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Day rate - PAYE threshold calculators?
Hi all, Can anyone recommend a tax calculator that might take in some inputs (e.g., day rate, or gross salary) to calculate what one might be able to do in order to stay within a certain tax bracket? For example - my annual PAYE salary is just over a particular tax band. I wonder how much I might be able to put away into a…
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SIPP contribution & tax relief
There's probably a relevant thread around but I couldn't find it.. I'm seeking clarification regarding SIPP contributions and tax relief. My situation is as follows: * I have flexible PAYE work earning around £10,000 annually. * I also earn between £10,000 and £17,570 annually in interest from savings. * My personal…
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redgoalsuk Thread watched Self assessment return error
Hi All I am just in the process of filling in my tax return for 23/24 and I have come across a problem when filling in the income details from my self employment. I was on Payee up up until 31/10/2023, I went self employed on 1/11/2023. My earnings on P45 (leaving date 31/10/2023) show £37,994 (total pay in this…
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Landlord expenses inc mortgage interest - self assessment
Hi all, completing my final self assessment as I sold my flat and had enough of being an accidental landlord. I’m adding 20% of my mortgage interest payments to this box in the self assessment ( - Residential property finance costs ). but it doesn’t seem to make a difference to the amount t owed. Should I put in the full…
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Self assessment and commercial vehicle
Afternoon All, Just looking for any advice please. In the process of completing my self employed husbands self assessment, however during the tax year he purchased a commercial vehicle. X amount was paid as cash deposit and the remaining balance was put onto repayments. Can we claim the deposit on the self assessment, and…
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HMRC say I have overpaid £3,500 in tax; I haven't. What is going on at HMRC?
I sent in an R40 in September to reclaim some tax on savings interest for 2023/2024 that was paid as part of an estate distribution to me as a beneficiary. The estate had paid the estate administration period tax on savings which was above the de minimis limit and so the estate distribution included net savings interest. I…
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Marriage Allowance - help, please!
Several years ago under the marriage tax allowance scheme, I transferred £1260 of my personal allowance to my husband, as I don't earn enough to pay tax. Looking on the government website, this is actually worth an extra £252 a year. It's worked perfectly until now, when last week my husband received an unexpected letter…
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National Insurance Class 2 advice please.
Please take a look at the following - This is the first year of filling in a tax return I started a business on 17/08/23 I took up full time employment on 20/06/23 I have to pay class 2 National insurance on my earnings from the small business NI contributions have also been paid through my full time employment (PAYE)…
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P800 Tax Calc. Will HMRC take money owed from benefits?
I have just received a P800 tax calculation from HMRC for tax year 23/24 telling me I owe them over £900. The letter says that £6700 of my income is from contributions based ESA, and £16900 from untaxed interest. One option for paying the tax owed looks like making a payment to them for the whole amount owed. Alternatively…
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2nd job tax total beginner at this
Hello, I am a band 6 theatre nurse and earn £44900 a year. I have been asked to join an agency to do extra lists at the weekends, it is in the same hospital with the same surgeons etc. The rate is £400 per session. I need to sort out my tax on this extra income, so I will need to fill out a self-assessment. I will probably…
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Reducing SA Bill by paying into Pension - Forecasting
Hi All. I have a very slightly fluctuating wage, so only by the end of the tax year I know if I am over £125k. In order to cut that down to 100k for Tax purposes, I plan to pay a lump sum into my pension. Does it matter if I actually physically pay it in the next tax year? For example for my 2024/5 tax return, I'll know my…
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Salary increase pushes me over basic rate tax threshold
I’m looking for some advice. I work part time. I have recently been given a salary increase which puts my annual pro rata salary at £13905pa. I’ve since started paying tax £17.60pm and £7.80pm employee NI. Which I didn’t pay prior to salary increase as I was under the threshold for tax. My current pension contribution is…
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Change of tax code to LX
Hi Appreciate any help as I have no knowledge I have been notified today that my tax code has changed from 1166L to 923LX and this is due to untaxed interest from savings which is £2409. I understand that LX means emergency tax code will my monthly tax deductions be a massive difference now? I am a basic rate tax payer…
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Claiming additional tax relief
I have unexpectedly breached the basic tax rate (by a couple of hundred pounds) for the 2023/2024 tax year due to earning just over £1200 interest on savings. I knew I would have to pay tax on the amount over £1000 but because it put my income for the year above £50,271 my personal savings allowance is only £500. I know it…
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Help double checking this IHT calc please?
I am not sure if I am posting in the right place, but it seemed appropriate. I am completing the Gov.Uk cal on whether IHT is due and amounts for probate. I belive its all done correctly, but can someone just make sure the figures look right - should probate net and gross value be the same? My dads house share TIC left to…
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Putting property into a trust
I'm looking for concise, easy-to-read, and understandable info. I've read threads on this site and I've noted they are often taken off topic and some try to bring in other factors that the thread starter may not be interested in. We have a very decent income from our income trusts and several pensions and we also go…
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Income from a unit trust
I am pretty sure that I have nothing to declare. I have looked at Do you need to pay tax on any of the following? - Check if you need to send a Self Assessment tax return - GOV.UK and can answer No to all questions except possibly no. 7 which mentions income from a trust. Does this include interest paid on a unit trust…
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Does HMRC pay interest on delayed repayment of overpaid tax?
I've had a tax repayment pending since 6th May 2024. It was paid out today (17th Jan 2025) after multiple calls. HMRC have had my bank details all this time, indeed my self-assessment form indicated that any overpayment should be paid out to that account. Given the delay, does anyone know if HMRC should be paying me…
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Voluntary Class 2 NI Contributions
When I did my tax return recently, it asked me if I want to pay voluntary Class 2 NI Contributions. I said yes, but I can't see anywhere to pay the bill. I asked about this on the online chat. It showed a page that asks for an 18 digit number but I don't know where to find that number. In previous years, I wasn't asked for…
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Tax for Newbie
Hi please can anyone help a totally thick newbie to working out her tax. I know some will say that I need to use an accountant but I want to learn and do it myself. When I go on the Martin Lewis tax calculator and enter in details, why does the tax free allowance increase from the £12,750
