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Foreign Income and self assessment
Dear Forumites I am not actually trying to "cut" tax but did not know where else to post this! I would be quite happy to pay the appropriate amount of tax, but am unsure about how to put this on the self assessment form. Fully appreciate no one can give me advice! I have actually tried to register myself on the HMRC…
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Reclaim emergency tax from pension lump using form P53
I initiated the closure and full lump sum payment from an old pension policy on 20/03/2024. Obviously I was well aware I'd be liable for emergency tax, which I am now in the process of reclaiming. I received the payment on 10/04/2024. I'm assuming I now have to reclaim it using the 2024/25 tax year. Now to the P53 form…
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Gifting excess income & capital expenditure rules
My Dad recently asked me to look at his savings and
investments which to his, and my surprise, totalled just over £400K, excluding
his flat, and he’s keen to reduce his inheritance tax liability. After working out his income from pensions and interest on savings
(cash ISA’s) and deducting his outgoings he has an excess…
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23-24 self assessment
I've started my tax return, and it appears I still have to pay class 2 nic which I thought had been scrapped ? I've been SE since 2009 always paid class 2 to secure my pension. I have 40 years on my NI . Any advice please ?
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Financial advice England and Ireland
Hi, I’m currently working and living in the ROI. Therefore have pension, taxes etc in this country. I moved from England, where I have property, pension and investments. I’m looking for a financial advisor to help me with my pension and tax. Is it possible to find someone who is qualified to give advice for both countries…
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Self assessment - Incorrect Personal Allowance used to calculate my tax for 2023/24?
Good Afternoon Hoping someone can help me please. While completing my 2023/24 self-assessment online, I noticed my
correct personal tax code for 2023/24 (1384L) was not being used for my tax calculation.
It uses the default - 1257L. This increase in Personal Allowance was due to Pension tax relief from
a previous year (as…
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Personal allowance reduction more than expected
Hi - I'm hoping someone might be able to speculate on this one, as it was wishful thinking trying to get through to the HMRC helpline to ask, ha. I completed a tax self-assessment for the 22/23 tax year, as I got a new job that took me over the Higher Income Child Benefit Charge tax threshold for part of it so I knew I'd…
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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…
