Cutting tax

Hello, I am about to finalise the sale on my house and planning on living with family for a while. I asked about any extra costs with the solicitor and they mentioned capital gains tax might be payable but it wasn’t anything that person dealt with. I found a forum which suggested selling your home and not purchasing…

My wife's latest tax code notice details how HMRC worked out her tax code. There is a line for Less Untaxed Interest....£2654. Note 3 overleaf says this is an estimate of the interest she will receive during the year from banks etc. The vast majority of our savings are in ISAs. We have £6000 in a joint easy access account.…

Hi all i paid 10000 gross into an Aviva pension in the previous tax year. I also had savings interest that will exceed the £1000 allowed as a basic rate tax payer. Think this is likely to be around 2000.I also pay into LGPS. Will the payment to Aviva reduce my income and as a result mean not being liable for paying the tax…

Hi, I was online checking my wife's and my income tax allowances, and I noticed that in my wife's account there was a part saying "untaxed interest on savings and investments", now could someone explain what this is, please. We only have one savings account that is in "joint names" and I was under the understanding that,…

I liquidated my Unit Trust in January 2025 into which I paid £50 per month since 2000.How do I calculate the gain and how do I declare this on my Self Assessment for 2024/25.I declared the re-invested dividend each year.Totally confused, any help gratefully received.

In April I got a gross salary payment of £27850 (includes a bonus) was on tax code 1257L. Tax paid was £10935. In May I got gross payment of £8768 AFTER 8% salary sacrifice into pension. This was with a new employer. Tax paid was £2324. I was on tax code of 1257L. From June, I will get gross payment of £8010 a month. This…

We have just sold our house which we purchased 30 years ago. We rented it out for half the time, which I know we can use against our CGT liability. We also built a large extension of 80sqm, but the receipts have faded and we cannot find the original invoice from the builder. I spoke to HMC who told us just to estimate the…

Anyone have a formula please that can work out the tax due on a given amount, taking account of all the UK thresholds? For example, say there's a sum of 150k. We all know with personal allowance, upper threshold, high threshold it can get quite complex. Anyone develop a formula to work out the tax due for a given value?…

Does anyone know CGT is treated on inherited shares when you already hold some shares in same company? Is CGT charged on the difference from the probate value if you sell those shares; Or do the inherited shares become part of my existing shareholding and I have to recalculate the average purchase price to work out the CGT…

What's the quickest way to discover the total pension paid by DWP for last tax year? I have looked at my HMRC personal tax account, and it has details of employment pension, but not DWP. In previous years I have gone back through monthly bank statements, but I wondered whether there was a more authoritative source?

John and Jane are married. They own some properties. They have lived in the family home (jointly owned) for years. They have now separated. They also own a flat (and have owned it for 15 years) but it's in Jane's sole name, during this time it wasn't their main home. John has now moved into the flat and Jane has remained…

If your employee gives you a work van to drive to and from your place of work from your home address with a fuel card but the van does not get used for private use does this need to go on your P11D as a Benefit in Kind. Many thanks.

Hi, I am registered for the online HMRC service and not self-employed. Last year my P800 arrived in mid-June and there was a small tax refund to claim. I know from looking at my online tax details from 24-25 that I can expect a tax refund this year, too. So my question is can I expect my P800 in June again or is this…

My partner has moved in and I want to add him to the council tax. He has been here for a little while. I also will need to have the single person's reduction removed. I would very much appreciate if anyone would share their experience with regard to what I can expect or advice of what to do etc. Thank you.

I am completing my self assessment tax return online, and have inputted all of my details etc. I understand all of the income tax rules, and how much I should be paying, but I am confused about National Insurance. I have earned £10,130 via a mix of multiple PAYE contracts/payslips I have also earned £3735 from freelancing,…

Can anyone offer me a bit of advice on how best to invoice for expenses to properly cover the cost. I am fairly new to self employment and am trying to work out the best way to handle the cost of my business. I am likely to be hitting the higher rate tax band. As such I just wanted to check that I am doing the right thing.…

Hello, I've been self employed for a few years, during which time I wasn't earning enough to pay into a pension. I now have a PAYE job as well as the self employed work I do and I would like to make some additional pension contributions. Can I make retrospective pension contributions for the years I was self employed only?…

Hi . I thought I’d got my head around this , but am now questioning my calculations due to differing posts on here. My Mum passed away in August 2016 and everything passed to my Dad who we lost in March this year. As there was no RNRB in place in 2016 , can I claim it ? I thought I could claim the full £175 k but now I’m…

My uncle died leaving me his farm equipment. There is inheritance tax to pay. Whilst he was terminally ill, using a power of attorney, I sold a tractor at auction for £42,000. The value was written down to nil on his retirement / cessation of business years ago. This creates a £42,000 * 24% CGT liability. The sale proceeds…

Hi I was hoping to get some help on council tax. My partners wage can fluctuate every month. So this results in different council tax bills being sent out. Sometimes we qualify for council tax support, sometimes not. However, when we haven't qualified for it one month, I'm getting a new bill saying we've been overpaid…