Cutting tax

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…

My son has just graduated university in August and started a new job in September. He has not worked during this financial year prior to this. His first payslip was for a partial month and his tax code was as expected the standard 1257L; he has just been paid for October and his tax code is showing 1249L M1. We’ve just…

Are there any rules (or even red flags) if i chose to change how I report interest from savings on my SA. Using the proceeds from a house sale, i took out 1,2,3 4,&5 years fixed rate savings accounts 3 year's ago, each with £20k, with the intention to open cash isas when each matured. I have been reporting all interest in…

Earlier this year HMRC contacted me by post advising that I owed them money. When I contacted them they said it was because I had two jobs but I haven't worked since mid 2024 but assumed they must be talking about pre 2024. I set up an arrangement to pay by monthly direct debit. Today I received an email saying that HMRC…

Has anyone tried any of the 'free' MTD return software yet to actually submit a real return? Are any of these actually free or will that turn out to be a bit of a marketing lie. I am going to need to do one of these before the 7th Nov deadline.

Hi, We sold a house at the end of the last tax year (we lived in it but moved overseas and rented it for 20+ years). We completed the online HMRC CGT tax form, and paid the figure quoted to us within the 60 day window. Because the sale was at the end of a tax year, all our income figures were input without estimates. HMRC…

because of my annual earnings being high I paid 12.5% NIC contributions lot more than lower income my monthly state pension (the only pension I have ) is £1244 90 pm ,I also get a pension disability allowance .I do not have any other source of income. Prior to budget the PM stated that no pensioners whose sole income is a…

Hi all, Looking for some advice on my 2026/27 tax situation. My earnings ( estimated due to unknown potential overtime / bonus payments ) are looking likely to come in about £2K above the 40% threshold. On top of this interest from savings for the tax year will be at least £1700 Couple of questions…. 1. If my income does…

Can an HMRC informal stand-over prevent my National Insurance refund being used against a disputed PAYE tax bill? Hi everyone, I'm hoping someone with experience of HMRC's internal procedures or a similar situation can advise. I've recently received a letter from HMRC confirming a National Insurance overpayment refund.…

I have been claiming VAT back off our broadband bills for years (the broadband is used partly for my husband's business and partly for home use so we apportion the bill). I recently switched to EE and they won't give me a VAT invoice because I have a residential account. I checked with HMRC and they say that businesses…

Good morning, My wife and I are both retired. We both have work pensions but do not yet get the state pension. My wife retired just over 2 years ago and her pension is approx £11.k pa. Last week my wife received a notification via the app from HMRC. It stated my wife was due a tax refund of approx £6k. Excellent news. We…

Hi My parents have a substantial amount saved over the last 40 years in an ISA to cover any possible care home needs for both of them. They are currently gifting to grandchildren from surplus income. If one or other needs to move in to a care home will the care home fees count as expenses out of income and thus reduce the…

My husband has just received a simple assessment from HMRC He only has a State Pension and interest from savings as his income. His total income for the year of 2025/26 is just over £14,000 However he has been told that he owes £79 in tax This seems really harsh. Does the Starting rate for Savings not apply to people on…

Hi all- life was going well unitl it wasn't - i have residential property that i have a joint mortgage with my ex partner - we have basically agreed what I need to buy him out - I moved out of our joint home - and live now at my sons until we can I can get ex paid off. I also own a buy to let property, that is becoming…

I currently receive a DB pension and drawdown a DC pension so annually I receive just under the 40% tax threshold. I will receive the state pension at aged 67. My DB pension and the state pension together will be just about on the 40% threshold. At this point I'll be left with a DC pot of approx £50k. Is there anything I…

Last year my personal tax was £10k so this January my 1st payment on acount was £5k, when tax return filed in July total tax for the year was only £5.5k Accountnt sent me a tax overview showing I had to pay the remaining balance (£500) in Jan 27 approx 2 weeks after the 31st July I got a letter from HMRC saying I had…

Hi there, I have prepared my 25-26 tax return (not filed yet) and it turns out that because of my dividends I received my PSA is £500 instead of £1000. The dividends are small and just under £300 so tax free but prevent me from getting the full PSA. I am now reading that it seems to be possible to make a gift aid donation…

My wife has received a simple assessment that is completely up the creek. It includes two bank accounts that she doesn't have, and another bank account that she holds as a bare trustee (and which is included on the beneficiaries' tax returns). On the other hand she gets income from a trust fund, which is mostly taxed at…

Please feel to move my post to the right thread. I would like to see whether this UK Residential property CGT calculations is correct before submitting to HMRC. Breakdown of calculations: 1. Total Capital Gain Sale Proceeds: £xxx (edit removed figure) Less Purchase Price: -£xxxx (edit removed figure) Less Total Allowable…

If a higher rate tax payer donates goods to a charity shop can the tax payer claim back the tax difference between basic rate and higher rate. I want the charity to claim the normal basic rate but how do I claim the incremental difference on the self assessment form. The charity has notified me how much has been raised…

OK, so this is a bit complicated (and sorry it sounds like a first world problem) but I will try to keep it simple. FiL called a few weeks ago concerned that there will be a change to IHT rules in the Budget at the end of this month. (Please do not discuss what may or may not happen in the Budget as that would be…