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Tax Code changes and HMRC no knowledge of SA returns
My mum has had about 5 tax code notices in the last 5 months. The latest one is for the tax year 25/26.On discussing with HMRC they explained about the untaxed interest.The problem I have is that mum has been submitting self-assessment returns for over 20 years. Admittedly in the submission for 23/24, we undercounted the…
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Help understanding tax code calculation
I've just received notification of my tax code for 2025/26 but something I don't understand is this: "Note 4 Tax you owe (earlier year) We previously told you that you owe £360 tax from an earlier
tax year. We have therefore included an adjustment to reduce your
tax-free allowance by £1333 so we can collect the £360 tax…
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Allowance towards travel expenses - taxable?
Hi. My wife is not employed but has been asked to travel to Dubai next month to participate in a conference as a speaker/moderator due to her expertise in a certain area. The firm organising the event have said they will pay for her flight and give her £1,000 towards accommodation/subsistence while she is there (around 3-4…
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Self assessment fine HICBC
Hi, For the first time ever, since 2022-23(PAYE all my life), I have had to submit self assessments due to the HICBC. I have just received a letter from HMRC regarding 2022-23(which I thought I'd submitted) being late and I will be fined. Regarding the 2022-23 self assessment, I think when filled in the online form I've…
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Late mother over paid tax
Hi, HMRC has recently written to me to tell me my mother had over paid tax on her pension. The amount was around £500. When I've checked, she only had her state pension (£13025.61) and works pension (£1620). Tax should have been on earnings after the PA of around £450. I'm confused why the works pension was deducting over…
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Company offering work through ‘non-VAT registered sister company’
Hello I’m getting some gardening work done and asked a local company I’ve used before for a quote. I was very happy with their previous work and they seem very professional. The quote was higher than I could afford so I declined. I then got this message…. am I being completely naive or this company basically saying I can…
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Overpayment of income tax
I got my 2023/2024 P800 online saying I had underpaid tax by £274.20. I paid this online but then realised that £209 of this had already been included in my PAYE tax code for 2024/2025. Will HMRC automatically adjust my 2024/2025 tax code to reduce my tax for my February and March tax deductions?
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Trying to understand tax allowance
We are both retired and for tax year 24/25 my husband was paying the basic rate of 20% on his private pension - he also took 25k out of his pension around may 2024 and paid 20% tax - we have a financial advisor who inadvertently forgot to advise us that we would trigger 40% tax when we passed the threshold & we found out…
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A clearer explanation of joint ownership
Hope this is a clearer explanation I am 92 years old my wife is 87 years old My wife went into a care home self funding 14 months ago at the time she had eighty thousand pounds in savings, in a few months time I shall have to ask the local council to step in with some help. This will result in the council arranging a loan…
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Joint ownership of property
My wife and I are joint owners of our house worth about two hundred thousand pounds can I easily transfer my half ownership to make my wife the only owner and would there be any tax impications if I did so. Thanks
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Rift tax refunds
Hi chasing soon possible easy money i signed up with Rift with them saying they would take a percentage of the final amount. After a year ive been emailed several times now saying i have to pay £88 per tax year claim going back 4 years. Rift never mentioned this ever and after me asking them for a possible figure they…
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Is this Tax demand Correct
Hi, Sorry not even sure if this is the correct board to post this or not. To cut a long story short I will send attachments but basically my understanding is that if your income is below £17,570 then you are allowed to have an Allowance of £5000 interest on savings before you have to pay tax on it? My husband's 23/24…
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How will my bonuses be taxed?
I'm in need of some advice so I can plan my finances next year. I have a job with a yearly income of around £51,500 (£4350 before tax/NI/deductions, £3250 after) I make salary sacrifice contributions of 6%. I'm now due to receive three bonuses a year, which will push me into the higher tax bracket and make planning more…
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Inheritance tax question
Hi all, newbie here. I am wanting to know if anyone can confirm that the 325000 IHT free allowance also applies if inheritance is gifted early? I know there are rules about 3000 per year allowed to be gifted and also the sliding scale of 1- 7 years with extra gifts above that. But if the estate is worth £325000, and…
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Self Assessment and Prolific Earnings
I've realised that I have gone over £1000 this tax year in Prolific so am wise to declare them. I am already setup for self assessment as I rent out a flat. Where do I enter my prolific earnings, so I say I am self employed so I can use the £1000 Trading Allowance or is there a difference section to enter my earnings in.…
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Tax Bill From 2016/17
I have recently received a self assessment tax bill from HMRC for £79 from a self-assessment I did in 2016/17. It appears to have been flagged in 2018 and they've added £30 interest since then. This is the first I've heard I owe them money. In 2016/17 I was signed off longterm sick so I made no money as a self-employed…
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SIPP small pot under £10000
Evening all Does the 25% tax free element of a SIPP when taken as a small pot under £10000 count towards income for HMRC purposes Many thanks
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Salary sacrifice and staying above National Minimum Wage
Ive just spent the last 2 hours catching up with posts on this forum regarding cutting tax which has confused me. In peoples attempts to reduce their taxable income to lower their tax position, people look to "salary sacrifice" as a method of achieving this. Which makes sense! However, I've read comments that suggest…
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How to reduce 'Non coded income'
When due to one-off circumstances a large amount of 'Non coded income' gets assigned in the next tax-year to a person (i.e. showing when they look on the PAYE Income Tax Summary of the HMRC Tax Portal), then what is the best way to go about reducing or completely erasing that amount.Should they a) contact the HMRC via…
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2023-24 savings tax bill slightly more than own estimate
2023-24 outstanding tax owed is on savings interest from that year. The taxable employment income and tax already paid on that employment income, were from the P60. However the savings interest tax is exactly £2 more than my estimate which is to the exact penny. I did a 20% tax deduction from the gross savings interest…
