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reclaiming old BIK tax from over 5 yrs ago
hi folks, retired from the railway 10 yrs ago and I'm a lucky one who gets free/low price train tickets, I've been had BiK deductions on my tax code all this time, found out that I shouldn't have been tax as company paided a one off sum when i first retired phoned HMRC and lady there has given me a rebate back to 2018, but…
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Company Car Tax
I handed my company car back In early January this year. It was immediately handed to another employee who is paying car tax on it. I contacted HMRC (when I moved jobs and realised I was still paying tax for the benefit of having the car) to be told I still have to pay for the car until the end of the year. I did not have…
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Not paying enough tax in new job - messy issue
I started a new job on the 15th April, leaving my previous one on the 12th. I handed in a New Starter checklist to my new role when I arrived. I got both salaries in today alongside both payslips, where I've been paid for 2 weeks by each job. I've barely paid any tax on either. Both salaries are above the 40-ish%…
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Self Assessment
Hello, I am currently doing mine and my wife's SA's, I have submitted mine but have not hers, I am lucky to be able to transfer 10% of her tax allowance to mine, does anyone know when this gets done and will show on my portal? do I need to submit both returns first?
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New employment - P45 issue
I was made redundant last April (2023) long story short only in late March 2024 got a new job. Gave my P45 to them, first paycheck for only a couple days was 0T tax code which I believe is a emergency tax code. Now a few days ago the payroll team came back with the following "Please be informed this P45 will be rejected as…
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Am I on emergency tax?
Hi I would be grateful for some clarity if possible :smile: I left my old job on 5 April 2024 and received quite a hefty last wage with unpaid holidays and bonus payments. I didn't realise that their payroll period ended 7 April 2024 so this took me into the new tax year and so used April's tax allowances (I assume). My…
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Very Badly written & misleading article by MSE
Shockingly poor article on MSE's Facebook page today. Headline states that the reduction in National Insurance contributions to 8% will mean an increase in tax paid (thus a number of commenter believe that means a reduction in take home pay). Feels politically motivated.
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Non residency status 90 days and 120 day rules
Hi there. A very specific question that I’m sure many working full time abroad have faced before, so looking for some guidance. I work full time in the Middle East and have followed the rule of <90 days in the UK for the past 3 years to maintain Non-residency status. Since I have now maintained this for 3 years I believe (…
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Do Pension Contributions Affect Student Loan Repayments? - Self Assessment
When filling in my self-assessment, if I fill in my pension contributions for the year, it lowers the amount of student loan repayment I'm due to pay. Should it? I'm a self-employed, basic-rate tax payer. Eg. If my earnings are £25,000, it deducts my £3000 pension contributions (gross figure: my contributions + tax relief)…
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Self Assessment Capital Gains and Interest
Slightly generic question as I don't want to overwhelm with detail... General situation: I've done a self assessment for several years, for the last 5 or 6 years it's been very straight forward...single PAYE income plus tiny bit of interest, some pension contributions and declaring spouse receiving child benefit which I…
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Interest on Crypto but reinvested
Holding crypto on some sites now comes with interest. on the site I use, I get interest in the crypto currency, not in £. So for example, if I hold 0.0500 units of bitcoin, I might get an additional 0.0025 bitcoin if the interest rate is 5% per year. annual allowance says I can earn £1000 of interest per year before paying…
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Am I going to get a fine? CIS
Can anyone help me? I'm pretty certain we will get a fine, but I'm worried about how much we are looking at. Can anyone help me? My partner is an electrician, he subcontracts to one customer doing some one off work. They have been deducting CIS since 25th September 2023, but we weren't aware he had to sign up to CIS. He…
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Tax code and private pension contributions
Hello all. I have filed my self assessment nice and early this year and applied for my overpaid tax refund due to private pension contributions. Can continued contributions be factored into my tax code for the coming year? Thanks to my SA they've reduced my personal allowance based on estimated income. But I know I'll make…
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Tax Rates 2012/13 Article Discussion
Hi folks, This thread is to discuss the Tax Rates guide, updated for the 2019/20 tax year Please click reply to discuss Dan
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Tax relief - query on the calcs
Hi I've rarely claimed tax relief in the past, but am doing so this year for milage I've driven, in my own vehicle, for work purposes. My query regards the logic HMRC use. Their site says: "You will receive tax relief
on the amount you claimed at the rate of tax you paid. For example, you make a
claim for expenses of £150…
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Two Separate Tax Issues (Council Tax and Income Tax)
Hello, I have recently been summoned to a hearing at the Magistrate's Court to explain why I have underpaid my Council Tax of the year 23/24. I was under the impression that I had in full. The discrepancy could have occurred around when I applied for Council Tax Reduction when I was unemployed. I believe that they…
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Our Council notified us of increase of our the council tax for granny/annex flat up to 200%
Hi I hope that somebody can advise on a best way to deal with an issue. Our Council has notified us that from Feb 2021 our council tax will be increased by 200% for our basement/annex /granny flat as it has been empty and unoccupied for 2 years now. The basement / annex/granny flat is a part of the house . It has a…
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Reaching higher tax threshhold and best decisions
Hi. I am earning £49000 and planned to earn interest on savings to take me up to around £50270. One thing I have just come across is paying back percentage of child benefit if earning more than £50000. Why is there a difference between that threshold and the tax threshold of 50270? So I would be paying back 2% of child…
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What do HMRC know?
I always have and will continue to report my values accurately to HMRC. I would not dare do otherwise. HMRC and DWP cannot even get state pension top-ups sorted out by working together accurately. So it begs the question, how do HMRC tally up what you report on your SA with what the banks, building societies, on-line…
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P11D and Self-Assessment
Just looking for some quick guidance. I've completed SA for the last few years, as I have self-employment in addition to my main job. I also make significant SIPP contributions as a HRT, which I increase every year. This is the first full year I've had an EV, and won't have my P11D until July. I can calculate the value…
