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I took out £15,000 from my pension scheme in april, and have
Hi Tony, i took out £15,000 from my pension scheme in april, and have now found that i didnt have sufficient tax deducted, the HMRC say my code was 8101, since then I've been paying 50 % tax, hmrc say… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I am 66 years old and in full time employment earning approx
I am 66 years old and in full time employment earning approx £60,000 pa. I do not intend to retire for at least 12 months or maybe longer, and certainly not before the end of this tax year. I also dra… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I have a UK SIPP private pension and wish to use some of it
I have a UK SIPP private pension and wish to use some of it to pay down my mortgage as I am approaching age 55. I would like to know if there are any tax benefits from putting more money into my SIPP … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I have a SIPP, not yet in drawdown but anticipate it will be
I have a SIPP, not yet in drawdown but anticipate it will be after age 75 (currently 72). On the one hand HMRC says 55% tax recovery will apply to any residual lump sum in the SIPP paid out to benefic… read more
TaxVince
TaxVince
Accountant
Master's Degree
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I shall be retiring end Mar 2013. In addition to a reasonable
I shall be retiring end Mar 2013. In addition to a reasonable work final salary pension I have two small investment pension accounts each worth about £35,000. I would prefer to take them as cash rathe… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I have a company Share portfolio and I am about to reach my
I have a company Share portfolio and I am about to reach my maximum Dividends of £1500 before paying 40% tax on everything over £1500. How best could I move the shares to avoid paying the additional t… read more
TaxVince
TaxVince
Accountant
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I am starting anew cntract which will give me a lump sum
I am starting anew cntract which will give me a lump sum bonus at the end of each year. I will be paying tax on paye for my basic pay. How do I manage the tax liability for the lump sum and avoid payi… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Hi - I made a payment of £15K into my SIPP in March 2010 and
Hi - I made a payment of £15K into my SIPP in March 2010 and an automated 20% tax rebate - £3750 – was subsequently paid direct into that SIPP via transfer from HMRC to the SIPP provider, in line with… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,168 satisfied customers
My drawdown pension for the year is £15,356.92, my tax code
My drawdown pension for the year is £15,356.92, my tax code is 234L, how much tax should I pay? I have only received £7,451.92.… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Hi. I am a higher rate taxpayer, paying 40% on the top slice
Hi. I am a higher rate taxpayer, paying 40% on the top slice of my salary. I also have a 50% share in a let property. Up to now, rental income has been offset v. costs and interest, but the interest l… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I have a pension in the UK, although I have,lived in the USA
I have a pension in the UK, although I have,lived in the USA for 15 years. I take an amount out every year. Am I liable for PAYE direct at source taxation?… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,168 satisfied customers
I earn a salary via PAYE, I also get dividends from the company
I earn a salary via PAYE, I also get dividends from the company for which I am PAYE with - and additional income as a freelancer from other clients. I incur costs for my freelance business that would … read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
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I have SIPP and wish to take some income shortly i.e. November
I have SIPP and wish to take some income shortly i.e. November 2011. Is my personal allowance affected for tax purposes by taking income later in the tax year. This will be first time I have taken inc… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,168 satisfied customers
UK resident. Aged 62 (sept 2011) PAYE on full time salary of
UK resident. Aged 62 (sept 2011) PAYE on full time salary of £30k per annum that ends Dec 2011 so salary £22500 gross then. . Considering an Option to take deferred lump sum from state pension (via ex… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
2 questions A bonus of x has been declared by my company
2 questions: A bonus of x has been declared by my company in March (old tax year) - which will be payable at 30th April 2011 (new tax year. 1. I presume therefore that it will be accounted for in the … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
hello ,i have a savings account that matures soon,i will recieve
hello ,i have a savings account that matures soon,i will recieve £2,400 in interest,is this figure enough to trigger capital gains tax,i am employed fulltime.… read more
CDF Tax
CDF Tax
Bachelor's Degree
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Have recieved letter with amounts of extra state penssion or
Have recieved letter with amounts of extra state penssion or lump sum payment. Have decided to take lump sum but I'm not sure how it works as regarding tax allowance. Adding up what I would recieve wi… read more
Andrew Baker(baktax)
Andrew Baker(baktax)
Personal Tax Adviser
High School or GED
756 satisfied customers
I have some unapproved stock options maturing next year. if
I have some unapproved stock options maturing next year. if I exercise them I will be liable for income tax, employers and employees NI. Is there some way I can get my SIPP to take the shares and if s… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
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