HMRC Admin 5 Response

Hi StockOptions821485

TP is short for tax payer.  "Like 1" is a typo and should not be there.  It has no meaning.  
If your employer has not deducted employer NIC from the payment, then you cannot deduct it from the payment received, when calculating the tax due.

Thank you

Hi MANNH

Being in receipt of foreign income, no matter the amount, is criteria for completing as self assessment tax return.  
This means you would need to complete a self assessment tax return, even if no tax is payable on the overseas interest.

Thank you

Hi

You would normally have to pay capital gains on any gain you make if you dispose of a property.  
Private residence relief is used to reduce a capital gain where the property was your main residence for a period of time.  
Only one property at a time can be considered your main residence for capital gains purposes.  
If you purchase a second property, you will need to write to H.M. Revenue and Customs Self Assessment BX9 1AS, to advise which property is your main residence.  
Private residence relief is the number of months a property was your main residence plus 9 months, over the total number of months you owned the property.  
You will need to decide which property will become your main residence from a particular date.  
The privte residence relief guidance can be applied when you dispose of the first property:
HS283 Private Residence Relief (2023)

Thank you

Hi BritishAl23

On a paper self assessment tax return, an overseas DDS, would be declared in box 41 on page F6.  
Online, you would tailor your return to include foreign income.  
In section '4 - fill in your return'.  
On page 2 of 2, tick yes to "Any other overseas income and gains".  
This will bring up the equivalent of box 41.

Thank you

Hi BritishAl23

Apologies, please ignore that answer.
If you invest in deeply discounted securities, put the difference between what you paid for the bond and what you redeem or sell it for in box 3 of SA101 (page Ai1).
Please see - Additional information

Thank you

Hi

Yes the taxable income would be the gross income received minus the personal allowance.
To review the difference we would need to access your record.
You would need to contact HMRC our details can be found here
Self Assessment: general enquiries

Thank you