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Cutting tax

Archives for October 2018

Budget 2018 CGT on sale of rental property from 2020
Can anyone help? A property was purchased in 1991 for 96k and in joint ownership, the owners lived in the property until 2009 when they rented it out and now plan to sell before the 2020 changes the property is now worth 270k what is the tax liability regards the sale before and after Apr 2020. It's seems a lot more…
HMRC Mileage allowance
Hello, I need some advice, I work in the care sector and have done for over 5 years. I have never claimed for mileage allowance in the past as I was paid the maximum 45p a mile. This year is the first year I have claimed the mileage allowance I worked out I was owed £1,700 in allowance and then on top I am entitled to the…
Selling shares on Estate
Hi, my wife and I are the Executors of a Will and as part of dividing up the estate, we need to sell shares which were owned by the deceased. We contacted the registrar who gave us the option of either selling the shares by post in the name of the deceased or transferring them to us and then we can sell online or by phone.…
HMRC Mileage allowance
Hello, I need some advice, I work in the care sector and have done for over 5 years. I have never claimed for mileage allowance in the past as I was paid the maximum 45p a mile. This year is the first year I have claimed the mileage allowance I worked out I was owed £1,700 in allowance and then on top I am entitled to the…
Income tax help for new job
Hello I have recently left a full time job which I have earned £13k this financial year and have paid aprox £1600 tax so far ( based on a £32k salary) My tax code = 1302M I have now got a part time job paying approx £1k a month (11k salary) starting in November so will earn another approx £5 k this tax year , bringing…
Business Mileage Tax Relief
Hi there, first off a "newbie alert" - I am not sure if I am posting this in the correct place so please point me in the right direction if not. I have a very simply question. I know I need to compete a self assessment to the claim back the 15p per mile for the first 10,000 miles and I know it needs to be a self assessment…
single person council tax
Hi, Need some advice please. I'm going through divorce at the moment. Ex has moved out and I've start to apply for single person benefits etc. I've applied for single person council tax discount but the council wants his new address which I don't have and he won't give it to me. The council said because the house is still…
Personal savings allowance
My understanding is that HMRC receives details of interest paid on personal accounts directly from the banks and building societies so I am confused as to why they have written to me asking for details of all interest, bank names and sort codes and the last four digits of the account codes of my savings. I've never done a…
Cancelling marriage tax allowance
Hello, My current tax code is 1304M and my partner's is 1066N. My partner has always worked part-time and so wasn't paying tax. We've had this allowance since April 2015. Last month my partner's hours were permanently increased, so from now on he'll be earning tax. Which of us needs to cancel this allowance and when? I…
Latest budget - NI
My partner is employed and earning 49,500 (based in Scotland, so only the national insurance and personal allowance affect us, not the upper band changes). I am confused when I run salary calculators for next year's budget, that his tax in terms if income tax goes down by around £20 a month (because of the increase in…
Tax return employee and sole trader
I am employed full time but also sell handmade goods at local craft fairs. for the past couple of years i have filed a self assessment tax return with no problems until this year. Has the form changed? On page1 of 'Tailor your return' it does not give the option of stating self employment only 'Were you an employee or…
CGT on joint owned property as expat
My bother and I have a joint mortgage on a property that we have been renting for the past four years. I now live in China and will do so for the foreseeable future and as far as i'm aware this means I am except for CGT after 5 years? If this is the case is there a way that I can transfer the property into my name and…
Help - Moved Jobs - Much higher payment
Hi guys, I need some advice. I worked for a company okay, I left them mid-month and after adding owed holidays, worked 15 days for them this month. In my new company, I have worked 8 days for them. For ease let’s label them A and B respectively. Now, company A is paying me £1692 before tax, and 1404 after tax/NI Company B…
I have not registered for tax return deadline has passed - what to do?
Hi folks I have been (and still am) a PAYE all my life and have never filed a tax return. I was reading something online and I have just realized that my taxable income for the last financial year exceeded the £50k limit after which the high income child benefit tax charge is applicable. I looked online and it seems like…
VAT on exported vehicle
I have recently bought a pickup that I am to export permanently out of the UK. The pickup was advertised exclusive of vat. When negotiating with the seller, he refused to sell to me at zero rate because I did not have proof of exporting and was afraid HMRC would come after him. He advised I could get vat back from HMRC…
Chancellor to reveal budget this afternoon - MSE News
Chancellor Philip Hammond has unveiled the 2018 Budget...Read the full story: 'Budget 2018: What you need to know' Click reply below to discuss. If you haven’t already, join the forum to reply.
Do I have to pay my self assessment bill in one go?
I have 3k to pay by jan 31st. Can I pay a part of it today and each month or does it have to be in one go?
First Self assessment
Not really a cutting tax question. But I am due my first tax self employed assessment return online before the 31 jan. I haven’t a scooby about tax, I’ll be logging onto my government gateway ID and attempting it alone. Is it hard? What do I need to prepare? I have all my invoices ready and my earnings since feb 2018. I’m…
Never filled a tax return before - confused!
Good afternoon, Quick question, I started a business last June 2017 and registered as self employed. I also had a full time job on PAYE. My business made a loss, do I still complete my self assessment before January? Finding it so confusing. Try to ring and can't get through or it recommends I go online. On my online…
Didn't inform the council about the change
Hi, I don't know if this is the right place to post this, apologies if it isn't. I am a student and therefore I can get a council tax exemption, however I just realised I had 21 days to do it. I moved to UK in September and wasn't aware I can get an exemption until last week. I since got ill and forgot to inform the…

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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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