Chun Ho Chan
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partnership tax return
I find that the SA800 has three spaces to fill the individual details. How about if the business more than 3 partners? Do I just print out more same pages of filling the individual details? Thanks. -
SIPP
May I know if I don't have 10 years NI contribution, then I will don't have any state pension. And if I also don't have any income after I retire, but I deposit £2880 into SIPP, then I can get £3600. Then do I need to pay tax for this £3600 earning as it had not over £12570? Thanks. -
ISA account question
If I have an ISA account, and I know the ISA limit is £20,000. So if I put £20,000 into a fixed ISA account. After a month let say it give me £100. Then my ISA account will be £20,100. Then it will over the £20,000. Is it ok? And then as the next interest will come from the amount more than £20,000, then do I need to pay the tax for the interest from the extra £100? Thanks. -
Income tax loss
May I know if I use the cash basis, and at the beginning my business as i need to invest a large amount of money, let say buy a business vehicle, buy tables and chairs, so that the expenditure is much greater than the income in the first year, can these expenses carry to the next year and claim it later? Thanks. -
income from saving interest
I have a job with the annual income 12300, already paid the tax and NI when received the salary. And also have interest from saving account about 4000 in the tax year. Do I need to register the self assessment and do the tax return for this interest income? If yes, what I need to do for the registration? -
Capital gain tax and capital allowance
I know that the assets can use the capital allowance with written down allowance. If a business car is bought at 10000, if I apply the allowance in the first year 18% and there is 8200 remain in the main pool. And in the profit and loss account suppose I have written it is depreciated by 1000, it will remain 9000 in the balance sheet. If I then sold it at 8500, what will it affect my capital allowance and the capital gain tax? -
Traditional accounting and cash basis accounting
As a sole trader, I will invest much of money to set up the business. It will makes the loss more than the revenue. Is it only can b/f this loss to the next year in traditional accounting? If in the beginning I choose to use traditional accounting, and if my turnover keep lower than 150000, can I change back to cash basis accounting later?