Cutting tax

Hi there, I’m new to the forum and looking for advice. I had a letter last week to say I might’ve paid too much NI in 23/24. As I had more than one job. I have a full time job where my tax free allowance etc goes and I pay NI. In my spare time I play sport and get paid in a payment at the end of the season. I have always…

Hi I'm hoping someone can help me with this. So I am paid weekly and I have noticed that the last couple of weeks I have been paid my tax has shot up. I will post some figures and hopefully someone can help me and let me know why and if this will now continue at this rate from now on. My tax code is: 1257L So these are the…

Hi All, I'm trying to understand the best course of action for family wealth planning. There's four investment bonds held in trust (I'm unsure if this is an absolute or discretionary trust). Set up a long time ago by my mother who is thankfully still with us and in good health. Trustees: Mother and Sister Beneficiaries: Me…

Recently married at 58, no children, wife has 3 x children, my 'estate' would currently be worth £450,000 property + £70,000 cash. Her 'estate' would be £350,000 property, £185,000 cash. Basically, I am just starting to look at Inheritance Tax and have a few questions as I seem to be getting a bit confused. This is all…

Hi all, Hoping someone here can help clarify something about CGT reporting — and whether I need to fix a past tax return. I’m already registered for Self Assessment because I have rental income and some dividend income. I've been buying and selling stocks for a few years through Trading212, and I’ve recently realised that…

After watching Martin’s programme on claiming marriage allowance transfer I realised that I met the criteria to transfer to my husband. On 26th feb I sent in a form claiming for 4 tax years - 20/21 - 21/22 - 22/23 - 23/24. On 13th march my husband received a letter saying he was due a repayment of income tax for tax year…

I usually do my SA about August time. I have just had an email from HRMC about doing one now. Should I do one now with figures from August till April so I am then in line or just do it how I usually do in August?

Hi all I have had several chats with HMRC asking about tax code advice and how best to allocate my tax free allowance, with mixed advice every time, so I'm really confused. Just calculated I'm owed approx £1000 tax rebate. Whilst that's a nice bonus, I'm keen to sort this out so I am paying the right tax for this tax year.…

I thought this was interesting, HMRC have been taking some steps to try to protect taxpayers from unscrupulous agents. Though it’s only a matter of time before someone grumbles about it! https://www.litrg.org.uk/news/new-rules-claiming-tax-refunds-using-agent

I have been told my company will pay for private medical insurance. They say annual premium is £1,200. They also said I can have private dental insurance with premium being £500. If my salary is 95k do I add on the extra £1700 in terms of tax? Guessing I pay 40% of £1700?

Around June last year my tax code was changed from 1257L to 1649L. I think this was done as I always ended up with a rebate due to pension contributions / Higher rate tax. After filling in my return this year I notice it is still saying 1257L for the calculations and I am still getting a rebate. Is this normal, my slight…

Historically I have had to put in child Benefit charge details when filling out the SA100 however for some reason I cannot seem to find the section when doing my tax return for 24/25. which section do I enter this info please, I thought it was the Tailor your return section but just cannot see it. TIA 

Hi I am looking for some tax advice particularly regarding paying tax on a payout from an employment tribunal settlement. I have been awarded a substantial amount in an out of court settlement with an old employer. This will now put me well over the 40% tax bracket so do I have to pay 40% tax on this or is there a way to…

I recently started an employed job where I am being paid mileage at 26p a mile. I understand I can claim relief for the miles travelled as the allowed rate is 45p. With the end of the tax year just passed I am looking at filling in my self assessment (I am employed as well as self employed). I know the miles I have…

I know you can leave your property to your direct descendent which increases the threshold to £500,000 before inheritance tax is due or if it is left to your spouse and your spouse leaves it to a child, then potentially the threshold is £1,000,000. My parents have been separated for about 30 years (extremely amicably) and…

I've checked my personal tax account online, and my estimated income was showing way too low, so I updated that to better reflect my estimate. My first question is that (I think) I've read on here that, if you update your estimate and get it wrong, HMRC can apply interest to any tax due later - is that actually correct?…

Good morning Not sure whether this is best in pensions or here so I’ll start here I’m in the lucky position that at 55 later this year I can draw my final salary/DB pension from my career long employer (£200k TFLS + £30k pa) Since leaving last year I’ve secured a job ticking all my boxes for the next few years (shifts,…

Hi, I am a UK resident and have inherited some land overseas and the inheritance tax has all been paid overseas. I am looking to sell the land and wanted to know whether once the proceeds come into my UK bank account, whether I would be subject to further tax in the UK? In these cases, is it best to seek professional…

Hi, HMRC have made an data entry error on my 2024/2025 Tax Account. Instead on putting the full amount of payout as a one off annual, they inputted it as a monthly amount. Now this year 2025/2026 estimated earnings are stating £134,000 which puts me in the 45% tax bracket. So when I queried this amount with HMRC today,…

I left my last employer at the end of March 2025 and have received my P45. I have a drawdown pension plan which I have previously accessed and will be accessing in the 2025-2026 tax year. My latest tax code notice from HMRC states that my personal tax free allowance is assigned to my old employer and that any drawdown from…