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Where Taxpayers and Advisers Meet

Search found 61 matches

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by D&C
Mon Apr 08, 2019 8:03 pm
Forum: Income Tax
Topic: self assessment woes- help please!
Replies: 4
Views: 202

Re: self assessment woes- help please!

Should have been

Although banks have stopped deducting tax from normal deposits they do still deduct tax from the interest element of PPI payouts. Not sure if this is the type of income the op is referring to but it might be.
by D&C
Mon Apr 08, 2019 8:02 pm
Forum: Income Tax
Topic: self assessment woes- help please!
Replies: 4
Views: 202

Re: self assessment woes- help please!

There is no "allowance" for interest. Some (or all) of the interest may be taxed at a 0% tax rate but that is different to there being an allowance. You have to declare the £1,224. darthblingbling Although abnak have stopped deducting tax from normal deposits they do still deduct tax from the intere...
by D&C
Sat Mar 30, 2019 12:51 am
Forum: Income Tax
Topic: Marriage allowance - HMRC confused
Replies: 35
Views: 1521

Re: Marriage allowance - HMRC confused

I think you have resolved this now. The HMRC staff dealing with this appear to be unaware of how their own systems work. Gift Aid is added to the PAYE system as a net figure whilst personal pension relief (a relief at source payment) has to be grossed up first. Presumably having both things to enter...
by D&C
Sun Mar 24, 2019 9:41 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Tax anomaly and HICBC
Replies: 5
Views: 418

Re: Tax anomaly and HICBC

Your salary is completely irrelevant as far as the High Income Child Benefit Charge is concerned. You need to read up on "adjusted net income". But the 14th payment is just additional pay in 2018:19 so if this you over the limit for HICBC then you will be liable You should also be aware that to avoi...
by D&C
Sat Mar 23, 2019 7:09 pm
Forum: Income Tax
Topic: BTL & Self-assessment
Replies: 2
Views: 195

Re: BTL & Self-assessment

If my husband were to register with HMRC as a sole trader, with property management as his business - I am assuming this would release me from having to submit self-assessments in the future. Is that right? What so no one needs to declare the rental income? You might think about getting professiona...
by D&C
Sat Mar 23, 2019 7:06 pm
Forum: General
Topic: Electric company car with private use
Replies: 2
Views: 246

Re: Electric company car with private use

As your family has "just died" what are you doing about the 2019:20 tax year due to start in a couple of weeks?

Waiting until 2020:21 seems a long gap.
by D&C
Tue Mar 19, 2019 11:11 pm
Forum: Income Tax
Topic: Income tax + CGT
Replies: 4
Views: 266

Re: Income tax + CGT

Let's start with the income tax. Nothing you have posted suggest that you have any allowances other than the Personal Allowance (or a reduced Personal Allowance) which will be relevant. But based on what you have told us your normal income tax liability will be £0. I've calculated that by 5 April I'...
by D&C
Tue Mar 19, 2019 10:54 pm
Forum: International Tax
Topic: Confused Dinosaur - Emigrating/ Retiring to Israel
Replies: 2
Views: 244

Re: Confused Dinosaur - Emigrating/ Retiring to Israel

I'm not sure this is really appropriate for advice/suggestions from what are often anonymous posters.

Looks more like one for paid for (independent) financial advice
by D&C
Tue Mar 19, 2019 10:48 pm
Forum: Income Tax
Topic: Personal pension contribution
Replies: 1
Views: 142

Re: Personal pension contribution

Could you enlighten us with the tax year in question? But realistically the answer is no you cannot do what you want. But you probably do something similar which will achieve the same end result. Contributions to a personal pension do not usually reduce your taxable income and even if they did it wo...
by D&C
Fri Mar 15, 2019 9:40 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: how can I see what savings interest figures HMRC holds for me
Replies: 18
Views: 1163

Re: how can I see what savings interest figures HMRC holds for me

I don't want to disappoint you but I really cannot see you have got a case to use ESC A19. What tax bill for 2016:17 are you trying to get HMRC to waive? You seem to be massively overthinking this. You have received a calculation for 2017:18 which you disagree with (because of the interest details)....

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