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Cutting tax
Archives for January 2019
Discussion List
Marriage allowance transfer and higher earner
Hi, So for 17/18 my wife didn't earn more than the personal allowance whilst I was slightly over the higher rate threshold BUT - after deducting the relevant (pension contribs, gift aid etc.) my headline income on which I actually pay tax is under the HRT. Does this mean we can transfer 10% of her unused personal allowance…
Vested RSUs,UK taxation and SA
in 17/18 some RSU vested ( from US employer). At the time of vesting, the month's payslip shows the value of the RSU as income ( converted from USD to GBP). The income tax and NI values that particular month correctly reflect this additional income and accordingly the P60 shows the increased income and increased tax that…
Is the UK's 60% "stealth" tax rate for people earning £100-£125k the highest tax in the dev. world
Incredibly, this still gets very little coverage. The erosion of the personal allowance means that there's an effective income tax rate of 60% on earnings between £100K and £125K There's a good blog article in the Spectator about the 60% rate and how it's basically a back door stealth tax for the "affluent but not…
Van purchase
Hi, Just a quick advice question,if anyone has a definitive answer I purchased a van in 17/18 tax year (28/04) It wasn't new & had no VAT attached ......Total cost was £7,476.00 I'm using simplified expenses as I do quite a lot of mileage (10,000 x 0.45 = 1,000 x .25) I want to keep on using simplified but the question is…
2017-18 online tax self assessment -another query
Happy New Year!:j:T Following a recommendation by a poster on here I am trying HMRC online SA.Not first SA but first not using paid for commercial software! Against my better judgement I am perhaps starting a bit late but hoped it would be straight forward.:rotfl: I need help to clarify what the tax should be. I do not…
Receiving inheritance money early
I was just wondering if it’s possible to receive inheritance money y early? My mum mentioned she might give me some of the money from her house early which would be about 120k (house is worth 240k but I also have a sister who would get half) she is in remission for cancer so that’s how it came up and it would be beneficial…
RSU Vested Options and Tax
Hi there, I'm just looking for some clarification please. I work for a US company and have gained some RSU share options which have been vested for some time, but I have not exercised them. These were granted to me at a price of $3 they are now worth $43. I'm a higher rate income tax payer and just looking to keep the tax…
2017-2018 Tax return self assessment
Hi I am attempting to submit my first online tax self-assessment but wish to check my numbers with you as I think I have done something wrong. I think all the pertinent details are: Salary after pension salary sacrifice £51,274.36 Medical Insurance benefit £379.00 50% of Interest from joint accounts £1.49 (no tax deducted)…
Tax refund for teenager
I believe there has been a change in how HMRC treats part-time work. My granddaughter works part-time whilst studying. HMRC didn't used to remove income tax from salary but I think they do now. She will be well below the tax threshold come April 2019; will she automatically receive a refund, or does she have to write to…
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