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Can I get a tax refund on last year's self assessment by contributing to a pension this year?
Hello, I've been self employed for a few years, during which time I wasn't earning enough to pay into a pension. I now have a PAYE job as well as the self employed work I do and I would like to make some additional pension contributions. Can I make retrospective pension contributions for the years I was self employed only?…
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Expensive CGT mistake
My uncle died leaving me his farm equipment. There is inheritance tax to pay. Whilst he was terminally ill, using a power of attorney, I sold a tractor at auction for £42,000. The value was written down to nil on his retirement / cessation of business years ago. This creates a £42,000 * 24% CGT liability. The sale proceeds…
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RNRB unused query
Hi . I thought I’d got my head around this , but am now questioning my calculations due to differing posts on here. My Mum passed away in August 2016 and everything passed to my Dad who we lost in March this year. As there was no RNRB in place in 2016 , can I claim it ? I thought I could claim the full £175 k but now I’m…
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Capital Gains Tax and having a business
Hello everyone, I have recently downsized my property and am now occupying my late mother in law’s property with my husband. I know I wouldn’t normally need to pay CGT because of the RPR, but I did run a business from my property for about 2 years, 16 years ago. It was more of an expensive hobby than a business and I…
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clarification on a letter from HMRC
Please can someone help. Last year for the first time the interest I received from multiple saving accounts was over the personal saving allowance, in fact, I received about £1370 in interest. The email from HMRC read that my options are either to pay about £70 extra tax manually, or they will adjust the Tax Code, to…
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Hmrc holding refunds
Hi Hmrc don't payout any overpaid tax even after clicking their links that say they will pay the money they have overcharged after 2 weeks as stated in the Link or someone from Hmrc will be in touch; every year its the same with them and even though I did my tax return in June just 2 months after the New tax year I am…
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What are your thoughts on potential govt changes to salary sacrifice
https://www.dailymail.co.uk/news/article-14756523/Is-Rachel-Reeves-planning-stealth-tax-raid-pensions-HMRC-explores-shake-salary-sacrifice-schemes-Chancellor-comes-pressure-fund-axing-two-child-benefit-cap.html
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Taxes on purchase of half an inherited property
I recently became 'tenant in common' (50/50 split) on a bungalow with my cousin (who is now based in America, in case it's relevant). The bungalow was originally left entirely to my cousin as part of an estate following the death of my Aunt, but my cousin wanted to gift 50% of the property to me, with me to buy the…
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Council tax
Hi I was hoping to get some help on council tax. My partners wage can fluctuate every month. So this results in different council tax bills being sent out. Sometimes we qualify for council tax support, sometimes not. However, when we haven't qualified for it one month, I'm getting a new bill saying we've been overpaid…
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Self assessment calculation query
I have filled in all the information in my self-assessment online form (first time doing this). When I hit the button for calculating the amount of tax owed, it comes up with a breakdown stating my personal allowance is 12,570. Now my tax code is 1033N, so that clearly isn’t right. It says in my employment history in the…
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Capital Gains Tax
Hi, I am hoping for some guidance, I have read HMRC website, but am still confused. My partner has sold his house today. We have both lived in the house for 31 years as our main residence and moved out on April 5th 2025 into our home we now live in that we purchased together. Would he have to pay CGT please. Many thanks…
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Deed of gift - costs, timelines and DIY?
I have a 50% share of a house I need to gift to my mother, who already owns 25%, within 6 weeks - in order to obtain a stamp duty refund. I have had a few quotes for this from solicitors of around £900. This seems excessive for what looks like a simple process - does a solicitor need to be involved? They have also advised…
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Holiday Rental property….. allowable expenses
Should I apportion property expenses to be claimed against rent over 52 weeks or just the weeks occupied . It’s important as I use the property for 4 weeks a year and rent out on average for another 12 weeks . So if the rental expenses are say £100 per week can I claim 48 @£100 or just 12@£100 ? If it’s the former I make a…
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CGT dilemma
I purchased a rental 2 years ago, that I'm certain I overpaid for - it's in a bit of a rundown area. It was bought at £75k. I'm selling to a relative for £65k. The relative's mortgage valuation was £65k. On checking online, chatgpt says I need a valuation once contracts have been signed by both parties - is this when…
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SA and Gift Aid charity shop donations
I understand I can include Gift Aid from donations to charity shops on my SA. If the letter says eg 'we've been able to reclaim a total of £44.60', is £44.60 the amount that I put in the Gift Aid payments box? Thanks (and apologies if this is a stupid question).
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CGT and LBTT
On doing online research, it says that LBTT is deductable for CGT purposes. My question is - is ADS , which some online platforms say is a form of LBTT, also an allowable deduction?
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Tax on Overtime
I'm in a permanent job and get one Saturday a month as OT, but I had the option to do 3 Saturdays this month, and all my colleagues are saying that the money from the 3rd Saturday will all be taxed and there is no point in doing more than 2 Saturdays, as this will be taxed at a high rate, etc. I'm earning less than 45k a…
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CGT - CIP & Share Sale - Overseas Resident
Hi All, Just looking for some advice in what should be a relatively straight-forward case.... I am a Brit, but left in December 2021 to live here in Singapore. We're moving to Switzerland in August 2025, but have no plans to return to the UK anytime before 2030 (at least). Anyway, I file a self-assessment every year as we…
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Tax Code Confusion
Hi all Can someone help me in regards to TAX CODE I was just checking my Husbands Tax relief and thought i would check mine, and there seems to be some confusion I left a job on 1/12/2024 and it is showing my tax code as K269X, i then started a new job on 09/01/2025 and my tax code says BRX and says i have been taxed 20%…
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Tax
I want to hold both cash ISA and S&S ISA and would like to understand the tax implications. is it better to use a maturing cash ISA to invest in S&S ISA or transfer the maturing cash ISA to another Cash ISA, and use cash to invest in S&S/ Funds which will be taxable when I sell. (I hope not to sell the S&S until I am…
