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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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selling holiday home -CGT implications for delayed completion
We may be selling our holiday home (overseas - double tax agreement between countries). Calculating everything in GBP there will be a significant capital gain. The buyer wants to exchange soon, with a completion delayed until Summer 2027. Both sets of (overseas) lawyers are negotiating a staged payment schedule. Obviously…
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2025/26 Self Assessment Tax Return
Hopefully the HMRC system will work soon to be able to make some progress. Well done to anyone already logged in I keep getting busy message so far.
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self assessment newbie - underpaid tax section
hi. I've been told to complete a SA for the first time, for 24/25. I'm employed and only have bank interest to complete I've completed ok. But I'm confused on the underpaid tax included in PAYE coding section towards the end. It says enter the amount of estimated tax for Apr 24-Apr25 to be included in your PAYE code for…
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Unexpectedly paying tax
Hello, I'm a new user here and hoping someone can help me to clarify my tax situation; I receive a local government pension which will be £9972.76 for the 26/27 tax year (increased from last year's £9707.67). I also have income of £6,154 for 25/26 from savings interest. I've never paid tax as my total income is within my…
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Will HMRC Pay Me Interest?
Moving to Self Assessment for the first time in Apr this year, backdated to the FY 24/25, having submitted the 24/25 return I immediately paid the POA for FY 25/26. I then submitted my 25/26 return. HMRC are now showing that I owe them £1937.20 to be paid in July 26 and they owe me £2840.20 which is shown as pending in…
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Capital Gains Tax Reporting.
In June 2025 I completed the sale of a property in Spain & submitted the HMRC form for CGT reporting within a month as required. I'm now doing my 25/26 tax return......do I need to include the CGT reporting again ?
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Government Gateway check progress, what's after in progress?
I posted a letter to HMRC. The status online in the gateway account has gone from 'received' to 'in progress'. Does anyone know what the next stage of the progress is? Thanks
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Self-employed status with HMRC if off work for more than a year?
I am a self-employed sole trader and have been for many years. Last year in October, mostly for health reasons, I started a sabbatical. At the time of posting, May 2026, I am still off work and living on savings. If I remained off work and did not earn anything at all in the current 26-27 tax year, what would happen to my…
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Self assessment - charity donations
Hi all, hopefully a simple one. The HMRC say: https://www.gov.uk/donating-to-charity/gift-aid You can include: all donations made in the last 4 years I am trying to work out what is meant by the 4 years. 4 years up to the date you submit your self assessment? 4 previous tax years? Etc Another website says: You can claim…
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Your PAYE Income Tax estimate
I'm about to write to HMRC for the fourth time about tax issues from TY 22/23 onwards for both myself & wife. Whilst double checking our Gateway accounts I noticed that both specify…. 'We're updating your income tax estimate. It will be ready tomorrow.' Now, I'm thinking that if this is the case I should hold off writing…
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Is tax deducted via PAYE when put on self assessment?
If you are put on self assessment how does that work with P.A.Y.E.? Will you continue to have tax taken from your salary as calculated by HMRC using your full personal allowance and then this figure is deducted from whatever your final tax bill is after you finish your self assessment? E.G. At the end of a financial year…
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HMRC tax bill for previous year or tax code change
Hello, My retired dad has had a letter from HMRC saying he owes tax for the 24/25 year for updated bank interested as they estimated too low. It seems he has been charged for all joint interest not just 50% and I'm looking into the details of that. This letter says the tax owed needs to be paid as a lump sum. Since then…
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Self assessment first time
When providing details of savings and investments. Is it just tax year totals that are required or more details. For examples savings interest, a total for year or list amount by each individual savings account with details of the acount numbers and bank details. Will they ask for this detail later or not bother. Is it the…
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HMRC over estimate of untaxed interest
I’ve just received notification of a change in tax code for the current year, due to their estimate of untaxed interest. There is also a small amount of tax to pay from the previous tax year. My issue is that their estimate is way over the interest earned this year (mainly due to me using my ISA allowance and a reduction…
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Reducind tax liabilities on contract work after retirement
I am possibly going back to my old job after nearly ten years of retirement to do contract work for a couple of years. As I already receive over £30k from my pensions and obviously pay tax, how do I reduce my tax liability as I would be receiving well over the next tax threshold of £50k with this new income? Any help would…
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Tax relief for laundering & professional registration fees
Hi all, Just filled out the tax relief form on my gov gateway account for tax years 2024-25 and 2025-26, for tax relief on laundering uniform and for professional registration fees. I started completing it for the current tax year, but it would only allow me to add one employment for this year (I was able to add my 2nd…
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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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Tax adjustment on first drawing a pension.
I've been told by a pension company that upon retirement, and starting to draw a monthly pension income, the initial payments might be net of the emergency tax rate. They said this depends on how quickly HMRC respond to their enquiry with the correct tax code. If drawing the same amount each month, does anyone have a…
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Savings interest - self assessment
I know that if you have more than £10K interest on savings, you should be completing a self-assessment tax return. Is this just taxable savings interest? I have less than £10K taxable interest, but when you add the ISA interest it goes above that figure.
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Gifts from Surplus Income
I’m currently assessing my father’s surplus income in order to establish how much he can give away as gifts made from surplus income which will be exempt from inheritance tax. I’m unsure whether the small gifts of up to £250 per individual and £3000 to a different individual should be treated as coming from his income or…
