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Can I change my Government Gateway user ID?
Not too sure where to post this, but this one seems most relevant. My computer has 3 different people's Government Gateway user ID details saved by Chrome. Mine, my wife's and her father's (who she cares for). It's not the end of the world, but whenever the Gov.uk site is needed, 3 user IDs pop up, which are just 12…
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Any tax credits/deductions for child
Hello, are there any tax credits or deductions or similar for the first child if we as a couple earn more than £90k together? Thanks
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Payment of income tax for a child
Can anyone offer some advice please. Fairly recently Martin wrote an article which mentioned income tax is payable on interest received by a child (if treated as their income [rather than parental income] because the capital had not been provided by the parents and was more than available tax allowances) but made no…
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BIK/Salary Sacrifice
Hello I'm looking at taking out an EV through my companys BIK scheme...They have sent over a quote which has a "Gross Salary Exchange " figure and then a lower "Total Cost To Employee" Figure. Does anyone know if a calculator which can, reasonably accurately, calculate what my new take home pay would be each month? I'm…
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Previous Employer Wrong Tax Returns Submitted
I left a company I’d worked for for nearing 10 years in sept 2021. This year they have made several entries of income and put the end date of April 2023. One of those entries was for a payment of £36k. The tax man thinks I have received this recently and deducted and ADDITIONAL £800 from my pay this month!!! That’s a lot…
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ToR relief Transfer of Residence relief
Moved back to the UK from Hungary in Oct 21 and was issued a ToR relief letter. This provided 12 mths in which to move without having to pay tax on our possessions - tax already paid in Hungary. It is only now that I have found a place to move to that will take the furniture and allow me to rent as a full time worker -…
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Tax Refund-Impossible!
I've overpaid tax and HMRC's website won't pay the refund unless I have a passport or driving licence photo, I have neither so can't get my money back. This must affect thousands of people. What can we do?
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Where to claim job expenses on self-assessment?
I'm a software developer, who works from home and purchases all my equipment, including my computers. According to Buying other Equiment, for tax relief for employees page on the HMRC website, I qualify under all the conditions to claim tax relief. The website also mentions if claiming more than £2,500, it must be done…
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How can I get out of sending self assessment?
I used to have a BTL and did my self assessment. I sold this two years ago and have no additional income but every year HMRC send me a letter making me do a self assessment. Every year I declare I earn below income tax but yet I keep being made to do it. How can I get them to stop making me do this for no reason?
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About to hit 40% bracket - or am I?
Hi - looking for some advice from a tax expert or someone in a similar position: I work full time and earn a salary for that, however I am also in receipt of a military pension that I also receive each month. The combined total of them both is currently under the 40% bracket, but my next pay rise (due in August) will push…
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Rules on gifts of up to £250
Hi My grandad would like to gift some of his money to his family. I'm aware gifts of up to £250 do not need to be declared to hmrc. Could he gift the same family member £250 per week (or however often he feels) and for those gifts to still be tax exempt, or could he only gift £250 once to one individual in a tax year?…
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Tax question
Hi MSEs, I am currently employed as payee and on the higher band rate. Basically an opportunity to do some private work came during my holidays. Having completed it, few £k worth. I have invoiced them. The question is how do I pay tax on this, they also gave me £35 a day for travel and meals. I don’t have my own business…
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CGT on renting inherited property
Hello I recently inherited a house from my poor late dad I decided to keep the house and I have spent about 65k refurbishing the entire house. My plan is to rent out the property. I live abroad, however. I have no other houses in the UK However, I was recently reading about possible future CGT. I've just been reading…
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Dividend Tax
What are the annual allowances for this please? Does this count as to claim tax relief on charitable donations? How do the HMRC get to know how much dividend on shares i get every year does my broker inform them? I do not file a tax return as my pension income is below my annual allowance and my SIPP provider administers…
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2 Directors = 2 Employees, Ltd Company, Private Healthcare?
Hi My wife and I are the sole employees and directors of a limited company. We are approaching our 50s so have started to think about getting private healthcare insurance. Is there any benefit or possibility of arranging this through the company to either save some tax or money? Is there any advantage of trying to do it…
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Tax allowance in retirement.
My wife and I have been retired since last year. I have an Armed Forces pension on which I pay tax. My wife has a local authority pension which is relatively small (and was drawn early) and she pays no tax on it. I am due my State pension next year, but my wife is not due hers for another 7 years. I'm almost positive we…
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CGT on UK property form using Spousal Transfer
Hoping someone can please guide on how you fill in the online forms for UK property CGT when using a spousal transfer Under property acquisition if I put the date and market value of spousal transfer then there is nowhere in the form to record the original purchase price. I can upload a letter under tax owed explaining the…
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Interest-free loan to relative abroad. Tax implications? Need to declare?
I will need to lend some £8-10k to my mom to pay off a bank loan with a high interest rate. She lives abroad and is not and has never been a UK resident. I would lend her the money interest-free and, as far as FX fluctuations are concerned, if it goes in my favour I will let her keep the upside and if it goes against me I…
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How to make the most of the Tax I pay
A little off topic, but still tax related... I work full time but do a little freelance on the side, meaning each year I also complete a Self Assessment. I have some very helpful Accountants who do this for me for peace of mind. This year I had quite a shock when my SA tax bill was 5X more than last year. While I was doing…
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Rental Property in a Ltd Company
I have a question. If I lend my company say 100k and then buy a property with the money and then rent that out, what would be the best way to get the rental profits back? If I charge the Ltd Company interest do I have to then pay tax on the interest I am getting? Or should I just take a dividend and pay the tax there ? or…