Other tax issues
Welcome to our other tax issues guide. We hope that this section will help you understand other tax matters, including savings income and property rental income.
How do I use the website?
The website of the Low Incomes Tax Reform Group (‘LITRG’) is divided into a series of ‘Tax Guides’, including a ‘Tax basics’ section and various other sections that provide more detailed information relating to specific groups or tax issues.
This section covers other tax issues.
What can I find in the other tax issues tax guide?
In this section, we provide information and help on some other tax matters to encourage you to try and solve any tax problem that you may have. Even if you do not have a ‘problem’ we hope you find this section useful and informative as its always a good idea to be able to understand and manage your own tax affairs.
In particular, we provide information on the following areas of taxation for the individual:
savings and tax – from April 2016, a new system of tax applies to savings and dividend income meaning most people will have no tax to pay. In addition, bank and building society interest is no longer taxed before you get it. Some other types of savings income might still have tax taken off before you get it. Here we tell you about the new rules.
- non taxpayers – for tax years up to and including 2015/16, tax was deducted from your bank and building society interest at source. This section looked at how non-taxpayers could prevent this from happening by using form R85. The new rules from April 2016 mean that form R85 is now obsolete. This section is retained for information only.
- property income – there is also income from land and buildings – rental income from properties.
- capital gains tax – you may have to pay capital gains tax when you sell assets and make a profit. We explain how a charge to capital gains tax might arise and – most importantly – list the many different assets that are exempt from capital gains tax, such as cars.
- council tax and rates – this section gives an outline of the primary ’local taxes’ in the UK. Money collected from these taxes goes to local authorities (councils) to pay for local services such as maintaining parks, collecting rubbish, policing and personalised care.
- giving to charity – certain payments you make are allowable as relief against income tax. Donations to charity are one such payment and we finish this section by looking in more detail at the rules for charitable tax relief.
If you do not think we have covered what you wanted to know, or you would like to tell us of your experiences so that we might learn and try to get things changed then please do contact us.
Where can I get more help?
If you want more information on any of the following areas, you can find it elsewhere on this website:
- tax basics – information on tax allowances, tax rates and how to claim tax back;
- employed – how to check your coding notice, as well as looking at employment expenses and benefits;
- self-employment – how to work out your profits and losses;
- pensioners and tax – tax on, and during, retirement;
- bereavement and tax – tax issues arising on death for the deceased, their estate and surviving family;
- migrants and tax – tax issues for migrants, including residence and domicile;
- disabled people and carers – specific tax issues and pointers;
- tax credits and benefits – help to ensure you receive the appropriate credits and benefits;
- armed forces and tax – provides serving personnel, verterans, their families and their adviser with access to information on how to deal with the tax and benefits issues faced by them.
LITRG also has other websites that you may find helpful, including:
- Tax Guide for Students – tax information for students, including employment issues and student loan information;
- Disability Tax Guide – information primarily aimed at people who take on personal assistants/paid carers and those assisting them;
- RevenueBenefits – supporting information for advisers who get involved in HMRC-admistered welfare benefits, and National Minimum Wage; including transitional information for the move of tax credits to universal credit.
HM Revenue & Customs (HMRC) manage the UK tax system. You can find their contact details on the GOV.UK website.
Throughout this site we can only offer general guidance on tax topics and you should always obtain specific advice before taking any action. You can find out where to get specialist help in our 'getting help section'.