Tax Return - Page 3 - SV650.org

30-01-07, 01:34 PM

Quote:

Originally Posted by Luckypants

Quote:

Originally Posted by muffles

hey, while we're on this, do us PAYE people have any tax breaks accessible to us, similar to the way contractors fiddle everything? i'd like to get my own back if possible

Of course, you have the same personal tax breaks as anyone else. Anyone can claim legitimate tax reliefs, it is just that self employed folks have some opportunities to be more creative as to what constitutes a business expense, but they would still need to defend any claimed breaks to the revenue.

True, but you run up a fortune in accountants' fees arguing with the Government

Luckypants · 30-01-07, 01:47 PM

Quote:

Originally Posted by Ed

Quote:

Originally Posted by Luckypants

Quote:

Originally Posted by muffles

hey, while we're on this, do us PAYE people have any tax breaks accessible to us, similar to the way contractors fiddle everything? i'd like to get my own back if possible

Of course, you have the same personal tax breaks as anyone else. Anyone can claim legitimate tax reliefs, it is just that self employed folks have some opportunities to be more creative as to what constitutes a business expense, but they would still need to defend any claimed breaks to the revenue.

True, but you run up a fortune in accountants' fees arguing with the Government

Absolutely, often these things are a waste of time. However accountants fees are an allowable expense

If they were found to have acted unreasonably (in court) then you should be able to recover expenses.

However, I wouldn't bother and haven't for years.

30-01-07, 02:49 PM

so where can i find out about any available tax breaks?

Luckypants · 30-01-07, 03:10 PM

Quote:

Originally Posted by muffles

so where can i find out about any available tax breaks?

Start here robbing barstewards

30-01-07, 03:12 PM

Quote:

Originally Posted by muffles

so where can i find out about any available tax breaks?

On PAYE there are very few - they would have to be 'wholly exclusively and necessarily' incurred for your employment. There's prolly some guidance on the Inland Revenue website but they are hardly going to tell you how to reduce the bill, are they?

30-01-07, 04:20 PM

Filled one in for 15 years as my mortgage wasnt MIRAS when we actually got something back for not occuping council houses, one year had a tax code of 958 as theyd screwed up the previous two years assessments. Then two years ago they decided i didnt nee to fill them in anymore. Must say thats a relief, can never find where the wife hides the P60's every year

H

30-01-07, 08:22 PM

Quote:

Originally Posted by Ed

Quote:

Originally Posted by muffles

so where can i find out about any available tax breaks?

On PAYE there are very few - they would have to be 'wholly exclusively and necessarily' incurred for your employment. There's prolly some guidance on the Inland Revenue website but they are hardly going to tell you how to reduce the bill, are they?

my lack of effort resulted only in me finding out i don't qualify for working tax credit, whatever that is lol

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30-01-07, 02:49 PM	#23
muffles Guest Posts: n/a	so where can i find out about any available tax breaks?

30-01-07, 04:20 PM	#26
the_runt69 Guest Posts: n/a	Filled one in for 15 years as my mortgage wasnt MIRAS when we actually got something back for not occuping council houses, one year had a tax code of 958 as theyd screwed up the previous two years assessments. Then two years ago they decided i didnt nee to fill them in anymore. Must say thats a relief, can never find where the wife hides the P60's every year H