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Cutting Tax: Discussions that will help you
To help you find the Cutting Tax threads quicker and easier we're collating our previous sticky/pinned threads into one single post. Cutting Tax board: Tax instructions - please read Useful Websites TaxCalc alternative? How does the Taxman Know? Inheritance Tax Planning Useful Tools to Help With Taxes Washing Uniform at…
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Claiming Pension Contribution refund 2024/25
My daughter has maxed out her pension contribution to cut her below the £100K 62% killer rate. Her salary was inflated on a one-off basis by a buyout/bonus The contribution was made outside of her firm's salary sacrifice and the pension scheme does not apply the 20% contribution.She's been on PAYE and now and will now need…
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Mistake by payroll department with Tax Code
I’m helping out a friend who has recently started to receive her state pension in June. Her tax code was changed to take the state pension into account and is 32LX. All correct so far. Her June payslip correctly used the code and her payslip shows Tax Basis as Week1/Month1 so all good in June. Unfortunately her July…
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corporation tax loophole
should be clossed down. It is wrong people can pay corperation tax instead of paying 40% rate for over £51306.00 This been stortend down. I expect every MP and most payed over 60'000 who are not on paye are at it hence never talked about on the radio. NO I do not want advice.
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Restarting part self employed
Hi I went employed 18 months ago after 15 years self employed. Submitted my last sole trader tax return last January, no submissions since paid off outstanding balances of what I owed (which worked out more than I thought) Im looking to commence hybrid employed and self employed, but only doing 2-4 days a month self…
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Working from Home allowance
Just had a call to HMRC to sort out my underpayment - dealt with and updated on another thread. BUt incovnersation it appears they have removed my Working from home allowance and advised me that since 2023-24 there is no longer a £6 per week flat refund and that everything has to be calculated and I have to claim yearly.…
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Tax Code
Greetings. I've have various income sources (nothing grandiose, wage plus pensions) and have been channelling big chunks of wage into AVC to avoid 40% tax (am aware of 60% or salary limitation). HMRC changed my code to collect some unpaid tax for last year. They then changed the code again after I started receiving CS…
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Under paid income tax 2024 - 2025
Had a letter from HMRC, who have advised me that I have underpaid income tax by £637.60 Income - £49582.91 Deductions £312.00 - (unknown - edit now known as Job Expenses ?WFH allowance) Tax allowance - £12570 Taxable income - £36700.91 Tax Paid £7340 (correct at 20%) Adjustments - £1168.20 (unknown - edit under payment…
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HMRC Capital Gains Tax example
I thought I understood how the relevant CGT rates are determined. That is basic rate (18%) applies to any gain where the total gain (net of £3,000 allowance) plus taxable income (net of personal allowance) are less than £37,700 (current basic rate level). Where these total more than £37,700 then, where the taxable income…
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IHT – unmarried and childless? Discriminatory IHT .. needs reform !
Hello, a very long time lurker .. first time poster .. so please go easy ! As it stands, my understanding is that members of the “unmarried, childless population” people don’t get the additional “benefit” of the £175k Inheritance Tax Residence Nil Rate Band (RNRB), so are stuck with a measly £325k IHT limit and then will…
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Salary sacrifice car
I’m currently salary just under £90k per year but with overtime and bonus I’m regularly hitting £130k+ per year. My employer has recently started a salary sacrifice scheme for cars. I have seen a vehicle I’m interested in and have an online quote but the price seems different to what I’ve worked it out using a salary…
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Help with IHT following death of already deceased father's widow.
Help needed please. My mother passed long
before my father. He remarried and passed ten years ago BUT his second wife
only passed this year. She was more wealthy than my father and owned a
larger share of their house. My father's estate was lower than the IHT
threshold but his widow's will be higher. Her family have…
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40% tax
Hi All A recent pay rise has shifted me into the 40% tax bracket, the problem for me is as im drawing a private pension all of that income is taxed at 40% my pay rise took me to £51306 pa but now costs me an extra £200 in tax. question is can i put more into another pension with my current work to offset that . i know i…
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My balance still isn't updated after reduced payments a while ago. Do I need to pay what I don't owe
I have requested to reduce payments before over the years and usually it's quite quick to update the new balance. This time it still hasn't updated and now it's the 31st of July and although I shouldn't have a bill as I have over paid in January, the bill is still there as it's not updated yet. If anything I am due a…
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How much CGT does a non-taxpayer pay?
I am a non-tax payer and am looking at selling some shares that I own. Will I have to pay tax on profit above the £3,000 CGT threshold or can I combine my £12,750 tax allowance and the £3,000 CGT allowance ?
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How to guarantee a letter gets to HMRC !
I have now used Royal Mail three ( yes three ! ) times to try and get a letter to HMRC The first two were signed for but when I checked the tracking neither left the actual post office !. I got my £4 back but thats not the point the letter was important ..so this time I sent it guaranteed delivery next day which cost me £8…
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IHT and general tax in 2027
Hi not looking for advice just
some facts. This
relates to the new IHT on pensions coming in April 27 as well as
general taxation. 1.
Will I still be able to pass my pensions and savings to my wife
without any tax or IHT being applied if I die before I’m 75. 2.
Am I correct in thinking that ISA’s will be included for IHT…
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Working From Home Tax Relief 2025/26
Does anyone know what the arrangements are this year? The online form/process looked completely different to last year I've claimed every year since Covid - because my employer closed the office and moved us all to full-time remote workers. I have the signed contracts that confirm this The last couple of years, you…
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Tax calculator.
Is there a tax calculator that as a pensioner I can use to check that my tax bill is correct. Something that can deal with, Savings interest, State pension, Private pension, enter them and out comes my tax forecast. Thanks for any help.
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Salary sacrifice limit
I currently do salary sacrifice and have asked my employer what is the maximum percentage I can sacrifice. My employer has said that there is no limit but my salary can not fall below minimum wage. I work 35 hours a week. So does that mean I have to earn a minimum of £22,222.20? (£12.21 per hour x 35 hours per week x 52…
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Capital Gains and Excess Reportable Income
I have a holding of Vanguard VWRL / IE00B3RBWM25 which was purchased in June 2025 in a GIA. I was looking in to whether I have to report ERI in any tax return. From what I can see online, I only have to report the ERI for tax purposes if I owned the shares on the distribution date of the ERI? As such, if I bought the…
