Did a search and found a topic a while back about tax returns etc.
Q is, anybody able to recommend someone down south who is familiar with those tricks for those in HM Forces ?
Went thro MoD Brochure but would much rather go on personal recommendation.
PM if you want. Thanks.
FFP
Cambridge Crash
25th Nov 2004, 13:35
Unless your financial affairs are particularly complex, I suggest you use the 'Revenue' helplines. Yes, that is oxymoronic...usually. In my experience - 2 rental properties, overseas posting &c, - the people on the helplines have been very helpful. They also provide a number of brochures for people in HM Forces. They also rang back to say when Mrs Crash's return had been processed - because of a fault with the on-line system. Private Tax advisers charge like wounded bulls (although such advice is, of course, tax deductable - ie deductable from gross income, not the tax paid). Alternatively, buy any one of the 'self-help' books (reprints in 'simple language' of the advice give in the IRD pamphlets!).
There is a common misconception that we in the Services shouldn't have to submit a tax return, because of PAYE (previous threads have blamed Handbrake House for this - why???). Only you know your complete financial circumstances - eg receipt of rents, dividends, trust disbursements. Why should the RAF know of this? This is the first year that I have received a small (£34) bill from IRD - after receiving a large salary and rent from 2 properties. I run the books for our houses just like a non-public fund - except that I make a loss, of course! I have to thank the old chap who was the NPF accountant at Lyneham in the mid 1990s for teaching me double entry accounting.....Yawn. What was his name?
There are few work-related expenses that we in the Services can claim for, apart from duty mileage in a pomv (not sport, commuting or medical runs), professional memberships and additional Free-Standing AVCs. The comptroller of Capital Gains Taxes also allows personnel in the Services to declare a non-resident property as the principle place of residence if you are in quarters or in SSSA, on the basis that you would be living in it, if you could. That saves you being taxed at up to 40% of the profit on the sale of that property.
This advise is free and does not constitute advice given in accordance with the Financial Services Act .... blah blah blah!
Cantab Crash