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Calculating whether any CGT on sale of shares
Can anyone help me sort out how to do this please? I am intending to sell all my shares, which have a total value of around £9-10k. They are shares in 4 companies (Barclays, BT, BP and Lloyds). Most were inherited by my husband in 2001 but placed in my name as he was by far the higher earner at that stage. I think Barclays…
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Tax on non-ISA savings interest
Hi, In January 2025 I got a tax bill for interest accrued on non-ISA savings for the 2023-2024 year. I agreed with the amount (£3668, of which £2668 was taxed at the 20% rate). My tax code was adjusted accordingly. A few weeks later in February 2025 I got another tax bill for a similar amount (approx £3100 interest) and my…
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capital gains tax
Can anyone help me with this please ? My in laws owned their house as Tenants in Common which meant their share of their house was independent of the other. My Mother in Law died in 2010 leaving her share of the house to her 2 children equally. Probate was granted The house was retained and let out whilst my Father in Law…
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Dividends taxed at source... with the "source" being the UK
I had shares of a UK company in an offshore acct with four div'd payments for tax year 2024/25 (they're now sold :smile: ). Let's say these four payments add up to £1000 and furthermore that £200 (ie 20%) of that was tax paid at source, the source being the UK. I know that I have to give the £1000, not the £800 I actually…
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Banks causing delay in overpaid tax?
Hi all I am due overpaid tax for 2024/2025 due to being unemployed (and not receiving benefits) for a few months before starting a new job- the overpayment was not paid back through my PAYE wages because I started the new job in March and my tax code was not a cumulative one. I’m aware the website advises overpaid tax is…
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Stamp Duty Land Tax for non resident
Hello. I am getting such conflicting advice and wondered if someone can help. Situation - uk citizen living abroad on 2year work visa. buying a property in uk as buy to let (only way to get on the ladder at the moment - its complicated) 1st time buyer, dont own any other property. I believe person only has to pay 2% non…
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Future UK share dividends and tax code
Finally got my OH's tax sorted out recently. They owed overpaid tax for 23/4 & 24/5 on overestimated bank interest whilst my wife owed them a small amount due to the reduced share dividend allowance in 24/5. They have altered her tax code for the rest of 25/6 and included an estimate of the amount of interest to be earned…
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Opening New Ltd Co's due to expansion
I operate within the automotive industry and looking to expand into other avenues. If anyone can provide advice, it would be gratefully received. I currently buy, restore and sell my own classic cars, however, if I was to offer services such as the following, would I be able to run them as their own limited co, independent…
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Inheritance tax - gifting money for extension works for disabled granddaughter
My daughter has a progressive disability and my parents want to help us adapt the house for her. They are concerned about us having to pay inheritance tax on any money that they gift us if they die within 7 years. They know about the £3000 yearly gift but want to help more than that as the building works / adaptions will…
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Wedding Gift
Hi I understand we can gift £5K each to son's wedding, plus £3K annual gift allowance (as well as £3K from last tax year if not used) How close to the wedding does the £5K need to be for it to be classed as a wedding gift, wedding is in June 26? Funds will be used to pay for the wedding, which will need paying before the…
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Mortgage interest on buy to let
If interest has been paid on a mortgage financing a buy to let, but not claimed as an allowable expense against income tax for 3 years, can previous years tax returns be amended (resulting in a tax rebate for tax overpaid) for these previous years? Thanks
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Closing LTD company
I've not contracted for a couple of years now and next year's books will have no activity apart from paying off HMRC. I've informed them that I'm dormant I have around £15k to withdraw. What do I need to do and how much roughly will go to them? Thanks
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Tax treatment of Teacher's Pension Refund due to Goodwin Ruling
Back in the day, male teachers would have a widow's provision on their pension, but married female teachers didn't have equivalent widower's rights. Then things were changed, but if you had been working before the change date, you could pay to have service pre-change counted towards a widower's pension. The Goodwin ruling…
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Banco Santandar Share dividend other Foreign dividend income and SA100 Does anybody Know?
So much confusing advice surrounding foreign dividend income especially Santandar - there must be thousands of people still holding these from the old Abbey National days - surely somebody can demonstrate the correct way to enter the figures on a tax return? Assuming the dividend amount is above £500 - In my case I have…
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Capital Gains Tax
Hello everyone. I recently paid a little over £9500 Capital Gains Tax following the sale of a property that I partly owned. After paying the tax it occurred to me that I had perhaps been a little hasty. Let me explain. I use an investment management company to purchase stocks / shares etc on my behalf. They (usually) send…
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Second home council tax charge
I have received a council tax bill for a second home, which includes a 100% council tax premium. I challenged this with the local authority on the basis that the home was in the process of being sold, so I should be exempt from paying the 100% uplift. The local authority have now responded saying that because I didn't use…
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NHS / HMRC mileage quandary.
HI all, I’m hoping someone might be able to help me work out my mileage
/ pay implications if I take a new job (working in the community as a nurse for the NHS). I am already a community nurse and currently work in a job where I
commute to an office base, where I pick up a pool car and then go out on my
visits using that.…
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IHT implications when returning a gift?
Hi, I was gifted a rental property by my father. It is mortgage free and has a tennant in it. Due to a breakdown in relationship he wants it back. If I sign the property back over to him, and he dies in (for example) 2 years time, then will I still be liable to the IHT ? I'm confused, because, I see 2 conflicting points:…
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Informing HMRC of retiring and tax code?
I am retiring at the end of December and I am currently a 40% tax payer with my employment and I will remain a 40% tax payer of course for the rest of this tax year when my employment ceases in December. I am also currently in receipt of a small pension from my late wife and I have a D0 code against it, i.e. it is fully…
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Foreign Income S.A.
Hi I’m filling in my SA and have one foreign income item to enter it’s from paid work. When I view my calculation the gross amount of the foreign income isn’t included in my total taxable income and I can’t figure out what I’ve done wrong. I’ve entered under the foreign income section both the gross amount and the tax I’ve…
