Cutting tax

Archives for February 2022

Does using the Marriage Allowance require the person giving the allownce to complete self assesment?
If spouse A is working, and spouse B is not working at all - after doing the marriage allowance, is spouse B required to complete self assesment forms? Additional context as to why I'm asking, though I, now, don't think it's relevant…
Gift aid can cut tax??
Hi all, I've been paying regular donations to a charity for a number of years. I always tick the gift aid box. I pay more tax than gift aid as box states. I'm not on the higher rate of tax. Am I eligible for a gift aid tax allowance? I've been on gov.uk site but there's hardly anything about gift aid there Thank you!
Tax free allowance
Hi. A couple of months ago I got informed my tax free allowance for FY 21/22 was now 15k rather than the default 12.5k, because of my business mileage in FY 20/21. When do I see the benefit of that? My tax deductions in my pay packet haven’t changed. I’m hoping I get a credit to my bank account at some point - is that…
P45 was incorrect, now P60 will be wrong so my (correct) tax return won't match it...
Tl;dr: Old employer gave incorrect figures on P45, so now YTD numbers on payslips from new employer are wrong, and P60 will be too. Am I right in thinking I ignore the P60 and put in the numbers I know are correct on my tax return? *** My only income is from monthly PAYE work. I changed jobs recently, finishing at my old…
SA/HICBC query
Edit: Thanks DandC + Jeremy! My wife has claimed child benefit since Dec21 when our child was born. For tax year 21-22 I had planned to sal sac using pension contributions such that my taxable pay was no higher than £50k come end of 21-22 tax year. Due to a higher take home pay this month (was not aware it would be much…
Taxed at higher rate on one off holiday pay - how/when is it reimbursed?
I'm currently in a civilian post with the Police and will hopefully be joining up as an officer. I have a large amount of rest day in lieu accrued (20 days), having worked as a civilian for close to 20 years, and there won't be time to take this leave in my notice period if I'm going to make any progression with my current…
Tax from company based in IoM
Hi,We live in Scotland and my partner has a few airline pensions. One of them is £1332 a year with a tax code of S26T/0 so is taxed £16.91 a month. Why? She seems to think its to do with it being based in IoM. Is this correct? CheersG
Personal car - Business Mileage, to fuel card or not to fuel card
Hi, I’m hoping I can get some clarification on business mileage. I currently own my car (no finance) which I’m using for work. This is a new job. Work are currently providing me with a fuel card and 13p per mile calculation. Therefore, my private mileage is taken out of my payslip on a monthly basis. Is this beneficial for…
Pension & Tax
who do i contact? i get a small NHS pension, finished work in september 2020 and am still paying tax on this although i have no other income who do i contact as im well below the tax threshold?
Capital Gains - reduce with pension contribution?
Here's one for you knowledgeable folk. When my OH and I bought a house together some six years ago I kept my flat. I have now decided to sell, which is going to leave me with a CGT liability. The ballpark figures are as follows; Flat purchased in December 1987 for £50K Will sell this year for circa £285K (assume May…
Marginal tax rate
Hi all, Can I check something? If I 1. Live in Scotland 2. Earn just over 100k My understanding is that my present effective marginal tax rate is 63%? I am treating NI contributions as "tax" and therefore I believe my marginal tax rate will rise to 64.25% as of next financial year? Am I correct? Thanks for help.
How to webchat HMRC re incorrect income estimate for next year
Good evening all,I received my 2022-23 tax code today and to say it's been rather mucked up is an understatement. On logging into my personal tax account this evening I've found that the cause is due to hmrc estimating that one of my pensions is for some reason going to pay me 4 x this year's amount which has decimated my…
Let property disclosure
Hi, please be nice as I am Stressing big time. When my mother died I used mines & my daughters inheritance to purchase a property that my daughter will live in when she’s older. I have rented it out through a local authority letting agent since June 2018. In my ignorance I have not declared this as income. (After…
CGT PRR on BTL
Hello - can someone work out CGT for me based on the following. Owned property total 288 months Main home = 114 months Rented out = 174 months exempt = final 9 months Bought for £57,500. Sold £270,000 - minus allowable expenses £24,000 Basic rate tax payer. (It's the PPR bit I am struggling with). Thanks
Tax codes and Marriage allowance
Dear Martin and forum members, Thank you for the opportunity to join you. I have the following question regarding tax codes for a married couple. Last year we requested to provide us a marriage allowance as I did not have enough income during lockdown in 2020. Since February 2021, I have been working on a full-time basis,…
Set up a direct debit now with your local authority to ensure you get the £150 council tax rebate
About 20 million households in England - those with homes in council tax bands A to D - will get a £150 rebate in April - here's how to guarantee you'll get it on time. Read the full story here: 'Set up a direct debit now with your local authority to ensure you get the £150 council tax 'energy rebate' in April' Click reply…
PAYE Tax code and removing job expenses
Hi, Prior to July last year, my role required me to travel a number of miles. In 2019/20 instead of completing a self assessment, HMRC increased my personal aallowance. In July I took a new role in the company which means I am now office/home based and do not qualify for the expenses. I have looked in my online hmrc…
Switching tax allowance
Afternoon. hopefully fairly simple process but with a married couple, what’s the best way to switch over the £1250 tax free allowance. I was claiming it as my husband gave it from his but we have now switched roles with childcare does he cancel his and then I resign up for it?
Income tax bands - when does personal allowance loss kick in?
Hello everyone. I am starting a new job soon (after 6 April). With my current job, I am a higher rate tax payer but below the £100k threshold to start losing my personal allowance. In my new job, my salary will be over the £100k threshold, so I will start to lose my personal allowance. Does anyone know at which point my…
Child tax credits confusion
I started new job in November told tax credits. Have had an award letter with payments till April. At the end of the letter is states that after 4 April '££ ' will be paid till further notice. I don't understand this as I thought I would be renewing and does that mean that they could stop soon after that. I did give them…

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Cutting tax

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