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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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Backdating a Council tax single occupancy discount
Hi all, I would like to solicit your opinions and advice on a situation regarding the council tax sole occupancy discount. I am relatively new to the UK. I arrived from France in March 2022, on a company sponsored working visa without kids or other family member with me. When I moved in my rented flat, I knew I was subject…
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VAT on Legal Fees
Hi all, We're transferring the title on a small parcel of land. The solictor has provided a quote for the paperwork of £300, with the VAT being an additional £160. Is this correct? I've tried googling the VAT rates for such services but am hitting a wall. Any advice is appreciated
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Top Slicing Relief Problems
I have spent weeks trying to determine the annual tax due for 2023/2024. Because a bond was surrendered, I have been unable to determine the precise sequence of the calculations. I have seen many examples, including some on the MSE site, but none seem to reflect my situation. Details are as follows … Income - £6,395…
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Tax treatment of Teacher's Pension Refund due to Goodwin Ruling
Back in the day, male teachers would have a widow's provision on their pension, but married female teachers didn't have equivalent widower's rights. Then things were changed, but if you had been working before the change date, you could pay to have service pre-change counted towards a widower's pension. The Goodwin ruling…
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Higher child benefit charge.
Hi guy. I am an employee who is having a nightmare with the tax office. In 2022 to 2023 I have to pay the higher child benefit charge. My calculations are. Wage 52958.00 minus pension contributions of 1695.00. Leaves 51263.00. The higher tax charge being 1% for every £100 over £50000 means I have to pay 12.63% of 2636.00…
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VAT on building work for disabled access
We are due to have our kitchen extended shortly due to my wife needing a wheelchair now, reading the government guidelines we are not vat exempt but the work is being done to make the kitchen more suitable for her as she would not be able to turn her wheelchair with the current layout. Bathrooms are eligible but they can…
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HMRC return 23/24
Another self assessment done. Now to nervously wait for the next couple of weeks. Judging by last years bank holiday involvement, we could be looking as early as 18-19th April this year.
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tax code changed due to untaxted interest on savings and investiments
My tax code has been dropped by a small amount approx £100 due to untaxed interest on savings and investments. In the last tax year I put a a large portion of my wages into my pension by salary sacrifice so as to bring my taxable pay down to the personal allowance of £12570 ensuring I paid myself above the living wage rate…
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Personal tax allowance
Hello I have recently taken early retirement and cashed my personal pension pots I par basic rate tax on some and I have a personal allowance on others. My wife does not work and has no pensions can I transfer her personal tax allowance over to me. Thanks in advance. Armchair warrior
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HMRC chat to an advisor online
Just wondering if anyone has managed to chat to an HMRC advisor online lately? https://www.tax.service.gov.uk/ask-hmrc/chat/self-assessment?_ga=2.208246292.743612226.1715159974-933285547.1701094917 I have found it a really useful service in the past but lately there have not been any advisors present. Just wondering if…
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Account name removed - will interest be reported to HMRC correctly
We removed my wife's name from a savings account with Aldermore in February of this year. The annual interest summary for the 22-23 tax year now shows all the interest for the year in my name. Should I assume this will be correctly apportioned when Aldermore reports interest earned to HMRC? If not, this will adversely…
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How to minimise tax on a bonus
Good Afternoon I currently get paid every 4 weeks and my gross pay is £4K each pay period. We get paid 13 times a year so a yearly salary of £52k. However I’ll get a £9k bonus this month, will this mean that the tax I pay will incorporate them thinking I earn more than £100k a year and therefore impact my personal…
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Tax code correct but taxed too much
Hi guys, I'm not getting anywhere with a Google search on this, only results on how to get your tax code changed if its wrong. Just been paid first pay from new job, only 2 weeks worth due to how their pay schedule works. I was taxed exactly 20% My tax code is definitely correct and I don't have any circumstances that…
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CGT on Bitcoin
Hi Everyone I bought into bitcoin 7 years ago..... Total novice..... I have added over the last 7 years.... I have made every novice investors mistake over that period... (Bought, sold, exchanged to other crypto etc etc etc) I recon I have about £7500 invested which is currently worth about £15,0000 If I have never…
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Closing LTD company and moving abroad
Hello, hope you're doing well everyone. I'm moving abroad in a few months which will lead to me closing down my LTD company. I already took the salary from April (£1,047.50) and have about £15,000 left (after paying corporation tax). I would like to use the remaining cash to pay myself a salary up to the personal…
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Remote contract - can i still claim for expenses on tax return?
Hi All, I work for a company and within my contract it says i'm a "remote worker". i have no official office. yet the company i work for does have office(s) and occasionally they will ask me to attend an office about once every couple of months, which as its over 200 miles away. I tend to get a hotel for the night etc. I…
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Reducing CGT on company shares
Hi Any advice would be appreciated. Are there any ways to to reduce the CGT after receiving the gains from company shares. One of the thing I have heard is that if I put the gains into ISA account then I don't have to pay the CGT. Not sure if this is true.
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Payslips and P60: different practice for gross/taxable pay
I am preparing my and my wife's self-assessments. Our payslips and P60s are laid out differently. My payslip shows 'Total gross pay' and 'Gross for tax' as the same, both being total pay before pension contributions are taken off. My wife's payslip's cumulative 'Taxable pay to date' and P60 'Pay and income tax details: in…
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Income tax query
Hi all, My husband and I are state pensioners and I do not understand tax at all. My husband only started paying tax in the 2023-2024 tax year and he has the marriage allowance as I only have my state pension. He gets his state pension and a small occupational pension. So from his P60 in tax year 2023-2024 his code was…
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Claiming expense vat
Hi all, Unsure on this - I have a small side business earning less than £1000 so I don't need to do a self assessment. However, can I still claim back 45p per mile and 20% on business costs? I can't find a way to do this without completing a self assessment. Thanks.