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Income Tax and Starting Rate of Savings Tax for low Earners
Hi, Can anyone confirm whether when calc tax for low earners with savings it goes something like this.. Add your annual income (in this case £13634 to annual savings interest} and then take away £12570 allowance plus 5k savings starter allowance plus 1k personal savings allowance) to get the tax amount payable?
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Does this need a self assessment tax submission?
OK - so I have submitted a self assessment for the last couple of years on the basis that I get about £170 a month pension from Canada. It's not taxed in Canada so needs to be taxed here. I have pension income here (and a tiddly amount of interest earned) so am above the personal exemption level. My OH has just started to…
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Working from home - tax relief when employed AND self employed?
Hi,I'm hoping some one can help advise what to do?I'm currently in paid employment for 4 days and have had to work from home since October during the pandemic. My fifth day is self employed and I've had little to no business. I'm looking at applying for the tax relief for working from home for just my employed job (as it…
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unused inheritance tax from 2001
My mother passed a few weeks back and after going through her accounts it looks like she may have to pay IHT. Can I use my dads unused inheritance tax from 2001 and is there a link to that information on HMRC? I'm struggling to find it.
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SIPP - using previous year's allowance
I'm in a fortunate(?) situation in that I was made redundant last year. I was given a huge chunk of redundancy pay which I put into my company pension. I've since been heavily overpaying into a new SIPP (directly from my company) which will take me over the £60k limit this year. I know it's probably not that unusual, but…
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Tax on savings interest
My tax code has been changed as HMRC assume that I will exceed the personal allowance for taxable interest on savings. I think the assumption has been made based on money that was in a fixed term account which matured at the end of November 2025, plus a few smaller savings accounts.The matured savings have since been…
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Register as an employer to save money
With tax going digital, I’ve been looking into different systems that I can use to make life easier and that offer me the best options. Whilst doing research, I have come to the following conclusion; * hubby could register as an employer, and could pay me £1000 per month. * He could claim Employer Allowance so that he…
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HMRC increasing tax due to spurious payment from ex-employer
This is a bit of a weird one as my son has rung me and he isn't always very good at explaining things. But he has had a letter from HMRC saying he owes them £1k plus in tax due to having been paid £15k in the last tax year by an employer which he left in 2021 or 2022. He left because the employer went out of business. He…
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musing on putting a holiday home in the name of adult kids
Just musing at this point. We have a holiday home abroad that we are considering selling. I know CGT will be payable, here and abroad. If we do sell, we would then buy a holiday home in the UK to make travelling easier than having to fly abroad. We are early 60s with 2 adult children in their 30s who are already home…
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Overpaid into SIPP: how to set it right?
OH has overpaid into her SIPP, adding £5k net instead of £4k net based on £6k earnings and £1k trading allowance. Not claiming trading allowance on her self-assessment would leave £250 overpaid (£6250 gross from the £5k net) - almost but not quite enough. How should she set this right?
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Scottish Budget 2026: Income Tax and Council Tax changes confirmed – here's what they mean for you
Scottish Finance Secretary Shona Robison has announced a rise in some Income Tax thresholds, new Council Tax bands for high-value properties, and an increase to the Scottish Child Payment, plus more as part of the Scottish Budget for 2026-27. We've rounded up the key changes and what they mean for you... Read the full…
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Council Tax, LA not responding
Reading Martin's info, I qualify for a Council Tax reduction but the Local Authority has not replied to emails and letters so I continue to be charged the full amount. What can I do?
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Payments on account for savings interest?
Assuming your only income were to be savings interest, or you were to earn more in savings interest than from PAYE/pension, would you liable to pay payments on account to HMRC? It's unclear from what I can see online, as everything talks about tax, but also class 4 NICs, indicating that it's applicable from some form of…
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HMRC reminders
Here is an image of the HMRC email. I submitted my tax return on 06 April 2025. I still get unrelenting email reminders with a threat of penalty in every email. The teabag thing is a further insult.
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Possible major change to how we pay our income tax from tax year 2029
An item not generally reported In the latest budget was a proposal which will affect PAYE and self assessment tax payers. They are proposing that self assessment
taxpayers with PAYE income will pay their self assessment liabilities
in-year via PAYE from April 2029.They want to make a mandatory adjustment to your tax code…
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Unmarried couple with two properties - CGT & Council Tax queries
Bit of a long thread, but I want to ensure I remain compliant with tax laws but do not over-pay unnecessarily: * My partner and I - we are not married and will not be getting married - have sold our two flats that we owned before we met. * He will stay with his Mum until we purchase a house together, hopefully later this…
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Getting under Scotland advanced income tax via pension contributions
Hi there , does anyone have a calculation based on the revised advanced Scotland income tax level of 48%, what is the maximum monthly salary you need to aim for to get under that level via salary sacrifice pension? My salary is rising this year and want to be sure I continue to contribute enough to get the remainder taxed…
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Struggling to pay back a LTD company tax bill
Hi, I've been struggling to pay back huge debts over the years but it's got to the point I can no longer pay them as they currently stand. I'll try to cut a long story short. Started an online business as a sole trader. After x amount of years, turned that business into a limited company. Received bad advice from an…
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External examiner fees (research degree) in tax return
I hope this is an appropriate place to post this. I am academic staff in a UK university (University A) and last year I was invited to be external examiner in a PhD viva examination for another UK university (University B ). Not sure if relevant, but I used to work for University B many years ago, and currently I work for…
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IHT on pension pots under existing rules
Over the years I have built up DC pension pots in various personal, executive and SIPP pensions. Under the existing (pre. April 2027) IHT rules are all undrawn pensions pots excluded from IHT or do they need to have been put in a trust with the pension provider?
