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Marriage Allowance Tax
I have been receiving the marriage allowance from my wife for a 3 years. She has just got a letter from the taxman claiming that she owes £60.80 for the year 24/25. Her pension income was £11614.20, she has no other earnings. So she gives me £1260 of her allowance which I pay 20% tax on (£252 = £50.40) So what is the point…
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Timing of Annual Tax Summary
Does anyone know when this drops onto the gov tax platform for 2024/25? Specifically the summary with breakdown as it is not on there yet. You can view the top line tax paid but thought after 5 months it may have dropped on. Not a first world problem but just wondered....
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Capital gains tax after seperation
I have been seperated since 2016, and am not divorced although I have a decree nisi . We bought this house in 2006 and both lived in it until 2016. It is still my primary residence. My ex is living in rented accommodation with his new partner and that is in her name. He has not bought another house. If he either gives his…
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Self-assessment - rental expenses
I have just submitted my self-assessment. We rent out my old home and always have repairs to offset against tax liability. This year was just the normal, nothing big but I entered a larger figure as a mistake. It was red flagged as being too much for the rental. So I entered the correct figure. Question: if we really did…
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Self Assessment - Rounding
I understand income should be rounded down, and expenses/tax paid/reliefs should be rounded up to the whole pound. When completing my Self Assessment online most fields automatically round when I enter my figures, however the employment tax paid (SA102, box 2) does not round automatically. Is it expected not to round this…
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Tax calculator.
Is there a tax calculator that as a pensioner I can use to check that my tax bill is correct. Something that can deal with, Savings interest, State pension, Private pension, enter them and out comes my tax forecast. Thanks for any help.
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CGT on house after separation (moved out, back in, back out)
Please could I have your consideration. We purchased the house in 2010. we were not married or in a civil partnership but were in a relationship In Jan 2016 I moved out to rented flat . My partner remained in the house In May 2018 I moved into a hotel but spent some time BACK in my house but we were NOT living together as…
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Tax on a Second Property
Hi All, I have just purchased my new home; however, my existing home has not yet sold. I have had to pay £14k tax due to the new home being considered a second home, which will be refunded if I sell my old home within three years. However, I have had an offer to rent my old property for approximately six months. If I rent…
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K code for PAYE
Would someone be kind enough to explain how a K tax code works, please? Context - I receive SRP, and private pensions from three sources, taxed at BR. I also receive a tiny foreign pension untaxed, and have savings interest in excess of £1000, so I complete Self Assessment. I can't make sense of the resulting calculation…
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High Income Child Benefit Charge - Opted in mid year
Hi, can anyone help clarify this for me? We received notification from HMRC in Nov 24 of changes to HICBC thresholds. Because of the new thresholds (£80k top end), we opted back into CB from Aug 24 (backdated 3 months) after opting out in previous years. We were paid £1,100 in CB and husband earned approx £76k in 24/25.…
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Tax optimisation after property
Hello, I have been trying to sell my old home and I couldn't find a buyer for 2 years now. I have decided to give up and rent it. I didn't really want to do that as home is in my personal name and I wanted to sell it but it is what it is. Now, it is bringing me a tax complication and I never really checked how it all…
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Taxed on medical insurance
Started paying more tax because of my company's medical insurance and immediately told them to take me off it. I updated my information on the HMRC gateway to advise that I no longer receive the benefit but I keep getting taxed on it every month. Will this be sorted next tax year in April and will I get a refund?
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Getting reponse from HMRC
Apologies if this is not the correct forum. Does anyone have advice on how to get a response from HMRC, it invariably takes many months to get answers to the simplest queries despite numerous complaints. I previously ended up complaining to my MP, but now live overseas so no longer have one. Is there any other…
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MSE News: Had a summer job? Check you didn't pay too much tax
If you've just finished a summer or temp job, it's worth checking that you've paid the right amount of tax. If you were put on an emergency tax code, you may have ended up paying income tax you don't actually owe – but it's easy to check and reclaim any cash you're owed. Read the full story: 'Had a summer job? You may have…
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Simplest way to pay unemployed spouse for some admin work
Hi, I'm Self-employed and pay basic-rate income tax. I would like to pay my wife for a few hours a week admin, packing and posting items, home-office cleaning etc. She isn't employed. I also do my own accounts, and submit them to HMRC via my accounting software. It's all very simple and I want to keep it simple. I'm not…
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£53,345 salary but only paying 20% tax
I am demonstrating my total tax ignorance ,,,, I had always assumed I was paying 40% tax on my salary of £53,345 , but it looks like Im only paying 20%. (I only looked at my pay slip as I am expecting an annual pension of £25K (from a previous job) and expected to pay 40% tax on it.) I am assuming to because I pay 4% into…
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Uniform concession for Volunteers
This week's newsletter had a useful piece on claiming tax for laundering work uniforms. I work as a volunteer manager at a local Trussell Trust foodbank, usually doing about three shifts a month. I'm responsible for laundering my uniform (TT provide it free of charge) and it certainly is distinctive enough to have…
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Council Tax -timeframe for responses to a challenge
Hi all, After moving into a new house in Devon and receiving the first council tax bill, I immediately raised a formal council tax challenge as I noted that they had the wrong property details (they appear to have mixed up my property with my neighbour's property, which has some 30% more internal floorspace and more…
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Deed of Variation how do we save IHT and CGT?
I am co-executor to my mother's Will which is mainly a house and very little savings. The Will left the house and not much else to us four siblings, two of us are executors. Three of the four have done a Deed of Variation to pass the funds direct to our own children and one sibling did not. The house eventually sold after…
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Gifting from surplus income
I have used this scheme once before running over 29 months. The arrangements were clearly recorded, full income and expenditure records kept and, as far as I can tell, all HMRC conditions met. I intend to use cash withdrawal and income drawdown from a SIPP to make further gifts from surplus income again in the future. I…
