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Tax Codes & Starting Rate For Savings
I have just got off the phone with HMRC, and the operative seemed to suggest that my wife will not benefit from the “starting rate for savings” due to me using the marriage allowance. Is this correct? Her tax code was 1131N (2025/2026 tax year) but has been reduced to 940N for the 2026/2027 tax year. She paid no tax on her…
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LTIP - Tax reclaim? (Scotland)
My wife was awarded a chairmans award by per employer (Long Term Incentive Plan). She has since retired during the last tax year. We waited until the current tax year before exercising and holding her shares. At time of exercise we paid the administrator the estimated tax. During this current tax year she will minimise her…
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Tax calculation
Can someone help me understand why dividends seem to be taxed at 20% rather than 8.75/33.75%? HMRC: Pay from all employments £49,318.00 Dividends from foreign companies £548.00 Interest from UK banks, building societies and securities etc £415.00 Dividends from UK companies £428.00 Total income received £50,709.00 minus…
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HMRC Self Assessment service showing “unavailable” message
Is anyone else having issues accessing Self Assessment on the HMRC website? It has not been working for me for at least the past two days. Yesterday and today I have been seeing the following message: “Sorry, the service is unavailable. You will be able to use the service later.” The HMRC status page indicates that all…
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Capital Gains on Inherited Property
Hi all I'm a bit confused as to whether or not we need to pay capital gains tax. Mum died end of February this year and the sale of the house is currently taking place. The house was in trust for myself and my sister. As the property had been held in a family trust, probate wasn't necessary. Mum had lived in the house…
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IHT Allowance - IHT402 and IHT400
My mother died in 2013 and left everything to my dad. My father has recently died and has left £10k each to his two grandchildren and the balance of his estate (approx. £560k) to his two daughters (I am one of them). We are trying to apply for my mum's nil rate band to be transferred to my dad's estate (100% as my mum…
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Duplicate Government Gateway account and self assessment - Help
Hi, I have just opened a Government Gateway account and registered for self assessment. When I got to the end of the process and was told that I already had a Government Gateway account and was to use the original one. I completed the forms for Self Assessment on the duplicate account and was expecting the 2 accounts to be…
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Overpaid income tax 2025/2026
Looking for some advice regarding overpayment of income tax for 25/26 tax period,The overpayment is a result of an unusual set of personal circumstances of approx £4500. I know that HMRC say that any under or over payment will be resolved between June and October 2026 for the previous tax year. In peoples experience is…
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Tax Self Assessment and marriage allowance
I am filling in my self assessment for 2024/25 I had the marriage allowance in place to transfer 1260 of my personal allowance to my husband for tax year 2024/25 I cancelled it for tax year 2025/26 onwards On self assessment it says if you already have a transfer in place (as I did) you should select "NO" to the question…
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How to calculate Rate Band Adjustment?
I have 3 sources of income - 2 pensions plus a state pension. Cumulatively they take me into the Scottish Higher rate band but neither one of the private pensions on their own do. So my tax code includes a deduction for the state pension plus a rate band adjustment. My other pension has a tax code of SD0 which is all at…
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Calculating Income Tax
Hi all, this my first post and I hope I’m in the right
place. It regards the HMRC income tax calculations. My latest tax estimate from
HMRC has just nudged me into the higher tax band but I’m struggling to
understand how it works. My income, less interest from savings, is below the
threshold of £50270 (above this is…
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CGT on additional property and main home.
Capital Gains Tax conundrum? In 1986, I bought a house which was my main home. In 2010, I bought another house which subsequently became my main home. HMRC were notified of the switch. My children lived in the 1986 home. I am now considering selling both. My question is; How would HMRC calculate GAIN on 1986 home? Would it…
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Consolidated tax statement does not show accrued gilt interest
My Interactive Investor consolidated tax statement shows gilt interest paid as coupons (inc. on maturity) but does not show accrued interest paid/received when buying/selling units. That makes it a pretty incomplete guide when completing self-assessment. You'd think their computers could give the full picture, wouldn't…
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retirement gifting from excess income
My husband took early retirement in 2015 and I left my part-time job later that year with no pension payments. My husband became a higher rate tax payer in 2024.We have 2 joint bank current accounts. Both were previously our individual bank accounts on marriage. Throughout our marriage his salary and pension has been paid…
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Marriage split - not divorcing - Tax queries
Married over 20 years. We've worked hard all our life and built up various investments. The money side and shares is easy to sort, but we had a main home, a holiday home and four BTL's, of the rentals two are owned jointly and one each in our personal names. 18 months ago we decided to separate. No other party was…
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Making tax digital - tax return not received?
I am a landlord and I decided to voluntarily sign up to the MTD tax returns. The software provider I use is Clearbooks. Throughout 25-26 I kept all records and did my quarterly submissions and then submitted my final declaration (which also included my salary) using clearbooks at the end of the tax year earlier on this…
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HMRC MTD
A couple of questions regarding MTD Is HMRC informing tax payers if they have to submit quarterly returns or not? 2) My combined income from state and work pensions PLUS Gross rental income takes me into the 40% tax band. Expected gross rental income 26/27 is ca. £45,000 My understanding is that I do not have to do MTD…
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Reduction in personal allowance.
I've just checked my tax code for 2026/27 and I have had my personal allowance reduced by £101. Reason given, untaxed savings interest. I'm a basic rate taxpayer, so could someone kindly calculate how much interest I would have to earn to give rise to this figure. I don't complete a tax return so I assume they have worked…
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IHT - Residence Nil Rate Band (RNRB) not applied
I think I know the answer to this, but I'm just checking my solicitor is on the ball. Both of my parents died within a month of each other, mother first then dad. Both had simple symmetrical wills: estate left to spouse then to 3 children. The solicitor has applied the £325k Nil rate band to mothers's estate and the unused…
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Which form for reclaiming income tax paid on pension withdrawal ?
Hi all, ill start off by saying i think its Form P53 we need to use, but appreciate feedback. In last tax year 25-26, my wife received a pension payment as lump sum from Prudential as a "small lump sum option " it was from a " With Profits Fund " Final value was 9127, and received 7758, so 1369 taxed. She dosnt work and…
