Cutting tax

To help you find the Cutting Tax threads quicker and easier we're collating our previous sticky/pinned threads into one single post. Cutting Tax board: Tax instructions - please read Useful Websites TaxCalc alternative? How does the Taxman Know? Inheritance Tax Planning Useful Tools to Help With Taxes Washing Uniform at…

My husband has just received a simple assessment from HMRC He only has a State Pension and interest from savings as his income. His total income for the year of 2025/26 is just over £14,000 However he has been told that he owes £79 in tax This seems really harsh. Does the Starting rate for Savings not apply to people on…

I currently receive a DB pension and drawdown a DC pension so annually I receive just under the 40% tax threshold. I will receive the state pension at aged 67. My DB pension and the state pension together will be just about on the 40% threshold. At this point I'll be left with a DC pot of approx £50k. Is there anything I…

Last year my personal tax was £10k so this January my 1st payment on acount was £5k, when tax return filed in July total tax for the year was only £5.5k Accountnt sent me a tax overview showing I had to pay the remaining balance (£500) in Jan 27 approx 2 weeks after the 31st July I got a letter from HMRC saying I had…

Hi there, I have prepared my 25-26 tax return (not filed yet) and it turns out that because of my dividends I received my PSA is £500 instead of £1000. The dividends are small and just under £300 so tax free but prevent me from getting the full PSA. I am now reading that it seems to be possible to make a gift aid donation…

Hi all- life was going well unitl it wasn't - i have residential property that i have a joint mortgage with my ex partner - we have basically agreed what I need to buy him out - I moved out of our joint home - and live now at my sons until we can I can get ex paid off. I also own a buy to let property, that is becoming…

Hi all, Looking for some advice on my 2026/27 tax situation. My earnings ( estimated due to unknown potential overtime / bonus payments ) are looking likely to come in about £2K above the 40% threshold. On top of this interest from savings for the tax year will be at least £1700 Couple of questions…. 1. If my income does…

My wife has received a simple assessment that is completely up the creek. It includes two bank accounts that she doesn't have, and another bank account that she holds as a bare trustee (and which is included on the beneficiaries' tax returns). On the other hand she gets income from a trust fund, which is mostly taxed at…

Has anyone tried any of the 'free' MTD return software yet to actually submit a real return? Are any of these actually free or will that turn out to be a bit of a marketing lie. I am going to need to do one of these before the 7th Nov deadline.

Hi My parents have a substantial amount saved over the last 40 years in an ISA to cover any possible care home needs for both of them. They are currently gifting to grandchildren from surplus income. If one or other needs to move in to a care home will the care home fees count as expenses out of income and thus reduce the…

Please feel to move my post to the right thread. I would like to see whether this UK Residential property CGT calculations is correct before submitting to HMRC. Breakdown of calculations: 1. Total Capital Gain Sale Proceeds: £xxx (edit removed figure) Less Purchase Price: -£xxxx (edit removed figure) Less Total Allowable…

If a higher rate tax payer donates goods to a charity shop can the tax payer claim back the tax difference between basic rate and higher rate. I want the charity to claim the normal basic rate but how do I claim the incremental difference on the self assessment form. The charity has notified me how much has been raised…

OK, so this is a bit complicated (and sorry it sounds like a first world problem) but I will try to keep it simple. FiL called a few weeks ago concerned that there will be a change to IHT rules in the Budget at the end of this month. (Please do not discuss what may or may not happen in the Budget as that would be…

Is anyone still waiting for an update on last years tax position 2025/2026.If I go on the gov site it just says not worked out yet is this later than usual?.Im not self employed or filling out self assesment

If you gift someone, say £20k, from a joint bank account, for IHT purposes, is it classed as £10k each?

I know work pensions and state pension income would count towards your 'income' for the purposes of calculating excess income, but would income from benefits count too? Benefits such as Pension Credit and Attendance Allowance?

I recently did my first self-assessment, which I only need to do to pay the child benefit high income charge (as I can't do this via PAYE for reasons I won't go into). At the end it told me the amount due, which was about what I expected. I've logged back into my HMRC account to sort out payment, and it says the current…

I have a regular job and then self employed income too as sole trader. Income from self employed is about 25k from tax year. Overall income from both is over 100k. My understanding is I do not need to be VAT registered as sole trader as less than 85k per tax year earned as sole trader. If I have expenses, so for example a…

Hi, (Not to mods: I posted something similar to this back in January, but this time I have a bit more information and would like to keep this as my new post.) I’m hoping someone can help me understand my position before I speak to HMRC again and/or take formal insolvency advice. I’ll try to keep this as clear as possible.…

This might be on the wrong board as it is about paying tax rather than reducing it so please move it if it would be better elsewhere My mother, now elderly, has got in a bit of a mess and confused with her income tax the last couple of years so has asked me for help. She receives a state pension which is in excess of her…

hello I do the book keeping for a relative sole trader business. For 25/26 year, we had an accounant submit the SA return but this year I will be doing it as due to an injury, the workload (and income) has dramatically reduced and we are trying to reduce financial commitments - its a quite a simple SA using an online…