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Self assessment payment showing as credit rather than paying the tax bill
I do my dad's self assessment. This year he owed just under £50, and we made the payment a few weeks ago. On his Self Assessment page, under "Your balance" it says that he's in credit by the amount that we paid, and under that it says that this will pay his tax bill on 31 January 2026. Last year he owed just over £60, and…
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SEIS and Self-Assessment
I'm struggling with the SEIS3 claim form, where I'm trying to claim re-investment relief on a gain which I've re-invested into SEIS funds. From what I understand, when I calculate a gain for CGT purposes I pool the shares together and calculate the gain against the pooled cost. So each year I add acquisitions to the pool…
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Tapered gifting
400k Cash + House 350k (left to child) = 750k total 325k plus 175k RNRB = 500k threshold before IHT So want to potentially gift 250k and get that total down to
500k Tapered relief doesn’t kick in until you gift over 325k? Or does it now mean it doesn’t kick in until
over 500k? (because of the RNRB)
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Time delay after submitting SA1 Form?
I've just submitted my SA1 Form, but still can't see an option to fill in my tax return. Is there a time delay before I can actually start entering the relevant figures into my tax return? If so, will HMRC advise me when I can start completing the return? Or maybe I'm looking in the wrong place - where can I find the "Fill…
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Self assessment income tax and capital gains tax. How do payments on account work for future payment
Hi all, So with each tax year, you pay part of the current tax year's bill and then you pay a part of the following tax year's bill in advance both in January and then pay a part of the following tax year's bill again in July. This is income tax related. They say if you predict you will earn more or less than this, you…
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Falling foul of the PSA - Self Assesment?
With 2 months to go it looks like I am going to fall foul of the 40% PSA cliff edge. My gross salary will be £49K and some change, then with around £1K in savings earnings. Combined I'm just going to tip into 40% bracket. Not the £100k plus trap, but annoying none the less. What's the easiest way to resolve it? I can't up…
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Why my income tax has been calculated yet for 6 April 2023 to 5 April 2024?
I have just logged into my HMRC account and noticed that my income tax has not yet been calculated for the period from 6 April 2023 to 5 April 2024. I filed a Self Assessment for the 2022–2023 tax year, but not for 2023–2024, as it was not required. Should I contact HMRC to get this sorted, even though I was advised not…
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Doing tax return, questions about different income sources
I've worked out after deducting expenses from income on self employed work I earned £250. I worked for two companies mainly. I think first didn't pay my tax (not sure) but second did. Do I input these figures in photo from my P60 into my tax return? Are they from the two companies? As well as my self employed income or do…
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How to deal with undeclared rental income from previous years
I’m trying to support my son’s girlfriend. She and her sister inherited a house 10 years ago, which was held in trust before transferring to their ownership when she was 18 (4 years ago). Since then they have each earned approx £7k/pa rental income (before it went to the trustees and they were given money when needed), but…
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Carers allowance expenses sheet vs AMAP mileage
Hello, i am self employed and sent 24/25 tax return with CA claim. They got back to me with a table to fill in with business vs personal expenses. I use AMAP rates for delivery work, and not sure how to fill it in. Situation is complicated - 2 cars used partly for business partly personal, and personal is between me &…
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Landlord self assessment query - relief on mortgage interest
Hi all, It's that time of year again... i hope everyone is filing happily! I have completed my self assessment (not submitted) for my buy-to-let flat and it appears that i'm not getting the full 20% relief for finance costs. The "view your calculation" summary states: - minus Relief for finance costs £8,180.00 reduced to…
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Is my understanding of this tax code notice correct ?
Hi. I'm hoping someone knowledgable about the tax system and deciphering tax code notices can assist. We live in Scotland and my wife is retired and in receipt of a DB pension of £3,400 p.a. and drawdown from a SIPP of £8,400 p.a., i.e. £11,700 gross p.a.. She also has a savings account which last tax year earned £974…
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Help: Contacting HMRC To Change Estimated to Actual Untaxed interest
With the
great help of Eskbanker I managed to access HMRC and find the place where I can
notify them of the actual interest earned rather than their estimate for this FY. I’m
concerned that after filling out the form but NOT submitting it, that the
interest figure is shown twice and I certainly wouldn’t want HMRC to…
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Counteracting high tax by paying extra to pension?
Due to interest on savings my tax code means I'm being taxed a lot more at the moment. Would it be a good idea to pay extra into my pension and get the tax back that way?
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Confused by self assessment
I registered for self-Assessment because as an employee my taxes pays you earn but because of the surveys I do on the side, that brought in other income of about 2 1/2 K last year. The HMRC tax portal is showing I’m late for 23/24, which I didn’t even know I had to do, but 24/25 is showing that I don’t need to do anything…
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Tax on interest and pension
Hi, I’m receiving the state pension for the first time this financial year, so April 2025 to April 2026. The income from my pension will be £13,733.94, I’ve received the winter fuel payment of £200 and I’m not sure that I’m entitled to it, I thought that it was people born before 1950 or something like that, but I’ve just…
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Help with SA101 Chargeable Event Certificate
Thank you for viewing my post I've received a letter from HMRC that i must complete form SA101 ( paper not online ) on behalf of my Dad who past away. The request is due to a chargeable event certificate from his life insurance policy . My confusion is which box i need put the gain amount in, its either Box 4: Tax treated…
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Help with Capital Gains Tax form
Hello, a question about filling in the form to pay capital gains tax. If you sell 2 assets to the same person for a combined price, do you need to list each asset on the tax return or can it be treated as 1 entry / 1 total ? tia sx
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Tax deducted from source
Both our pensions (not state) are being deducted at source to pay tax we owe. We create too much interest on our investments, beyond what's allowed. These investments are in joint names. Does the HMRC look at joint accounts and tax us both, half each? Or the full amount for each of us? Is it better not to have investments…
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Capital Gains Tax....will i need to pay it?
Hi folks , hopefully someone can give advice here. My dad died over a year ago and left his house which he built around 50 years ago in 'liferent ' to my Step-mum ( his wife), she gets to live in it as long as she wants, and only once she has passed away the house was to go to myself and my brother. Both my brother and…
