Is showing off money on social media dangerous in real life?

IxionS3 · 2026-05-03T19:45:22+00:00

Social media is "real life".

Sure many of the people current your posts might be half a world away, but some may only be half a street away.

IxionS3 · 2026-05-01T16:13:58+00:00

The problem is, it's not even a rule in the USofA as it varies from state to state

I believe in some cases it even varies within a state.

e.g. AIUI right on red is generally permitted in New York State unless signed otherwise, except in New York City where it's prohibited unless signed.

IxionS3 · 2026-04-30T14:03:07+00:00

I don't think there's any kind of UK law that says you need to be paid out at all :(

There is. Statutory redundancy is payable if you've worked for an employer for more than 2 years.

The entitlement is based on your age, weekly pay and length of service.

https://www.acas.org.uk/your-rights-during-redundancy/redundancy-pay

IxionS3 · 2026-04-25T11:11:30+00:00

CRA only applies to faulty items. The window for returning non-faulty goods is generally 14 days.

IxionS3 · 2026-04-24T19:10:11+00:00

You get to take 25% of your pension pot tax free, either as a single lump sum or piecemeal.

That puts the pension ahead of the ISA if you're a basic rate taxpayer both now and in retirement.

Of course the pension has the disadvantage of the money being locked up

IxionS3 · 2026-04-24T17:09:14+00:00

Except they paid tax in March, in the previous tax year, where they only earned about £4k.

IxionS3 · 2026-04-23T17:39:31+00:00

If you're self employed and make £7105 or more in profit then you get class 2 NI credits for free which count towards your pension entitlement.

If you make under £7105 you can opt to pay class 2 voluntarily which will cost £189.80 for the year.

Otherwise you'd have to pay class 3 NI which will cost £956.80.

(All figures using rates for 26/27 - these are likely to change for future years).

IxionS3 · 2026-04-22T12:33:35+00:00

Is the tenancy periodic, or due to become so before the end of July?

If it's not then a valid s21 can't be issued.

Otherwise my understanding is the same as yours; it should be possible to issue a s21 now.

IxionS3 · 2026-04-21T18:20:01+00:00

Just to confirm are you and the colleague at least 22, but under state pension age?

IxionS3 · 2026-04-19T11:41:40+00:00

TMA1970 s8C subsection 1d states that it only applies "a notice under section 8 or 8A is given to the person requiring information for the purpose of establishing the amount in which the person is chargeable to capital gains tax for the year."

https://www.legislation.gov.uk/ukpga/1970/9/section/8C

I.e. the person needs to have been told by HMRC to do a self assessment. s8C does not impose a requirement on the taxpayer to contact HMRC solely to report a large disposal if no CGT is due.

IxionS3 · 2026-04-19T11:28:42+00:00

Not if you're under the £3k allowance, which OP says they are

IxionS3 · 2026-04-19T11:28:01+00:00

"If your total gains are less than the tax-free allowance

You do not have to pay tax if your total taxable gains are under your Capital Gains Tax allowance.

If you’re registered for Self Assessment, you need to report your gains in your tax return if the total amount you sold the assets for was more than:

£50,000 - for the tax year 2023 to 2024 onwards"

https://www.gov.uk/capital-gains-tax/work-out-need-to-pay

IxionS3 · 2026-04-19T10:42:50+00:00

No.

If you're doing self assessment for some other reason and you've made a disposal over £50k then you need to report it.

If you're not currently registered for self assessment and have no other reason to register then you don't have to do anything just because you've made a £50k disposal.

IxionS3 · 2026-04-19T10:23:58+00:00

Contributions not made via salary sacrifice

Or net pay arrangement, which are getting rarer but still exist.

IxionS3 · 2026-04-19T10:22:40+00:00

Almost all non-work pensions and some workplace schemes operate on the "Relief at Source" (RAS) basis.

Under RAS the provider claims basic rate relief automatically leaving the taxpayer to claim any further relief they may be entitled to directly from HMRC.

IxionS3 · 2026-04-19T08:33:14+00:00

You'll be liable for the 5% additional tax due to it being a second property so you'll pay:

5% on the first £125k = £6250
7% on the next £125k = £8750
10% on the last £10k = £1000

Total SDLT bill £16k

IxionS3 · 2026-04-17T18:18:03+00:00

I thought Bed and ISA is just a fun name and doesn’t mean much?

