HMRC Admin 5 Response
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RE: Recording reimbursements for volunteering and work expenses
Hi
As the money from volunteering is basically a remibursement of costs there is no need to declare this anywhere as you do not get paid for the work done as a volunteer.
For the transport cost for your PAYE employment, you would only be able to claim any business related costs. Normal commute to work cannot be claimed - Claim tax relief for your job expenses.
For the self employed expenses, you declare all income received. You can then claim any reimbursement as expenses - Expenses if you're self-employed.
For the means tested benefits you would need to check this with the DWP.
Thank you -
RE: Income from a Canadian R.R.I F
Hi alan Matthewman
DT4605- Where a UK resident makes a lump sum withdrawal from an RRSP or an RRIF, Canada imposes a 25 per cent withholding tax.
No tax credit relief is allowable in the United Kingdom in respect of the tax withheld, however, because the Canadian tax is imposed upon the lump sum withdrawal (which does not itself give rise to a tax charge in the United Kingdom);
whereas any UK tax charge is on the disposal of assets held within the Plan or Fund to enable the lump sum to be withdrawn (and no tax is levied on the disposal of fund assets in Canada).
The Elimination of Double Taxation Article (Article 21) obliges the United Kingdom to give credit for Canadian tax paid only against UK tax computed by reference to the same profits, income or chargeable gains by reference to which the Canadian tax is computed.
Since no UK tax is computed by reference to the subject of Canadian tax (that is, the withdrawal), no tax credit relief is allowable. Similarly, where the disposal of fund assets to facilitate a withdrawal gives rise to a UK tax charge, no tax credit relief is allowable since the disposal does not attract a tax charge in Canada.
Thank you -
RE: UK Tax on Australian Superannuation
Hi Daiput
You have still withdrawn the fund in order to invest it in property, and as such this is still seen as a cash withdrawal of the fund irrespective of what you have done with it.
Thank you -
RE: Deduct contributions to German State pension scheme?
Hi
Relief is only due on private pension contributions. as this is the state pension then, no.
Thank you -
RE: SA106 FTCR
Hi
1. It is not mandatory to submit it but you can attach it as evidence to support your figures
2. No, you dont need this at this time. You may be asked at a later date though to provide evidence.
Thank you -
RE: Stopping self employment
Hi
Until the tax return has been submitted we cannot confirm this and you cannot submit the return until after 6/4/24 to declare income for the whole year. You can contact us direct to issue a letter stating you intimated that you had ceased on that date .
Thank you -
RE: Selling over £1000 but making no profit
Hi Shaun Miller
If you still have receipt to show what you paid for the items, you can claim the actual expenses. If so, you cannot claim the trading allowance on top of this so you would need receipts for all items sold. If you do not, then it would be the trading allowance of £1000 that would be due only.
Thank you -
RE: Gain and losses in day trade for index
Hi narrator
You need to report gains and losses separately. as you have not previously reported anything, and yes you should leave that part blank.
Thank you -
RE: Exceeding pension contributions - self employed
Hi rogerroger
For earnings of £6000, the pension contribution should only have been £4800 as the tax relief would then bring that up to the 6k. By paying 6k, this gives a gross contribtion of £7500 so too much relief has been applied.
Thank you -
RE: Self Assessment is asking for student loan payments towards a completed loan
Hi
Change your answer to 'no' so that no additional charges for the student loan are added.
Thank you