nickyp456

It would vary from 12-24 months but the 24month option is quite rare and will naturally cost more to buy cover for that period. Many providers insist on you having a mortgage and will determine the amount of cover you can have by a % of your mortgage payment or % of your income.

its also worth noting that not all providers will allow you to take cover when not linked to a new mortgage or will make you wait up to 6 months before you can claim (ie 6 months before you are given warning that you might be at risk of loss) whereas when linked to a new mortgage this can be as little as 2 months.

The percentage of your income that you pay away in tax depends upon your total income - there is no single 'rate' that covers everyone. The method of calculation is, though, reasonably straightforward. Income tax rates change each year, but for this year the calculation is as follows.

Think of your earnings as a tower of children's building blocks. The lowest block is where your earnings start, and is up to £6475 high - and you pay no income tax at all on that figure - if that is all you earn: no tax to pay. The figure of £6475 is this year's 'personal allowance'

The next block is up to £37,400 high. All of your income sitting in that block is taxed at the 'basic rate' of 20%. For example, if your total earnings are £16,475 then you pay no tax on the first £6475 (which sits in the lowest block: your personal allowance). This leaves another £10,000 which sits in the 20% block, leading to a tax charge of £2000.

The next block - the third one up - is the higher rate which goes right up to £150,000, and earnings which sit in that block are taxed at 40%. If any of your income sits in that block you are known as a 'higher rate taxpayer'. If you earn more than this you will pay 50% on the extra.

Your personal allowance is in practise spread throughout the year, and the pay as you earn system (PAYE) is designed to equalise your tax across your weekly or monthly paydays.

Careful! This simple example by no means covers all of the possible options. Your personal allowance may be different if you have a disability, or are over 65 years of age, and it gets more complicated if you have income from investments or savings, for instance. And do not disregard National Insurance contributions, which are really a tax on income.

Follow this link for more information: http://www.direct.gov.uk/en/Nl1/Newsroom/PreBudgetReport2009/DG_183037

And the 'Why?' To run the country: police, prisons, armed forces, education, health services, politicans' expenses....

For most people, in the tax year 2010-2011, the personal allowance is £6475, unless you are between 65 and 74 in which case it is £9490 and if 75 and over it is £9640. If you have an income of more than this amount you will have to pay income tax.

There are some special rules for married couples where one spouse was born before 6th April 1935 or where you are registered blind.

Generally speaking any income earned in the UK must still be taxed in the UK but there are sometimes double taxation treaties in place. In this instance you would be best served to contact HMRC to establish your UK liability and then the US IRS as you might still have a further tax burden as the US system tends to look on a global basis.

Paul is right in his assertion that you are a limited company director.

the reason for this is that the limited company rules mean that you and the company are separate legal entities (hence the limited liability status) and so when determining taxation, your gross profit after all allowable costs will then be liable to corporation tax.

you will then declare a dividend from your profits and the corporation tax paid will satisfy your personal income tax liablility at the basic rate. if your dividend income, when added to all other income, takes you into the higher or additional rates of income tax you will then pay the additional amount of tax due so that you have paid the correct amount of tax.

the notional higher rate when you have dividends is 32.5% and 42.5% for the additional rate which broadly equates to the 40% and 50% standard income tax rates.

you can of course reduce your liabilities across the board and still benefit by making an employers pension contribution to you as an employee as this is treated as a business expense and will therefore be exempt from corporation tax.

feel free to get in touch if you want to talk this through more.

if however, you are not a limited company but instead in a partnership or sole trader, you and the company are regarded as the same entity and therefore corporation tax isnt due only income tax and class II and IV national insurance.

there are many ways to legitimately reduce your tax burden without leaving you worse off, i have been able to successfully improve my clients' financial position after carefully analysing their needs and structuring their income to give them what they need for now and still plan for later.

it can be a complex matter and not easy to try and cover off in this type of forum but hopefully these initial answers will give you the incentive to look at your position in more detail.

The answer here is that anyone can get a tax rebate as a rebate simply infers that you have somehow overpaid.

if your income - salary, savings interest, share dividends, rental income (basically all forms of income) falls below your personal allowance of £6475 this year rising to £7475 from 6-4-11 you wont get a rebate as you shouldnt have tax deducted. if you fit into the above category you should be able to claim gross interest on your savings but share dividends are the anomaly as you cannot reclaim the tax on them as this was removed by Gordon Brown when he was chancellor in 1999.

i hope this has answered your question, if there are further points, feel free to post more or email me...

Let me guide you to the website, http://www.hmrc.gov.uk/inheritancetax/pass-money-property/exempt-gifts.htm which will give you simple info on this area.

The main problem with answering this question is that are many more questions than answers. Such as "are you the person receiving the gift or giving it". "What is your tax status?" and what is the inheritance tax situation?", so sorry if it sounds like sitting on the fence.

Unfortunately not, but there have been initiatives available in the past from Business Link, there website is http://www.businesslink.gov.uk/bdotg/action/home . Unfortunately, the coalition governments cuts have ensured that there funds are not as generous as they have been in the past to help with this type of thing