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Cutting Tax: Discussions that will help you
To help you find the Cutting Tax threads quicker and easier we're collating our previous sticky/pinned threads into one single post. Cutting Tax board: Tax instructions - please read Useful Websites TaxCalc alternative? How does the Taxman Know? Inheritance Tax Planning Useful Tools to Help With Taxes Washing Uniform at…
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Inheritance tax question - Gift from Dad
Morning all, Looking for inheritance tax advice. Father is 82 but in very good health. Mother died circa 10 years ago. He has owns his own property outright worth ~£300k He has a significant savings fund of circa £290k and some small savings pots or circa £50k. So his total estate is above the £325k threshold. He has…
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Higher rate tax payer
Silly question… please educate me. If you are able to reclaim tax at a higher rate for something if you are a higher rate tax payer, is the amount you can reclaim limited to the amount you earn over the basic tax bracket? So, for example, if (through salary sacrifice pension or other things) I was a higher rate tax payer…
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Follow-up: comparison of UK take-home calculators (pension + student loan handling)
A couple of weeks ago I asked about simplicity vs completeness in take-home calculators and received some helpful pushback — particularly around pension mechanisms and student loans. I took a step back and benchmarked some of the web-based calculators mentioned for 2025/26 to see how consistently they implement: NET pay vs…
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Wrong tax code overpayment
I have just looked at my March pension figure on my personal tax account which was posted today. Even though it is paid on the 28th of the month it is generally submitted to HMRC in the first week of each month. The tax deducted was way above what I expected so I contacted my pension provider who said my tax code had been…
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Pension Tax Relief on Rental Income?
I want to reduce the tax exposure of my rental income for the next few years and wanted to explore the possibility of using my existing pension or a new SIPP to do this. I currently am employed full time on a salary of ~£83,500 - and around £53k is being sal-sac'd into my employers Master Trust pension scheme. My net…
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Milage rates applicable for a private and company car
I have received conflicting guidance and would be grateful for advice. Current situation: - I get paid a car allowance from my work (in addition to my salary) and this is taxed. - I use my privately owned car for travel demanded of by my job (I’m not including commuting to my place of work in this). - It is an electric car…
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Are UK take-home calculators too complicated?
I’m trying to understand whether people prefer simple tax calculators or detailed ones. I built a stripped-back prototype to explore this and would appreciate critique. Thanks in advance.
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Have I misunderstood the 'marriage tax allowance'?
As above When I was completing our online tax returns last night, I looked into the above. Therefore, the benefit of marriage is - saving about 200 in tax a year
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Question re. Capital Gains tax after inheritance
Hi all, My Mum passed away a few months ago, leaving an estate worth around £560k (House = £220k, savings = £340k). No IHT was due as all of my Dad’s unused IHT allowance was passed on when he died a few years ago. The estate has been left to me & my brother, who are both executors. We’ve agreed between us that I will…
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Tax free child care - change in circumstances
Some advice please I 'claim' tax free child care to pay for breakfast and after school clubs for my kids. I do the quarterly reassessment as required, last completed in Jan Due to an unexpectedly large bonus due to be paid March this year my 25/26 income will be 100K+ …… each time i filled in the declarations i was honest…
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cgt on saye
When transferring[hopefully] saye proceeds soon to an ISA, can I first withdraw the original amount paid in, which would not be liable for CGT anyway? this would simplify matters when I later transfer other sharesave to the isa
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savings interest - how accurate?
HMRC has grossly overestimated my savings interest for the currect tax year, and hence for the tax code for next year. Soon I shall need to advise them of the correct figures. How accurate do these need to be? Do I need to include pence, or just whole pounds (and if the latter do I truncate or round)? Should this apply to…
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Ignorant question about savings interest and tax returns
Having always worked in the public sector, for a modest salary, I have never done a tax return in my life until very recently, when it became necessary due to becoming an accidental landlord. Most of my income is occupational pension taxed at source. If I have money in savings accounts on which I earn interest, am I…
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Inheritance tax interest
Hi all We'll be making our 2nd IHT instalment at the end of March. Then, hopefully by the end of April(ish) the house sale will go through and we'll be able to pay off the remaining £150kish. My question is about how the interest is applied. We'll be paying around £15k interest on top of the instalment amount in March,…
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How to reduce tax as much possible on rental income abroad?
Hello, I am UK resident but I have rental income from abroad, exactly Malta. I earn 15.700 GBP a year (more or less). According to the Maltese Law, I can choose to pay flat rate 15 % on rental income in Malta. But then, is there anyway to reduce what I will have to pay to the UK tax? I am self employed. As far as I know,…
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How To Claim Backdated Marriage Allowance
How to claim my backdated Marriage Allowance for previous tax years which I did not receive? I would like to know how to contact HMRC to receive my backdated Marriage Allowance which is sitting in my account for many years, Please. Thank You For Your Help!
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Charity Donations and Inheritance Tax
I am one of 6 benefiiciaries in a will, where the estate is divided equally between 3 family members and 3 charities in equal shares. Am I right in thinking that the estate will not attract IHT becuase the deceased, ( my relative) was a widow without any children, and has her husbands NRB plus the three charities? The…
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HMRC - can't submit my self assessment .......... not receiving access code on my mobile
Firstly I'll say that I have submitted an online request to HMRC's technical team via an online form, however as they can take 48 hours to reply I thought I'd ask about this here ..... after all, this fiasco could go on for ages. It's the HMRC after all .......... To explain: Today I logged in to submit my self employed…
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Cutting tax ahead of end 25/26 tax year - check calcs
Hi all, I would just like a sense check of my calcs please. I've laid these out in the same way as the self-assessment calculation. Pay from all employments £ 53,100.00 Interest from UK banks, building societies and securities etc £0.00 Dividends from UK companies £ 11,344.80 Total income received £ 64,444.80…
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Inheritance Tax
My mother has inherited £450,000, but wants to gift the money (after a house sell) to my sister and myself. Is there any reason to pursue to cut the IHT due or is it like death, Inevitable….
