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One in five councils in Eng/Wal getting it wrong on Council Tax Carers Discount
An investigation by MoneySavingExpert.com into 'the councils that couldn't Care less' has found that, in a spot check, at least 69 councils in England and Wales have information about the live-in Carer Council Tax discount on their websites that incorrectly indicates far fewer people are eligible than really are. This is…
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Tax codes & UFPLS - how do they work?
Hi I'm currently taking two pensions. One has tax code 1257L and the other a tax code of BR I plan to take £24k from my SIPP this financial year, by means of one or many UFPLS. Looking at ii's set up I will be charged emergency tax on at least the first payment so I'm reluctant to make a single large withdrawal (on the…
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Simple? income tax circumstances
I thought I'd try to get an idea about how much tax I'll have to pay this year (2025/6). So I asked three AIs and got three wildly different answers, none of which seemed correct. I have only three income streams: £12k pension income, £18k dividends and £20k interest. (The numbers are rounded up, not least because the…
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HMRC savings interest estimation
Does anyone know how HMRC estimates the amount of savings interest that will be earned in the next tax year? They finally finished totalling my interest for 2024/5 in January (approx. £8100) and this month they have calculated what they believe my interest for 2025/6 will be (approx £7000). Although I've still got a few…
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Does estate receive RNRB if beneficiaries are stepchildren?
I thought the answer to this is Yes, but ChatGPT insists the answer is No. Could someone please clarify?
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HMRC PAYE 26-27
I have been trying to input my projected earnings for the next tax year on the HMRC website. This will include part time job earnings, a small annuity, a state pension due in July and some withdrawals from my DC pension. i have allocated these earnings and submitted them to HMRC online. 2 of the new incomes have been added…
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Marriage Tax Allowance Eligibility Change?
I’m married and have taken my wife’s portion of tax allowance for this for the past 4-5 years. When it was set up, my wife earned under the 20% threshold, and I am a 20% tax bracket earner. However this year things have changed, due to fiscal drag my wife is now approx £2k over the threshold and now pays 20% tax.…
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Update savings income current year
The amount of interest estimated by the revenue is higher than the actual so I have reported the correct figure via my online account. I have now received a letter from HMRC asking me to itemise the calculation with account details. I cannot see where to do this online and the letter doesn't suggest a method. Can anyone…
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How do taxable savings affect a tax code?
Hello all,My code has been 1257L for a few years, but I was notified that it's been reduced to 1187L this tax year.I believe this £700 reduction comes from the taxable savings interest I earned last year, as the deduction amount shown on the HMRC app lines up perfectly to the pound with my account's gross income…
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Self Assessment & duplication of tax on savings
Just as background information - During 23/24, 24/25, 25/26 I received savings interest in excess of £1K that I am now repaying via tax code change for this 25/26 TY. The 23/24 calculation is accurate, however, they have also used 23/24 to estimate my potential interest for 24/25 & 25/26. Although I also received in excess…
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Moved: Whopping stamp duty or wait it out?
This discussion has been moved.
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Marriage Tax Allowance
I am a married woman in receipt of full SRP. My only other income is interest on savings. I do not currently pay income tax. For the past 4 or 5 years I have transferred the marriage tax allowance to my oap husband who does pay 20% tax on his private pension. After April next year assuming that the tax bands do not change…
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HMRC have overestimated tax for savings - how do i inform them incorrect
Hi can any one tell me if it is possible to inform HMRC that I no longer receive interest on savings accounts via the personal tax account (PAYE not self assessment). I can see that it is possible to update income or pension but not how to inform them about a change to savings interest. Have tried the chat but not getting…
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HMRC Tax Bill
Hi, Not sure the best forum on which to ask this question, but I know there are many very knowledgable people on this that may be able to help. My wife has a tax statement (paper) that has been reissued from 2021/2022 where she now owes £192. The reason is that she transferred 10% of her income tax allowance to me, back…
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Online tax account - letting HMRC know I will have no more untaxed interest next year
I have seen several helpful threads and links, but would really appreciate a sanity check. I have been paying a lot of tax this year due to untaxed interest from previous year (I am PAYE only) and the assumption that this year will be the same. I logged into my online tax account and saw the same "untaxed interest" amount…
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Child Benefit Threshold (Scotland)
Hi, Sorry if this is a common question but I just can’t seem to make sense of the gov pages on it. I earned 59k last financial year, and I think that was the first year I went above 50k. Should I be cancelling our child benefit claim as I know I will earn the same again this year? It seems I should complete a tax form to…
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Confused by tax code
Hi Please be nice, numbers are not my forte! I earn £28,399 per annum from my employment. I also have an income of £10,970 from an NHS survivors pension per annum (since 2011). I live in Scotland. I pay basic rate tax on the pension and use my full allowance against my salary ( I used to split the allowance across the two…
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60% Tax Trap
Hi guys, I've been s bit naive with my finances and realised that I'm likely to fall perfectly into the 60% tax trap this year. My base salary plus a cash bonus and the sale of deferred bonus shares from three years previously (which are treated as income for tax purposes) has meant my total annual taxable income is…
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Confused About HMRC Underpayment After Multiple Self Assessments — Advice Needed
I need some advice regarding Self Assessment. I had never previously needed to complete a Self Assessment return. However, in 2021 I began receiving private medical insurance as a benefit from my employer. HMRC subsequently changed my tax code in 2022 and also collected additional tax for a previous year through my code.…
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Recording gift aid on donations to a charity shop
I'm new to SA so engaged an accountant to do the one which was due by 31 January. Now I am looking ahead to the next one. I know how much and to whom I send gift aid monies each month. However, how do I record the donation of unwanted household goods to charity shops, all of which I am registered with for gift aid? I…
