Hello A quick question please. An individual earns £80k in the tax year and has no other income. Additionally they receive a £30k tax-free redundancy payment. Does this redundancy payment, by taking them over £100k, cause clawback of personal allowance? ... Continue Reading
Hi, I’m one of many beneficiaries to an estate of final value around £1.5 million. The estate was originally valued at around £2.4 million and part of the IHT was paid. The property was eventually sold 4.5 years after death and the true estate final value ... Continue Reading
I can't understand the HMRC tax calculation. I moved into higher rate for a small amount of tax from last year now when it says I have to pay 20% tax on £38,524 this seems odd as the difference between 20% and 40% is only £37,699. It just doesn't seem to make ... Continue Reading
My wife opened a Nationwide building society account in Nov'24 with some inheritance money. She closed it in May'25, triggering around £1,500 in gross interest. Realising her personal savings allowance allowed only £1,000 per year, she contacted HMRC and was ... Continue Reading
Hello all I have been a long time lurker on this forum but this is my first post. I have been unable to find information on Google unfortunately. I am a UK resident since 2015 but born and raised in Italy (now have double citizenship although am aware this is ... Continue Reading
My father (80) and his wife (married 2 years) (79) have made their wills leaving everything to me. They are Ireland residents who own their own home (no mortgage) with an approximate value of £450,000. In addition, they have circa £250,000 savings and no debts. I ... Continue Reading
I read that from 2027 "the Government will charge customeres tax on the iterest from a Cash Holding in a Stocks and shares ISA" I am in my 80s and currently have c £150,000 Cash in my Share ISA producing c£5,000 pa interest. The money represents some excellent ... Continue Reading
Dear All, I hope this is the right forum to post this. If not please advise a better location. The situation is. Jewellery manufacturing and retail business started in 1980s as sole trader partnership. My wife and myself. My long term, but recently diseased Accountant ... Continue Reading
