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Help with P800 and Hmrc online account
Good evening everyone! Does anyone know how I go about having a refund from my p800 paid into my bank. I've received my p800 but I am lost as to where on my online HMRC tax account I request the refund to go into my bank? Anyone have any pointers as to which part of the online system. I would need to go into to request the…
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Help! Is my tax code right?
Hi All, I have just received this months payslip and my tax code has changed to 750L due to me now having a company car. How can I check this is the correct code? This is the car detail: Vauxhall Corsa CO2 – 118 P11D - £15220.00
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Paying Self Assessment Tax by Credit Card
I'm about to do my self assessment and I owe approx £15K in tax. Due to financial circumstances and a re-mortgage, I planned to pay the tax by credit card. I therefore applied for and got two 0 % long rate purchase credit cards (both with £8K limits) which will cover the tax. However, I've just been on the self assessment…
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Gifting house to Son when mum dies. what about her care!
Good afternoon peeps!! Well its a sore topic and to be honest I don't really care anymore, as I have become the interfering daughter. My mums house is worth £510.000. No mortgage. Younger brother age 48 never left home. He gets the house to live in, until he dies. She knows she has to pay for her care. She lives on pension…
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Tax deduction for special needs school
Hi there, My partner and I are looking at countries to potentially move to, and our child has extensive special needs. Considering the UK, We’ve found some private special needs schools in the UK going for about 50k a year, and I’ve been looking without success for information on if any of that can be deducted from tax.…
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Fake Income Tax refund text message
Good evening, so I received a text last night from a sender addressed as P60; the text read that I have a pending payment of £265.84 from HM Revenues and Customs, to proceed please visit our secure website with a link provided of http://!!!!!!/Nv4s30hhoRh, HMRC. Am 99% sure this is a scam as I never heard of HMRC sending…
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Tax allowances for voluntary work??
I do rather a lot of voluntary activity in my spare time, i'm a fully signed up assistant scout leader and I also coach at our local swimming club (as well as officiating at numerous swimming events throughout the year) Just wondering if there are any tax allowances that I may be able to claim, for example…
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Self Assessment of CGT from house sale
I would be grateful if anyone can check this sample calculation. thanks Time line. 1990: Husband : Gifted house from parents market value £100,000. 2010: House put in joint names with Wife. 2016: House sold for £200,000. Costs of £2000. few questions 1,Husband has date of acquisition as 1990 and value of 50k. In 1990 the…
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CGT IIP complications
Hi experts Not sure if anyone can help? My late mother's house and land was held in an interest in possession trust for 40 years (she never moved). I left home 28 years ago but my sister remained living in the house for the last 30 years with my mother. My mother passed away in 2014 and my sister and I have (after much…
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Avoiding tax on redundancy
I am now redundant. I have earned £,32000 to date.My normal salary is £43,800 I will now receive £68,000 redundancy including PILON and £30.000 tax free next month .I do not plan to work again this tax year. This will now i assume result in me 40% tax on the additional £38,000 as it will be treated as a one off payment by…
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Tax implications of annual bonus vs. salary increase
Hi all, I have recently negotiated a salary increase from 80k to 100k in my job in the private sector. I’m a regular PAYE employee, no other income from other jobs etc. The MD has indicated that there may be tax implications of taking the 20k increase as salary or as an annual bonus and has given me the choice as to how I…
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Software for expenses and earnings
I'm a sole trader and so far have been recording my income and expenses on my home made Excel worksheet. What formats do accountants use, that you can upload to hmrc directly if needed? Any free software that use this format? So far I am using 1tap on my phone to take pics of receipts. Thanks!
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High income child benefit - charges for benefit I never received??
Yesterday I had a letter from HRMC stating I was owung them 3.5k in tax to cover higher income / child benefit charges. Thing is, ever since the new threshold rules were introduced in 2013 I never claimed a penny in child benefit (nor my husband). Nothing has been going into our bank account either. Prior to this I was…
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Living overseas and sending money to the UK
As of December 2017 I moved from the UK to Japan. Prior to that I was working self employed for 7 years filing self assessment tax returns I intend to send a sum of around £400–2000 each month to my UK bank accounts. As my 'domicile' is now Japan (if i'm not mistaken, this is because I will spend less than 31 days in the…
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National Insurance/ Tax
Hi, I have a query regarding tax and national insurance. I work for the NHS as a band 5 nurse and have done so for 20 years. For the past 8.5 years I have worked as a night district nurse with lease car, which causes no end of problems with my tax code and I swing from year to year with me owing them and then them owing…
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Self-assessment confusion re: personal pension
Aaaargh. I recently completed a SA tax return (2016-2017) for the first time. I am (or was, last year) a higher-rate taxpayer. I don't/didn't pay higher-rate tax, however, because I pay/paid into an occupational pension, so tax relief was given at source (occupational pension contributions were paid from pre-tax income,…
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Dynamic tax coding
I’m in the very fortunate position that I earn a very high salary of over £123k. In years gone past I have always paid a tax bill to account for the loss of my personal allowance when filling out my self cert. However now with the introduction of dynamic tax coding I don’t have a clue about how much tax I will pay each…
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MSE News: Scottish income tax shake-up - how what you pay will change
The Scottish Government has announced changes to income tax bands which could see some middle earners pay more tax from next April...Read the full story: 'Scottish income tax shake-up - how what you pay will change' Click reply below to discuss. If you haven’t already, join the forum to reply.
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Capital gains on assets not from property.
If someone has £100k capital gain from an asset (lets assume asset cost nothing) and its not from property + their income earnings are zero for that tax year. You'd deduct capital gains tax free allowance of £11.3k = £88.7k? So you pay 10% capital gains tax for the first £45k and 20% capital gains tax for the £43.7k?…
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Self-assessment first year to declare side hustle income
Hello forum, I am new here, hope you will be able to help me. For the first time in my life this year I made my self-assessment. This is because I generated some revenue with a side hustle and investments. Filling the self-assessment form was relatively easy: - Salary from my full time job (98% of my income, taxed at…
