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National insurance refund
Hi,the last tax year I worked part time and earned just around 10k for the whole year. Some months I earned as little as 300 pounds and some others I earned 1300 pounds. At the end of the year I only reached 10k. The 3 months I earned around 1300 I got a deduction for National insurance. At the end I got my p60 saying my…
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Income & Capital Gains tax
Hi, I'm a a long-time watcher, but a newbie to posting as I can usually find answers via Google. I manage my OH's tax matters, and have been struggling to find an answer to how capital gains effects income tax rates. However I've just read some illuminating historic post on similar topics. My understanding now is that they…
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taxed on work expenses (employee)
hello everyone some advice pls for work I have to travel and use my own car, so claim mileage and parking expenses. previously these were paid separate to my wages. I've never gone over 10000miles per year, so claim at 45p per mile My current employers (started last month) pay my expenses for mileage and parking as part of…
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Capital gains tax when property inherited in two parts
I am trying to clarify how to submit this. My Dad died 7 months before my Mum. They were tenants in common so when he died my sister and I inherited 1/4 of the house each while Mum retained the other half. When she died we inherited the other half between us (so another quarter each). There hadn’t really been any change in…
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Does BIK increase after the first year?
My son has a company car, as he is a service engineer. He has just noticed that his tax code has dropped for the next tax year due to the increase in his BIK. Should the BIK remain the same on a company car once it has been assigned.
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Allowable capital losses
I am just finishing my self assessment. In the capital gains section there is a capital losses question. I understand losses can be used from the previous 4 tax years. I have a £139 loss from selling some cryptocurrency in August 2022 and a cryptocurrency that Coinbase suspended trading on in May 2022. It cannot be sold or…
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40 percent tax/pension/rebate question
Good afternoon all, Having just received my wage slip for the month, it's looking more likely I'll get dragged into the 40 percent tax bracket. My tax code is 1265L My total earnings for this tax year so far are £13,000 - so pro-rata £52K. My post tax pension contribution is £167.10/month but £208 appears on my pension…
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Fuel card from work for a private car - P11D
morning all i was provided a fuel card in 2024 and was allowed to use it for fuel for both business and personal mileage. the company pulled the plug on the cards in March 2025. for the calculation of tax, is it 40% I have to pay on the amount showing on the P11D, or do i have have to pay the amount on the P11D? Around…
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Reduce your hours but not your salary - ish
Hey all... I'm sure this isn't news to any or many people but I've just had my first payslip after reducing my hours and am quids in - kind of. My full time salary is ~£54k so into the 40% threshold. I wanted to reduce my hours as I didn't want my interest earnings to be taxed that heavily. So I reduced my hours to fit…
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Tax treatment of non-UK interest routed through a UK entity
Can anyone
tell me whether interest from Israel Bonds (loans to the Israel govt) count as
UK or foreign interest? The investment is routed through an FCA-registered UK
entity, but the income is from the State of Israel. I asked the UK entity and they
(unhelpfully) said to check with a tax advisor… I don’t have one of them!…
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Tax with settlement payment
Earnings since April 25 to July were £30k i was just dismissed and offered £125k settlement. Does that mean I’ll lose tax free and childcare hours?
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IHT403
do i add tax that was due for each year or tax that was payed out of bank as different years as tax is not paid to the following January hope this makes sense
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Is Rental Income regarded as Earned Income?
Hi I rent out one property (my house, while I live elsewhere). For Personal Savings Allowance and other tax-related purposes, will my rental income be regarded as "Earned Income" by HMRC? Thanks in advance
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Tax on interest earned - spouses treated separately?
We are in the process of selling our house and plan, at least in the short term until we know exactly what future plans are, to put the proceeds into a high interest savings account. The question I have is that if we put it into an account solely in my wife's name will the interest earned only count towards her annual tax…
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Gifts from income iht
Hi all. I've ploughed through all the threads associated with this topic and it all seems very complicated. Just one question not totally answered unless I missed it. If I transfer all interest received from my ISA accounts (no tax to pay) to a separate account labelled surplus income and then distribute it at the end of…
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Excel Formula for UK tax system ??
Anyone have a formula please that can work out the tax due on a given amount, taking account of all the UK thresholds? For example, say there's a sum of 150k. We all know with personal allowance, upper threshold, high threshold it can get quite complex. Anyone develop a formula to work out the tax due for a given value?…
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Over £100,000 salary, reducing tax
Hi, My wife earns around £70k basic salary a year but her bonuses through the year 24/25 took her to £110k so I assume we can expect a tax bill? She has a pension that is salary sacrifice does that reduce what we pay? Is there a way I can work out our liability? Other question is, we don’t know how much bonus she will get…
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Santander dividends and Self assessment
Can anyone help with advice about where (and how) on my self assessment form I enter the dividends I receive from Santander? I got £62.94 dividend and paid £14.76 tax. It used to be called 'withholding tax' but doesn't seem to be now. Other dividends push me over the £500 limit so I pay diidnd tax at the basic rate 8.75%.…
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Self Assessment questions for my wife
My wifes only income is state pension and interest on savings. All savings are in my wifes name as I pay 40% tax. Savings interest is way over 10K and we registered my wife for self assessment. I have a question. Whilst we are happy with the tax to be paid by 31 jan 26 for 24/25, the form also calculates 50% of assumed tax…
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Inheritance tax and Gifting from excess income
With regards to inheritance tax and gifting out of income - Can I increase my opportunity to gift more out of income by taking the following approach. If my annual income is £40k and my normal expenditure is £30k then I would be normally able to gift £10k out of excess income. Now say I give separately a potential exempt…
