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Where Taxpayers and Advisers Meet

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by 170872
Fri May 23, 2014 9:33 am
Forum: Company Taxation
Topic: Car petrol expenses
Replies: 0
Views: 479

Car petrol expenses

Dear all, I got a client of mine who is a Limited Company and uses his friends car for his business. The car registration card has his friends name on it but is used by my clients business. No rent or any payments is paid to the owner of the car for using the car in the company. My question is can t...
by 170872
Thu Jun 20, 2013 11:43 am
Forum: Income Tax
Topic: Has not filed tax return and voluntary submission
Replies: 0
Views: 423

Has not filed tax return and voluntary submission

Hi all, Would appreciate if anyone can give their views I have a client who has never filed his tax return. He has one property and was receiving rent for many years. Now he would like to file his TR voluntarily. Am I correct in saying that he needs to file TR going back 6 years? He has rental (one ...
by 170872
Thu Jan 03, 2013 8:46 pm
Forum: Income Tax
Topic: HMRC activation key and self assessment
Replies: 3
Views: 1279

Re: HMRC activation key and self assessment

Thank you for your reply Pawncob.

One more last question please. Can he use a commercial software to file his tax return in the UK (taxable income in UK?) if the activation pin does not arrive on time?

He is a sleeping partner in a partnership where he has 50% share of profit.
by 170872
Thu Jan 03, 2013 2:37 pm
Forum: Income Tax
Topic: HMRC activation key and self assessment
Replies: 3
Views: 1279

HMRC activation key and self assessment

I have two questions and would appreciate if some one can advice I have a friend who has invested in a partnership in the UK but living abroad in colombo. I have just helped him to register for HMRC online and I was told that the activation pin will take around 10 days to reach him in colombo. He ha...
by 170872
Mon Dec 17, 2012 3:40 pm
Forum: Company Taxation
Topic: Corporate Tax Payment arrangement
Replies: 2
Views: 856

Corporate Tax Payment arrangement

I am struggling to pay my CT and planning to call HMRC payment support line.

In the past they asked me if my salary is contracted or not. I am not sure what they ask me such a question and would be grateful if someone can share some light. How that this influence their decision

Thank you
by 170872
Sat Aug 25, 2012 9:19 am
Forum: VAT & Excise Duties
Topic: Can I claim VAT on stocks when I acquire new shop
Replies: 1
Views: 673

Can I claim VAT on stocks when I acquire new shop

Hi, I have just acquired a convenient shop (2 months ago) which sell a mix of products lotteries, off-licenses items, etc where some has VAT and some none. The stock I have purchase is worth about 900 pounds which has some VAT items and some exempted. My question is after taking the shop from a prev...
by 170872
Mon Feb 20, 2012 3:37 pm
Forum: Income Tax
Topic: Letter from HMRC
Replies: 4
Views: 1243

Letter from HMRC

My mother got a letter from HMRC asking her to pay extra tax amounting to more than 1K for the year 2008/2009, 2009/2010,2010/2011. For the tax year- 2008/2009 she received a state pension of 5,291 and a salary of 8,601 for secretarial work from my brothers business where a tax of 387.20 has been de...
by 170872
Sat Jan 28, 2012 3:19 am
Forum: Income Tax
Topic: Advice required
Replies: 10
Views: 1671

Advice required

I wonder if someone can advise me regarding minimum NI payment for pension contribution to quality for state pension purposes. I been out of the country since last year april due to my fathers ill health and I wouldn't want to miss my statutory right for pension purposes. Is there anything I can do ...
by 170872
Mon May 10, 2010 5:20 pm
Forum: Company Taxation
Topic: Professional fees
Replies: 1
Views: 786

Professional fees

If a Ltd company paid professional fee £4000 in respect of properties owned by pension fund and this expense is charged to company’s profit and loss account.

Is this expense allowable for Corporation Tax please?

Thanks
by 170872
Mon Jan 25, 2010 12:21 am
Forum: Company Taxation
Topic: Extention of Loss Carry back
Replies: 1
Views: 864

Extention of Loss Carry back

My understanding about extension of loss carry back[/b] The amount of trading losses that can be carried back to the preceding year remains unlimited. After carry back to the preceding year, a maximum of £50,000 of unused losses will be available for carry back to the earlier two years . If I have a...

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