Cutting tax

Archives for October 2017

Redcued Personal Allowance >100k
Hi My income in 16/17 breached the 100k limit for the first time and I am facing a big and rather unexpected tax bill as my coding was incorrect. I am checking the numbers to get a better understanding before submitting and paying my tax return. [*]My gross salary income was £123686. [*]I received £87 in interest on…
Wrong tax code, P45 and old employer
Hi everyone, I could do with some advice. I left my old employment at the beginning of September, and started a new job (and only job) a couple of weeks later. However I didn't get my printed P45 in time for payroll cut off, so my first new employment pay was on an emergency tax code. I since handed in my printed P45 so…
Being paid twice in one month!
On Friday I'm leaving my temp job to go to one with better pay. When I started the payroll was the 16th to 16th, so annoyingly whilst I'm leaving I'm going to be owed 3 weeks pay plus holiday pay. I worked out I will be owed, £1,240 approx (before tax) and this will be paid end of Nov. My new job which starts on Monday…
Claiming tax rebate on pension as 40% taxpayer
Hi, I have recently been informed by a Financial Advisor that because I paid tax at 40% that I can claim 20% of it back as a tax rebate going back 6 years but I don't know where to start finding out what I need to do to get it? Can anybody help? I haven't submitted tax returns for over 20 years, so not sure if that is even…
Non-SA repayments issued direct to bank.
Thought I should make people aware that due to changes imposed by the banking industry to the cheque clearing processes, from 30 October 2017, banks will no longer accept payments in the form of a cheque (payable order) issued directly to the bank from HMRC to be deposited into a customers account. This means that…
When can you claim a tax rebate
I retired in July this year and have since claimed a small pension pot that I had through the company. Obviously I paid tax from April to July and also on the pension pot but I will not use my yearly tax free entitlement between now and next April as I will just have my state pension coming in each month. I will be due a…
Question on Tax Expenses - Trust Fund
Hi all, First time post in this sub, so go chill! I am curious how expenses should be declared on a SA if my trust fund has helped me with them? For example, I spend £1000 (property maintenance related) on an expense and goes into my overdraft, then spend another £1500 on another expense, putting me further into my…
Bonus tax avoidance
Hi guys Is there anyway of getting your bonus in full & not taxed? I've tried to speak to my accountant but to be honest I think he's rubbish and he knew nothing. He knew nothing about personal marriage allowance and I nearly missed out on that! Thanks
PAYE for domestic cleaner
Please can you tell me if its true that I would have to register as an employer and operate accounts to deduct PAYE & National Insurance and buy employers liability insurance if I pay my neighbour £10 per hour to clean my house one hour a week? The neighbour is a friend and doesn't go to work or earn other income. She…
Tax Return: what is mortgage interest?
I need to do my tax return and it's asking for the mortgage interest. Is that just the monthly mortgage payment?
Voluntary Redundacy, Tax and New Job
Hi, I'm hoping for some help (aren't well all?) in September I took I sizeable voluntary severance package from my company - 30k of which was tax free - as standard I believe. Last week I was offered a new job, close to the money I was on previously. How will this affect my earnings for the remainder of the tax year? Will…
BTL mortgage - adding second owner
I am a 45% taxpayer, while Mrs C pays standard rate, and I currently own a small portfolio of buy to let properties which are largely mortgage free. I am thinking about transferring 90% of the ownership of the portfolio to my missus. Value of portfolio is approx £2m, with a mortgage of approx £100k. I understand that there…
General Tax and National Insurance Question
I am 62 and retired from NHS this year. (ICU nurse burnt out) Unfortunately I only have a very small pension of £500 per month. To subsidise this I do one agency shift per week at an average income of £300 per shift. Some months I do 2-3 shifts per month some its 4. I spoke to the tax office back in April/May and they said…
i have a issue
Hello I am wondering if anyone can provide advise or guide me where to go to get best advise: I have used an accountant for the past 2 years, however I think I have been paying too much for their service. It is for tax return for myself ( employed) and my partner ( Employed) who both pay through Payee. However as we have a…
University Course Fees (Scotland)
I am currently studying towards an MSc as a distance learning student at Robert Gordon University. The university has increased the module prices (again) which are now £1,530 each and I have 4 left to complete plus £4,030 for the dissertation. Is there a way I can save on tax to help soften the blow. I did look at salary…
Second Job Became Main Job
Hello all I have a question regarding BR tax code. My wife had a main job and a second job which have switched meaning the previous second job became her main job and vice versa. Up until September 2017 Main job Night time care assistant at a children's respite homewith a 21hrs per week contract and also had a contract…
HMRC's latest SA software
HMRC's "fix" for the SA software was released last Monday. The good news - it now appears to correctly process Starting Rate scenarios. The bad news - HMRC staff are sticking with the old, faulty*, understanding of SA and the Starting Rate - and will not accept the suggestion that "you just discard everything you've done…
Getting Charghed NI Twice?
Hi, I am employed as a full-time employee (non-contractor). Having looked through my payslip, it seems like I had too much tax deducted. My Net pay was: 4272 this month According to listen to tax man website, total deductions is 1150 and my pay should be 3126. My payslip says the following: Deductions: Tax (Code 0T M1)…
Tax rebate?
Hi all, I was just wondering if you can have a tax rebate on a second job, I don't get taxed on my main job but I only get 9600 and my tax code is 1150l my bank job is on basic rate cumel tax.. I would of earnt 11000 with this job and been taxed £2400 for the year on it.. but when I combine my overall year earning I should…
General questions on Tax
I need some advise, my new job (been there 3 months) pays 56k just got a company car after hire car, quite pricy, anyway, can I wait until next October to do a self tax assessment? Then I assume I will owe a large % of tax due to getting child benefit for two children, I need to start saving for this now, am I correct in…

