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I think I forgot to declare Dividends on my 2022/2023 tax return. What now?
Hey all, I just realised I was paid in £744.52 of dividends in the 2022/2023 tax year. Looking at my return I saved I can't see that I declared it. I read there is a dividend allowance, though not sure if this factors in with what I earn which is over 49k. Would I still need to declare these dividends? If so how would I go…
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Historical currency converters giving slightly different results?
For my capital gains tax I need to create a shares summary sheet. As my shares were held in the US all the figures are in dollars. I am using a historical calculator to convert them to GBP based on the dates they were purchased. I need to acquire a figure for cost so I can put that in the return. However, I noticed…
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Life insurance and self assessment
Hi I'm completing my self assessment tax return for 2023-24 Can someone advise me on the following question: Did you receive any other UK income, for example, employment lump sums, share schemes, life insurance gains? My husband sadly passed away in November 2021. He had a life insurance policy which wasn't put in trust.…
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HMRC Bank Interest returns: A mess?
I asked HMRC for a list of the bank interest data for the 2023/4 tax year which I now have, in print. The entries 'Source' is categorised as 'Actual' or 'Estimate' I reconciled most of the Actual entries with my records... but there were a few bank returns they were missing (several app based) plus a lot of 'estimates'.…
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About to receive an inheritance, what is the best way to maximise this gift and minimize tax
HI all First off I'm not sure if this is posted in the right place, apologies if not. So me (50M) am due to receive about 200K+ in inheritance this year. What to do? The cat is gonna get a big fish to celebrate * I have: * No debts (Well £600 on CC till its paid off next month) * No Family * Have about 6 months emergency…
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Liquidating GIA/ISA and moving abroad - CGT
I messed up badly. I wasn't paying attention on CGT allowance cuts during 2023 and 2024, because of that I never opened ISA account to protect me from CGT. All the time I held my shares in GIA and thought that CGT allowance was still £12.5k. I know, very stupid. So in June 2024 I opened my ISA account, sold GIA assets,…
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Really need help with Capital Gains section f self assessment :(
Hi all, So I left the company I worked for in 2017. They awarded me shares which amounted to something like 4k at the time. I forgot about them and last year saw they they grew to around £32k (these are all approximations) last year I was buying a house and needed the money to pay towards the deposit. I sold all shares in…
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Opting out of PAYE
I’m now receiving the state pension since January. I was working for the uk limited company owned by an Italian company until June and then converted to a zero hours contract so I could refuse some jobs. I’m also self employed for over five years making canal boat safety inspections which entails a self assessment every…
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Amateur music group
If musicians come together to practice regularly and play occasionally for other organisations (typically village halls) do they need to register with HMRC, file accounts, pay tax? INCOME Membership subs total per year £1100 Performances say £1200 EXPENSES Room hire £600 Equipment £200 AGM - meal to review £300 Expenses…
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Council Tax and Electoral Roll
I have no permanent residence in England, either owned or rented. Thanks
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Self assessment e-mail
I just got an e-Mail from HMRC reminding me there are 100 days left for to file my self assessment return. Not sure if this is a regular e-Mail and others have received it? I definitely wasn’t expecting to complete a self assessment and indeed I’ve had notification of my tax calc for FY25 from HMRC online. I did complete…
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Unused 'Starting Savings Rate' & 'Personal Savings Allowance'
Can unused 'Starting Savings Rate ' and Personal Savings Allowance be used to add to your Dividend Allowance? For example year 23/24 Say you earned £12,570 from non-saving and non-dividend income . You had £5400 interest on bank/building society savings You had £2000 share dividend. I'm assuming £5000 of that £5400 is…
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Claiming tax relief on memberships for work
Hi, I’ve claimed this before via the HMRC app and have been able to see which years I’ve claimed for what previously. I’ve gone to do this now online and can only find instructions to print and post a form, and also nothing on what I’ve claimed before cos I can’t remember if I did this for last tax year and wanted to…
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hmrc issue , wrong tax code, wrong job.
Can anyone advise. Ive just noticed my pay was different this month, paying quite a lot of tax and on an emergency tax code. When looking into my hmrc online account there is an employer listed that has nothing to do with me, some painting and decorating company. A completely different name in a completely different part…
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Can government retrospectively change tax-free lump sum allowance in the budget?
My husband took a £47k rax-free lump sump from one company pension when he was 60. Now, 7 years later, he is planning to take another of his company pensions and buy an annuity as he wants the certainty of a guaranteed income. He plans to take the 25% tax-free lump sum which is £85k. He has the application ready to go but…
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Sole Trader - Mystery shopper - query
Hi everyone. Help please. For assignments that I carry out which involve no payment from the mystery shopper company I carry out work for but I get reimbursement of the cost of the meal, how should that be reported? Am I able to claim it as a meal expense? I'm using Freeagent so extra bonus points if you can guide me…
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Capital gains tax on property
Hello All, Thank you in advance for any help you are able to give. I have consulted the government website and note that if you are selling a home in which you do not reside you are liable to capital gains tax (CGT). However, I need to understand if we can get Primary Residence Relief. So let me explain the situation:…
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How to select top slicing in Tax Return
Hello On this years' return, I have a Life Insurance policy surrender gain which takes me into the higher rate by around £3k, The value is 12292, so notional tax of 4916, over 27 years. However, the top slicing relief is given as only £0.01! I seem to recall an option for this relief when I was completing the return and,…
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Company Car Tax being charged twice?
My hubby was made redundant earlier this year. His end date of employment was the 1st August. He had a company car, fuel benefit and medical insurance. Whilst he was working, his tax code was reduced to take into account his company benefits. We have notified HMRC of all of this and they have adjusted his tax code but are…
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Overpaid tax 2 months in a row.
Hi there. Hoping someone can help. My wife started a new part time job in September (25 hours a week), her annual salary is £14,067, which equates to £1,172 a month before tax. she got her first pay end of September for the amount of £847, checking her slip she was put on an emergency tax code so clearly was taxed too…
