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Cutting tax
Archives for April 2014
Discussion List
Gifting to adult children
I'd like to sell my £450,000 house and give each of my three adult children £50,000 and then buy myself another house for £300,000. Provided that I live for another 7 years (I am 55 and in receipt of a private pension) is it correct that none of us would have to pay any tax at any time during or after the 7 years on the…
Tax Refund Company
Hi everyone :) I was wondering if anyone had any advice about the following: I came across a note from the Tax Refund Company in my local authority payslip about employees being able to claim tax rebates as I had been paying tax on union and professional body fees. They said they would take a 39% cut from any rebate that I…
High income tax
Having moved on from 32 years service in the Royal Navy I have the benefit of a pension. This combined with the full time job I have seems to allow HMRC to sting me for huge amounts of tax. After checking the tax calculator I seem to be paying far too much tax, how do I go about trying to get some money back without being…
Tax on critical illness payout?
Due to very bad health I've just been told that I qualify for a payout from critical illness cover that I took out with my mortgage several years ago, and have been paying into ever since. My remaining mortgage debt will be cleared, and I'm due to get a £33k lump sum. Does anyone know if I will have to pay tax on this? I…
Tax Code D0 - Advice Needed
Hi Forum, I need some advice i got a letter from HMRC stating from april 2014 to 2014 I will be on Tax code D0 and paying 40% tax which I am no best please about. After doing some research I see this is for second Income which i do not have as I have only one job. Anyone know what may cause this please? Thanks
Tax return. Is this right?
Hi Guys, im a bit stumbled here. Not 100% sure how it all works but this last year I have been self employed. I used a company in London to do my tax return for me so all i need to do is fill out a pack they send to me and send it off. This year I have earned (as self employed) £9568 and paid £1914 tax. I can claim back…
Tax Rebate for Expat
Hi, I moved out of the UK in October 2013 and sent HMRC a P85 form to say i was no longer living in the UK. HMRC told me that I may be elidgable for a tax rebate for the tax year 2013/2014 since I left in October. My question is does any one know what I would be entitled to and how they calculate it? do they look at the…
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