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Cutting tax

Archives for September 2018

UTR and First time registration for Self Assessment
I already have a peronal tax account with a government gateway id. I had a one off capital gain in year 2017-18 and am trying to register for Self Assessment by the deadline, 5th October. I filled out the online application for a UTR today, but since discovered this takes 10 working days to be generated and delivered by…
Tax advice for pensioners please
My aunt and uncle, both in their 80's have recently asked me to help them with their finances as my uncle is no longer able to do so. Now that tax is no longer deducted from savings interest can anyone please advise if they will need to pay any tax and if so I will need to complete a tax return for them. Uncles pension…
Council Tax overpayment since 2009?
Our ground floor flat was graded *B*. In 2009 we purchased the graded *A* upstairs flat and converted the 2 into one house. A Council Tax assessor visited over the years and advised the house was still two flats despite us living in the building as one house (with a connecting interior staircase, outside stairs to upstairs…
Work expenses - tax or benefit?
Hello everyone, I have accepted a new job role which means that I need to purchase a travel card at approx £7.5k a year and also have accommodation expenses of £5k a year, my company have offered to cover these for me as part of a package. My question is, what is the best way for this to be paid to me, if it goes in with…
Inheritance tax question
I've tried searching for this online, but with no luck. My wife and I own our house as tenants in common. I own four fifths, she owns one fifth. The house is worth about £385,000. I have savings and other assets of about £220,000. We have no mortgage or other debts. We have no joint accounts. I would like to make a will…
No longer have company car
So after having a company car since forever hubby now has a car allowance and has private leased a car. Stupidly we thought as soon as soon as the tax code was issued he would no longer have any car benefit on there and would get the normal personal allowance code like everyone else ( how naive were we ) so we know…
Council tax - abroad for a while & in between properties
I am planning to leave my current property, put everything into storage - go abroad for 3 or 4 months, then rent somewhere as soon as I come back to the UK. My question is, what happens about council tax (& anything else, rather important that I haven't thoght of). Thanks in advance for your ideas.
Self Assessment for Buy To Let - Can I do it myself?
Hi I have a flat which I have been renting out for the past 3 years and have been using an accountant to submit my Self Assessment forms. As the Flat is in mine and wife's joint names the accountant charges £160 per form so we end up paying £320+vat a year. I'm in full time employment and is a higher band tax payer where…
Help with tax paid this month
Hi all, I received a notice of my new tax code in early September suggesting that I owe just under £2000 for the year April '18 - April '19, and that my tax code adjustment would allow this to be collected in equal instalments from now until April '19, ie. around £285 extra p.m. (they will do this by reducing my tax free…
Help with Income tax taken from bank insurance policy refund
Hi all I was the sole beneficiary for my late mother's estate two years ago. All was settled and finished with as far as I was aware. Earlier this year I got a letter from Lloyds Bank home insurance stating that they may owe me, as the beneficiary, some money. I sent back the relevant information and they sent me a letter…
VAT question
If I buy from Amazon.co.uk(based in Luxembourg), they charge 20% VAT on goods I order and have shipped to a UK address. But does that VAT get paid to UK or Luxembourg?
HSBC tax identification number
I have got a joint account with HSBC with my sister in Mauritius. HS BC is requesting a tax identication number as I am a taxpayer in U K. Is that the tax code in uk? Thanks
Employer not submitting correct earnings to HMRC
I have just received a tax refund letter from HMRC which has been based on incorrect earnings from my previous employer. As I was off sick for most of the tax year that I was with them, I only got paid for 1/4 of my total earnings, yet they have declared to HMRC that I had been paid almost the full amount, hence the…
Would I benefit from having an accountant?
Hi guys, a quick rundown. I've an LLC company since the start of 2017. 2017/18 earnings were well below the personal allowance for taxable income. 2018/19 earnings are likely to be below the allowance too. I'm fine filling out tax returns myself, would there be any upside to getting an accountant onboard at this stage when…
SE and Ltd - NIC continuity
Hi, I would like to understand this please. Thank you for the great forum I have 2 questions: 1. I am self employed and tax resident in the UK. I am going to move to Europe. But I need self employment as sometimes I am earning money in UK. Am I obliged to close the SE? 2. I am thinking about setting my Ltd. where I will be…
Tax allowances carried forward?
I am easing myself into early retirement via a 3 day week. I get paid minimum wage, with the balance of my remuneration being paid into my pension via salary sacrifice. My monthly pay is therefore about £851. No tax deduction and only £22 NI. Happy days I thought, until I came to do last years tax return. I use my private…
Corporation tax - tell me I'm wrong
A bit of background - OH and I run a limited company. I run the finance side of it. Our year end is February, so our Corporation Tax is due at the beginning of December. Every time I pay a dividend, I put the tax in a separate 'Corporation Tax' account. Yes, I am that sensible. So, let's say our CT bill is £20,000 a year,…
Self assesment needed?
Hi, First of all I want to let you know I am not very familiar with the UK income tax system, not sure how it works at all :) The only thing I know is that I pay income tax, a lot of it :( I work in financial services and got an option to buy up to 1800 GBP worth of shares from my gross salary to save on income tax and…
Tax code
I have someone who is going back to work after a long period ANd want to know as she does not have her old P45 will the person have any problems? Going to her new Employee
Self assessment
Hi! I have recently accepted a job working for a company on a self employed basis. The job involves using my car to travel around the county. I am paid per job for the work I do, not per hour. I believe I can claim back the milage at 45p a mile however I am a little unsure of how this works at this point. The example given…

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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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