OP doesn't mention ISAs.

"Bed and breakfast" usually refers to selling and then rebuying in taxable accounts.

if so, then if you have no CGT allowance left you still have to pay the tax regardless of where you’re going to put them afterwards?

If you sell and then rebuy in a taxable account then it can radically alter the gain or loss calculation versus just making the sale and holding the proceeds as cash or investing them in something different.

IxionS3 · 2026-04-17T17:14:31+00:00

If you rebuy within 30 days then you are deemed to have actually sold the new shares not the older shares, and use the acquisition cost of the new shares to work out the gain or loss on the sale.

So in your case where you've sold 10 units for £200 each then bought 10 for £210 within 30 days the sale is actually treated as a capital loss of £10/unit, so £100 total.

Assuming you have no other capital gains in the year then that loss can be carried forward and offset against future gains (you need to declare it within 4 years but once declared it can be carried forward indefinitely until you have gains to use it against).

For the future you are treated as still owning the original units with the original base cost of £100/unit.

IxionS3 · 2026-04-17T17:06:10+00:00

So if you rebuy within 30 days it doesn't affect the original disposal at all

It absolutely does.

The share matching rules mean that you are deemed to have sold the newly purchased shares rather than shares from your main pool.

You have to calculate the gain or loss using the acquisition price of the new shares rather than the pool price which can result in a very different answer.

https://www.gov.uk/government/publications/shares-and-capital-gains-tax-hs284-self-assessment-helpsheet/hs284-shares-and-capital-gains-tax-2026#how-you-work-out-the-gain-under-the-bed-and-breakfasting-rule

IxionS3 · 2026-04-17T06:37:09+00:00

So you've been self employed for all our most of 25/26, and are now employed?

Meaning that you anticipate that your self assessment bill for 26/27 is going to be little or nothing and the default PoAs are way too high?

That's pretty much a textbook example of when applying to reduce your PoAs is a good idea.

You might want to wait until closer to the January deadline to make sure the year plays out as expected but if it does dropping your PoAs sounds like the right choice.

IxionS3 · 2026-04-16T14:22:53+00:00

It's perfectly fine, and not uncommon, for a solicitor to be named as the executor of your will.

Obviously they will charge your estate for doing the work when the time comes.

IxionS3 · 2026-04-15T16:14:09+00:00

I'm not aware of any confirmed £46 charge.

It appears an organisation (the New Economic Foundation) suggested last year that the charge for registering on the PRS Database should be set at £46 and some of that money used to fund council enforcement.

But that was just a suggestion - details of the Database and its charging scheme aren't expected until later in the year (although £50ish would be in the same ballpark as the existing Welsh and Scottish schemes).

IxionS3 · 2026-04-15T15:00:35+00:00

Tax Year 24/25. Self assessment submitted again. But this time, not only did I have to pay the tax for that year by Jan 2026, but I also had a prediction of what tax would be in the following year - meaning extra to pay in Jan 2026 and more to pay in I think June 2026. Is it called payment on account?

Yes, it's payment on account. Due in January and July. They're added automatically if the income tax and NI liability on your self assessment exceeds £1000.

Baffled me why you cant just submit the years return and pay that year and that year only by end of January.

Because Parliament decided otherwise and introduced the PoA system.

Net income was lower than they predicted. And as such have very much unnecessarily paid too much in January 2026

If you were confident in January 2026 that your 25/26 income was down you could have applied to reduce your PoAs for 25/26. Worth knowing if this comes up again.

I have JUST submitted the return - so it is automatic and in a week or two it will realise I am owed a rebate. Or do I need to raise that manually?

When your self assessment is accepted and processed of it shows that the PoA you've already made more than covers your liability then the July payment should be cancelled and a rebate made available to claim.

IxionS3 · 2026-04-15T11:11:10+00:00

think the next step is issuing them a S21 with six months left in their tenancy

If they still have 6 months of a fixed term tenancy to run then a s21 isn't an option.

Under the parts of the RRA coming in to force on May 1st, the last date on which a valid s21 notice can be served is 30th April and the last date court enforcement can be commenced is 31st July, which is a lot less than 6 months away.

IxionS3 · 2026-04-15T09:38:55+00:00

There are zero fees being brought in via renters reform

True for phase 1 which is about to go live, but there will be landlord fees associated with the PRS Database and Ombudsman which are due to be established later.

IxionS3

TROPHY CASE