 Should I pay taxes if I am a full-time student working part-time from home? |
Hi,
I am now a full-time postgraduate student, I was working during the summer and my employer was paying my NI and taxes.
Now the university is paying me a scholarship that ... |
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 Why don't they increase taxes on beer like they do on cigarettes? |
I’m not a smoker or anything, but I feel that they reasons they give for raising taxes on cigarettes would work on beer.
Examples:
It would stop kids from developing bad habits.<... |
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 Can you write off online casino/gambling losses on your taxes? |
| a friend of mine asked me this question and I admit I dont know - I know you can write off legal losses like from vegas and stuff - and Im sure the tax man wants to you report any winnings from any ... |
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 About bush and his stimulus my girlfriend and I were sitting here estimating our tax refund ? |
| and how much we would get back this year. and she noticed that they ask how much did you get back for the stimulus last year. and she put in how much she did then she found out how much she would get,... |
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 How much will it cost me to hire someone to do my taxes? |
| I would lke to get my taxes done professionally because I worked in 2 states this year (I had no idea if that would complicate them). The past 2 years I had them done at work for free by a coworker, ... |
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 If my ex husband hasn't paid child support since March of 2007 does he still get to claim her on his taxes? |
| He hasn't paid since March of 2007, but in my divorce decree it says he gets to claim her, but the IRS says whoever pays 51% of her support gets to claim her? Which one do I have to go by? If ... |
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 I lived in Indiana until December 1st, 2006 then moved to Maryland. Where do I file state taxes? Both states?? |
| I worked in Maryland the last 3 weeks of December and live there now. I included a W2 from Maryland in my Federal Taxes.... |
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 I am self employed and have my unique tax ref number. Can i raise an invoice with VAT displayed on it? |
| I was asked for a VAT No by the company I recently did the job for but when i told them i only have Unique tax reference No rather than VAT Reg No, i was told i need to re-write an invoice and musn�... |
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 The company I used to work for is withholding my w2, is that legal? |
| I called my former employer to ask about my W2 and to make sure that they had the correct address to send it to. The person I spoke to told me that the company was withholding my W2 because I owe $40... |
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 Has Palin taken a stand for or against the Fair Tax? |
Additional Details
Please make sure you are in full understanding of the fair tax when you post your reply if you choose to post anything but a yes or no answer. Do not post what you ... |
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 Can an employer deduct taxes from cash wages? or basically once hes payed you cash? |
| So my bfriend and couple friends has been working at a company and when they first started, they began to pay them with cashiers check "under the table" [aug/sept]. Now they are doing &... |
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 Is 5,100 income per month enough to live on? |
for 2 adults and a baby?
Our rent is only $533.... |
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 If I am single and made about 11K income last year , paid about 300 in income tax,? |
| will I get one of those rebate checks? How much? I really need the money to get some new contacts as I can't afford to buy any new ones, I want to use the money for an eye exam and contacts ... |
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Willow Jane | What do I have to do to start paying tax on the interest on my bank accounts? |
When I stayed at home to look after my kids, and therefore didn't pay tax, I didn't have to pay tax on the interest I earned on my current and savings accounts. I have now gone back to work. Now that I am a tax payer, how do I reverse this? Do I need to go to my bank or get some form from the tax office? Is there something I can fill out online? Really not sure what to do. Please help. |
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tringyokel
 |
It seems that not many know how the system works. Ordinarily tax is deducted at source by the bank but I assume you have previously signed a form R85 to have the interest paid to you gross.
You now need to contact the bank and tell them that this is no longer applicable. They will then start deducting tax again.
Some banks will require you to fill a form in for them but many will act on a letter. |
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CLIVE H
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Interest earned from savings, sometimes called 'unearned income', is taxable at the rate of 20%, so that if you earned £100 in interest, the taxman wants £20.
The best way of sorting this out is to contact your tax office. There should be a contact of sorts on your pay-slip. If not, then your firm will know. Otherwise you can just visit the local tax office in your town which is usually located in the town hall. If not, it's in the phone book.
In the case of such as Income Bonds they send me an annual statement which shows how much interest was paid. It's dead easy, using this to work out the tax and the taxman usually does all the hard work. All i ever do is fill out the form which they send.
You can do a tax return online if you like. Just go to their website and sign up etc.
Free UK PAYE Tax calculator 2007. Updated for 2007 budget ...UK PAYE Tax Calculator. Calculate earnings, income, wages, salary, earnings and tax paid for free.
http://www.listentotaxman.com
HM Revenue & Customs Self Assessment Internet pages. ... Did you know that you can complete and send back your Tax Return over the Internet? ...
http://www.hmrc.gov.uk/sa |
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The Badger!
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whether your working or not your savings are subject to tax on interests but you dont have to worry about paying tax on interest earned as its deducted at source before you get the interest payment. its all taken care for you. |
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Ikey
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Normally the bank will deduct tax on interest automatically, you will show the full amount earned & tax paid on your annual tax return. Just check that the bank is deducting & relax. |
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futuretopgun101
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All tax is taken automatically. Banks will take off the tax before giving it to you, just like your wages. |
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mahi
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A far as i know, your bank will automatically pay tax on the earned interest to the HMR&C |
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Onestep downfrom God
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I assume you've certified yourself as a non taxpayer. Just inform the bank that this no longer applies and they will start to deduct tax. |
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Phlodgeybodge
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As far as I'm aware the bank will notify the tax office (and you) of the interest applied to your account.
Usually the bank will automatically pay it to HMR&C on your behalf and show it as a debit on your statement.
If they're not collecting it as you think they should - then notify your tax office directly and advise them - it's always best to be up front with HM - less chance of them making a mistake if you're on the ball!! |
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