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Tax treatment of Teacher's Pension Refund due to Goodwin Ruling
Back in the day, male teachers would have a widow's provision on their pension, but married female teachers didn't have equivalent widower's rights. Then things were changed, but if you had been working before the change date, you could pay to have service pre-change counted towards a widower's pension. The Goodwin ruling…
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Banco Santandar Share dividend other Foreign dividend income and SA100 Does anybody Know?
So much confusing advice surrounding foreign dividend income especially Santandar - there must be thousands of people still holding these from the old Abbey National days - surely somebody can demonstrate the correct way to enter the figures on a tax return? Assuming the dividend amount is above £500 - In my case I have…
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Capital Gains Tax
Hello everyone. I recently paid a little over £9500 Capital Gains Tax following the sale of a property that I partly owned. After paying the tax it occurred to me that I had perhaps been a little hasty. Let me explain. I use an investment management company to purchase stocks / shares etc on my behalf. They (usually) send…
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Second home council tax charge
I have received a council tax bill for a second home, which includes a 100% council tax premium. I challenged this with the local authority on the basis that the home was in the process of being sold, so I should be exempt from paying the 100% uplift. The local authority have now responded saying that because I didn't use…
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NHS / HMRC mileage quandary.
HI all, I’m hoping someone might be able to help me work out my mileage
/ pay implications if I take a new job (working in the community as a nurse for the NHS). I am already a community nurse and currently work in a job where I
commute to an office base, where I pick up a pool car and then go out on my
visits using that.…
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IHT implications when returning a gift?
Hi, I was gifted a rental property by my father. It is mortgage free and has a tennant in it. Due to a breakdown in relationship he wants it back. If I sign the property back over to him, and he dies in (for example) 2 years time, then will I still be liable to the IHT ? I'm confused, because, I see 2 conflicting points:…
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Informing HMRC of retiring and tax code?
I am retiring at the end of December and I am currently a 40% tax payer with my employment and I will remain a 40% tax payer of course for the rest of this tax year when my employment ceases in December. I am also currently in receipt of a small pension from my late wife and I have a D0 code against it, i.e. it is fully…
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Foreign Income S.A.
Hi I’m filling in my SA and have one foreign income item to enter it’s from paid work. When I view my calculation the gross amount of the foreign income isn’t included in my total taxable income and I can’t figure out what I’ve done wrong. I’ve entered under the foreign income section both the gross amount and the tax I’ve…
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Reducing IHT
Something I’ve been considering for some time, so not a knee jerk reaction. I’m 75 and with our existing financial set up, my Estate would be subject to IHT under current rules. Small SIPP would increase IHT from April 2027. I want to make gifts to my son to reduce IHT. There is no question of gifting amounts which could…
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Reporting/Paying CGT on line
I recently went on line to use the HMRC online CGT
reporting/paying website I’m doing it for the wife who has 2 disposals to
report. We are not obliged to fill in an annual tax return. One disposal shouldn’t be a problem Unit trust bought on one
day disposed on another day. The second disposal is part of a s.104 holding of…
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How to enter lump sum payments into personal pension on self assessment return
I am unsure as to how to handle payments into my personal pension on my self-assessment return. I made regular monthly contributions plus a couple of slightly larger one-off contributions. Is this what this box is talking about? "Total of any 'one-off' payments to registered pension schemes included in the 'Payments to…
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Self Assessment and Interest on Savings
I opened 2 savings accounts when my kids (now adults) were small. On adding up the interest for my self assessment, I split it in halve (2 adults) but this is seemingly incorrect. To add to the confusion, I put the reduced (halved) interest in the wrong box - the taxed at source box. E.g, £450 but the bank contacted hmrc…
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close company?
If I am a 50:50 shareholder and 50:50 director of one company, if I start another company where I am a 100% shareholder and 100% director, would they be deemed to be close companies? I believe not as I have an equal but not controlling stake in the first company.
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Tax on Bonus Payment Query
Hi all, My employment end date is the 31st Jan 2026 and I will be paid my final salary and the 2025 year bonus as one final payment. In order to avoid paying more tax in the 40% bracket, does it make sense to ask for my job end date to be 1st February and for my bonus to be paid in February's payslip. It would act as a…
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"Dividend tax credits" for contract income - still applicable?
Hello MSE forum community. Once again I would like some guidance on a tax question. Thanks in advance.I am preparing my 2024/2025 tax return. In this tax year I paid myself a dividend as a result of winding up a company I used for ex-IR35 contract income back in 2015/2016. I've read some references to tax credit on…
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Removal of Tax Allowance After End Of Tax Year?
New one on me.... Had a notification from HMRC for year 24/25, which has recalculated that I owe them £260 in income tax, but their calculation shows this with the marriage allowance removed. My tax code for the year (only PAYE income) and on my P60 shows personal allowance as including the marriage allowance. The…
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PAYE non tax refund this year- not working anymore
I was made redundant in June, and at 53, I have decided to take early retirement. I filled in the correct form for a tax refund, since I won't be working anymore, and was hoping for a substantial refund, possibly before the end of this tax year, but I received a letter back to say to apply again after new tax year🙄 No…
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Underpaid tax
Hi, I'm probably due to pay some more tax for 2024/25. PAYE income + pension reckon I have underpaid by about £7 Interest on savings exceeds £1000 personal allowance and I reckon I need to pay another £60ish. I have been into my tax account on HMRC/ gov.uk and message there saying I have paid all tax due for 2024/25, the…
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Payments on account not deducted from Tax Return
When I submitted my 23/24 Tax Return, as well as paying my tax owed for the year 23/24, I also had to pay two payments on account for the year 24/25. This is the first year I have had to do this. One payment was due 31/1/25 and the other 31/7/25. I paid them both in good time (one before January 2025 and the other by…
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Action Required: HMRC Application Rejected for Self Assessment
Hopefully someone may have come across this before.A friend of mine needs to register for self assessment and has tried to do so a total of three times now, but each time after a varying period of time they receive an email sayingWe are unable to process your application because the address provided does not match our…
