Cutting tax

This might be a 'take professional advice' issue, but in case it is straightforward I am posting it.Spouse and I plan to update our wills. Everything will go to the surviving spouse and then to our two children. Possibly importantly, given the French context, they are my wife's children from her earlier marriage so are my…

Is there any news (or existing threads) on whether heirs will pay income tax on SIPPs that have been subject to IHT after 2027? I recall hearing the government was considering steps to avoid double taxing.

Hi. I'm hoping someone knowledgable about the tax system and deciphering tax code notices can assist. We live in Scotland and my wife is retired and in receipt of a DB pension of £3,400 p.a. and drawdown from a SIPP of £8,400 p.a., i.e. £11,700 gross p.a.. She also has a savings account which last tax year earned £974…

Hi all, Hoping you can help. I'm currently freelancing in one industry but getting paid PAYE. I'm about to take on a second opportunity in a different industry but the company doesn't do PAYE payments and want me to be either a sole trader or operate as a limited company. Two questions: What are the tax implications if I'm…

In the financial year 2025-2026 my son was self employed for 5 months but did not earn enough to reach the national insurance threshold, he ceased self employment and then became employed for 7 months paying over £600 national insurance contributions on his salary, will he need to pay voluntary contributions on his self…

Sorry back again with another long self assessment question as I progress through the sections of self assessment. I have reached Overpaid tax section where: If you think you have paid too much tax you must tell HM Revenue and Customs (HMRC) where you want any repayment to be sent Do you complete section and your bank…

Hi, I have a rental property. I had builders do work on my personal property, but they also did work on the rental (fixing some render and a chimney leak). They invoiced me a generic £6k invoice for 'Property Maintenance' and addressed it to my rental property. Of course, Im not going to claim the whole amount as a…

Could someone please suggest a good book/s or a MOOC or Coursera (free online course) course on inheritance tax planning. Thanks.

I retired from work 2 years ago and am now 58yo. I started drawing on my pension last tax year and took my first withdrawal via UFPLS to maximise my tax free allowance and took approx £17K out of my SIPP (I have no DB pension). My only income is from savings/bonds interest, dividend income (approx £4k a year) and the SIPP…

Good afternoon. I have a main residence that I have lived in for 26 years. It has been my one and only home during this time. No lodgers, no renting etc. I wish to now purchase my parent’s home to have as my main residence and keep my original home. My original home will then be mostly vacant except for weekends. I will…

Since financial institutions such as Banks are now required to inform the HMRC of interest payments to individuals, is there any way the list could be copied to the holder? It would make it far easier to fill in the self assessment form in. I recall some income payments for pensions are automatically included, but not all.

Apologies for the long post but I have questions regarding the underpaid tax section please and advice would be appreciated please to ensure my understanding is correct For 2025/26 I received 3 tax code notices (P2). Jan 25 tax code notice for 2025/26 stated I owed £927 tax from earlier year 2 February 2025 tax code notice…

When entering figures into the online self assessment form do you put in the full amount as in pounds and pence or just whole pounds. If whole pounds do you just omit the pence or round to nearest whole pound. I can enter pounds and pence on the website but for a previous return I became very stressed and paid for it to be…

Is there a way to update personal details on the HMRC website? I have looked everywhere but there does not seem to be a way to do it. I use the government gateway and as I no longer have a landline I want to delete that telephone number.

I am trying to follow these steps to reclaim overpaid PAYE from the year I retired - was being taxed on assumed annual income but went down to a state pension part way through the tax year. Steps: (1) Visited this link:…

Obviously it depends on circumstances, but what about a situation where a family member has no assets and needs care, but the social services are reluctant to fund the care adequately ( not an uncommon situation I guess) . So if a close but better off family member helps out by paying a care agency directly for example,…

Hi, I have been living in a small rented room in UK for 13 months now. I told the council i was here by way of my request for a local car parking permit when i arrived. I have never payed council tax, but my room is "all bills included", and so i just assumed naturally that council tax was payed by the landlord. My rent is…

"I drove a company Tesla Model 3 Long Range for 90,000 business miles during 2022/23, 2023/24 and 2024/25. I paid for all electricity myself at public charging stations. My employer reimbursed me at 8p per mile. My actual average charging cost was approximately 32p per mile. Is there any tax deduction or relief available…

I was getting very stressed having been asked to self assessment having only 3 months to get it submitted. A friend recommended his tax account so I got her to do mine. Still waiting for the bill but it was short term peace of mind. Having got advice from all you good folks here and seeing what she produced I may try to do…

newbie here so please be kind I’ve earnt £17000 on crypto and I want to know how I tell HMRC about the tax I need to pay. Never done self assessment before