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Cutting tax

Archives for July 2018

OT Tax Code Help
Hello, I started a new job at the beginning of the tax year. However, i was due a bonus and another one off payment in June and July this year from my old employer. They sent me ad hoc payslips through the post and i was paid using the OT tax code. Had a look online and this makes i guess because my old company have no way…
Will I pay 40% bracket on car?
Hi I have just recieved a payrise and bonus and am unsure if i will be in the 40% car tax bracket, and if so if my car cost doubles? I now earn: Wage: £35,000 Bonus: £5,250 Car £5,000 (roughly annual) Health Care £600 Pension : 5.3% Charity Salary Sacrifice £10 pm Share scheme £40 pm help! i'm so confused with it all.
Resigned from job in July 2017 and didn't work rest of tax year - refund due?
Hi Due to resigning from my job I worked only the first 4 months and 1 week of the 2017/18 tax year. Have not worked since. Salary was 40k of which will only have been paid 4/12 of. Will I be owed a tax refund? I was hoping for a tax refund in the post but have not received anything yet. Maybe it's too soon? Many thanks…
Second job tax help
Tax code: 1185L Age: 18 First job: £253.12 for 24.5 hours a week. Take home pay comes out to £195.25 Second job: £450 for 45 hours a week. How much can I expect to get taxed and be deducted from NI and how much can I expect to take home on a weekly basis? Is there an advantage to declaring your first or second job in a…
Council Tax Band Newer Properties
My house was not built until 2002, therefore I don't think the valuation tools will help me as part of checking my council tax banding. What should I do to check if I need to challenge it or not? Cheers
Paid twice in one month
My partner is a teaching assistant and is starting a new job in September. She has finished for this year and handed her notice in. Her boss sent a letter stating that she will be getting paid July and August together in July. The total amount she was paid was £1780 but she's been taxed on it as if this is her normal…
£4000 wedding gift from grandmother
I'm getting married in a couple of months' time and my grandmother gave me and my fianc! a cheque for £4000 to help towards the wedding. The cheque was in my name, so had to be paid into my bank account, although it was quite clear from the card it came in that she intended it as a gift to both of us. My question is, do…
Inherited Property & Stamp Duty
I am one of 6 siblings inheriting our late mother's property. I have lived here for the last 4 years caring for our mother who has now passed away. We are now going through probate and I would like to fully buy the property i already live in. We have had several valuations done to get an average at which we will agree a…
New salary and bonus
Hi I was wondering if anyone would be able to help me work out how much money I'll be taking home monthly based on this new salary with and without bonus as I only get it quartley if I reach target. Yearly: £25k Quartley bonus: £2k Kind regards :)
Help with business mileage
Hello everyone, my company pay 32p per mile and I have to claim the rest through my tax return. For 17/18, I did 3066 business miles and claimed 3066 x .32p=£981.12 from my employer. This leaves 3066 x 13p for me to claim back through HMRC = £398.58. My question is this, when submitting my return, do I put the whole figure…
Self-employed undeclared income
Hi all I’m in a pickle. I was self employed last year and was supposed to get a bonus for some work I did, but a deal never went through and I didn’t end up getting paid. Anyway, I’ve just been paid that bonus as it went through, so do I need to declare £1000 for last tax year or this tax year? I know the business paying…
Income Tax calculation
Hi, I've been reading about how income tax is actually calculated in the PAYE system in the UK based on gross income, but I can't quite understand the calculation. So considering gross income from a single job, and not taking into account pension/other deductions, or any capital gains etc (just the most basic scenario),…
Ex Pat - How do HMRC know how long out of country?
How do the HMRC know how long you are out of the country for tax purposes? Do they have access to the Border Agency to see arrivals and departures using passport information? Anyone in the know?
Wrong date for address held by HMRC
I hope this is the right section! I have an issue which I have recently discovered on the HMRC Personal Tax Government Gateway. It states that my main address has been recorded from 2016, however I have been there since 2013. I have been with my employer since 2012 and changed my address after 1 year to the main address. I…
Student son paying tax on summer job: how to get it back
Hi, oOn who is full time student is doing a summer job. 1st paycheck received. How does he reclaim the money? Also is there a way to get paid without paying tax?
Council tax liability order issued without notice
Last Friday 20.7.18 I received a letter dated 19.7.18 from the council stating that a liability order for a four figure sum of council tax was issued against me at the magistrates court on 18.7.18. I was shocked as I thought my OH was paying it, but turns out she thought I was, duh! No problem I thought, I will ring the…
Quickest Way To Reclaim Tax For Current Tax Year
Hi, I have been on a Basic Tax Code since I started my job in March. It's my first job in the UK. I called HMRC last month with the missing information and they updated my tax code. I received a letter with the updated tax code a week after my call but apparently they haven't yet notified my employer about the change so…
Claiming VAT for a self build
Much needed help and advice sort please. I'm currently in the middle of renovating my house as a self builder and therefore having to pay VAT on all the materials I'm purchasing so I am wondering if I registered as self employed could I claim the VAT back and if so how difficult/complicated would the process be. Many…
company car or car allowance?
not sure what i should take, i have a £6k allowance or a car. Option 1) take the car ... looking at BIK value and because the taxman is a robber, its £5,889 so at 45% ill be paying £2,650 pa Option 2) or car allowance at £6k will see me pocket £3,300 pa after tax at 45% that would be more than enough to cover my crappy…
How to find professional advice about tax on a trust
I need tax advice about a trust and am wondering how to find competent advice from someone appropriately qualified, such as an accountant or tax adviser. I gather that accountants etc. specialise in different areas. How can I find one that specialises in trusts and is properly certified? [Edit: I'd prefer not to consult a…

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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.

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Cutting tax

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