| United Kingdom Taxes |
| What is budget surplus? how we can measure it? effects of government on this? |
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A budgetary deficit is the amount of expenses the government exceed the income in a particular year. A deficit exists when the public expens...... |
| What happens when you get a company car? |
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You have to pay Tax on the 'benefit in kind' whether you only use it for business or not.
The benefit in kind is the value of the c...... |
| If dividends are paid after company tax has been calculated, are the shareholders/directors liable for tax? |
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Yes. This was a campaign point for W in his first election - double taxation of dividends. The company pays its taxes and distributes the ...... |
| Hi. I am from south africa, been in the uk for over a year. i would like any advice on claiming tax back.? |
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If you have your last IRP 5 fill in the tax return and give your UK address....... |
| Is my tax code correct and am i paying the correct amount? |
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P60 is not a tax code, it is the letter you get in April each year to let you know how much you've earned in the previous tax year.
You...... |
| I'm winding up my business, can i keep the money left over? |
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The IRS will want their share of the profit. However, just because you have money left, does not mean there is profit. You will incur some...... |
| Does anyone know how much duty is payable on import of a diamond from the USA? |
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Start at Revenue and Customs website (UK)...... |
| How many %per month is the paye for subcontractors? |
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It depends what you mean really. If you are talking about the Construction Industry then at the moment it is 18%, but if you are providing ...... |
| Should i be paying tax at BR rate in part time job when i already have full time job? |
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You will be paying basic rate tax because you already have a full-time job.
To check that its right, work out your total income for the ...... |
| What are the rules and regulation of VAT in the UK? |
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All goods and purchases involve Value Added Tax. It is typically set at 17.5% and almost everyone pays it for almost everything. Some comp...... |
| If i was to by my house and pay it of outright would i b liable to pay tax? |
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What kind of tax do you mean?
If you mean a sales tax, like VAT, then no - property is not VAT-liable in the UK (unlike, say, the Netherl...... |
| How much could i receive in money as a gift from the USA without paying tax ? |
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Actually, as of 2006 the limit is $12,000. Meaning you can receive up to $12,000 from one source without being taxed on it. You can receiv...... |
| I asked an english company for tax refund, but they never send me anything. How can I contact them? |
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If you don't know the company name, thats a BIG problem!!! Try and find out the name, then an email address. Email always works best for...... |
| What is "ote" as in eg. 75000 pounds OTE? |
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"On Target Earnings"
It means that this is not your salary, which you will receive regardless.
It is based on a "Target...... |
| Iam divorced and my former husband is going to be made bankrupt ,does this affect me,we have no ties at all.? |
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If you are divorced and you own no property or owe no bills that are in both your name and his then it will not affect you.
If he is def...... |
| What does k mean on your tax code eg k432? |
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I found this website really useful:
...... |
| Why is the inland revenue self assessment form so complex? |
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Very simple reason: to make totally unnecessary work for civil servants who are leeching from those parts of society that actually make the ...... |
| My brother died last month,the guy who shared the house with him took money out of his bank police wont prosec |
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Unless your brothers friend was a signatory to the bank account then it was theft. If he was a signatory then unfortunately nothing you can ...... |
| How do I REGISTER WITH THE IRS (UK), when I start a small business? |
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I am not sure what you mean by the IRS as you do specify UK and not the USA. But I shall presume you mean HM Revenue & Customs.
The follo...... |
| P87 mileage claim, what else can i claim? |
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If you run your own business then the rules are different. If you are employed, your company would usually pay you a car allowance and a sma...... |
| What are the implications for VAT In Great Britain? |
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Sorry but you will have to ask it again with some parameters to the question. At present you are asking the equivalent of "What are the...... |
| Tax code changed from 489L to BR, what does it mean in terms of whether it will increase or decrease tax paid? |
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BR is basic rate - it means that you will pay tax at the basic rate of 22% on all taxable income. It is also known as the emergency tax code...... |
| What are the badges of trade? |
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See the following:
...... |
| How is tax worked out when youve got two jobs & is the tax higher on your second job? |
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Depends on the total amount of earnings. Tax is calculated on all of your earnings added together. There is a personal allowance of around 拢...... |
| If I rent out my sole resedenice in the uk which I have own for 10 years and then sell it after renting it? |
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This can be a tricky area. Generally you would not need to pay CGT on the sale of your own property because of principal private residence ...... |
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