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HMRC return 23/24
Another self assessment done. Now to nervously wait for the next couple of weeks. Judging by last years bank holiday involvement, we could be looking as early as 18-19th April this year.
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Should I cancel marriage allowance?
Have been giving spouse the marriage allowance for a few years. Now my income from state pension and small private pension is over my Personal Allowance of £11310 (12570 - 1260). I also previously benefited from the full £5000 Starting Rate for Savings plus the Personal Savings Allowance of £1000. Since I am over my…
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online marriage allowance claim confusion
I have manged to go online to make a claim fro present tax year 2024/25. However I only wanted to claim this year and not backdate. There was no option. I did not want to claim for backdated years. Will this be an issue or is it just how it works online. I managed to do this prior to the cut off for 2024/25. I also managed…
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SIPP contributions to get lower rate tax
With income of £88k and bank interest of £1.5k, I would like if possible to reduce my tax band to lower rate. My tired brain is struggling so could anyone help me in calculating what SIPP contributions would be needed to facilitate this?
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TAX on Medical Insurance - is this right?
I've tried to research thus but to no avail. My work offered me personal medical cover (2 years running now) . It costs the company around £2000 to £2200 a year. I was told that I pay the tax on this. Just got my tax code notice for this year and it says Personal allowance 12570 Less medical insurance 2152 Is that correct?…
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Can't access HMRC personal account for about a year now!
Looking for advice. About a year ago I received a letter from HMRC saying my tax code has changed. In that letter I had two employers, my correct one, and some other I didn'#t recognise. I rang HMRC and after a lot of to and from they said I was subject to fraud, someone was using my details and they'd lock my account and…
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Foreign Life Insurance - Tax for Beneficiary
Hi All, I am French, UK
fiscal resident since 2020, and beneficiary of a life insurance policy opened
by my grandmother in 2007 in France (with a French bank). My grandmother was a
French fiscal resident. I am not too sure what is the exact UK tax terminology
for this insurance so I will try to describe it but please let…
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Updating current year untaxed interest
Following the guidance on the first page of this thread https://forums.moneysavingexpert.com/discussion/6584331/hmrc-over-estimate-of-untaxed-interest/p1 I have attempted to update my untaxed interest figure for 2024/5. In my Personal Tax Account I've gone to Pay As You Earn then Check Current Tax Year. On that page I…
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Working From Home Tax Relief - claiming extra?
Has anyone had any joy in claiming above and beyond the basic flat rate of tax relief (£6 week) for home workers I've read https://www.gov.uk/hmrc-internal-manuals/employment-income-manual/eim32815 and it is still pretty vague when it says "Employees who wish to deduct more than £6 per week/£26 per month will be expected…
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Capital allowances balancing charge
If you claim capital allowances, but have a private use element (taken into account when the capital allowances were claimed), what happens when you sell an item? For example if you have an asset which cost £100 and claim £100 capital allowances less £20 private use - your pool shows £0. But then you sell the asset for £50…
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Income tax on inheritance
This is not a question about inheritance tax itself, but rather income tax payable by the recipient of the inheritance. I'm assuming that the recipient is not the spouce or civil partner of the deceased, and that they died aged 75 or above. I'm aware that things may change at the budget or thereafter, but the situation now…
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Covid WFH tax relief
Me and my partner both applied for the above during covid as we had to work from home on limited days. How do we check this relief has been given should we have had something from HMRC can we see it on our tax coding ? We are both basic rate band
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Tax Code Change(well 2 actually) After Cashing In A Small Pension 1275LX And D0X?
I've just cashed in a small Pension worth £3000 ish. I have the HMRC App and have just noticed that my Tax Code has changed 'because I have a Private Pension' and 'I have 2 Income Sources' Do they think I'm getting a monthly pension?(I'm not, it was a one off). Have I been overcharged? How do I claim it back if I have? Ta…
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Tax Due - Next years pension paid this year
I have a pension that is due to pay on 6th of the month. I have been paid the payment due on 6 Apr 2025, a Sunday, today 4th Apr 2025. I am assuming therefore that it will fall within 24/25 PAYE and not next years income. Or does the limitation of the banking system still reflect that the payment accrues next year?
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Cabin Crew Uniform Tax Back?
I have just found out about the £720 back in tax for cabin crew. I’d heard about it before but if I’m honest I didn’t really pay much attention. Then I saw the Covid tax back post on MSE which led me onto the uniform post. Can someone explain this to me? I’ve been working for BA for almost 3 years - but 3 tax years - I’ve…
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Reducing tax (and avoiding the 45% and 60% bands)
Hi, My income this year (after pension contribution of $38K, including both mine and my employers contribution) is £149K. If I want to remain below the £100K taxable income, how much should I put into the pension, so that I can get back to 60% and 45% tax I have paid this year? Is it 23.75K (as that would be what I was…
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Understanding Tax on SIPP
I recently withdrew £14500 from my SIPP using UFPLS. I received £3,625 as the tax-free element and £7,572.94 as the taxed amount. While I understand how the £3,625 was calculated, I am unsure about the calculation for the £7,572.94. Could someone please explain the steps involved in this calculation? Thank you!
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Taxable Savings error
Just received my tax code for 2025/26. HMRC say I had £200 more than I can find in my records. It may be my records at fault but how can I get details from HMRC on the interest that has been reported to them by my banks & Building Societies
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Business Rates Calculator
Hi all, I have tried many times to calculate business rates for my clients but noticed there wasn't one available online - so I have created a basic Business Rates Calculator here: RatesCalcPro.com I would welcome any feedback, comments or suggestions and hope it is useful to some of you. Many thanks
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2024 pension lump sum
I am fortunate to have the problem I know. I have employer wages of 49k. I've got savings earning around 2.5k. Rounding to 3 as it's easier on the maths. My total income is therefore 52k. This means I am now a 40% tax rate payer. HMRC confirmed. I want to make a lump sum payment to my pension as I know I can claim tax back…
