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Where Taxpayers and Advisers Meet

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by GlobalTaxAdviser
Fri Jan 02, 2015 8:25 pm
Forum: Income Tax
Topic: How to understand paid tax in UK
Replies: 4
Views: 732

Re: How to understand paid tax in UK

Hi Magda

ok since you started employment mid year and the UK tax system works on a cumulative basis there would be no tax to pay unless you start reaching the personal allowance threshold though there maybe some minor deduction for employee National Insurance before then

Kind Regards

Sash
by GlobalTaxAdviser
Fri Jan 02, 2015 6:16 pm
Forum: Income Tax
Topic: PAYE & Irregular/ad hoc payments to director/employee
Replies: 3
Views: 1412

Re: PAYE & Irregular/ad hoc payments to director/employee

Hi

For a tax efficient approach you would be paying a small salary less than or at the personal allowance threshold depending on the circumstances and larger dividends ?

To manage the company and personal cashflow and taxes it maybe advisable to appoint an accountant

Kind Regards

Sash
by GlobalTaxAdviser
Fri Jan 02, 2015 6:11 pm
Forum: Income Tax
Topic: How to understand paid tax in UK
Replies: 4
Views: 732

Re: How to understand paid tax in UK

Hello It does get complex with four jobs. Ideally you suppose to notify HMRC so they can split the personal allowance between the four jobs. Are you getting the full personal allowance for all jobs. Perhaps you are technically self employed ? Even though your income may be below the threshold, you c...
by GlobalTaxAdviser
Fri Jan 02, 2015 6:11 pm
Forum: Income Tax
Topic: How to understand paid tax in UK
Replies: 4
Views: 732

Re: How to understand paid tax in UK

Hello It does get complex with four jobs. Ideally you suppose to notify HMRC so they can split the personal allowance between the four jobs. Are you getting the full personal allowance for all jobs. Perhaps you are technically self employed ? Even though your income may be below the threshold, you c...
by GlobalTaxAdviser
Mon Dec 29, 2014 9:21 pm
Forum: Company Taxation
Topic: goodwill on incorporation
Replies: 1
Views: 865

Re: goodwill on incorporation

There used to be some tax benefits in terms of profit extractions when transferring a business from sole trader to ltd company but the recent Autumn statement stopped this practice.

Kind Regards

Sash
by GlobalTaxAdviser
Tue Dec 23, 2014 8:38 pm
Forum: International Tax
Topic: Working in the UK for a non UK company
Replies: 3
Views: 1000

Re: Working in the UK for a non UK company

Sorry to have sent the same message twice Can I add since she maybe resident in both singapore and UK and end up paying tax twice on the same income. The double tax treaty between Singapore and UK allow relief through a tax credit (Article 22). The Tie breaker in Article 4 will determine her primary...
by GlobalTaxAdviser
Tue Dec 23, 2014 8:19 pm
Forum: International Tax
Topic: Working in the UK for a non UK company
Replies: 3
Views: 1000

Re: Working in the UK for a non UK company

Hi Residency is governed by the relatively new Statutory Residency Test. There are various tests to pass to determine resident and non resident If she has stayed more than 183 days then she will automatically considered as resident in the UK. There shouldn't be a charge for national insurance for up...
by GlobalTaxAdviser
Tue Dec 23, 2014 8:19 pm
Forum: International Tax
Topic: Working in the UK for a non UK company
Replies: 3
Views: 1000

Re: Working in the UK for a non UK company

Hi Residency is governed by the relatively new Statutory Residency Test. There are various tests to pass to determine resident and non resident If she has stayed more than 183 days then she will automatically considered as resident in the UK. There shouldn't be a charge for national insurance for up...
by GlobalTaxAdviser
Sat Dec 20, 2014 2:26 pm
Forum: Capital Gains Tax, CGT
Topic: cgt non resident landlords
Replies: 11
Views: 1566

Re: cgt non resident landlords

Hi Luca No CGT before April 2015 if you were non resident for five years Yes you can keep the proceeds in the UK and buy another property in the UK. There isn't any rollover relief that will defer any gain One other point that could affect your future decisions the government has released a paper th...
by GlobalTaxAdviser
Sat Dec 20, 2014 2:26 pm
Forum: Capital Gains Tax, CGT
Topic: cgt non resident landlords
Replies: 11
Views: 1566

Re: cgt non resident landlords

Hi Luca No CGT before April 2015 if you were non resident for five years Yes you can keep the proceeds in the UK and buy another property in the UK. There isn't any rollover relief that will defer any gain One other point that could affect your future decisions the government has released a paper th...

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