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Where Taxpayers and Advisers Meet

Search found 1361 matches

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by Lambs
Fri Nov 10, 2017 5:05 pm
Forum: Capital Gains Tax, CGT
Topic: NRCGT return
Replies: 241
Views: 105217

Re: NRCGT return

No. I am not quite old enough...

(ageing...?!)
by Lambs
Thu Nov 09, 2017 11:05 pm
Forum: Capital Gains Tax, CGT
Topic: NRCGT return
Replies: 241
Views: 105217

Re: NRCGT return

R, L,

Good luck with your appeals. I have no doubt that pretty much everyone on TW feels the same.

Kind regards,

Lambs
by Lambs
Thu Nov 09, 2017 8:35 am
Forum: Tax Investigations and Enquiries
Topic: Child Benefit charge
Replies: 5
Views: 70572

Re: Child Benefit charge

They must like you. They usually just deny everything when I contact them. Like with the SA returns this year. "Our software team says there are no issues with the tax calculator for 2016/17 and it is working as expected".

A couple of dozen "Exclusions" later...
by Lambs
Wed Nov 08, 2017 2:34 pm
Forum: Tax Investigations and Enquiries
Topic: Child Benefit charge
Replies: 5
Views: 70572

Re: Child Benefit charge

Wow, that really is not right, is it? I am running £52k gross salary, and £5k in taxable benefits, and coming up with no restriction at all. But the funny thing is, the full detail for the Taxable Benefits box is: "Taxable benefits provided by your employer - for example the value of any medical ins...
by Lambs
Tue Nov 07, 2017 7:51 pm
Forum: Tax Investigations and Enquiries
Topic: Child Benefit charge
Replies: 5
Views: 70572

Re: Child Benefit charge

S, I should not expect a difference, because the extent of the clawback is determined by reference to your "adjusted net income", which includes your taxable benefits. Could you please point us to the website? If you personally made any pension contributions, then you should also includes those - th...
by Lambs
Sat Nov 04, 2017 9:19 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: Investment loss - help
Replies: 3
Views: 43557

Re: Investment loss - help

F, you are most welcome. I do hope that if you do end up investing, you do not end up with a substantial capital loss. But if you do, you can claim it, and hopefully one day you will be able to get relief for it. 2 important further points to bear in mind: Once established, a capital loss has no "us...
by Lambs
Sat Nov 04, 2017 11:59 am
Forum: Savings & Investments, Pensions & Retirement
Topic: Investment loss - help
Replies: 3
Views: 43557

Re: Investment loss - help

F, Investments are generally seen as capital assets. If you made a loss on an investment/capital asset such as shares, then it would be a capital loss. You cannot normally set capital losses against income/earnings. So no tax relief against salary, self-employed profits, or similar. Capital losses m...
by Lambs
Wed Oct 25, 2017 9:23 am
Forum: Income Tax
Topic: High Income & BTL - Pay into Pension?
Replies: 1
Views: 3342

Re: High Income & BTL - Pay into Pension?

J, You cannot now backdate a pension contribution to 2016/17. Only in-year contributions can now be made. The only thing that can be carried back now (apart from losses and some high-risk investments - EIS / SEIS) is Gift Aid type charitable donations. They would have a similar effect on your 2016/1...
by Lambs
Fri Oct 20, 2017 7:47 am
Forum: HMRC Administration, Practices & Methods
Topic: High income child benefit charge
Replies: 7
Views: 11309

Re: High income child benefit charge

Yes. Child Benefit is not taxable. CB is not the charge.
by Lambs
Thu Oct 19, 2017 9:09 pm
Forum: HMRC Administration, Practices & Methods
Topic: High income child benefit charge
Replies: 7
Views: 11309

Re: High income child benefit charge

B, You fell into my trap. I said that CB was nothing to do with tax, nor is taxable income. You have confirmed my point that it is only by reason of amending legislation that there is an Income Tax charge to claw it back. Thank you. Having said that, I should probably limit my arguments to those whi...

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