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Where on my tax return do I declare my SEISS?
I thought I had included my Self-Employed Income Supports Scheme grants on my self-assessment tax return, but when I got to the end of the return it informed me that I hadn't. Which section of the form should I include the payments in?
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Capital gains tax calculation
Need some help please, the Gov website is so complicated. I bought my flat on my own in June 2011 for £223k. I lived in it as my main home until March 2018 when I bought a second property and moved into second property, renting out first property. I sold the first property on 19 March 2021 for £424k. How much much CGT do I…
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Council Tax - wrong band?
Hi Im wondering if it is possible for homes built in the early 2000s to be in the wrong band, or does this only apply to properties pre early 1990s? I rent a tiny studio with restricted height throughout and am in Band B. Im struggling to think of how a property could be any smaller and fall into Band A. However I can't do…
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Salary sacrifice and marriage tax allowance
I recently sacrificed as much salary as payroll allowed. I am on minimum wage now. My other half does not pay tax as they earn less than 12.5K per year. Are we allowed to use marriage tax allowance transfer to reduce my tax bill even more? What other tax benefits can I have from having a minimum wage after salary…
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I need help with the marriage tax allowance please
Following Martins advice on the tellybox a few weeks ago , We applied for the married tax allowance going back 4 years like he said we could, but yesterday I received in the post that i owed tax from 2018-2019 tax year( £238.00).. ( i semi retired years ago, I only do voluntary stuff now) yet in the same post hubby got 4…
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NI contributions on bonus
OH is due to receive a bonus payment of £1037 from an employment that finished last year. This payment will be her only earned income this year. She is expecting to pay some tax on this but will claim it back later this year but Will she have to pay the 12% National Insurance on this payment as it is over the £184 per week…
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Interest and account fees
Hi, I had a Santander account for which I paid £5 a month in fees. Should I deduct the cost of the fees from my interest declaration on my tax form? Surely if I earned £300 interest then it is only actually £240 because I paid £60 in fees over the year? Thanks for any advice.
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Can life insurance policy be reduced from Buy To Let rental income?
Hi all, As title says, if you purchase a life insurance policy to cover some or all of the mortgage amount on a Buy To Let property, can this be reduced as expense from rental income?
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Calculating Return on Investment for Venture Capital Trust Tax Relief
I hope this is the correct forum - my question really is based on Saving Tax, so I've gone here. :# I think I need a nudge from an Accountant to help me understand how to do this. I fear this is either embarrassingly trivial or brutally complicated. If I invest in a Venture Capital Trust, I qualify for Tax Relief of 30% on…
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Nearest HMRC office
How do you find where your local tax office is located?
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P60 query from old employer
Hi, In April 2020 I received a bonus payment from an employer I left in Feb 2020. The payment was for my performance with them in 2019. As this payment contributes to my 2020-21 income, should the previous employer be sending me a P60-type notification for my self assessment? Alan
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Tax Codes
I am on a pension which has been given a tax code of 920 M !!!!!!What does the !!!!!! mean ?And how will it affect me .
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Bought parents council house - tax when sell ?
Hello , my wife and her sisters bought their fathers council house ,at a discount about 5 year or more ago . Grim subject but when time arrives and he passes away (nrly 80 now ) , are they able to just sell the house at market value ? It won’t be a huge amount between three daughters thanks mick
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Working from home new tax code issued for 20-21 but not valid for 21-22 so how to get tax rebate?
Hi Thanks to MSE i applied for the working from home tax relief at the end of march and was issued a new tax code. However my employer is saying that it cant be used for this tax year and I had already been paid fully for 20-21 so they are unable to use it for the relevant tax year. How do I 'use' this increased tax code…
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Working-from-home tax relief if I am PAYE and sole trader?
I have a full-time PAYE job which has required me to work from home since March 2020. I also do freelance work and have registered as a sole trader so will have to do a self assessment for the first time for the 2020/21 tax year. Simple question, is the additional tax relief for working from home still applicable to me for…
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Reduced Personal Allowance
Hello all. My income is approx 140k. So in order to not lookse my tax free allowance I put 40k into my SIPP. Now looking at the calculation on my self assesment. It is still stating that I have a reduced allowance. My tax bands have changed to account for the SIPP but no mention of getting my personal allowance back. Am i…
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CGT - Capital Loss question
Hi, Not sure if this is the right forum for this question, but here goes. I have sold three BTL properties in the past three financial years. Each made a loss. Unfortunately I didn't realise that I needed to record capital losses on my Self Assessment returns. I will be including the final one on my 2020/2021 SA return. I…
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Paying online via bank transfer?
Im a mum trying to help her son who is in debt, caused basically by the upheavals of the pandemic. He has an tax bill owing, about £1200 ( was self employed at the time covid lockdowns began). I have had a hypothetical discussion over the phone with an HMRC assistant re paying his tax bill in increments. I aim to split it…
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CGT on Property
Hi, i'm selling an ex council house and will be liable to CGT. I purchased the house in 2001 and received a large discount from the council, when completing the CGC calculator on the HMRC website, it asked me about the value of the house on purchasing it. My question is how can I get a valuation of market value in 2001?…
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First time tax return, capital allowance?
My husband became self employed in August last year so this is our first time doing a tax return. Can I claim the capital allowance for the car he uses for work? We purchased the car in 2019, the co2 figure is 115mg and its currently worth around £9,000 If I understand the guidance correctly we put down 6% of £9,000 in the…
