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Tax Return SA100 - Commercial software?
I am registered for self assessment as I'm lucky enough to have interest/dividend income of £11000 . Filling in the SA100 in the past seemed easy enough but now it's getting complicated....for example I have some Banco Santander shares and divis were over £500 and a spanish tax was deducted. Also another share holding had…
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Paying tax on pension fund legacies
Hi there Some of family recently received legacies from my late brother’s private pension fund. Can anyone explain or give me the rationale why the government taxes legacies from pension funds when the person is over 75 and not when the person dies under 75? This seems random and unfair. I’m not wanting to get into a…
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HMRC not transferring spousal 1000 allowance
We've been submitting our returns online for several years now, using a third-party software, with no issues until recently. Last year I transferred the allowed 1000 pounds to my spouse to reduce/eliminate his tax bill. This was calculated and shown as accepted by HMRC with the online submission, nothing owing. He later…
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Is it possible NS&I have sent HMRC the wrong account number?
I telephoned HMRC to check the tax that my parents will be
paying on savings interest for 24/25 tax year. They have two savings accounts. The
first account checked out ok, we had the same figures (HMRC advisor quoted the
bank name and then gave me the last four digits. It turned out the number she
quoted me wasn’t the…
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Rising energy costs and the need to INCREASE TAX RELIEF FOR WORKING FROM HOME
The standard tax relief is £6/week for WFH. I am permanently based at home and my energy bills (alone) have definitely increased by more than £6/week following the price hikes. It's probably costing me more like £2/day now, and that's despite being very conservative with heating (I use a low watt electric rad in the the…
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Employed Full Time and Self Employed
Hello I don't seem to be able to get a clear answer on this anywhere, and a certain online tax calculator tells me I do have to pay national insurance when I'm employed on self employed earnings of £4700, but.... If I earn a full time, employed salary of £30,000 per year, and national insurance is collected via PAYE, am I…
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Estate Capital Gains Tax - Whose Allowance?
I've had a search on here/Google but couldn't find the answer. I am executor of my mother's estate, along with my brother. We are also both the main (but not sole) beneficiaries. We sold my mother's house as part of the estate and have paid the relevant CGT as it increased in value between DoD and sale. We used £3k…
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Quick Question on Opening a Joint Account with a parent re: IHT
I've recently read online that if you put your savings accounts in a joint name with your child, this gets around the 7 year rule and on the death of the parent, the child automatically inherits the balance of the joint account - in the same way as a spouse would. I'm sure this is totally incorrect as the balance of the…
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Electricity Standing Charge an allowable expense?
I have owned a plot of land for 5 years containing a small
outbuilding. During the tax year 2024/2025,
I received an unexpected electricity standing charge bill for £4000 which I
paid (no electricity was consumed). I
was not aware of a live electricity supply until I received the bill. I let the land to a local builder for…
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Two portfolios, one Section 104?
A friend of mine has two offshore S&S accounts/portfolios in France though she's tax resident in the UK. One is a sort of historical accident with just 250 units of one specific ETF (bought a good few years ago) and nothing else. The other has quite a few items and one of those is the same ETF but 1500 units. These units…
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Moved: Switching from Employer Contribution Pension scheme to Salary Sacrifice
This discussion has been moved.
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Under paid income tax 2024 - 2025
Had a letter from HMRC, who have advised me that I have underpaid income tax by £637.60 Income - £49582.91 Deductions £312.00 - (unknown - edit now known as Job Expenses ?WFH allowance) Tax allowance - £12570 Taxable income - £36700.91 Tax Paid £7340 (correct at 20%) Adjustments - £1168.20 (unknown - edit under payment…
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Is my private pension to Aviva tax deductible?
I psy £120 into aviva private pension. Can I put the whole £120 through as a tax deduction in my tax return? Got another one with paye company but they deal with all the tax I guess
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K Code Query
My tax code has changed from 1091L/0 for July to K274 /1 for August & September. This has resulted in a reduction of the tax deducted by around £500 each month. I thought a K code resulted in more tax being deducted not less ? Nothing received from HMRC regarding the change. I don't have access to my online tax account.
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Moved: The inevitable pre-budget speculation on pensions
This discussion has been moved.
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Self assessment confusion - PAYE for 15+ years yet registered for SA
Hi there, long time reader of the site and forums but a new poster. I hope this is in the right section. I created an online tax account over the weekend to check my national insurance contributions. While doing so I see I have a UTR number and am registered for self assessment. Please note i've been PAYE for over 15 years…
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Inheritance tax - Gifts
Can anyone tell me if gifts (given in the previous 7 years) are treated as part of the estate or seperately which could make them liable for tax even though the estate is worth less than £325000?
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1st personal tax return need help
Good Morning Everyone, I'm getting ready to do my 1st personal tax return, and I have a few questions not sure if anyone can help but here goes. 1) I have joint shares with my husband when I declare dividends do I split them 50/50 for my tax return? 2) Is the interest earned on a ISA account after the relevant Tax year…
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Tax implications of selling garden for a single dwelling
My wife & I have applied for full planning permission to build a single two bedroomed house on part of our garden. We intend to sell the plot with planning. We have lived in our house for 14 years & it is our main dwelling. We don't own any other property. What, if any, tax are we liable to pay? I've seen mention of 1.5…
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Reducing adjusted net income with pension contributions privately vs salary sacrifice
In 2024, I started to earn over 100k and paid an accountant to advise me by how much to increase my pension contributions to ensure my adjusted net income was below 100k. They provided me with a calculation and I confirmed in writing with them that I should increase my monthly pension contributions to this amount via…