★ ★ ★ Meet your Ambassadors

MSE News

Co-op Bank customer? You could be moved to Coventry Building Society in future – here's what's happening
The building society has today agreed to a potential takeover of the high street bank – though it's still very early days and the deal needs regulatory approval.
Got a text, email or letter from the Met Police? Don't ignore it – you may need to act to protect yourself from scams
If you got a text message or email from the Metropolitan Police between 4pm and 6pm on Wednesday 17 April – or you get a letter in the next few days – don't ignore it.
Save up to £1 on your takeaway coffee – while saving the planet
Many of us regularly reach for a cup of coffee or tea to give us a caffeine boost, but if you’re out and about and can't bring a thermos from home, the cost of this can quickly mount up.
Chase customer? Check if you can get its boosted 5.1% easy-access saver
If you have a Chase current account, you may be able to get a table-topping 5.1% easy-access savings rate to go with it, as the bank has launched a new, temporary bonus offer for some existing customers.
New online state pension boosting tool promised to Martin Lewis hit by delays – here's what you need to know
The tool was first promised to MoneySavingExpert.com founder Martin Lewis on ITV's The Martin Lewis Money Show Live last summer and was expected to launch before the end of the 2023/24 financial year.
Spotify to hike prices by up to £24 a year – here's what's happening
If you've got a Spotify Individual, Duo or Family account you'll see prices rise by up to £2 a month (equivalent to £24 a year) in a month's time, the music streaming service has announced.
Subway customer? You've got until 14 May to use your loyalty scheme points before shake-up – here's what's happening
If you're a Subway Rewards member, you have until the end of Tuesday 14 May to spend any points you've built up – or lose them entirely.
Nearly 850,000 people missed out on cheaper passports last year – here's how to cut costs and beat the upcoming price hikes
Nearly 850,000 people missed out on cheaper passports last year – and with fees rising by 7% this week, here's how to get a new passport for less.
Ted Baker to close 15 stores as it falls into administration – your shopping, refund and gift card rights explained
Fashion retailer Ted Baker will close 15 stores, including 11 by the end of next week, after falling into administration last month. Hundreds of staff are facing redundancy as a result of the administration.

View All

Cutting tax

Discussion List

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