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Share Name Share Symbol Market Type Share ISIN Share Description
Tax Systems LSE:TAX London Ordinary Share GB00BDHLGB97 ORD 1P
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General Retailers 15.1 -1.9 -0.6 - 98

Tax Systems Share Discussion Threads

Showing 1451 to 1473 of 1725 messages
Chat Pages: 69  68  67  66  65  64  63  62  61  60  59  58  Older
DateSubjectAuthorDiscuss
08/4/2015
14:21
Phil, Sadly Miata is very unwell, and has not been able to answer questions here for quite some time, so you should not rely on it, and perhaps make your enquiries elsewhere. I would help if I could, but I know nothing of National Insurance
goatherd
05/4/2015
18:06
National Insurance,are my workings correct. Assuming allowance of £7200 p/a before NI kicks-in,at a rate of 12%. 1) earnings £1000 per month = £1000 less £600 = £400 @ 12% = £48 NI per month = £576 p/a. 2) earnings £0 for 3 months = £0 NI earnings £4000 for month 4 = £408 NI earnings £0 for next 3 months = £0 NI earnings £4000 for month 8 = £408 NI earnings £0 for next 3 months = £0 NI earnings £4000 for month 12 = £408 NI. In both cases yearly earning are £12000,but for example 2)your NI payments are £648 more because your earning are not regular,is this correct? TIA Phil.
4711phil
17/3/2015
21:20
Auphilman, You need first to contact the registrar such as Equiniti. They will need proof of probate. In some cases there will be a change in the number of shares ie a share split etc. In these cases they issue a new certificate and the old one becomes invalid. If you only have one certificate in the company it's probably valid. (You would only throw away the old one ! ) If you have any dividend letters they would have the number of shares held. Once say Equiniti are happy you will get a new certificate in your name. The shares can be sold by the administrator.
serratia
17/3/2015
20:56
I think you will probably need to enclose a "certified copy" of the death certificate and perhaps some indication that you are the/an Executor with authority to transfer the shares.
asmodeus
17/3/2015
17:13
great ty, will do.
auphilman
17/3/2015
16:45
If you are posting certificates, I would keep a photocopy and get a proof of posting - or send recorded delivery. The certificates themselves aren't valuable, but would give you problems if they went astray.
david77
17/3/2015
16:26
Auphilman, Another way is to get the widow to open an account with a broker, send him the certificates and ask him to sell the shares. You could also go to companies house and pay £1 for the latest members list of each company. I think contacting the registrar is probably the best way. Send them the certificate and ask them to transfer the shares to the widow.
goatherd
17/3/2015
12:53
Thanks,i will.
4711phil
17/3/2015
12:31
Yes. Your could confirm itby ringing 0300 200 3300. Usually quite a time. I normally think it is a mistake to alert HMRC to queries - but this is so straight forward it should be harmless.
goatherd
17/3/2015
12:11
So i can create a loss to use against gains made this year,and buy them back in an ISA within 30 days ?
4711phil
17/3/2015
11:39
No, Phil. You and your ISA are different "people".
goatherd
17/3/2015
11:37
Hi, if i sell shares in XYZ just before the end of this tax year from my trading account,does the 30 day rule still apply if i buy them back within my ISA account? TIA Phil.
4711phil
16/1/2015
09:22
Thanks lads ...
pedr01
15/1/2015
16:46
HMRC gives the rules at http://www.hmrc.gov.uk/manuals/salfmanual/SALF308A.htm Basically from 31st Jan you pay interest on unpaid tax. 28 days later, if still unpaid, you pay an additional 5% penalty. 6 months later, if still unpaid, you pay an additional 5% penalty.
goatherd
15/1/2015
16:45
HMRC gives the rules at http://www.hmrc.gov.uk/manuals/salfmanual/SALF308A.htm Basically from 31st Jan you pay interest on unpaid tax. 28 days later, if still unpaid, you pay an additional 5% penalty. 6 months later, if still unpaid, you pay an additional 5% penalty.
