-
When to declare interest on Fixed rate 3 year account that is accrued to that account
When should the interest be declared on tax return for a 3 year fixed rate account were the annual interest is accrued to the account and no early access to account is permitted. I have previously declared it each year it is earned but am now wondering whether it should all be declared when the account closes and therefore…
-
£3000 pa gift allowance/IHT
I want to gift 3 sons some £. Allowance is £3 pa. So is that £3k for 18/19 and £3k for 19/20. Ie I CAN 'go back' 1 year... £6k total = £2k each YES?
-
IHT - At what age should you start to take it seriously?
Just wondered, at what age do you start to seriously consider your estates IHT position, and start to do something about it. Currently as a couple (47/52) we have a joint net worth of £850,000, no children. (This includes our house and DC pension pots) So if something were to happen to us both in the short term IHT would…
-
CGT on part of garden sale
Hi - we are in the process of buying part of our neighbours garden for £15k. The house is their primary residence. Will they be due to pay CGT on the sale?
-
25% Pension drawdown
Hi I had a 25% draw down when I was 55 2 years ago, to cut a long story short the pension company transferred my full pension (in error) into my account and notified HMRC complete with a tax deduction. I obviously let them know of their error and it was repaid in full and then the 25% was transferred.The Pension company…
-
Submitted Tax Return 18-19 Glitch when viewing in HTML
Hi When viewing copy of sumitted tax return in black and white (html) Property section filled out is missing. Viewing in colour it's there. Has anyone else noticed this?
-
When will the P800 letter arrive for 2019?
Hi Sorry I am new on this site and forgive me if I have posted in the wrong thread. I need some information about tax letters as this is this first year I belive I am due a tax rebate I can't remember when it arrived last year. Does anyone know when we are suppose to recieve the yearly letter about our taxes for 2019 I…
-
Do I actually need to fill in a tax return?
I have just found a job within the EU so moving there at the end of the month for an extensive period. I will keep my house in the UK together with my financial stuff including investments. My first instinct was to find an accountant to fill in my tax return yearly while I'm away... but then I thought to myself, do I…
-
pay rise vs pension
Hello, My employer have offred me a payrise, i currently earn £46,500 and want to give me £55,000 However i DONT WANT GO above 50k for the tax or becuase i will have to fill out a self cert. can i just ask them to continue to pay me £46,500 and anything over that they "want" to pay me put in my company pension, ?
-
Reclaim NI
Last tax year (18/19) I registered as self employed. I was also employed. The self employment made a loss so I have reclaimed my tax but have overpaid NI by 1200 through my employment based on overall earnings. How do I reclaim the NI? And as I'm expecting another loss this year, how do I prevent my employer overpaying…
-
Self-employed Class 2 NICs/State Pension
Hi fellow tax-savers/payers I'm self-employed and for the past few years have successfully made Class 2 NIC payments towards my State Pension. The payments have usually taken 2/3 months to appear on my National Insurance record. This year, I have only one more payment to make before my SP is due (in July), and I made the…
-
Selling my RSU's - What is the UK Tax implication?
I've been in the UK for nearly 2 years now and I'm considering buying a flat as I may be here for some time. To cover the downpayment, I will need to sell a big chunk of my RSU's as well as other stock i have in my US ETrade account. What's the best strategy and timing on the sale to avoid as much UK tax as possible? My…
-
Getting HMRC to respond to complaints
Hi, Does anyone have any advice on getting HMRC to actually respond to a written complaint? I sent it off over 2 months ago, and have not had so much as an acknowledgement (I can see online that they have definitely received it). This breaches their own guidance on responding to complaints within 15 days - so I could…
-
Backdating Married couples allowance
I have just apllied to transfer some of my tax allowance to my husband and noticed it can be backdated. I don't know if we were eligible in previous years. Do HMRC look into this for you and let you know ?
-
Self employment records
Hi, I ceased being self-employed in February 2010. Can anyone advise me how long I need to keep physical receipts/invoices etc. please? Just having a good sort out!! Also, can I claim insurance excess from a rented property claim (£250) on my annual tax return? Many thanks in advance.
-
Stamp Duty
Hi all I own my house with my wife and we are looking for something bigger. If I transfer the house into my name and she buys the second house in her name, does she have to pay the higher stamp duty for owning more than one property?
-
EIS investment benefits
Hi, I never had to do a self assessment tax return, but I recently invested in some companies on Crowdcube that qualify for EIS tax relief. I took a look at the form to request a self assessment and on the section where I should out why I need to do the self assessment, there seems to be nothing that applies to me. My…
-
Does this look about the right amount of tax?
Hi all. I’ve filled in my self-assessment only for the second time ever as I own a property that is rented. My total adjusted profit on the property for the 18/19 period was £3744. I’m a basic rate tax payer and I pay tax via PAYE in my employment. My self-assessment bill has come out as £1232.10, which I felt was a little…
-
HMRC estimation of earnings 2019/20
I've just been looking at my HMRC account and see that they've estimated next year's earned income at £15,000 and savings interest at £453 which has resulted in a code of 1250L. But they know that I only earn about £100 per month so why have they estimated £15,000? I've now advised through Gateway that I'll only be earning…
-
When to pay tax on monetary gift from parent
If my Mum gives me, say, £10000 (unlikely) and then dies soon after (also unlikely), is that gift liable to tax, even if her entire estate (including any previous amounts she has given me) falls under the IHT threshold? Thanks
