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over 4 years ago
NHS Pensions - Annual Allowance Excess Charge and Scheme Pays - very complicated but how does b/f unused relief affect matters?
I don't think I am alone in finding the whole Annual Allowance Excess Charge and Scheme Pays rules (client has NHS pension scheme) absurdly complicated and the guidance unclear on Gov.uk (for example...
Getting through to HMRC on the telephone in 2015: Report your problem
Are you having any problems when contacting HMRC by phone? Please post a comment below to tell us about your experiences, indicating: the name of the helpline the telephone number an outline of...
Quarterly payments of PAYE/NI to HMRC
A client employer has been paying PAYE/NI quarterly as a smaller employer and following the guidelines on hmrc.gov that say: Smaller employers with estimated monthly payments to make of less than £1...
How long is it taking for HMRC to reply to post in 2015?
What is your experience of HMRC’s post response times in 2015? Does the turnaround time vary depending on the type of tax, letter or form? How satisfied are you with the quality and accuracy of the...
New Enterprise Allowance - taxable or not?
over 4 years ago
A new client has been receiving New Enterprise Allowance. Please can someone tell me (with authority for the answer) whether it is taxable or not. Depending on who I ask and where I look, the answer is different. Gov.uk says that 'any money you get does not affect income tax' implying that it is tax-free. However, BIM40401 says that it is business income - how then can it not affect income tax? Which is correct please?
over 2 years ago
Isn't NEA payable to the unemployed person who starts a new business after being on JSA for six months? I'm not sure why you might think it would be subject to CT - it is not company income. HMRC is presumably telling you that the individual has to report it as miscellaneous income on his SA return.
If the new business is in a company, any of the NEA that the claimant pays into the company would be capital, wouldn't it?
6 months ago
in reply to
It's a grant paid to the business. Not subject to income tax.