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Cutting tax

Archives for August 2011

Tax Back Companies
Ok so I really am unsure what to do regarding my due tax back, I earned approx £6000 last year and paid roughly £1200 tax, I should be due this back right? The problem is I dont have any p50 or p45 for this tax year (the last one) I contacted the tax office to tell them this and they said they could only contact my…
wrongly seen as self employed
Hi My last employer told me I was self employed so I registered with the Inland Revenue - however I have done the test on line and I wasn't self employed for a lot of reasons and my employer should have paid my tax. I've phoned the Inland Revenue and they say that because I registered as self employed I would be treated as…
Paying too much tax
I started a new job a few months ago and i still seem to be paying too much tax. When comparing my take home pay to everyone else i receive around £150 less each month. Is there anything i can do to sort this out? Any help much appreciated
tax return
firstly can i apologise if this is in the wrong place i couldnt see anywhere else to put it. my problem is my business partner and i have been fined £100 and have another fine on the way for a partnership tax return that hmrc say they didnt recieve. our accountsnt is adamant that he delivered the return by hand to the…
age allowance trap
Am I right to assume that one can avoid the "age allowance trap" by making a pension contribution?
Car Allowance and claiming mileage tax back??
Hello, I have a few questions about claiming mileage tax back and car allowance. I have tried to do a lot of my own research before posting but it is getting very confusing, I hope you can help! I currently do about 25,000 minimum business miles per year and I receive a car allowance of 7,200 gross p/a, which I use to get…
HMRC address for nominating a house
Hi, Would anyone be able to advise me on which is the correct HMRC address/department to write to if you want to nominate a property as your main home? Thank you
changed tax code....
my partners tax code has been changed from BR to a normal code, this was done on the 8th august but his pay is still the same as it was before, am i right in believing his new code will come into effect next month? thanks
Loans to adult children, without incurring inheritance tax.
Hello, Our son and long term girlfriend are desperately saving for IVF treatment. We wish to help them but cannot afford to give them money as due to our situation, we will need it ourselves in a few years. We can however loan them some, over the £3,000, but if we do not survive more than seven years, we do not wish them…
Tax codes
Hi guys can somebody please help me. I have only one job and over the last few months have had several tax codes. March was -BR May was -OT 1 July was-BR 1 Aug was-BR 1 Can anybody tell me why they have changed,what they mean and if i should be due a tax rebate.Thanks
Tax on cash gifts
I wish to give each of my children £50,000 towards purchasing their houses. Will this sum be considered as income for them, and as such subject to income tax? I realise they may have to pay IHT should I die within 7 years.
Returning to UK from abroad: eBay tax advice
Hi, I'm a UK citizen who has been living abroad for several years. During this time I have set up a business selling on eBay UK. In a couple of days I'm moving back to the UK permanently and need to start paying UK tax on my profits to HMRC. - Is there a form I need to fill in to prove that I have been living abroad and…
Calculating when I pay 40% tax (& effect on Child benefit)
Hi, I would welcome some advice on how I can calculate when I will start paying 40% income tax. Due to a promotion at work my basic income is now £42'000. I know that I have a personal allowance of £7474 and need to add this to the £35000 limit, i.e anything over £42'475 would in theory be payable at 40%. My confusion is…
cycle scheme - con trick? advice needed please.
Hi folks. I was about to enter the scheme with a view to getting a road bike for the max permissible value of £1000. However, I have some serious misgivings over the hmrc changes. For a 1000 bike, the monthly salary sacrifice is 69.44 until January when it goes up to 83.33. So for payments starting in Sept 2011, this will…
anyone help?
Hi all.....(update to this thread at bottom) At the moment I have a final salary pension of £21,319 and a salary from another job of £27,625. I pay BR tax rate and NI on my £27,625 salary and 499L and no NI on my £21,319 pension my total take home income after tax and NI is £3,138 However next month my pension rises to…
40% tax
When does this kick in And if I start paying it in a tax year due to bonuses etc how do I get the pension benefit from hmrc retrospectively and does this get paid to my pension pot or to me
Thoughts on my Council Tax situation - RESOLVED
Hi. I would like a take on peoples thoughts about my council tax situation. We moved into a new property just over four years ago, and the property had a ratings banding of 'F'. Now, I always thought this was high, but checking on-line I could see the banding had been appealed by a previous owner, and the appeal was…
Inheritance tax advice. How does it work?
[FONT=Times New Roman,serif][FONT=Calibri,sans-serif]Hi[/FONT][/FONT] [FONT=Times New Roman,serif][FONT=Calibri,sans-serif] [/FONT][/FONT] [FONT=Times New Roman,serif][FONT=Calibri,sans-serif]Unfortunately my mother passed away recently and left a substantial estate in her Will. [/FONT][/FONT] [FONT=Times New…
Inheritance tax advice. How does it work?
[FONT=Times New Roman,serif][FONT=Calibri,sans-serif]Hi[/FONT][/FONT] [FONT=Times New Roman,serif][FONT=Calibri,sans-serif] [/FONT][/FONT] [FONT=Times New Roman,serif][FONT=Calibri,sans-serif]Unfortunately my mother passed away recently and left a substantial estate in her Will. [/FONT][/FONT] [FONT=Times New…
Inheritance tax advice. How does it work?
[FONT=Times New Roman,serif][FONT=Calibri,sans-serif]Hi[/FONT][/FONT] [FONT=Times New Roman,serif][FONT=Calibri,sans-serif]Unfortunately my mother passed away recently and left a substantial estate in her Will. [/FONT][/FONT] [FONT=Times New Roman,serif][FONT=Calibri,sans-serif]The problem is, the Will places me as the…

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MSE News

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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
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Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
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Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
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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
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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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