goatherd
15/1/2015
16:36
Pedro01, I am no way an expert on tax but if you Google "Tax penalties on payment made late" This will give you some information...in case an expert on here does not arrive in the meantime. regards opto
optomistic
15/1/2015
16:29
Does anyone know what the penalties are for paying your self assessment tax (inc CGT) late ??? My plans for paying off the taxman have been scuppered by HSBC changing the terms and conditions on the InvestDirect account, where you can no longer use the account as as "overdraft" facility. Sold sufficient to pay taxman on monday but now cannot withdraw the proceeds. Am reluctant to sell any more shares in this tax year if I can help it as will incur CGT for this year as well. Hoping to put off fateful day till next tax year. Anyone (??) know what the penalties are ??? Thanks loads in advance.
pedr01
24/11/2014
08:03
Thanks pvb; not bored, just not thinking or worrying about it!
asmodeus
23/11/2014
22:39
Whoops! He must have got bored by now - 27 Sep!
pvb
23/11/2014
22:30
amodeus, wrt ordinary dividends with a UK Tax Credit - There is NO tax "deducted at source". The dividends are just paid out by the company. They are, of course, paid out of the NETT profits of the company after Corporation Tax, which the company pays, not you. There is no tax to pay if you ARE a BR taxpayer, either inside or outside an ISA. But, outside an ISA, your total Gross income for tax calculations includes the 'grossed up' income from dividends - this is to establish what Tax Band you are in. If you are still BR band, then you pay no tax on those dividends. If in a HR band, then you will have to pay extra tax on dividends, outside an ISA. OK? Dividends from property companies are, yet again, different. I believe tax can be recovered in an ISA etc. With FID's it depends. In some cases dividends may have been taxed in the other country, or have tax taken off at source (foreign withholding tax). This may be partly or wholly relieved, depending on the arrangements between UK & other party. In practise, this may be easy, difficult or impracticable or impossible to implement! It all depends. And the rules will be different outside an ISA, inside an ISA or inside a pension. Over the last few years, even dividends not accompanied by a UK Tax credit - such as Jersey based ITs - are treated by HMRC as though they do come with such a 10% credit. If you fill in a Tax Return you will have to consult the information sheets. Putting overseas dividend paying ITs in an ISA does means you don't have to think or worry about the matter. Best of luck!
pvb
27/9/2014
18:03
For many years I have tried as much as possible to put offshore investment trusts, that pay dividends without any deduction of UK tax, in my ISA. But recently, various people claiming to know, have assured me that this is pointless for me, a basic-rate taxpayer, as dividends paid outside the ISA, with their "tax credits", are at no disadvantage. And some people say that the tax credit is purely notional. Others say that companies actually deduct 10% from the dividend before paying it! Others say they don't do this, they just pay corporation tax which entitles them to award this tax credit. What I would like someone please to tell me is when an offshore company pays divs. gross, do they deduct any tax whatever( apart from any "withholding tax on foreign divs), before paying the dividend? If not, then it seems to me that there is still about a 10% advantage in having gross-payers in my ISA.
asmodeus
13/9/2014
21:30
Hi, I wonder if anyone could help. One of my sons has recently started working offshore in the North Sea. He has a young family and is saving to buy a house. He is employed by a catering company and is a permanent employee, i.e. he pays PAYE and NI. Today he mentioned that he is paying £700 a month tax. My question is this: Is it possible for him to have some of his tax deductions paid into a SIPP directly by his employer? The object of this would be to use some of his tax deductions to build up his pension pot but still give him his normal take home pay. I would be grateful if anyone could help.
sandbag
31/8/2014
17:13
Hi, Hope someone can help. I formed a company last year on 18/7/13 and have been sent two corp tax returns 18/7/13 to 17/7/14 and 18/7/14 to 31/7/14. I do not understand why there is two. Do I have to prepare 2 diff accounts for the two periods and two diff payments. Thanks
red nutter
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