HMRC Admin 5 Response
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RE: Report untaxed interest
Hi
After the tax year end the banks and building societies submit the untaxed interest details to HMRC.
Once received HMRC will review your record and if underpaid or overpaid you will receive a calculation with the details.
Thank you -
RE: How to get help resolving an overdue refund?
Hi
We will need to access your record to check on the repayment. You can contact HMRC at Income Tax: general enquiries
Thank you -
RE: 2nd income details not being received by hmrc
Hi
We would need to access your record to review this.
You can contact HMRC Income Tax: general enquiries
Thank you -
RE: SA required?
Hi
To complete a Self Assessment the interest from savings will need to be more than £10,000 Check if you need to send a Self Assessment tax return.
The K code means that the deductions in the code are more than the allowances.
Your father would need to contact HMRC to check the interest is included in the code Income Tax: general enquiries
or he can check online if he has an online account Personal tax account: sign in or set up
Thank you -
RE: High Income Tax Charge - Taxable Income Calculation
Hi
No the personal allowance is not deducted to calulate your adjusted net income. Guidance can be found at Personal Allowances: adjusted net income
Thank you -
RE: First payment on account for 2024-25
Hi
If you are unable to set up a payment plan online you can contact the helpline to discuss if a papyment plan can be agreed 0300 200 3822 8am to 6pm Monday to Friday.
If payments on account have been set up for the next tax year but your income has changed and the balance for the tax year will less then you can adjust the payments Understand your Self Assessment tax bill
Thank you -
RE: Completing SA109
Hi
There are several sections to the SA109 supplementary page.
The Residence section is used to declare that you are not UK tax resident for the whole tax year, claiming overseas workday relief and tax resident for the whole tax year, but claiming split year treatment.
The split year allows you to split your tax year into a taxable world-wide income period and a taxable UK income period.
The personal allowance section allows individuals who qualify for personal allowances, to claim them.
The domicile section is relevant if you wish to claim the remittance basis of tax.
If you choose not to complete a SA109, you are declaring that you are tax resident in the UK for the whole tax year and you are declaring your world-wide income and capital gains on the tax return.
Thank you -
RE: Capital Gain from second home
Hi
No. Only the beneficial owner of the property, in the case, the spouse, is liable to capital gains tax on the disposal of the second property.
What the beneficial owner does with the proceeds of the disposal, after capital gains tax is paid, is not a factor in calculating the capital gains on the disposal.
Thank you -
RE: Setting up sole proprietorship
Hi
1 - Yes. As an employee of a company, you can choose to set up as a sole trader (self employed).
2 - If your gross turnover exceeds £1000 in a tax year, then you need to register as self employed and submit a self assessment tax return. You can do this at Set up as self-employed (a 'sole trader'): step by step
3 - See 2
4 - Both your employment and self employment are separate. It is only when you complete your self assessment tax return, where you declare all of your 'world-wide income', that they are brought together by HMRC, to calculate how much tax and national insurance you owe.
Thank you -
RE: Stamp duty when selling a buy to let property
Hi
Please have a look at the guidance at CG15250 - Expenditure: incidental costs of acquisition and disposal.
It provides a list of allowable costs, which includes stamp duty or stamp duty land tax.
Thank you