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offshore money, offshore ETF traded on LSE - remittance ?
Keeping it short. UK resident, paying tax on arising basis since 2009. Have offshore "mixed capital" (US Dollars) from pre-2008 days (not yet remitted to UK). [Non dom laws were pretty much revoked in 2008]. If I wire this offshore money (US Dollars) to Interactive Brokers in USD and buy Irish domiciled USD denominated ETF…
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Adjusted net income help please.
As an illustrative example, 1. My total gross salary is 110000 2. Salary after salary sacrifice pension contribution, additional bonus and company benefits is 105,000 How much private pension contribution should i make to bring my adjusted net income to 99000. Thanks
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Capital Gains tax on 2nd home - dispute with HMRC
Hi Folks. I wonder if anyone can advise the best approach to a rather unique issue (or at least I think it is). We had a 2nd home for a few years, we bought it, did a load of renovations, then we let it out as an Airbnb for a while, before selling it in the spring of last year. We assumed that we would declare the capital…
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HMRX Tax on Government Pensions for full year when only started receiving pension 4 months ago
Both my husband and I became 66 about 4 months ago and began to receive our Government pension. He noticed that HMRC had changed his PAYE code and when he went onto the HMRC website he saw that that HMRC have assumed he will be getting a full year of Government pension for the current tax year and not 4 months worth. The…
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tax refund
hi all can someone advise me i emptied a small dc fund last may and paid too much tax and due a refund also claiming carers allowance which has now stoped and declaired, i am now due a refund on my tax i called hmrc and they said i have to wait till the new tax year can anyone confirm this can i not claim it back now, i am…
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Annual party -partner/family attendance
I am director & only employee of my LTD company. Under expenses allowances there is a £150 max per head for an annual party. If my husband comes party ( hotel) with me can I claim £150 for him also =£300 total expenses allowances please?
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Am I on the right tax code?
I'm paye elsewhere and registered self employed. I did a day teaching through an agency and received this payslip. Am I on the correct tax code?
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How to get a tax rebate inc Tax Code Checker
Hi folks, This is the discussion thread for the MSE guide to checking your tax code and possibly getting a rebate (and dealing with underpayments) How to get a tax rebate (inc Tax Code Checker) Please feedback on the article in here, plus add suggestions for improvement - or just discuss it between yourselves! If you want…
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Undeclared Income But Still Below The Basic Threashold For Tax
I receive a small works pension since 2011. Started receiving Carer Allowance in 2020. The two together have always been below 12,570 by at least 2,000. Saving have never been more than 1,500. I've now just started to claim my State Pension and after downloading the App discovered that HMRC do not know about my Carer…
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Tax payment options after self assessment online
Does anybody know if there are any payment options other than a one off single payment online ? Maybe a monthly direct debit option set up with your bank up to the January deadline, or anything else ? Thanks.
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Online Tipping/Gratuities
From the viewpoint of a tip giver (not a tip recipient), can anyone point towards the HM Revenue & Customs regulation upon being charged VAT upon voluntary tipping? I can only find E24 which states: yet online sites add VAT 🤨
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Tax confusion
Hi I’d be grateful if anyone can help me out please, I’m trying to bring myself within the basic rate tax bracket. i took early retirement and have a company pension income of £17,027.92 pa tax code BR. recently I started a new job salary £60k plus car allowance £5,610. I’ve bought some holiday which I think will reduce…
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Inheritance advice needed please!
I am over 75 and my wife is just short of State pension Age. We have an income of just under £15K a year made up of my State pension, Pension Credit Guaranteed Credit, and an annuity of around £700. What savings we have are in Premium Bonds. We do not pay tax. My wife will receive an inheritance of £120K or so later this…
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Settlement Agreement (ex gratia) and PILON tax treatment.
I appreciate this might be a complicated question, but could anybody give an idea of how much I would expect after Tax and NI, on a ex gratia payment from my employer of £100,000 and a PILON of £16000 in April. With no plan for any further income in that tax year and also at the point of payment I would have earned gross…
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20% tax band question re tax free allowance for bank interest
Basic Rate 20% is up to £37700. I'm lucky enough to earn bank interest and unfortunately with state and private pensions have just tripped into the 40% Rate. My 2024/25 tax calculation, states my Basic Rate 20% is £37200. After querying with HMRC they sent me a letter stating: You can earn £37700 @ 20%. The first £500 of…
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Negative Tax Code
I have just received a negative tax code for the coming year, K371. Never had a negative code before. How do I work out how much tax should be deducted, i.e. how much income should be taxed at basic rate.
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When to advise HMRC of estimated income
I’m an additional rate tax payer on a K tax code (K72). I’m due a bonus (>100k gross) in July which is paid in Shares therefore I’m unable to sacrifice to my pension pot. I’m planning to crystallise these shares when they are exercisable in July (to avoid any CGT) however I’m unsure if I’m better to advise HMRC of my…
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High earner tax - confused!
Hi all, I’ve had a number of promotions over the last few years and lucky to have experienced a significant increase in my earnings - I am extremely grateful but also getting increasingly confused by what this means in terms of tax implications! I noticed my tax code is due to change from 1257L to 335T next month. I…
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can attourneys do the GOEI payments?
I am trying to set up GOEI for my dad. He has written a letter expressing his wishes to do this, and included usual details of how much to whom etc, however our solicitor is saying must be careful doing it myself as i am attourney and i cant gift for dad. Dad is 86 and has never done admin, so there is no way he'll learn…
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HMRC sent online marketplace letter for undeclared sales.
My partner recieved a letter from HMRC today stating they believe she has undeclared sales on marketplace up to year ending 22/23. I have an online eBay business with various eBay accounts and some are in my name, some are in my wife's name. I have emailed them to the email address on the letter telling them that the…
