We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Cutting tax

Archives for December 2012

Claiming Tax Back on Savings Interest
Just filled in a form R40 to claim back the tax on some savings interest I received a couple of years ago. Just curious to know when (or if) HMRC ask for details of the savings accounts and providers. There doesn't appear to be any request for this info on the form. I have the info so will this be asked for at a later date…
Inheritance tax - parents offsetting my mortgage
Hi all, Bit of an unusual question this. I believe parents are allowed to give their children upto £3000 per year in gifts that are exempt from inheritance tax. I have an offset mortgage with Yorkshire Building Society, to which my parents have a linked 'offset plus' savings account (i.e the savings account is solely in…
loan being repaid ?? any tax
Some years ago the company I had shares in was bought by another company. I sold some of my shares and the rest were loan notes ? in the new. They paid interest to me every year. They have written to say they have to repay me the money......... Should I be checking if I have to pay any tax as this loan relates to shares in…
Selling your own stuff to your own business
Quick question. I run a small business, and I'm doing my year end and sitting looking round the office we rent and there is a fair bit of stuff of mine that has over the last year essentially become the businesses (i.e. it lives permanently at the office on the other side of town from my home, and the main users are my…
Tax on ebay items
Good morning :) Can someone help me to answer a few questions regarding ebay selling please? I've sold quite a lot of my old or un-needed things on ebay over the years, jeans, old magazines, that type of thing, just as a private seller. I have a huge amount of vintage dress material I've collected over the years, which I'm…
True?
My wife's brother tells me that as he lives and works full time in Cape Town but is employed by a uk company and is paid into a uk bank acct he can claim every single penny back on his income tax seems abit unfair to me if true ill agree the majority of it but all of it?
Self employed income below tax threshold - do I need to declare it?
I did a small amount of self-employed work in the UK this tax year, earning £1500 total. I understand the personal allowance threshold this year is £8000, and I should not need to pay any sort of tax. In this case do I still need to declare the income and fill out a tax self assessment? This was my only UK based income for…
Vat Reclaim
Hi, I am not sure whether this is the right place to post. I have recently become a British Citizen, & planning to stay in India for 1 year from the New Year. I have bought a laptop few days back and my query is with regards to the VAT. 1) As I will stay in India for 1 year and then return back, can i claim back the VAT at…
HMRC tax return submission problem
Been trying to submit my 2011/12 self assesment tax return online today, it is complete with no errors and saved but when I try and submit it I am asked for user ID /password again - at this point the site will not accept the same ID and password which have already been successfully used to log in to site at the beginning…
Copy Tax Notification
I need to provide proof of identity to open a First Direct account and they will accept the following but they need to be less than three months old, the ones I have are older - PAYE Coding Notice - HMRC Tax Calculation I've tried to find where I can request a copy on the HMRC site but failed, I have seen comments to the…
Sharing council tax
I am just moving out of a flat and working out how much I owe. I was sub letter by a friend who is the main registered tenant of the flat. It was a short term thing for 3 months and a week. He is American and didn't really explain council tax system very well and is new to me too as I only recently graduated. It is a 2 bed…
PAYE tax question
From April I will be paid for about 6 months work a monthly wage that pro-rata would take me into the 40% tax bracket if I were paid if for the whole tax year. However after 6 months my wage will fall significantly and by the year end I will have earnt about 41k - so below the 41,450 threshold for the whole year. Question…
BR tax code - not enough tax taken
I seem to have the opposite problem from most. I was put on a BR tax code, which my employer has used to only take 20% even though on my income more tax than this should be taken. Is this correct?
tax on car insurance
Can i claim the money for my car insurance from limited company if i own the car in my name but i will insure the car as being used for business?? is this allowed? thanks
P800 Underpaid Tax
So the letter comes through advising that my parter has underpaid on tax. The numbers: Income - £8626 Of which taxable - £1150 Tax paid - £216.20 Now on this, by my calculations, she should have paid £230, so should owe £14. The letter indicates this but also has a further "adjustment" of £81 so they are requesting £95.…
received Self assessment form for 2008/09 today
Hi, Today I got self assessment form for the year 08/09 by post, it does not say anything just the form which says i should submit 31 Oct 2009, as the letter does not say anything i am totally confused on what i am supposed to do? any help please. I had changed my job in Oct 2008. Thanks
Gifting Money
What are the tax rules on gifting money to Grandchildren ?
Emergency tax?
Hi apologies if this is in the wrong section wasn’t really sure where it fitted. This is on behalf of my boyfriend, he has just finished a temporary contract where despite doing a p46 he has been emergency taxed the whole time (3 weeks with one pay week to go), will he have to claim this back at the end of the tax year or…
UK-Estonia double taxation, interest in Estonia for UK resident
Am I correct in reading the pages on the UK-Estonia double taxation agreement that a UK domiciled and resident individual using peer to peer lending to individual residents of Estonia in Estonia via an Estonian peer to peer lending business is subject to UK income tax and not Estonian income tax? The "via" part arranges…
Tax payable on receipt of gift from parents
Hi all, I think I know the answer to this question but in preparation for the year ahead I hope someone can just sanity check this for me. In the current financial year my parents made several gifts of cash to me. These were from their savings as I understand it and I used them immediately to pay off debts - they did not…

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

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.

View All

Cutting tax

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free

Cutting tax

Discussion List

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free