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Cutting tax

No-one likes to pay more tax than necessary; get help from other MoneySavers to cut your tax bill.

Estimated Salary on HMRC wrong
Hello, the salary on my HMRC account is about £2000 higher than my actual salary, still within the 20% basic rate tax , I only did overtime twice in June not worth near £2000 do I need to worry about it or just leave it?
Tax & Salary Sacrifice -Tax Code - 2 Incomes
Hi Everyone, Looking for advice on what tax I should actually be paying . Employment 85k - Pension 20k(DB previous employer) - everything taxed at 42% Salary Sacrifice car 10.5k My Pension Contributions via Salary Sacrifice 25% - 21k Total Income 105k Actual top line 73.5k My tax code changed from the standard code as soon…
Gifting to reduce IHT - what evidence/audit is required?
Hi, The changes in the budget, in particular moving pension pot into IHT, mean I need to rethink my plans. One thing I will look at is gifting to my son. If I gift him money - there will be a record from the banks, which I assume is enough evidence of the gift and when it happened. I have crypto and could gift that to him…
CGT query
Can someone confirm if I'm on the right track here with my calculations and understanding. I've made some of the figures and dates up because I don't have the exact records to hand but the principle should be the same. My old family home is currently owned 50% by my Dad and 50% by a Trust created after my Mum passed, of…
Capital Gains on sale of property
I owned a house outright and my partner (we are not yet married nor in civil partnership) owns her house (purchased in 2005 for 150K) with small mortgage remaining. At the start of 2023 I sold my house and moved into my partners house. Later in 2023, I (solely) bought a new house, and we both moved into that. My partner…
10 year anniversary IHT charges on Trusts Help Please
Any help with this would be appreciated. When my mother died My mother left her Flat that she owned, in trust to my sister and I, who are both trustees and inherit it when my brother dies.. My brother is not a beneficiary, but has the right to live in the property until he dies. Should we both die before he dies then both…
Loss from one self-employment not being factored into tax return
I just completed my 2023-2024, checked the current position and the Jan 2025 payment looks too high. My primary self employment made ~£30K profit and my second (new) self employment made ~£5K loss. But the loss does not seem to have been factored into the calculation. Do I need to specifically enter the loss in the Losses…
Inheritance Tax If you Emigrate
Always wondered what would happen to IHT if I emigrated from the UK . Being single, owning a small 1 bedroom flat that is worth (horrendously in my opinion) about 325k and having savings and pension that will probably be hit with 40% tax there aren't too many options open to me to reduce my IHT liabilities . My easier…
£100k+ Taxable Pay, Tax Free Allowance & Car Allowance
Hi all, I'd like to understand how a car allowance affects the tax free allowance of someone who earns more than £100k. A person's tax free allowance goes down by £1 for every £2 above £100,000. As a simple example, if someone has a salary of £105k plus £10k car allowance, is the reduction in tax free allowance calculated…
Any accountants on here?
In short my accountants are going to close so Im looking for new ones. They havent been good at communication and even worse now. Trying to work out how to go forward but cant get an answer from anywhere so trying this hive mind. I have experienced a lot of turmoil in my business the last 18 months from losing my best…
Higher Rate Tax Payer Pension Contributions Query
Hi all, I have just recently received a pay-rise which has made me a higher-rate tax (HRT) payer for the first time, and I am trying to work out what my additional pension contributions I need to make to avoid paying HRT on my new earnings. My employer adds 10% to my pension, and I add 5%. I now earn £51,490 gross with an…
How do I know if/when I am in the 40% tax bracket?
Sorry if it's a really daft question, it's the first time I've ever been close to the higher rate tax bracket. I have a NONCUM tax code and employed by the NHS. Due to pay rise and back pay in October I believe I will have paid some tax at 40% in my most recent payslip. Next tax year I am certain that I will pay some tax…
Best Way to Avoid Inheritance Tax
Hi There, Currently my Nan has left both myself and my sister her property in her will, the property will be worth just over £325,000 when it comes to sell and is fully owned out right. Any advice on what may be best to do here to avoid the extortionate inheritance tax would be much appreciated. Would it be best to…
IHT gifting rules
I have started a spreadsheet to prove that my regular gifts to grandchildren come from surplus income rather than savings. I think this still leaves me able to gift £3000 a year from savings. But next year I think I will have a very substantial bill for building work. No matter how much belt tightening I do most of this…
IHT Gift who pays
My wife and I's estate would be eligible for IHT. I recently gave £10,000 to my daughter to help with a flat purchase. If I were to die within 7 years would she have to pay the IHT or would the gift be rolled over into my wife's estate and none due. I have already separately used my annual £3,000 gift allowance.
Mileage claims with NHS
Partner works for the NHS and drives in the community, quite a lot of miles. They're paid mileage uk to 3500 miles a year at 59p a mile for petrol, EV 4p a mile once you hit the 3500 miles you get 24p a mile for petrol, not sure about EV she does about 6,000-8,000 miles a year. someone put in her work group chat that you…
What are people buying ahead of the budget?
Ahead of the budget on Wednesday I wonder what items people are buying / stocking up "just in case" the budget has an effect on their cost. Fuel, alcohol and cigarettes are the obvious ones but is there anything else?
CGT on crypto, separate pools or one pool ?
I have some crypto coins at exchange A which are back to even (Yay!). And some more of the same coin bought more recently at exchange B which are now in profit (>£3k) I want to move away from exchange A because it's a bit expensive to buy/sell (it's SKRILL and they sell the crypto for Euros and then charge a FX fee to…
Tax and working abroad
I might accept a job (full time indefinite employment contract) in Germany, whilst continuing to live in the UK. Would work remotely where possible but have some semi regular travel to the office there. Unsure about whether I would have to pay tax etc in Germany or the UK, hopefully not both. Can anyone recommend a good…
P45 issues
I'm trying to file my self assessment form. My main employer gave me a P45 when I left but the leaving date given on it falls in a different tax year to the final payments (which were provided after I left in the new tax year). Two contacts at HMRC (one a specialist apparently) plus my accountant has said this is wrong…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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Cutting tax

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