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Paye tax code has gone down last 2 years
Hi all, Posting on here for advice as frustrated trying to get to speak to tax office. The last 2 years my tax code has decreased, i guess to repay unpaid tax. I've been in same job over this period, no income from pensions, benefits or other jobs, less than £1k interest on savings so can't understand how i owe them money.…
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Marriage Allowance - Only in Civil Partnership since 2022
Hello Want to backdate the claim for Marriage Allowance. Have been non tax payer since 2020/21. We are in a Civil Partnership now, but only became 'Civily Partnered' in December 2022. How far back can I claim? Tax year: 20/21? 21/22? 22/23? 23/24?
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Understanding Child Benefit Charge
Hi, hoping someone can help me make sense of the Child Benefit Charge. I have 2 kids and have always received the child benefit which gets taken away again through a tax code adjustment for my husband's PAYE code as he earns about £60K. The code adjustment basically reduces his personal allowance. One is now an adult so I…
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HMRC refund and bank details
I claimed a tax refund last June, finally got the letter today agreeing I was owed money. Go to reclaim it online to be told that in doing so I would be supplying a third party with not just my basic bank details but also sharing my bank balance and direct debits. I have nothing to hide, but I refuse to supply those…
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Personal tax increase - confused?
Hi, I have had notification of a change of tax code from 98L to 50L (from April 2025) on my main private pension and been advised that I will pay about £103 more next year. (Two small ones have not changed BR). I am 68, retired and my personal circumstances are unchanged. Does anyone know why this has happened. Excuse my…
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Personal allowance with rental income
Hi based on my latest February payslip I have made the below assumptions. Employment income= £89K rental income from property= £32K Salary + Rental Income - Personal Allowance = £121,000 - £12,570 = £108,430 taxable income my question is can I use my full personal allowance of £12,570 as my salary is less than £100K.…
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Do charitable donations make any impact on £3000 limit on gifts free of inheritance tax
Hi, I have a question about the limits on what you're allowed to give away without possible inheritance tax liabilities. As I understand it: You're allowed to make gifts each tax year of up to £3000 and there won't be any issue with inheritance tax even if you die within 7 years of making the gift. You are also allowed to…
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CGT on buy to let
I bought a house around 2007, lived in it for about 2 years, then moved in with my gf (no wife) and rented out the original house. Now, my main residence with my wife is in both our names as is the original house that is let out. If sometime in the future, planning for retirement, I wanted to sell the original, rented…
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Stamp Duty additional property situation
Hi all. I have been speaking to my solicitor regarding stamp duty on housing and they have said because of my situation they advise i need to seek tax advice. I thought i would ask in here also to see if anyone can confirm my thoughts. Live with my partner at her house, i am not on the mortgage or deeds. I have my own…
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parental gifting allowance
Hi I am intending to gift my daughter £6000 this tax year, made up of last year and this year £3000 tax allowance. Is this exempt from the 7 year inheritance tax rule and can my wife do the same or is the allowance for a joint parental allowance? Also does it matter if the gifts are from a joint account. Thanks for…
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Change in tax code
I received a note from my pension provider via wage/pension slip advising me of a tax code change. I’ve looked at HMRC calculations. They’re stating that I have untaxed interest on savings and investments. My question is where can I check their dates and their figures. I have all the interest figures available via banking…
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CGT liability on company shares
Hi, I work for an insurer that is being taken over. The company who are purchasing us are offering £1.297 for each existing share and about a 1/4 of their shares for every one I currently own (also a 5p divi). I've been saving £150pm for 10 years and invested £18K to date + £9K of free matching shares. The current overall…
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Reporting Untaxed Interest Online
On 30 January 2025, via my PTA online, I reported my untaxed interest estimates for this year and next year. This year’s estimate would result in me paying less tax, and next year’s estimate would result in me paying more tax. HMRC were very quick to change my tax code for 25/26, but strangely this year’s code remains…
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HMRC Penalty Charge
Hi All, I am looking for some guidance if possible, I have today received a letter from HMRC advising I owe £1.2k related to a late self assessment penalty from 2012. This is the first time I have heard of this from HMRC and every year I complete my Self Assessment this is never referenced and my account shows as no…
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Expected that I’ve underpaid tax for 24/25
Hi all, it looks like I’ve underpaid my tax as a PAYE for 24/25. My income is likely to be 80k against tax of 15k (21%) by the end if this year. I’m not sure why but my employer changed my tax code and doing my calls looks like I need to pay more tax. I probably owe about 6k. Is there a way to offset that 6k by…
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Change in circumstances to affect Marriage Allowance
Hopefully I do a good job of explaining this. So a few years ago, my wife was under the threshold for us to apply for the marriage allowance tax, happy days, I got a M next to my tax code on my payslip etc... Last year, my wife took a new job and her salary is now above the threshold. It wasn't until the other night when…
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Income tax on Savings
I've had a bit of a shock from an HMRC tax change notification, classing me as marginally above the 40%tax threshold. The only thing I can think of is savings that are taxable but I am unsure that is the case. My earned income this year is just below the 40% tax threshold. So shouldn't the tax exempt savings allowance…
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Help with 25/26 tax code assessment
Hi I have just been notified that my 25-26 tax code is available and has changed drastically. See photo attached so for 25-26 tax year it says I owe £4271 from previous year but in current tax year is says I only owe £16 so my question is where has that figure come from? Any help is appreciated
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Marriage tax threshold
Hello. My wife applied for the marriage allowance about three years ago and was then a non tax payer, so I gained the extra allowance. However over the last three years owing to the freeze on the tax threshold she has now crept into the tax threshold and as such now has to pay a small amount of tax. Is it still OK for us…
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INHERITANCE TAX - SPOUSE DIED 1971
Any help appreciated - GOV website guidance a little confusing?! Father died 1971 - mother now died - never remarried, worked hard all her life and paid off her mortgage - her will passes her estate (basically her house, no other assets) to family and charities - but if I understand it correctly the exemptions before IHT…
