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IHT – unmarried and childless? Discriminatory IHT .. needs reform !
Hello, a very long time lurker .. first time poster .. so please go easy ! As it stands, my understanding is that members of the “unmarried, childless population” people don’t get the additional “benefit” of the £175k Inheritance Tax Residence Nil Rate Band (RNRB), so are stuck with a measly £325k IHT limit and then will…
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Salary sacrifice car
I’m currently salary just under £90k per year but with overtime and bonus I’m regularly hitting £130k+ per year. My employer has recently started a salary sacrifice scheme for cars. I have seen a vehicle I’m interested in and have an online quote but the price seems different to what I’ve worked it out using a salary…
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Help with IHT following death of already deceased father's widow.
Help needed please. My mother passed long
before my father. He remarried and passed ten years ago BUT his second wife
only passed this year. She was more wealthy than my father and owned a
larger share of their house. My father's estate was lower than the IHT
threshold but his widow's will be higher. Her family have…
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My balance still isn't updated after reduced payments a while ago. Do I need to pay what I don't owe
I have requested to reduce payments before over the years and usually it's quite quick to update the new balance. This time it still hasn't updated and now it's the 31st of July and although I shouldn't have a bill as I have over paid in January, the bill is still there as it's not updated yet. If anything I am due a…
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IHT and general tax in 2027
Hi not looking for advice just
some facts. This
relates to the new IHT on pensions coming in April 27 as well as
general taxation. 1.
Will I still be able to pass my pensions and savings to my wife
without any tax or IHT being applied if I die before I’m 75. 2.
Am I correct in thinking that ISA’s will be included for IHT…
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Working From Home Tax Relief 2025/26
Does anyone know what the arrangements are this year? The online form/process looked completely different to last year I've claimed every year since Covid - because my employer closed the office and moved us all to full-time remote workers. I have the signed contracts that confirm this The last couple of years, you…
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Salary sacrifice limit
I currently do salary sacrifice and have asked my employer what is the maximum percentage I can sacrifice. My employer has said that there is no limit but my salary can not fall below minimum wage. I work 35 hours a week. So does that mean I have to earn a minimum of £22,222.20? (£12.21 per hour x 35 hours per week x 52…
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Capital Gains and Excess Reportable Income
I have a holding of Vanguard VWRL / IE00B3RBWM25 which was purchased in June 2025 in a GIA. I was looking in to whether I have to report ERI in any tax return. From what I can see online, I only have to report the ERI for tax purposes if I owned the shares on the distribution date of the ERI? As such, if I bought the…
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Tax Code Car Benefit
Hi, Trying to understand this as not seen it on my tax code notice before. I have a Less Car Benefit figure that is reducing my personal allowance. Yes I understand that part but what I cannot get clarification on is how that figure is obtained. My company used to give me a company car cash allowance that was paid into my…
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Reduced personal allowance
Hi I earn ~£65k, does a reduced personal allowance (1168L in my case) reduce the point when the higher rate threshold kicks in? i,e does the higher rate band start at £49380 for me Thanks
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MTD recommended software for buying / selling from home
Hi all Work from home buying + selling from / to contacts only . Approx £3k turnover / month - £900 profit .I see MTD is something I will have to look at maybe not this year but if turnover increase prob next year. My work is basic - buy from individual via PayPal and sell to another via PayPal payment approx 4 invoices…
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Reporting or not reporting IHT
Hi on a simple estate of 525k where 500 k is a property left to 2 sons of deceased where there is a 41k debt to pay leaving a net of 484k the inheritance tax checker tool says No tax to pay , BUT do you still have to send in form IHT 400 &IHT 435 to obtain probate as 325k is limit before exemption thank you in advance for…
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Inheritance tax minefields
First off I am a newbie here and I apologise if I have posted this in the wrong place but I hope you can help with what feels like a real inheritance tax minefield. My mum is 75, in good health, and owns her home outright. She wants to leave the house to me and my children, but she’s concerned about inheritance tax and the…
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Benefit in Kind - salary sacrifice EV
Hello I'm wondering if when BiK is calculated on the above scheme, your pre-sacrifice salary is used? I know that you take the value of the benefit and then multiply it by the rate, which is currently 3% for EVs. Then you need to multiply it by your tax band (e.g. 40%). What I don't understand is how you decide which tax…
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Did I really have almost 10k deductions in one month?
Hi All, I signed a retention bonus which has just been paid. As a result, my deductions jumped to almost 10k. Am I likely to see any of that money again or are the tax calculations correct? Any advice is appreciated. The breakdown is: Payments: Salary4,506.25R Award15,750.00GPP Pension Salary SacrificeRate 5 -225.31 Total…
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Tax on dividends question
I have my own Ltd Company and take no income from it, nor do I have any other income from employment. I earn roughly 15k in bank interest. I am thinking of taking 20k from my Ltd Co in dividends. Can someone give me a break down on my tax liability? Thanks.
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Retired and not working but asked to pay tax in advance
Hello, I have been retired for several years. Due to several bonds having matured during the 2024025 tax year, the interest I received was higher than usual and I had to pay over £1,000 in income tax for the year. That was to be expected, but I was also asked to make two advance payments for next year, one by end January…
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WORK BONUSES - ACTION TO REDUCE THE TAX HIT?
My daughter received a hefty bonus last year in the form of a phantom option. She took no action to try and reduce the tax hit and so has received a demand for a large sum of unpaid income tax as at end of year she was in higher tax band and as her total annual income was in excess of £100k her Personal Tax Free Allowance…
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Defining a second home.
Question re: Second Home definition. I live abroad where I pay money to rent a place. Back in UK I was letting out my flat but tenant now left and I am in charge of council tax. But the council have sent me a bill outlining the costs - it regards the place as a second home!!!!! And so the council tax is a whopping double.…
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Retirement Tax Code
Sorry if this is a common question but I can't find anything. I retired last September and claimed and received a refund of my PAYE. I have not had anything since, ie I did not receive a tax code for this year, is that normal ? I am not taking any pension or have any income, but will take my tax free allowance from my DC…
