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Car Lease Tax Question
hi i have a small ltd company, just me providing a service to my clients. On average it takes £50k-£60k per year with very little overheads. I run my own personal car to visit local clients so probably do 6k miles per year, i used my personal car when i set up just over 3 years ago as i didnt want to buy anything newer…
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Trading Losses
Hi, Just wondered, I made a loss of £26,000 when buying and selling shares, in the tax year 2022/23. Is that anyway I claim some kind of back for this loss. TIA Johnboy
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Does my bank report my savings to the HMRC?...
Apologies if this is an obvious question/answer to some, however does my bank report my savings to the HMRC? and if so, then why do I need to declare interest on savings on my self assessment return?
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Pensions and salary sacrifice
Hello, I will have just tipped over above the 50k tax bracket this tax year to about 51.2k due to a bonus. My wife only earns around 5.5k a year and is in receipt of child benefit for our son. I pay a salary sacrifice pension of around 2.9k a year. Do the HMRC automatically take this pension payment into account to reduce…
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Inheritance Tax on Franco-British Estate
Hello. Hope someone can help. My mother sadly passed away recently in France. She was French and domiciled in France the last 20-odd years but previously lived several decades in the UK, where she was married and had children. This included about 25 years where her main residence was a house in which she had approx. a 60%…
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annexe council tax
We bought a hose 18 yrs ago and converted the double garage for family abroad to stay in when they visited. It is no longer needed for that purpose, but my elderly mum has been diagnosed with dementia and may need it in the near future. I have been charged the second home council tax for it which equates to over £3k a…
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HMRC self-assessment/child benefit website - help me, I'm a doofus!
*Warning* - plonker alert. Short version, I'm a public sector employee that pays Income Tax on PAYE. We receive child benefit, but I wish to pay back what is owed due to my salary this for 2023/24 and this year. That's a given, no sweat. HOWEVER, I asked a colleague how I go about doing this and I was advised to do a…
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Tax Code changes and HMRC no knowledge of SA returns
My mum has had about 5 tax code notices in the last 5 months. The latest one is for the tax year 25/26.On discussing with HMRC they explained about the untaxed interest.The problem I have is that mum has been submitting self-assessment returns for over 20 years. Admittedly in the submission for 23/24, we undercounted the…
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Help understanding tax code calculation
I've just received notification of my tax code for 2025/26 but something I don't understand is this: "Note 4 Tax you owe (earlier year) We previously told you that you owe £360 tax from an earlier
tax year. We have therefore included an adjustment to reduce your
tax-free allowance by £1333 so we can collect the £360 tax…
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Allowance towards travel expenses - taxable?
Hi. My wife is not employed but has been asked to travel to Dubai next month to participate in a conference as a speaker/moderator due to her expertise in a certain area. The firm organising the event have said they will pay for her flight and give her £1,000 towards accommodation/subsistence while she is there (around 3-4…
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Self assessment fine HICBC
Hi, For the first time ever, since 2022-23(PAYE all my life), I have had to submit self assessments due to the HICBC. I have just received a letter from HMRC regarding 2022-23(which I thought I'd submitted) being late and I will be fined. Regarding the 2022-23 self assessment, I think when filled in the online form I've…
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Self Assessment refund not yet received
Just before Christmas I completed my return for the last tax year and it calculated a modest refund of around £250. My recollection of previously completing my returns is that bank account details were requested as part of the return but this time around it invited you to apply after submitting which I duly did. With…
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Late mother over paid tax
Hi, HMRC has recently written to me to tell me my mother had over paid tax on her pension. The amount was around £500. When I've checked, she only had her state pension (£13025.61) and works pension (£1620). Tax should have been on earnings after the PA of around £450. I'm confused why the works pension was deducting over…
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Company offering work through ‘non-VAT registered sister company’
Hello I’m getting some gardening work done and asked a local company I’ve used before for a quote. I was very happy with their previous work and they seem very professional. The quote was higher than I could afford so I declined. I then got this message…. am I being completely naive or this company basically saying I can…
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Overpayment of income tax
I got my 2023/2024 P800 online saying I had underpaid tax by £274.20. I paid this online but then realised that £209 of this had already been included in my PAYE tax code for 2024/2025. Will HMRC automatically adjust my 2024/2025 tax code to reduce my tax for my February and March tax deductions?
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Round up or down
Hopefully an easy one to answer - I recently submitted an estate return from which I calculated tax due at £13,266.60. I paid £13,266 thinking that I should round down. Looking at the account statement online, HMRC are saying tax due is £13,266.60. The tax is not actually due until the end of January next year. Question-…
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Trying to understand tax allowance
We are both retired and for tax year 24/25 my husband was paying the basic rate of 20% on his private pension - he also took 25k out of his pension around may 2024 and paid 20% tax - we have a financial advisor who inadvertently forgot to advise us that we would trigger 40% tax when we passed the threshold & we found out…
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A clearer explanation of joint ownership
Hope this is a clearer explanation I am 92 years old my wife is 87 years old My wife went into a care home self funding 14 months ago at the time she had eighty thousand pounds in savings, in a few months time I shall have to ask the local council to step in with some help. This will result in the council arranging a loan…
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Joint ownership of property
My wife and I are joint owners of our house worth about two hundred thousand pounds can I easily transfer my half ownership to make my wife the only owner and would there be any tax impications if I did so. Thanks
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Rift tax refunds
Hi chasing soon possible easy money i signed up with Rift with them saying they would take a percentage of the final amount. After a year ive been emailed several times now saying i have to pay £88 per tax year claim going back 4 years. Rift never mentioned this ever and after me asking them for a possible figure they…
