stevewool Posted October 19, 2014 Author Posted October 19, 2014 Again thanks for the quick reply, I have worked from 17 years of age, just was unemployed for 6 months in all that time, We was married here in England and we will have our own home here which will be rented out to my daughter at a fixed amount that will be below what we are entitled too before paying tax regards steve Link to comment Share on other sites More sharing options...
Methersgate Posted October 19, 2014 Posted October 19, 2014 I am suddenly very interested if K can get a small pension of her own after I die. Was not aware of those rules. Now married yet - must hurry! Thanks! 1 Link to comment Share on other sites More sharing options...
stevewool Posted October 19, 2014 Author Posted October 19, 2014 I am suddenly very interested if K can get a small pension of her own after I die. Was not aware of those rules. Now married yet - must hurry! Thanks! Snap ,Amazing what we can learn from others who have the time and the patience to help 3 Link to comment Share on other sites More sharing options...
Malcolm Graham Posted October 19, 2014 Posted October 19, 2014 Sorry I disagree with you Jack. And I've just spent the last two months on the phone with Inland Revenue. The tax free allowance is 10500 for those born after 1948. They say I owe them money which is why I've been on the phone. Never cash shares in when you're working it affects your tax code. With pensions the new rules will only affect those in countries who do not have the same rules as the EU and other countries who have agreements in place the philipinnes has an agreement 1 Link to comment Share on other sites More sharing options...
Markham Posted October 19, 2014 Posted October 19, 2014 We ought to encourage our friends and relations in the UK to vote for a party that is (currently) promising to raise the tax threshold; that'd be either Tory or Ukip both of whom are suggesting a threshold of £12,500. Link to comment Share on other sites More sharing options...
Methersgate Posted October 19, 2014 Posted October 19, 2014 On a point of information, the increase in the tax threshold to where it is now was a Libdem policy in the first place - not a Tory or a UKIP one. Link to comment Share on other sites More sharing options...
Markham Posted October 20, 2014 Posted October 20, 2014 On a point of information, the increase in the tax threshold to where it is now was a Libdem policy in the first place - not a Tory or a UKIP one. Yes, Andrew, I am aware of that but I am talking about the party pledges for next year's General Election. I am not aware that the Lib-Dems intend to match, or surpass, the Tory and Ukip pledges but maybe you have better information :) Link to comment Share on other sites More sharing options...
Jack Peterson Posted October 20, 2014 Posted October 20, 2014 Sorry I disagree with you Jack. And I've just spent the last two months on the phone with Inland Revenue. The tax free allowance is 10500 for those born after 1948. They say I owe them money which is why I've been on the phone. Never cash shares in when you're working it affects your tax code. With pensions the new rules will only affect those in countries who do not have the same rules as the EU and other countries who have agreements in place the philipinnes has an agreement Like most things were get sent, Much is out of date before it leaves the IR Offices. On reading this I will post this Most up to date Information for those that are Interested. I have left it a link so not to bug those it will not concern. As I said, I always stand to be corrected. But my 2014/2015 tax Code number did not reflect this figure of 10.500 and here it may surprise you, that it states here it is not that, so maybe even you my friend has a somewhat ambiguous answer to your Question from the IRS. :unsure: But and there is always a but it all depends on your Total earnings, In One hand out out of the other before you have even Touched it. anyone that can understand The rules Fully, should be the Chancellor. https://www.gov.uk/income-tax-rates/personal-allowances Morning All :tiphat: :) JP Link to comment Share on other sites More sharing options...
chrisandging Posted October 20, 2014 Posted October 20, 2014 With a mix of pensions and a UK rental property I have to do a tax return each year. I do this online. You can print and save the completed form or save it as a PDF. The income from the rental varies, ie, if a tennant leaves or repairs are required. My tax code is adjusted each year to try to pay the correct tax in the following year. Not been successful yet, always need to pay extra on Janurary 31st every year. When I left in 2006 I had to process papers so that my rental was paid gross by my letting agent. Without these forms they would have had to withhold 20%. Not sure how yours would work out being a private deal between you and your daughter. Link to comment Share on other sites More sharing options...
stevewool Posted October 20, 2014 Author Posted October 20, 2014 When I left in 2006 I had to process papers so that my rental was paid gross by my letting agent. Without these forms they would have had to withhold 20%. Not sure how yours would work out being a private deal between you and your daughter. there will be no rent she will just look after the house free of charge i think :whistling: :whistling: Link to comment Share on other sites More sharing options...
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