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New Income Tax Checker
Hi folks, This thread is to discuss the new www.incometaxchecker.com Please click reply to discuss Dan
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What is included in Taxable Income?
Hello all, I'm struggling to find a financial advisor who can help before the 5th April deadline, so I'm hoping somebody can give me a view on the following: In the past month, I have paid for the liquidation of a limited company (with cash assets of around £95k) of which I was the director and sole shareholder. This was…
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Claim for working from home tax 2020/2021, 2021/2022
Hi, I returned to work from maternity leave July 2020, and at the time due to covid, we had to work from home. for 2021/2022 tax year, the offices started opening up, and it was made mandatory/formal end of 2022. Can I claim tax relief for these?
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Help calculating adjusted net income
Hi all, I am very confused about how to calculate my adjusted net income for the end of the current tax year. This is the very first tax year where I know I'll be very close. From agonising over the guidance and various forums and Q&As, I believe the below is how to calculate it, but I don't know if any of this is changed…
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Can you deduct the £3k exemption from a larger gift for IHT?
Hello. My mum made some gifts under the threshold, but there are assets over the threshold so IHT is due. The total estate depends on what gift value is declared. I know I don't need to report small gifts under £250 or gifts in a year up to £3k. My mum made a gift of £20k one year where she had made no other gifts either…
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Husband is over the 40% threshold - what happens to marriage tax allowance?
I've just found out that my husband is over the 40% tax threshold for the current tax tear. His P60 shows earnings of £53144.24. I applied for the marriage tax allowance many years ago, as I'm a non-taxpayer. Presumably we are no longer eligible for it? Do I need to notify HMRC, or will they figure it out anyway? Would…
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Short term lodger
Hello! An overseas friend of a friend wants to send their 18 year old daughter to the UK for a couple of months in the Autumn to enrol on an English language course. They've asked if she could stay with us in a spare room while she is here on a paid basis. From what I can tell, so long as my wife and I do not receive more…
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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…
