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Tax relief on private pension contributions
Hi At the beginning of the year HMRC informed me that due to some of my income being subject to 40% tax I owed approx £2.5k payable in the last 3 months of this financial year. I was delighted to read on Unbiased.co.uk that I can reclaim the extra 20% tax relief up to the amount I paid higher rate tax on as I had…
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Happy new year from HMRC ...
Received a message to say I owe approx £2.5k in unpaid tax, which HMRC would like repaid over the next 3 months of FY 24/25. There is an option to contact HMRC if I cannot afford this. Is there any advantage in asking for more time to pay. My initial feeling is to just sort this out in this FY. Any thoughts appreciated.…
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Any advantage in putting all (most) eggs in one basket?
I've got a S&S ISA with Vanguard and a SIPP with Fidelity. I've read on this site that it is possible to buy a wider range of Vanguard products via Fidelity - so I guess it would be less admin for me if I transferred to Fidelity. Are there any other advantages? I suppose the big disadvantage would be if Fidelity took a…
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Over paid into pensions Confusion with annual allowance roll over
Haven't posted for some time but am an avid reader and by reading a random post on this forum I've suddenly realised that I have paid more into my pensions than I have earned. I got confused with rolling over the annual allowance from previous years, so it looks like I overpaid in FY 21/22 by approx £14K, and FY 22/23 by…
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Another quick query on £40K Allowance
To work out the amount that I can contribute to a SIPP - after salary sacrifice, do I deduct tax and NI contributions from my gross annual salary, or is it deduct tax only? I thought I understood this from a previous thread I posted but .... er not exactly now I come to work out how much I can carry over from previous tax…
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£40K allowance
Hello - apols for such a basic question I am a basic rate tax payer, this year thru salary sacrifice I am on target to pay in approx £34K to my DB and DC work pensions. Does that mean I can open a SIPP and pay in a further £6K? Also I probably paid in a similar figure into my pensions last year so could I carry over say…
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Old personal pension
Sometime in the 90s I paid into a personal pension for approx 4 years then left it -I also transferred in a small pension. Altogether the transfer value is about £22187 as at August 2018, broken down like this: £4,276.04 protected rights £8,856.83 pension transferred in £9,055.55 personal pension - with monthly charge of…
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S&S ISA or SIPP?
Is it more efficient to put say, £20K, into a SIPP or is it better in a S&S ISA. (I would be able to withdraw from the SIPP in a few years if I really had to so not an issue). I do not already have a SIPP. Also does a tax free redundancy payment count as income in order to put this into a SIPP this year - my taxable income…
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Stress testing investments article
I read this article in Moneywise which seems to be in agreement with some of the comments made by the experienced investors in this forum. https://www.moneywise.co.uk/investing/stocks-shares/stress-test-your-investment-portfolio-bear-market I thought it might help others including newbie investors like me. SB
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Confessions of a late, later investor and a question
After years of Cash ISAs, I decided to take the plunge and do the S&S isa thing this year which resulted in purchasing Vanguard S&P 500. The reason for the USA market, was that after checking my paperwork properly it seemed that I already had a L&G UK Index Trust from 1998 and a Santander UK Growth Unit Trust from 1999.…
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What do I do?
I feel offended. Yesterday I attended the funeral of my brother who had died after a terminal illness. He had 2 children (one is under 18) from an ex-partner who I have always given credit to for doing such a good job on bringing up the kids on her own. My brother has left around £50K (plus some other assets) before debts,…
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Shall I ask for money back?
I'm in a bit of a dilemma, am I greedy or am I being fair? Some years back I lent a friend some money to avoid their car from being repossessed. They said they would pay me back when they had the money. They had debts etc and at the time I said OK, don't worry about it, I'm not desperate for the £, so it was a case of "as…
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Cassette player - is it possible to fix
I'm almost embarassed to post on this forum as my query is a bit far from "techie" but trust someone will point me in the right direction please... Call it reliving my youth but I wanted to play some of my cassettes, I have a big ol' Hitachi ghetto blaster, radio is fine but cassette does not work, the wheel thing does not…
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1. removing paint from glass
1. Are there any special tips to remove paint from glass. My front door has 12 narrow panels in it which have been painted over the years. So far I have done 6 with a paint scraper off-er - y'know a plastic handle with a blade at the end. This is v. hard work and the plastic handle thing seems to be breaking. Is there any…
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Disability shower
Hi We have a disability shower and surround in the bathroom of a property I intend to rent out. There is also a separate bath. The shower is a good Mira shower - no problem. But the surround is a kind of gate system (I hope people understand what I mean by this) which allows the user easy access. The shower is a rectangle…
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How to decorate for rental
Hi I'm buying my late parents Victorian house in London (with my sister). Needless to say some of the walls have seen better days. We intend to do up the house a bit and then rent out - selling maybe in 3 years. My dilemma is this, should we spend the £ now, replaster walls in about 3/4 rooms or just patch up and repaper…
