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Cutting tax
Archives for May 2022
Discussion List
Pay Rise - Child Benefit Repayments
Hello, I've just received a pay rise, taking my gross salary to £62k. I pay into my company pension through Salary Sacrifice. This means I need to repay all child benefit, which my wife receive into her account. Am I correct in thinking, to be as tax efficient a possible, I need to salary sacrifice a further £12k to my…
Car Allowance and Tax Code
Hi. I've recently given up my Company Car and switching over to a Car Allowance which appears on my pay slip. While I had the Car my Tax Code was reduced to take into account the BIK / BIK Value of the car. But now that I have the allowance the CO2 calcs etc no longer applies. So I trying to understand if my Tax Code /…
Property Capital Gains Tax question
Hello and thank you in advance for anyone who is able to
help me in the following matter. My partner and I have just sold a second property we owned
and are now due to pay capital gains tax. The house was originally bought for £172,000 We sold it for £310,000. When we originally bought the property we received £15,000
from…
Capital gains tax if I sell part of a commercial property?
Hello helpful people, I've put this in the 'cutting tax' category for want of the right category to put it in - really I just want to know how this works. If I sell part of my commercial property (eg 50%), do I have to pay capital gains tax at that point, or do I pay CGT when I eventually sell the other half in the future?…
Unable to reconcile HMRC refund
I'm a ltd.co.director and do SA every year. Following my self-assessment for 2021-22 (soon after year end), had applied to have overpaid tax of approx £1,300 to be paid back into my bank account and got a letter confirming the same. I received an approx £1,900 payment (just says 'Bank Credit HMRC' on online banking) from…
Should I contact the HMRC regarding a potential future overpayment from previous employer ?
Hello all, and thanks for checking this post out. First off I would like to apologise if the forum is the incorrect one, but was unable to find a different category related to tax. The situation, to me at least, seems quite complex and maybe someone can share some knowledge on what I should do. I resigned from my previous…
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