topic: Marriage allowance - HMRC confused
Replies: 15
Views: 411

Re: Marriage allowance - HMRC confused

D, I believe your position is essentially correct - see this article https://www.taxationweb.co.uk/tax-articles/income-tax/hmrc-falling-short-with-the-new-transferable-tax-allowance.html which goes into some detail on HMRC's past failings in relation to the Transferable Tax Allowance. HMRC's appreci...
by Lambs
Fri Feb 01, 2019 2:12 pm
Forum: General
Topic: New vehicle for business
Replies: 2
Views: 153

Re: New vehicle for business

P, It matters less where you got the money from and more what you spend it on. In this case, buying a new vehicle for your self employed trade will generally be eligible for Capital Allowances - and Annual Investment Allowance in particular. So a 100% tax allowance in the year/period of acquisition....
by Lambs
Mon Jan 28, 2019 11:11 am
Forum: Income Tax
Topic: Can Self Employed pay themselves an income?
Replies: 5
Views: 213

Re: Can Self Employed pay themselves an income?

S, If you have recognised the income to your business account already, you do NOT need to count it again when you transfer it as drawings to your personal funds. Drawings are not taxable income. Perhaps A though that this was income, that was being credited directly to your personal account, but whi...
by Lambs
Thu Jan 24, 2019 6:07 am
Forum: Professionals in Practice & Industry
Topic: Seeking Advisor Recommendations
Replies: 1
Views: 283

Re: Seeking Advisor Recommendations

F, There are several contributors here who are proficient in terms of IHT. But your question is a little unusual: do you need to set up an EIS scheme, or do you think that EIS investments generally are the solution to your IHT issues? If the latter, then your query may fall at least partly within th...
by Lambs
Wed Jan 09, 2019 8:03 pm
Forum: Income Tax
Topic: No income from buy to let
Replies: 3
Views: 157

Re: No income from buy to let

Dear S, In relation to what is presumably the commencement of your property letting business, the test is in my opinion when you first started to market the property as being available to let. But HMRC reckons it is when you actually first let the property - which was clearly 2018/19. Note that you ...

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