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Cutting tax

Archives for April 2008

My NI contribs increased by miles since April!
Hi According to all the tax calculators etc I ought to be around £20 up on the deal since the new "20% tax but higher NI threshold" changes came into effect, but I've just received my new payslip and I'm getting on for £20 down. My tax has gone down by £25, but my NI has leaped by £42. The calculators implied that yes, the…
Council tax arrears
Hello Could anyone advise me on what I could do in this situation as its getting very confusing I have 1200 currently owing to the council tax and it has gone to Rossendales collections agency.. i have started making them monthly repayments of 200 a month, for 2 months now, but frankly its crippling me and when i called to…
council tax banding
houses on my street are in council tax band b, a house was sold in 2000 for 44,500, my neighbours in exact same house as mine and one sold in 2000 bought their house new build in 1990 for 23000, we are wondering if we were all placed in the wrong band and how we can find out what band we should of been in and if we could…
Tax has DOUBLED
Dont know if im posting in the right place ? Anyway ive just received my monthly wage slip & the tax deducted is over twice as much as last month. I know this has been because of the budget & the 10% tax change, but what I want to know is can anything be done about this ? Starting to feel that going to work is pointless to…
Gift allowance
How much am I allowed to give per year, I understand it is £3000 a year. I have got 2 children, can I give each one £3000 and my husband does the same. This means they get £6000 from each parent. I thought it was £3000 per parent, but I read an article in the daily mail saying that each parent can give each child £3000…
Income Tax BIG problem!
Hi, I hope I've picked the right forum for this post. I'm trying to get help anywhere I can about this as it's a huge problem for my partner, and him being a bloke, I'm spending a lot of time trying to pull his head out of the sand! He been in his job for 3 years, he is on PAYE and he doesn't get a fuel card, he has to…
Married Persons Tax
I am 58 and my wife is 57. We live off my police pension which is well below the £18500 threshold for the 10p rate of tax debate. The tax change means that I will pay more tax. My pension provides an income for both of us but my wife does not get a personal allowance to use in reference to it and of course there is no…
can I claim tax refund if I had 2 jobs?
hi all, from 2006 april to 2008 april I was working on contract(16k gross a year) at the same time from 2006 december to 2007 november I had part time job in hotel and earned less than 5k, tax code BR, can I claim tax for second par time job? thank you
what is additional state benifit?
as ive found out self employed pay NI class 2 of £2.30 per week and this goes to towards state pension, but people paying PAYE pay class 1 and pay alot alot more per week, and that goes towards state pension AND additional state pension. Im quite concerened as ive never really queried why i dont pay as much as my…
Do I really have to get married?
Is it correct that cohabiting with my partner is not enough to avoid inheritance tax should one of us die? If this is the case - there must be lots of unmarried couples out there whose properties are now worth more than the £312,000 threshold and would be liable to be taxed at 40% by this money-grabbing bunch of…
Is this right, the Tax and NI I pay?
Hello all, New to this site so please be gentle.. I've just had a browse at my monthly payslip and see: Gross = 2593.04 pm Net = 1931.44 pm Tax = 426.20pm NI = 235.40pm My tax code is 553L (I claim for professional subscriptions which is why it isn't 543L for this year) ad I'm a BR tax payer. I've calculated that I pay…
Capital Gains Tax question
Hi folks, Can any one help with the following - would be so grateful. Situation:* A house is bought in 1996 for £78,000 and lived in by the owner as the sole residence until 2002. In 2002 the owner wishes to buy another house and to sell the original house to a family member for the full market value of £170,000. * A…
Furnished holiday lettings
I wonder if anyone knows about furnished holiday lettings for a friend of mine. Help us find the best of Any Answers – past and present – for a bumper collection out in 2008. Click the button below to nominate this post or delve through the archive to find your favourites. Property was on long term let till May. (It was…
My first VAT inspection!
I feel i have all my paperwork in order. i have 3 years as requested all ready and waiting on paper, pc and disc. am i correct in thinking that the inspector will only be happy when they find something however big or small to meet the targets? any other pointers would be a help Thanks
CGT Primary Residence Rules
I am UK resident but non dom. My husband and I live in rented accommodation and own no property in the UK. Last year I purchased a house in Malaysia with a view to spending time in it as I own a small business there. Now the non dom rules have changed I am liable for CGT on my house (or pay the £30,000 non dom tax when I…
Saving for Self Assessment Tax
Hi Guys/Gals, I own a UK Limited company and pay myself approx £5k PAYE per year the rest I take in dividends. Now until now I have saved 25% of all dividends paid to me which I put in a saving account ready for my end of year tax bill. I don't think that that is the best way to do it as I saved far too much last year.…
Self Employed, UITF40 and GAAP confusion!
I filled in my first tax return online last year and it was fairly painless. I decided to have a go at the 07/08 one early so I could forget about it but it looks like something new has come in which affects me. I'm a self employed programmer and get contracts to do certain pieces of work. It now sounds like where a…
Are you owed £250.....
....by HMRC? That's the average amount wasted each year by EVERY individual in the UK. With tax bands and personal allowances changing, it is worth a review and an early submission of a tax return if you are owed money. Don't waste time waiting until you MUST submit a tax return - if I owed you £250 would you wait a year…
CGT on inherited House
Hello I'm in the middle of selling my Mothers Home which i will be receiving 50% of the profits and my other siblings with share the other 50%. The House has been valued at £250k and my Mother bought the house when it was first built for 13k. Will we be liable for CGT?
New Self employment tax advice please
I tried self employment from 1st Feb to 5th April before and after that on JSA. Soon after starting I told IR that I have started a SE business and they sent me the form to declare you have started. By the time I got round to completing it I could see the business wasn't working so ceased trading just before I sent it…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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Cutting tax

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