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Marrige allowance
My wife is recieving the state pension and is currently a non-tax payer and so I am claiming the allowance. With the rise in New State Pension in April will this affect her non tax payer status as our investments are in her name?
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CGT reporting query
Most of the shares I hold are in ISAs, but for the first time ever I've sold some at a profit that are held outside of an ISA. The gain is around £1,500, I'm not planning any more disposals in the current tax year so am I right that because the gain is under £3000 there's no tax to pay and there's no need to report it to…
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Query re tax implications of leaving a rental property in will.
Re my will I have said that two rental properties should be retained so my husband can benefit from the income until he dies and then be sold and the proceeds given to my grandchildren. He will also get 20% of my residual estate. I could increase that percentage and leave the properties directly to my grandchildren instead…
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Deliveroo Tipping - does the rider pay Income Tax/NICs on the tip?
I'm a new rider for Deliveroo and have been trying to work out if I should be keeping track of my tips separately from the delivery fees. As a Deliveroo rider, I am self-employed. The HMRC/Government website hasn't been much help as it's all aimed at employees in places like restaurants, and doesn't even mention if/how…
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claim back USA Tax
Does anyone know where I would start with a UK citizen claiming USA Tax back? my son plays esports/ gaming and has earned quite a lot of money over the last 2 years and we have been told he can claim this back, as they take 30% for USA Tax, and as UK is lower he should be able to claim some of this back minus the UK…
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Gifts to spouse
There's no IHT to pay on gifts between spouses. If I give my wife £6k does it immediately become hers to use as she sees fit? I'm thinking about giving her the money so she can then use it as her £3k x 2 years allowance to give to our daughter.
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Capital Gains Carry Forward Query
I’m completing my SA for 2024/25 year. This will be the first year where I have not purchased or sold any shares. I have £8000 of previous year losses I’ve been carrying forward and have been entering on previous tax year SA. However, when completing the Capital Gains section for 2024/25, it first asks for what assets I am…
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Bed and Breakfast with Shares and US Options Help
Hi All My wife is a UK resident (she doesn't really have any income but I actively trade US shares and options on IBKR on her behalf), we also have ISAs. We do have margin but for now I have kept liquidity very high i.e. i could easily survive a 50% drop in my NAV and not have a margin call. Most of the long term positions…
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IHT Planning
Something I’ve been considering for some time, not a knee jerk reaction. I’m 75 and with our existing financial set up, my Estate would be subject to IHT under current rules. Small SIPP would increase IHT from April 2027. Rather than possibly make things worse, I want to take professional advice. How do I find a suitably…
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Question on company Loan
Hi All, I have a questions please on a company loan. I have two limited companies, and started the second company last year. My old first limited company I will call "A1 Limited" and the second new company I will call "B2 Limited" to help describe my question please. Question "A1 limited" loaned " my new company "B2…
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P50 refund
I applied for a P50 refund on the HMRC government gateway at the end of May 2025 for tax year 25/26. This is because I lost my job in April 2025 and do not expect to return to work for the foreseeable. After chasing I got a letter from HMRC PAYE advising I would shortly be receiving a payable order for a few thousand. The…
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Christmas and birthday gifts and IHT
Hello all. I'd like some clarification over this statement from the government website, please - Birthday or Christmas gifts you give from your regular income are exempt from Inheritance Tax. What is the definition of 'regular income' and do I need to/how do I prove it's regular income? My thoughts are to start giving my…
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CGT on a bare trust
We set up bare trusts for our grandchildren back in 2013 and now wish to sell the shares in the one for our oldest grandson, he is 19, so that he receives the proceeds. The shares are all in a single children’s investment plan and bought over several years, how do we, or he, calculate and deal with any CGT due?
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Aim share loss and cap gains
Hello, Please can i ask if loss for a share traded on AIM market can be used against cap gains for the sale second property? If so, can the loss be carried over to the next next tax year? Thanks
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Spanish Tax - Failed to complete La Renta - consequences?
My friend worked in Spain from 2014 to 2016 returning to the UK in August 2016. She had reputable employment and paid tax and completed La Renta for 2014 and 2015 but had a 5 month old baby at the vital time in 2017 when she should have completed the Renta for 2016. She is now being pursued by HMRC on behalf of the Spanish…
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A simple guide for CGT liability on GIA please?
Hi all. I'm a slow learner, so please be kind as it appears CGT is simple to understand. I've searched around looking for a dummies guide, but can't find one. A few examples in my head and say 3K is the limit now. I put 100K in a GIA and buy 4 different units 25K each. In 4 years time GIA is say 140K Units value is 50, 50,…
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Capital Gain Tax after House Sale
My wife’s sister died in 2013. Her will left half of a jointly
owned house shared with her husband to my wife. I’m not aware of
any valuation on the house at that time. Her widower remained living
in the house until his death in 2022. His estate was left entirely to
charity with my wife as executor. Shortly after his…
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Free Childcare: Adjusted Net Income
Hi All, I have searched the forum and cannot find anywhere where this has been answered - I seem to be caught in a catch-22 position. Essentially, I am a day-rate contractor, inside IR35 and being paid via PAYE through an Umbrella company. I am fortunate enough to earn >£100k p.a. but that gives me a problem with the 30…
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Council Tax Band Tribunal - is it worth appealing?
Hello, I'm hoping for some advice please, regarding whether it's worth appealing a Council Tax Band change decision via the Valuation Tribunal England route. My partner and I bought a 1930's 3-bedroom, 1 bathroom semi detached house in Bristol in July 2024; it was in Band C. In November we received a letter from the…
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Halfords Shares
Hi My husband worked for Halfords for 10 years and was part of their shareholder scheme. I'm not sure of the dates but would have been the 90's. He has no paperwork as his ex partner destroyed it all when they split up. I have been on to him for years to make enquiries but without a rocket up his rear end he has done…
