Cutting Tax

A question about : Self employed income tax calculator?

I've been self employed since November 2007 and am about to withdraw my first wage. I have 2 business bank accounts, the second of which I'm going to save my tax in. Are there any online calculators that can work out how much tax I need to set aside, or does anyone know the exact levels and breaks for this year?

Cheers,

Chris.

A question about : TaxCalc alternative?

I was just about to purchase Taxcalc 2004 for completing my tax return when I came across a company that provides a free product that does a similar job.

www.freefile.co.uk

It's on the offiicial list of Inland Revenue authorised software packages.

A question about : Company car or car allowance?

Hi,

I’m hoping for some advice on choosing a company car versus a car allowance. Sorry if these questions have been posted before, but my mind is going numb trying to answer all my questions at once! So it’s over to the experts...

Can anyone tell me whether I’ve worked out these numbers properly or if I’ve missed anything?

1) Company Car: I’m offered a VW Golf (and get the choice of either a petrol or diesel model). I know I’ll be hit with more tax, and I think this is how to work it out. Is this right?

A question about : What is tax code 647L?

Hello,

Sorry if this has been asked a million times before, but I recently checked my wage slips, since starting work in my current company on the 3rd of March 2008, and I appear to be on tax code 647L.

Is this a emergency tax code? If so does that mean I'm possibly overpaying tax at this moment in time?

Thanks in advance.

A question about : company car vs car allowance

From the tax point of view is having a company car the same as getting a car allowance and buying/leasing one yourself ?

A question about : Cash Gift from parents

I am about to receive a cash gift from my parents of Ј100,000.

From an IHT perspective I fully understand that as long as they live 7 years this cash will not form part of their estate and will therefore be free from IHT.

However, as this is a gift to myself, Should I be paying income tax on this money ?

I fully understand I will have to pay tax on the savings that this cash generates but the income tax situation is a little confusing, any help/advice appreciated.

regards

Jessmjc

A question about : How much do you have to earn before you pay 40% tax

Hi there,

Can someone please explain the tax boundaires. How much do you have to earn before you have to pay 40% tax, alos what is the other boundary for twenty percent tax.

I have a long commute to work but am not self employed, would I be eligble for any tax allowances for journeys etc.

Thanks in advance

X

A question about : Inheritance Tax advice

My father died in 2006 and left everything to mum, so no IHT was payable though the joint estate would have been enough to warrant it (i.e was greater than the 2006 threshold of Ј285k)

Mum has just died and I've been told that the IHT threshold is today's (Ј325k) plus dad's combined, so Ј610k.

IS this true??