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AIA - Acquisition & Disposal in Same Tax Year
Hi all! Just a quick question re: AIA, if someone could assist? I'm a sole trader, not VAT registered. I purchased a computer in the tax year 20-21 for £1000. I apportioned 60% for business use, 40% private use. I therefore claimed £600 AIA in my 20-21 tax return. In the last tax year 24-25, I sold the above computer for…
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Anyone challenged a council for double Council tax charge on ones only property?
After running out of funds completely refurbishing/modernising my only property, I was unable to finish it and move back in for three and a half years. Thus, after a given period my local council informed me they would be charging me double council tax on the property. On enquiring with them why they would do such a thing…
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tiny salary but lump sum for a house deposit means SLC want half son's salary's worth this year
My son is struggling on an entry level teacher's salary. He has a small amount deducted each month for student undergraduate and postgraduate loans as just over the thresholds. As a trust beneficiary he received £70,000 from a trust in the tax year 2024-5 for a house deposit, which he then used to buy a tiny 1-bed place…
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Finalisation of inheritance tax.
I've recently had to sort out my late mother's estate and this included paying the IHT that was due. The sum required was calculated by an agent who specialises in this and the amount estimated to be owed along with all of the associated forms has been submitted to HMRC a few couple of months ago. Does anyone know how long…
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Requirement to register for self-assessment
Just before Christmas I received a letter from HMRC stating that I asked to register for self-assessment or met a criteria for needing to be registered. It can only be the latter, as I haven't asked, and do have some house sale proceeds earning interest. I am retired, on a modest pension, but the building society interest…
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Which wrappers to take income from in retirement
I am trying to work out the most tax-efficient way to draw
pension income from SIPPs and ISAs (dividends and interest). Our situation is: Me: £2k-£5k earned income (might take on more work but
unlikely), SP in 2028 OH: £14k in pensions and £6k earned income. Our investments/cash are about 50% in SIPPs, 25% in ISAs,…
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Frustration with HMRC.
I'm trying to contact HMRC this Saturday morning by phone and according to this they're open from 8am. https://www.gov.uk/find-hmrc-contacts/income-tax-enquiries However, I'm having no joy and a voice is telling me they're not currently open. I've received a notification telling me I'm underpaid tax on savings, all to do…
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Scrapping of home working expenses tax relief
One budget announcement that seems to have sneaked under the radar (haven't seen it mentioned on here, apologies if I missed it) https://www.gov.uk/government/publications/income-tax-removal-of-the-tax-relief-for-additional-homeworking-expenses Interestingly employers can still reimburse costs but individuals can't claim…
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Higher tax rate
In June 2025 I ended my civil service career on medical inefficiency grounds for which I received a compensation payment. With unused holiday, payment lieu of notice and the actual compensation my final payment was approximately £120k. I paid £47k in tax on this payment which I believe was excessive. I have now started a…
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Self Assessment and overpayment...
I have overpaid tax repayment from last years return. According to my HMRC account this overpayment is available for repayment. However, I am about to submit my return for 2024/25 and anticipate I will owe some tax. How can I offset this with the overpayment sitting in my account from last years return?
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Calculating max SIPP withdrawal to avoid 20% tax
I am heading towards retirement a couple of years before accessing SP and want to withdraw the max from my SIPP to avoid paying 20% tax. On https://www.tax.service.gov.uk/guidance/work-out-tax-on-your-savings-or-dividend-income/start/tax-year I have entered:Dividend income £13,500Savings £3,500Other income £15,170.The site…
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Duplicate Government Gateway account and self assessment - Help
Hi, I have just opened a Government Gateway account and registered for self assessment. When I got to the end of the process and was told that I already had a Government Gateway account and was to use the original one. I completed the forms for Self Assessment on the duplicate account and was expecting the 2 accounts to be…
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Self Assessment calculation
The figure on the ‘your calculation’ page is very much higher than expected. Once over the shock I realise that it is about the amount that I paid in advance payments for the tax year 24/25 (paid Jan 25 and July 25). Was there somewhere I should have entered them in the Self Assessment? Or somewhere I should have seen them…
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Reduce payment on account to £0?
I'm self employed and in self assessment. According to HMRC I owe £1300 in January as a payment on account. Based on the last 6 months, I'm expecting to have income this tax year of between £5,000 and £9,000 (hopefully around the higher end!) from work plus about £1,000 in non-ISA savings interest, which I think means I…
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Jump to a ltd company
Hi, I posted this before in another thread, but it was becoming too much into one thread, so I thought to open a dedicated thread. In a few words, I think I'll open a company to expand my "employment" possibilities, considering that in my field a full time employment is shrinking dramatically. A ltd company is not my best…
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Capital gains tax on share sale
Partner started with 1000 shares and over the years took more shares in lieu of dividends. I don't have any record of when they were acquired or the 'cost'. The statements show the total value of the shares, but how is the CGT calculated if sold and worse still only some of them?
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Customs charge confusion
Not sure the best subforum for this query - but this seemed the least wrong one! We visited a friend in Germany for New Year - on arrival they mentioned they'd sent us a surprise Christmas gift in the post but that it had got held up and not delivered in time due to delays with customs charges. Sure enough, when we arrived…
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Married Allowance transfer to hubby
Hi, I would be grateful for reassurance that I have done the right thing in transferring the 10% of my personal allowance to my self-employed husband. My earnings will be below the £12,570 threshold for the tax year and my husband is a sole trader with a turnover of approx £50k. Thanks in advance.
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Self Assessment - How do I use previous years capital gains loss?
Hi all, Has anyone used a capital gains loss from a previous year to offset the gain in a later tax year? I made a small loss (£1000) in my investment account in the 2023-24 tax year which I registered in my self assessment form for that year. In the 2024-25 tax year I made a small gain (£5000) in the same account. I will…
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How do I handle payments on account made before submitting self assessment?
I'm completing the self assessment for 2024-25. In 2025 I made two payments on account of approx £2000 in total. Presumably to cover tax HMRC expected me to owe over and above the tax deducted from my income. How do I deal with these payments on account in my self assessment return? I have tried to get through to HMRC to…
