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HMRC tax code letter for 2025/26
There is an adjustment to my tax free amount with "Less Adjustment to Rate Bands" £19,777 DWP (ESA) £7,207This totals your tax free amount £-7,207 I dont understand this? The only think i can think of: from Jan to Mar 2024 i was on job seekers allowance payment. Then i started a contracting job (day rate) from start of…
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Tax calculation letter
Two self employed people in the household and we always receive a tax calculation in the post each in February after paying on 31st Jan. Not received anything this year. Is this a new policy, or are they just slow?
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ISA taking me above £50270 tax threshold?
I'm aware that I don't have to declare my ISA interest on my tax form as it's free of tax - however when I add up all my income from pensions, dividends and savings (both ISA and regular taxable) it takes me above that tax threshold; yet if I ignored my ISA interest I'd be below that threshold. So should I put that ISA…
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Capital Gains Tax on selling shares and personal allowance
Hi - my wife is retired with no income from pensions etc and only earns a small amount of interest from savings. She has some Santander shares and is thinking of selling them through Santander's online 'Shareview Dealing'. They have a current value of approx £1400. I've looked at the HMRC website regarding tax on the…
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ISA subscriptions
Do banks and building societies inform HMRC of customers’ ISA subscriptions? If not, how is the £20,000 annual limit policed? The reason I ask is that I have several flexible cash ISAs, including a Flexible Zopa Smart ISA. I have been using the Zopa ISA regularly and it has multiple deposits and withdrawals over 2 tax…
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Self employed - how is foreign rental income treated by HMRC?
Hello there, I am part owner of a property in the EU, and I am thinking about renting it. Currently I am self employed in UK. If I do proceed, how I would declare that income? will it be considered as part of my self employed income, or will it be treated differently? if different, what is the usual UK tax on it? as it…
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Gift Aid contributions up, now paying more tax??
After filing my tax return in November, I was told that my tax code was changing to a code ending with LX, and the number roughly halved, because: * 'your Gift Aid Payments has been increased from £*,*** to £*,*** * we estimate you have underpaid £*** tax this year' Since then I have been paying more tax out of my salary.…
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Starter rate for savings - is it automatic?
Hi, is the starter rate for savings automatically applied or is it something I need to add myself please? I.e. if my income from employment is less than £12,570, will HMRC be automatically aware that I am eligible for the £1,000 PSA, £5,000 Starter Rate for Savings, plus any remainder from £12,570 less income from…
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Tax on savings interest
I live in Scotland, I earn £38080 per annum. I pay£1904.04 of this in to my work pension (salary sacrifice) I get a widows pension of £5775 which I pay tax on at source. I put all of this money after tax (£380 am month) into my SIPP. Next year I am due to receive around £11000 in savings interest. I am looking to find out…
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Non coded income
Hi, can anyone explain what non coded income is. When I look on the HMRC web site I see they have me down for earning £16,641.00 as non coded income. I don't understand where this figure comes from. All my earning are from my state and other pensions and these are all listed correctly. Is this why my personal allowance is…
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Marriage Allowance
Hi! This is the discussion thread for the Marriage Allowance guide. Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide. Thanks folks :) ,
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HMRC says I owe tax
Hi, got a letter from HMRC saying I paid too little tax in 23/24. Had the same job the whole time (as employee) and the payroll dept was doing the payslips (weekly) so no idea how I ended up not paying enough - unless someone messed up somewhere... Can anyone explain how it happened (assuming HMRC are correct) and how do I…
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UK State Pension & SIPP tax - Non UK Resident
I plan to retire to Paraguay where I will become tax resident. Foreign Income is zero tax in Paraguay. As I will be non tax resident in UK what if any tax will I pay on my fully paid up state pension and my fully crystallised SIPP which is in drawdown?
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New Limited Company - what benefits can I utilise?
Hi, I recently set up a family limited company to buy property and rent it out. As it's coming to the end of my first tax year and we have regular rental money coming in now, what can I utilise this year before I lose the benefit? So I'm charging the company interest on the Director's loan my husband and I put in. The…
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Voluntary Self Assessment - tax confusion!!
Hi all I wonder if someone can please enlighten me...... I am full time employed, for which I of course pay income tax via my standard tax code every month as normal. In Nov every year I get an unpaid tax bill for savings interest, which I then pay online. They did try to change my tax code to reflect this but I have had…
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PAYE and refunds
This is a question about the mechanics of reclaiming tax overpaid. I understand the easy answer is "HMRC will eventually sort this" but I'm currently owed over £3k and rising. 2023/24 - Earnings took me into the (English) higher rate tax band. My SIPP contributions were sufficient to increase the basic rate band and take…
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Inheritance tax on property from both my divorced parents
My parents have been divorced over 20 years. Both have remarried. Both have their own properties which they will be leaving to me their son in their will. Both are still alive but probably in their last 10 years of life. One property from my mother which she currently lives in is worth 350,000 gbp . My father has a…
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Employment Allowance for (very) small company
I have my own company, I am the only director and only employee. I earn an amount below the secondary threshold for employers and so the company pays no NI or income tax on my earnings. If I make the company secretary a director, the company will then have 2 directors and would be eligible to claim employment allowance to…
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Marriage Allowance - Scotland
I have just seen that my Marriage Allowance has dropped to £600 for tax year 25-25. My circumstances have not changed from previous years when I received £1200 from my spouse who was and still is not working.
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Reclaiming overpaid PAYE tax, unable to contact human at HMRC
OH completed his tax return for 23/24 which showed an overpayment of about £400. He has tried reclaiming this via the website and the app, putting in his bank details, and then nothing happens. Zilch, no money from HMRC. Financial advisor has suggested calling them. Last time, several years ago when employed by a different…
