We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Cutting tax

Archives for July 2021

Marginal rate and tax threshold in retirement - Scotland
Hi, I’m trying to sanity check my tax planning for retirement next year. I’m in Scotland and with my DB pensions I’ll be on around £39.5k while the HR tax threshold is £43662 (41%) so I have a little headroom to draw down my DC pot at intermediate rate - 21%., I’d like a little more headroom to be tax efficient and…
Used a tax rebate company (tommys tax) and I'm a bit concerned
Used a tax rebate company (tommys tax) and now I'm worried.. Hi everyone, First of all, I don't understand anything about taxes. I'm permanently employed and have not had to worry about it. My friend told me about an app she used to get a rebate for work expenses and said she had no problems with it, so I've used it too. I…
Capital Gains Tax. (CGT) and Share consolidation
Hello. I recently inherited and then sold some Tesco shares. In between the date of death and the date I sold the shares there was a share consolidation, which paid a special dividend. I understand the consolidation is not considered an event for CGT Could you help me calculate the loss for CGT? I've simplified the numbers…
Emergency Tax Issue Help/Advice Needed
I started a new role on 6th April this year and since then I have been paying emergency tax with my code being S0T. I called HMRC at the end of May and was issued a new tax code of S1257L and I received the notice by post on 1 June. HMRC stated they would also send this notice to my Employer. I received my pay at the end…
Avoiding stamp duty
my property is worth £500k and outstanding mortgage is £280k. I am adding my partner to mortgage with a declaration on trust 90/10% split. Will we have to pay STLD when we complete the remortgage. He has not financial interest in property but will start to help pay towards it when we complete.
CGT on property sale
Looking for some clarity on my understanding with CGT and selling a second property. I know you need to report and pay CGT on property sales within 30 days of completion, but in my case please can someone advise me on my this before I instruct an accountant. Property purchased in 2019 for £33950. Solicitors fees were £ 885…
Marriage Allowance
My wife and I completed all the relevant details for the above last week via HMRC/Government Gateway, online. Once completed it just took us back to the first page again, almost as if we hadn't even completed the required info. We've had no email to confirm our submission or for anything else. Is this normal?
Scammed
Looking for some advice. I've recently been a victim of a HMRC scam and they have taken from me over £8000. My bank can't refund any of the monies, so now im left gutted and heartbroken. Does anyone know or could they advise where I can seek advice next in relation to getting this money back.
NIC class I election - paying taxes for selling company shares
Hi, I'm employed with an American company and I work from UK. At the time of joining, I was granted restricted stock units (RSU) which follow a vesting schedule (1st batch can be sold after 1 year of vesting). I want to know if there is anything I can do to save the amount of tax I pay on the shares I sell or any other…
tax question
hello self employment tax question... - I must pay the last payment on account (other 50%) for 19-20 tax bill by end of July 2021. this payment will cover 20-21 tax bill if I submit 20-21 tax bill by end of July, will hmrc recalculate this payment on account based on actual figures... and will I have to pay the 1st payment…
Refund Cheque from HMRC
My husband received notification from HMRC he was due a refund on his PAYE tax payments. Within a week his employer sent a companywide email to say anyone who had received this would owe the tax back as they were behind with their reporting. We have now received a cheque from HMRC but I'm not sure if we should bank it. If…
Business startup VAT refund?
Sorry for what’s a really basic question but I’m trying to understand about VAT reclaiming when my startup costs for a new business are higher than my income. basic summary, I’ve registered a limited company to start work as an electrician. I want to buy a used van which has a cost of about £22k, plus I have other startup…
Care Home and Council Tax
Mum has been in a care home for eight weeks and I have asked the council tax dept to redirect the council tax bill to my brother who lives in her property but they are saying until we sign a permanent contract with the care home they won't do it and the bill remains my mums responsibility. This is also bearing in mind mum…
Covid-19 Working from home 21-22 tax relief
Hello Because of C-19 I worked a lot from home last financial year (20-21) so applied for C-19 tax relief successfully This financial year have been back in the office until now , however have to work from home again as been contact traced Can I claim C-19 tax relief for working from home because I'm working from home…
Change tax code after pension
Wonder if anyone can help my step mother. Apologies if I am being thick.. She’s just turned 60 and has taken a lump sum from her pension and today received a letter from HRMC for 21/22 with change of tax code. It says that they predict she will owe money and taking it out in equal instalments. Will this be from her…
Webchat Query
While sitting on HMRC should I be refreshing the screen to see if any advisors are free or does the box just pop up if I sit on the screen. I'm currently seeing this message: All of our advisers are busy at the moment. Keep checking this page until the 'speak to an adviser' link becomes available.
HICBC - Discovery assessments - Refund
Hi All, I was hit with a large bill from HMRC couple of years ago when I discovered I fall into the High Income Child Benefit charge due to my wife claiming the benefit. HMRC waived the penalty fees, however I still had to pay a large sum. I paid the charge for the past few years and I have then been filling my self…
Married Couple Allowance.
Just done the gov check list for eligibility for the Married Couples Allowance and and it gives me a figure I could be saving. I already claim the Transfer of Allowance from my wife and just want to know if it is possible to claim both.
Claiming tax relief for mileage incurred as part of job
My daughter has been employed for a year by Mitie as a "Support Officer" involved with COVID mobile testing sites. She is required to travel to various locations up to 60-70 miles from her home to set up and run temporary COVID testing stations. She does not have a permanent base and is instead given a daily roster of…
High Income Child Benefit Charge
Hi All Please can you help resolve a discussion: If a self employed person is likely to earn 55k this year in taxable profits, can they avoid the HICBC by contributing 5K + into a SIPP? Thanks

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

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.

View All

Cutting tax

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free

Cutting tax

Discussion List

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free