Cutting tax

I am hoping to create a discretionary trust. I would like to know the platforms that would let me invest the money as a trustee in stocks and shares. I have asked AJ Bell and iWeb who have told me that it would not be possible on their platforms.

Hi, Filling in the state pension amount on the SA online. I am entering 11,963.95p and it is adjusting it automatically to 11,963.00. Should I be rounding it up myself to 11,964 or leaving it at their correction. It is doing the same thing when I enter the untaxed savings interest amount (pence being 83p and it is…

Hi, (Not to mods: I posted something similar to this back in January, but this time I have a bit more information and would like to keep this as my new post.) I’m hoping someone can help me understand my position before I speak to HMRC again and/or take formal insolvency advice. I’ll try to keep this as clear as possible.…

A relative has died recently and they had a life interest in the assets of a trust. Those assets comprised a bank deposit. At the date of death interest (which was payable on the deposit annually) had been recently paid on the deposit and added to the account but the trustees had not yet calculated the tax they would have…

Hi, I'm a working mum and got a P800 letter at the end of last year stating I owed some money due to untaxed interest on savings. It was about £590 and I agreed for HMRC to take it out my pay. First of all they changed my personal allowance to 680 which cut my pay massively. I had to call them to advise that I no longer…

Sorry if posted on wrong forum Tax deductions from my wages 26 apr gross pay £1682.94 tax £334.80 26may gross pay £7841.76 tax £2212.73 26 June gross pay £190.78 tax £38.00 I took voluntary redundancy on 16 May the £7841.76 was the balance off my tax free amount these are the figures from my gov gateway account the may tax…

I've done my own online tax return for years for rental income. However, last year I used an accountant & was sent a different Unique tax code for him to use. If I do it myself this year, would I need to request a new code? or should I use my original one? Thankyou, I cant seem to find a clear answer to this

Hello - my wife is unemployed but received a letter in the post a while back saying she needed to complete a self assessment form. I don't know exactly why but it might be that she's marginally strayed over the personal allowance due to savings interest. I've this evening gone in to register her for self assessment but…

Suppose I have no income from Work Suppose I am not a pensioner Suppose I have interest from savings of 10K / year and that is basically my only income By my layman thinking. There is no Income tax due on that 10K interest A portion of that 10K would be from a personal ISA anyway What are your thoughts folks?

If I make charity donations, is it correct that: they qualify for Gift Aid if I have paid sufficient tax on SIPP withdrawals, ie not on other sources of income? the amount I can withdraw from my SIPP while paying basic (not higher) rate tax is increased by the grossed up donation amount, ie for 1257L with £4000 net…

I already have a Government Gateway account and of course my NI number and D.O.B. When I try to log in with these I get an error message to say that I can't do it this way due to technical issues. It pushes me to use the Gov id app to send images from my passport and a selfie photo but then rejects the photo. I suspect…

Recently sold some executive shares and to avoid paying Employers Nat insurance at 15% can I put all the profits into my pension ( I’m still full time employed) even though it puts me over the £60,000 tax free allowance …. I know I have to pay 40% to HMRC I’m just trying to avoid paying the Emp Nat ins …. I’m over pension…

I am 66. On 1st October I will be 'retired', and in receipt of the State Pension plus two other private workplace pensions, total of the 3 will come to around £51k, so eating all of my Personal Allowance. I have a small SIPP which I started at the back end of the last tax year, which currently has just under £18k in it,…

I have just tried to do this on my tax account but have just abandoned it as I wasn't sure I was doing it right, so any help would be appreciated. Firstly I updated my 2025/26 interest online at the beginning of may and have already received a confirmation letter. I did expect a revised tax code but I called HMRC who said…

I am a recent "pensioner" who has taken my State Pension, but continue to work. Currently my salary is at least 3x my monthly Pension but has only 3k or so of my tax allowance applied to it while my pension has the rest. As my salary is so much more than my pension, I would prefer to have all my tax allowance appl;ied to…

Good evening everyone. We are already gifting regularly from income and understand the records to be kept. I have a specific question. We do have significant cash savings which we use to pay for our extravagant luxury holidays. To put that in perspective think equivalent to 2 months income. Do we have to enter this expense…

Mrs A has died. Mrs A owns a property outright. The will create a lifetime interest trust for their partner (Mr B) not married. This property is currently rented out. The executors of the will are named as the trustees for the property. They are also the children of Mrs A and will eventually inherit the property when Mr B…

For context, I'm a retiree paying basic rate tax on my pensions, savings interest and dividends via self-assessment. In a previous thread, I was trying to work out why HMRC had just increased the tax code on my occupational pension for 2026/27 (i.e. reducing the PAYE tax paid each month). If I had just accepted it, I would…

I think I've been an idiot. I have a trading account in which I invested some money by buying units in a couple of funds. Last year I decided to switch to a couple of different funds. So I sold all the units and then used the proceeds to buy units in the new funds (I did not withdraw anything). Even though I did not…

Good Afternoon all! I appreciate fully and am not trying to get advice on here but guidance on whether I am quite frankly wrong. My parents have a house about 800,000 and savings of up to 500,000 The house has been put in a trust between myself and my sister and them. Recently I have had concerns that this is not the best…