HMRC Admin 5 Response

Hi 

You can only use the rental mortgage interest agains the rental property and it is given as a relief rather than an expense.
On the return you are looking for the question - residential property finance costs.

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Hi GS2023

There is no original question for this to be answered correctly.

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Hi 

You will be contacted in due course to advise what actions are required/have been taken.

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Hi

No. If you are a higher rate taxpayer, the savings allowance is only £500 - Tax on savings interest

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Hi

As your employer takes the contribution from pay before tax so you get full tax relief whether at the basic, higher or additional rate.
No further relief is due and you so not show this in your tax return.

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Hi

As property jointly owned by married couples is normally split 50/50, you will need to submit a claim for an alternative split, if not already done so.
This is at Declare beneficial interests in joint property and income
and you would include a copy of the tennants in common document. You do not need a trading account for this and you both need to submit a separate tax return.
Please note if you have not already sent the form 17 to HMRC, the alternative split cannot be backdated.

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Hi

Strictly speaking, 27/3/23-5/4/23 is your first tax return is 22/23 that is due 31/1/24.

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Hi

If you have registered for self assessment, as self employed, you will have a 10 digit Unique Taxpayer Reference (UTR) number.  
If not, you can register as self employed at Check how to register for Self Assessment
using your Goverment gateway number and password.  
You can complete an online tax return at File your Self Assessment tax return online
Any online returns received after 31 Janaury 2024, may be subject to penalties and interest charges, which you can appeal at Disagree with a tax decision.

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Hi

As the money is clean capital, there are no tax implications from the transfer to the UK.

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Mahesh angadi

Please refer to Paying tax on the remittance basis (Self Assessment helpsheet HS264)

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