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Where Taxpayers and Advisers Meet

Advice

trevor62
Posts:8
Joined:Thu Mar 21, 2013 2:39 pm
Advice

Postby trevor62 » Thu Mar 21, 2013 2:44 pm

I earned about £13'000 from interest on my savings and earned only approx £3'000 from p.a.y.e, a total of approx £16'000pa, can I still claim the £8'105 tax free allowance when I do my tax return?

Thanks :)

Stevens
Posts:90
Joined:Wed Oct 31, 2012 1:23 pm

Re: Advice

Postby Stevens » Thu Mar 21, 2013 2:47 pm

Hi

Yes you can.

Regards

Adrian

trevor62
Posts:8
Joined:Thu Mar 21, 2013 2:39 pm

Re: Advice

Postby trevor62 » Thu Mar 21, 2013 3:44 pm

Hi

Yes you can.

Regards

Adrian
:mrgreen: Thanks for your quick response. Because my tax return details are quite basic should I do an online tax return or should I get an accountant, the interest from my savings will not have the tax deducted as I applied to do this myself.

Stevens
Posts:90
Joined:Wed Oct 31, 2012 1:23 pm

Re: Advice

Postby Stevens » Thu Mar 21, 2013 3:50 pm

You should be able to do this yourself either by using the HMRC software which is adequate for what you need it for.

trevor62
Posts:8
Joined:Thu Mar 21, 2013 2:39 pm

Re: Advice

Postby trevor62 » Thu Mar 21, 2013 6:50 pm

You should be able to do this yourself either by using the HMRC software which is adequate for what you need it for.
Thanks Adrian :)

I have just one more question:

I am married and have a child but my wife and child are at present living in Australia and my wife is not yet entitled to settle/ work in the UK, so for tax purposes should I mention to the tax office that I am married with a child?

Ive noticed on the online calculator that there is a section asking if you are married/ have child etc.

Stevens
Posts:90
Joined:Wed Oct 31, 2012 1:23 pm

Re: Advice

Postby Stevens » Thu Mar 21, 2013 7:18 pm

just say your married.

trevor62
Posts:8
Joined:Thu Mar 21, 2013 2:39 pm

Re: Advice

Postby trevor62 » Thu Mar 21, 2013 7:24 pm

just say your married.

Thanks Adrian :D have a nice day.

Incredulum
Posts:2795
Joined:Thu Dec 03, 2009 5:35 pm

Re: Advice

Postby Incredulum » Thu Mar 21, 2013 8:14 pm

Do you have to do a tax return? You should have tax deducted at source from your interest (if it's a UK bank). So what you would then need to be doing is reclaiming tax from HMRC which does not require a tax return.

trevor62
Posts:8
Joined:Thu Mar 21, 2013 2:39 pm

Re: Advice

Postby trevor62 » Thu Mar 21, 2013 8:30 pm

Do you have to do a tax return? You should have tax deducted at source from your interest (if it's a UK bank). So what you would then need to be doing is reclaiming tax from HMRC which does not require a tax return.
Thanks Incredulum, I applied to not have the tax deducted as I would do it myself, knowing that the tax office are quicker in taking your money than paying it back ;)

mullet
Posts:3242
Joined:Fri Nov 06, 2009 9:26 am

Re: Advice

Postby mullet » Fri Mar 22, 2013 1:24 am

I applied to not have the tax deducted as I would do it myself, knowing that the tax office are quicker in taking your money than paying it back
So you made a inaccurate (fraudulent?) claim to HMRC? That isn't clever.


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