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Related UK Tax Questions
Have just received notification of my second works
have just received notification of my second works pension,which I have been receiving for 20 years and find a tax code of K90 and a deduction of £70.40. I have never paid tax on this pension before, … read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,335 satisfied customers
I am becoming increasingly confused by the pension LTA. My
I am becoming increasingly confused by the pension LTA. My wife and I have separate pension arrangements and we had both thought the LTA to be a limit on the tax free amount of contributions made by u… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi Tony, I have a client who has a gain and tax to pay at 40%
Hi Tony, I have a client who has a gain and tax to pay at 40% on a gain on a UK Life Assurance policy. No Top Slicing Relief available (only 1 year in box 5). She has also made a Case 1 Loss on her se… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
My husband has been offered voluntary severance of £230,000
My husband has been offered voluntary severance of £230,000 after 35 years in public sector. He could give up £100,000 and take enhanced early retirement but he expects to take up another paid employm… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
SMP Pay and dismissal If someone is called in and dismissed
SMP Pay and dismissal If someone is called in and dismissed whilst on SMP. I understand the SMP still has to be paid. What about the pension and private health, should this continue whilst she is stil… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
umbrella pension trusts ..... valid way of extracting funds
umbrella pension trusts ..... valid way of extracting funds from your pension pot before 55 years of age ... or just a scam, that in addition to the 15% fees also results in income or capital gains ta… read more
UKSolicitorJA
UKSolicitorJA
Bachelor's Degree
13,508 satisfied customers
My employer can offer me a workplace nursery so I can salary
My employer can offer me a workplace nursery so I can salary sacrifice the total cost of my childcare each month @ £439.88 How can I work out my new net salary as I will be better off than being restr… read more
Gareth Peyton
Gareth Peyton
Senior Tax Manager
Bachelor's Degree
6 satisfied customers
I am trying to work out whether it is a good idea to take my
I am trying to work out whether it is a good idea to take my trivial pension lump sum, certainly all I have read and received advice is that is the way to go. The pot is just over £10k, so I could tak… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I am currently letting my original family home in Edinburgh
I am currently letting my original family home in Edinburgh and living and working in glasgow with my new partner. We are not married but bought a house together. My home in Edinburgh is therefore not… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
I have just received today a P800 for underpaid tax, pertaining
I have just received today a P800 for underpaid tax, pertaining to 2008/2009. I had a PAYE income of £12529 and Incapacity Benefit of £3969. I had paid £1576.80 tax. The underpayment is for £559.38. I… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I am due to recieve a severance payment of which 30,000.00
I am due to recieve a severance payment of which £30,000.00 will be tax free. However, the remaining amount will be subject to tax at 40%. I want to reduce my tax liability and believe that if I pay t… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
My employer has offered me a lump sump payment of 160000 as
My employer has offered me a lump sump payment of 160000 as an exit package subject to a compromise agreement - How much tax would I pay on this lump sum offer… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
I have taken VS from my employer. However, the loss of office
I have taken VS from my employer. However, the 'loss of office' part of my severance will not be paid until after April 6th. Due to new tax regulations I understand that I will be liable for 50% tax o… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
I am hoping to take Voluntary Eary Retirement, have been waiting
I am hoping to take Voluntary Eary Retirement, have been waiting for an answer from my employer for a few weeks My pension is Lump sum £36, 000 with an annual pension of £12, 000 pa, also a lump sum o… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
From 1st December 2009 there will be a change in the rules
From 1st December 2009 there will be a change in the rules re Trivial Commutation of pensions for those aged between 60 and 74. Payments of up to £2,000 can be made, subject to certain conditions. Que… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
My husband retired form the army 5 years and was getting about
My husband retired form the army 5 years and was getting about £535 a month pension. This is now being taxed and is reduced by about £200. We cant understand why as he only gets about £15, 400 a month… read more
Andrew Baker(baktax)
Andrew Baker(baktax)
Personal Tax Adviser
High School or GED
756 satisfied customers
My father is 90 years of age. He has a personal pension of
My father is 90 years of age. He has a personal pension of £22,000 + state pension making total pension approx £30,000 pa. His monthly tax is around £400 and he has had additional tax demands for £600… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,709 satisfied customers
Dear Sir, I am sending you this query in the hope that you
Dear Sir, I am sending you this query in the hope that you can help me with the situation I now find myself in. Several years ago in 2000/2001, I transferred some money out of my old works pension sch… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
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