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P53 or P53z
Hello I am in the process of making a lump sum withdrawal from a small pension pot. This will be the 2nd withdrawal , the 1st was 25% tax free . The latest withdrawal is for year 23/24. I was told by the pension people I would pay emergency tax and have to claim it back,form HMRC, in the email it said use a P53z. form. I…
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Hospital cash beenfit taxable
Last year I opted to undergo surgery on the NHS rather than use my private health policy. (I am self-employed so not an employer's policy). It offered an NHS hospital cash benefit and I did indeed eventually receive a lump sum payment. Am I correct in thinking this must be taxable for Self Assessment purposes?
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Tax code
Hi, In September I was given a big promotion and was paid over £100k in 2023/24. I have done a self assessment which has shown that I underpaid tax, which is fair enough. However, I’ve been another pay rise which means I expect to earn £150k this financial year. I updated my HMRC account with my predicted salary as I want…
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HMO bills included
Filling in my tax return and can't find a definitive answer as to where to include the inclusive bills (I pay the gas/electric, tv license etc). I'm undecided as to whether it's meant to be Cost of Services provided or Rent,rates, insurance, ground,rents section (which I know is where the water and council tax bills are…
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Advice on Self Assessment when had 2 employments during the year..
Hi All, appreciate some guidance if anyone can help. I have to complete a self assessment this year and I changed jobs 3/4 of the way through the year. I am full time employed (not self employed) Do I say I had 2 employments? I am assuming yes. The the form asks me to declare the income as per my P60. However on the P60 it…
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Finding my taxcode
I retired some years ago and have made self-assesments before and since. Just to verify all is well, I would like to see my current tax code, following various changes in income. I cannot see it anywhere. Advice says 'check your pay slip' (etc) whch is not helpful. Am I missing something obvious when I log in to SA?…
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2023/24 self assessment and debt owed from 2021/22
Hi, Just drafted my self assessment and it lists an amount owed from previous years. The amount matches the total owed from my 2021/22 return. I had understood that previous amounts due were all collected via my tax code. Last year I was due a rebate which was given in June. In my tax account it says the balance due is…
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Self assessment newbie confused help appreciated
Hello everyone firstly apologies if this is in the wrong section I wasn't certain which fit my situation best I have recently started work after a long (years) absence for medical reasons. I am working for only one company but I am not employed and I am aware I have to pay my own Tax and NI. My first question is would the…
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Online Tax Return @ HMRC and playing with the numbers
Can I experiment with different numbers on my tax return to see if certain things are worth my while when it gives me my calculation so I am prepared for next year? As long as I don't actually submit/file the return then no harm is done? I am worried that when I get the "tax due" regarding different figures it will be…
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Company car benefit tax for old job - refund owed?
Hey all, I left my last job in Sept 2023 and started my new job on 2nd October 23. I had a company car at my old job, but access to a pool car in my new job - which I'm not entitled to use for personal use, or to take it home at night. I happened to notice on my HMRC app this morning that under my current employer, I have…
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Disaster Marriage Tax Allowance HMRC Claim
OK. This marriage tax
allowance claim has been a disaster and I probably have to blame myself for
this. I thought the HMRC online marriage tax allowance form would ensure
the figures we entered for my partners details meet the criteria for transferring
the allowance over to me or stop it from being processed, if we were…
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Are savings counted as income for marriage allowance upper limit?
Hi, Long time lurker but finally a question I cannot seem to find an answer to already. I was planning to transfer my marriage tax allowance to my other half for this tax year. I will earn well below the tax threshold for thiis year, however other half is at top end earning £46k gross pay a year (however does salary…
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Tax code/interest
Im confused about why tax code has been reduced to 1050L P60 income for 22/23 was £10444 tax code 1238L and savings interest £470 P60 income for 23/24 was £10882 tax code 1226L and savings interest £1830 logged into HMRC to check NI and realised that in November tax code was reduced to 1085L and has been reduced again for…
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helping elderly relative with tax return
I have an elderly relative with dementia. She needs to file a tax return for interest on savings. I seem unable to register her for Government Gateway as she has only one form of ID. So cant register myself as a Helper on my Gateway as she need to accept me. Any Ideas?
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Capital Gains Tax
-My husband and I are in the process of selling our rented flat. It is SSTC, early stages. I estimate we will make a capital gain of around £12000 between us. ( I have taken off buying and selling costs, plus the current CGT allowance of £3k each). The flat is owned as 50/50 Tenants-in-common. My question is, when do I…
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Surprise inheritance of house in Spain but need advice.
My stepmother passed away earlier this year. She and my Dad were happily married for 30 years and she had no children. (My Dad passed away in 2021). They lived in Madrid and she owned the house they lived in. I have recently found out that she has left me the house in her will which has come as quite a shock as although we…
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Married couples allowance - cancellation issue
So, as my wife is now a tax payer due to the threshold not being raised, We have gone onto HMRC page to advise them of this as good citizens so as to pay tax accurately for the 24/25 tax year. System has noted this and applied it, but it wont take effect until the next tax year 25/26. Why can they adjust it now? I would…
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Final tax return question.
Hi I stopped self employment on the 5th Dec 2023 (HMRC has been informed) I normally put the 5th April date for when your books or account is made up to. Do I need to change this to the 5th Dec?
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lifetime leases and inheritance tax?
The market rate for a lifetime lease is typically 50% of what you
would pay if you were buying outright. Consider a situation where a
son owns a second home worth 400k (mortgage free). He sells a
lifetime lease to his mother for this property who is in her 80s for
200k. She then dies within 1 year of purchasing the lease.…
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Tax return and allowance for year of death
My dad died early in the 2023-24 tax year. My mum is still alive. They both had to do tax returns - due to foreign income - which I have done for the last 5 or so years. Based on their income dad had to pay a bit of tax but as they were married decades ago they could transfer mum’s unused allowance to dad and there was…
