Can I get a rebate on the tax I paid?

Q I RETIRED last month. How can I get a rebate on tax I’ve paid this year? A IT’S likely you will only be due a rebate if you have paid tax in a higher bracket than the one you’ll be in at the end of the tax year. It will depend on what pension income you receive and when you start getting it. Apply online or return form P50. Q MY dad died recently and left me £25,000 in his bank. Should I declare this as earnings and pay tax on it? A SORRY to hear that. No, certainly not. Apply for “grant of probate”. This enables any beneficiary to access their inheritance. Q I’M about to cash in my Lifetime ISA to put towards a home deposit. Can I now continue saving towards my retirement? A YES you can, as long as you continue to meet the personal criteria – being under 50 – for investing in a lifetime ISA. You can put in up to £4,000 a year, and any contribution counts towards your annual £20,000 total yearly ISA allowance. Q I’VE built some debt on my credit card over summer. I can’t afford to pay it off in one go. Is it worth taking out a 0% deal? A GETTING a 0% balance transfer card could be a good move but it depends on the amount of debt and the monthly interest payable. On application for a new 0% card there is usually up to a 3% fee on a balance transfer, and this could be more than the total interest should you swap and then repay the debt sooner than expected. Do the maths first to ensure you are making the right move for your circumstances.

Financial Editor Tricia Phillips answers your questions each week.