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Cutting Tax: Discussions that will help you
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…
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Capital gains tax whilst living abroad
My partener has sold her UK house which is her second property in the UK ( she still owns the second house).. She lives in Spain and has done so for about 10 years. Is she liable for capital gains tax in both countries? We have worked it out she will have CG tax liability of about 4K. Thanks
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Wrong tax code overpayment
I have just looked at my March pension figure on my personal tax account which was posted today. Even though it is paid on the 28th of the month it is generally submitted to HMRC in the first week of each month. The tax deducted was way above what I expected so I contacted my pension provider who said my tax code had been…
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Tax Return SA100 - Commercial software?
I am registered for self assessment as I'm lucky enough to have interest/dividend income of £11000 . Filling in the SA100 in the past seemed easy enough but now it's getting complicated....for example I have some Banco Santander shares and divis were over £500 and a spanish tax was deducted. Also another share holding had…
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Declaring Bank Interest on Self Assessment
It is my understanding that the first £1000 of interest is 'tax-free'. Yet, when entering my small amount of interest (c.£250) into my Self Assessment, it is taxed. How can I avoid this?
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Trust and Estate Tax Return 2026 SA900 2026
The discretionary trust holds cash in a non-interest-bearing current account. The first page above only has placeholders for the tax reference and the date. There appears to be no place to enter the name of the trust. Is this correct? Otherwise, there are no yes questions over the 12 pages, and I have signed at the end.
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Do I need to have software?
I am a registered partnership with my wife and have been trading on eBay for several years. I fill out a partnership tax form every year and want to know how the new tax reporting will effect me. I use a simple spreadsheet to record income and expenditure. My turnover is less than £20,000 per year with about a 15% profit.…
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Updating noncoded income to avoid need for SA payments on account
My wife and I are both retired with PAYE-coded pensions, and receive untaxed income (interest and dividends outside ISAs). For historical reasons, we still do self-assessment, so just report that income and pay the tax due at year-end rather than get it taxed during the year by PAYE adjustment. As a result, we haven't…
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Council tax discounts for carers
after reading loads of posts, gov website, getting advice from carers uk I believe that because my mother, who has Parkinson’s dementia and is severely mentally impaired, lives with me and my husband, and I am her full time carer (24/7 as she cannot walk, talk, feed herself, or do anything) then we are entitled to…
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sending ' signed for ' mail to HMRC
Does anybody know if a signature is still provided when mail to HMRC is collected from the Royal Mail depot at Wolverhampton ? My understanding is that a driver from the Wolverhampton based company that scans mail for HMRC will sign for collecting a sackload of it from the depot. Thanks.
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CGT - finding fund values from 2005
I sold some Jupiter Responsible Income funds recently which were originally Old Mutual Equity Income Fund when I acquired them in 2005. I've googled and it says I should be able to find out the historical price on Trustnet or HL but I'm not having much luck with either website. Can anyone tell me how to find out this info?…
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Where do previous payments on account appear on current year tax return?
I'm keying in figures into my 25/26 personal tax return having made 1 payment on account for that tax year already and another due in July. In the main self assessment (right up to the calculation and "submit" button), I don't see either of those 2 payments on account featuring anywhere, and instead the balancing payment…
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IHT Gifts From Income - Tax Refund and Use of Excess Income.
I have started at the beginning of this tax year to compile records of income and spending in order to gift money from excess income to my daughter in March next year. I have a couple of questions that have arisen during my first two months of record keeping: Does an income tax refund from the last tax year received this…
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Tax on compensation received for complaint
If you make a complaint to a financial institution which they uphold and pay compensation in recognition they haven't performed as expected. Is the amount received taxable? Thank you
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Pay rate is unclear?
Hi, Next week i am starting a work contract. Full Time Its 3 month contract, inside IR45. They said it was £45/hr, but then sent the attached wage breakdown. The recruitment consultancy are dealing with my pay. Do you know how much i will receive into bank account each hour? (or week, etc). It looks like i am paying into…
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Long term planning - reduce tax bill
Hi, Is there anything further that I can do to further reduce tax charges? Currently I do the following: Put the max £60k per annum into my workplace pension Use my full £20k per year ISA allowance Give my wife any spare cash to put into her ISA Put the maximum £9k p/a into my chidren's ISAs. The idea being that they can…
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Software advice for HMRC MTD for Landlord
We're a small landlord. We usually use our accountant to file our annual return. With the new Making Tax Digital system we need to do quarterly updates to HMRC. We also sell enough on eBay to need to include that as well. Can someone point me to a software that is reasonable cheap (or free) that is MTD compatible that we…
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Have I got this right?
Maths (and tax matters) are not my area of expertise. Am I along the right lines in my thinking, please? Higher rate tax start to become payable when income hits £50,271.00 onwards to £125,140. A total income of £50,270.00 would remain in the 20% tax bracket - for now. 50,270/12 = £4,189.16 per month, pre tax. 20% of…
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altering accounting period
Why would a Ltd Coy consistantly over the years, put back this date by ONE DAY. What benefit is there?
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Traditional accounting or cash basis.
I have filled in my self employment self assessment and there is a question which is optional so I left it blank but I am still curious. It is asking if I used "traditional accounting or cash basis". I did Google it and it appears traditional accounting is mostly used by large companies, I am not. I am part time and net…
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EMPLOYED BY COUNTY COUNCIL AND TAXED ON MY MILEAGE PAYMENT
Hi all new to the forum but need some advice, I work for my local county council and use my own car to visit local schools in my area, I put in a mileage claim every month but it appears on my payslip as part of my monthly pay which is taxed, how do I know if I am getting the tax relief on this and how to claim it back if…
