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Tax return and allowance for year of death
My dad died early in the 2023-24 tax year. My mum is still alive. They both had to do tax returns - due to foreign income - which I have done for the last 5 or so years. Based on their income dad had to pay a bit of tax but as they were married decades ago they could transfer mum’s unused allowance to dad and there was…
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Error on HMRC calculation on old fiscal year
Hello everybody, I am wondering if you are aware of any issue with HMRC data recently. In the tax year 21-22 I changed job few times and one of my company did messed up with my tax code. I had to repay HMRC 7K more or less of unpaid taxes. That calculation was correct and I repaid everything correctly by December 22. in my…
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Tax on savings interest and the PSA (Scotland)
My question is about higher rate tax, pension contributions, and the personal savings allowance. Sorry I know that similar questions have been asked many times, but I can't get my head round it at all. I'm a Scottish higher rate taxpayer. For round numbers, let's say I have £51k income from employment + £2k savings…
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First time self assessment and needs a paper form
A friend of mine will need to do a self assessment return for the first time in their life and we have a couple of questions as it's been many years since I've needed to do one.1) What is the best way to get a paper version of the SA100? The webpage says that you have to phone and ask for one, but I wondered whether my…
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What will my tax be when renting my property (links to Tax Calculators appreciated)
Hi there - reluctant landlord here - I moved in with my partner and now renting out my flat. I've been looking online and various landlord tax calculators have been giving me different figures. Just wondering if anyone here can help me figure this out, or point me in the direction of a decent landlord tax calculator.…
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Non Coded Income - revived thread
Re - https://forums.moneysavingexpert.com/discussion/5980536/non-coded-income The above and other related threads have been closed, though no indication if the OPs and others got their NCI removed ? A few years ago we found we had some NCI showing and spoke to the tax office and the guy could not say what it was, even…
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How to pay a non self assessment retrospective tax bill for 2020/21
In my personal online HRMC account I received the message below on the 1st February this year stating that I owe some tax for the year 2020/21. I accept that I owe this money (for untaxed interest) but cannot figure out how to pay it. If at all relevant, I did not fill in a self assessment form for this tax year. I have…
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ESA & TAX
I receive contribution based ESA from July 2023. I received £259 every two weeks on the support group . I also had £20,000 per year rental income . I know I need to pay tax in the rental but do I pay tax on the esa , is so how do I do it . I have logged onto my HMRC account and it says ESA income £0 .
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Tax situation on housekeeping money for a couple that re not married.
With all the various tax allowances for married and civil partner relationships I am curious to know what is the situation for couples that are not married where one partner gives money from their salary to their other half for housekeeping, the other half not working and taking a small work pension of e.g less than £100…
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HMRC portal says tax paid is correct for 2023-24
I retired one month into the 23-24 tax year and now have a civil service pension. I believe that have paid about £3k too much tax, but the HMRC portal says it is correct. There is no access to a detailed breakdown other than for 24-25 (where the estimate is only 50% of the sum I paid up to end March 2024 - so likely to be…
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Overpaid on Tax
In the last few years, I've been doing some consultancy work outside of my part-time employment role. It's a fixed term, two year project and it was agreed I'd be paid £20k day one, £20k after 12 months and £18k at the end of the project. They have agreed to split the final payment to March last month and later this month…
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Starter rate savings allowance £5000, a little help please...
Can anyone please advise if I've understood this correctly as I think I might have got myself a little confused?! Thank you 2023/2024 - basic rate tax payer, £12570 salary, £1500 savings interest (non ISA) = total income £14070. no additional tax due? dividend income £18000, tax due on £17000 @ 8.75%
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Working out net pay with BIK & salary sacrifice
Hi all Please can someone tell me if I am working out my net pay correctly. My employer does not payroll BIK so I get a P11D with company car valued at £5,589 and medical at £437, so a total of £6,026). Salary £55,237 8% Pension salary sacrifice £4,419 Taxable pay £50,818 Personal allowance £6,544 (tax code 654L - £12,570…
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A simple guide for CGT liability on GIA please?
Hi all. I'm a slow learner, so please be kind as it appears CGT is simple to understand. I've searched around looking for a dummies guide, but can't find one. A few examples in my head and say 3K is the limit now. I put 100K in a GIA and buy 4 different units 25K each. In 4 years time GIA is say 140K Units value is 50, 50,…
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Non tax payer
My wife had to stop work in 2022 due to ill health, and is unlikely to be able to go out to work again because of her condition, she had been self employed for quite a few years and has another four years before she will get her state pension. there is a minefield ahead for her to go through the benefit system having never…
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Marriage allowance, what upper income is actually used calculate eligibility
I wonder if anyone can help? I would like to know what "income" the marriage allowance is actually worked out on. My husband income is technically over the £50270, but with various things, pension contributions and a few tax reliefs things(WFM Gift aid etc), he only get taxed at 20%. Can I transfer the Marriage allowance…
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Timing of tax payments
I want to confirm something. I receive all my income gross and therefore pay tax on self=assessment. In 2024/25 I will have a one time significant increase in income. For 2024/25 I would normally pay my tax on 1 January 2025 and 1 July 2025 with a balancing adjustment on 31 January 2026 for any over/underpayment. The…
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Capital Gains Calculation
Hi A quick question (hopefully). I bought my house with my ex-husband in 1998. We've since divorced and a new mortgage taken out on the same property with my now husband in 2007. Which date should we use for the capital gains tax calculation? Or do we use the earlier date for me and the later date for my husband?
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National Insurance
Trying to help out my daughter but not getting very far with HMRC or the accounts department that pay her wages. When I used online calculator on the web site (lives in Scotland), 22 year old. It says she should pay £390 N.I. however she has paid £622.35. I know the first £1048 every month is deducted from gross pay the…
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IHT: Adult child living in parents' home
An adult child lives in a home owned by his/her parents. The parents would not dream of charging the child rent or demanding compensation for household expenses or food. Furthermore, the parents say, "You are free to use our car when we are not using it". Out of interest, is there an IHT position on this?