HMRC Admin 5 Response
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RE: LTA changes give life to QROPS?
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RE: Foreign income
Hi
You would declare this as an employment (PAYE) source.
Thank you -
RE: Sole gift form joint account
Hi John Smith
HMRC cannot comment on this as it pertains to financial advise which we are not authorised to give
Thank you -
RE: Online payments are not available at the moment
Hi
As this could depend on where the income tax is due, and how you've tried to pay it so far, please contact us by webchat or phone via Income Tax: general enquiries for more advice on how to make your payment.
Thank you -
RE: Self Assessment tax penalty but paid tax based on simple assessment tax calculation
Hi Tom14
Of course! For any advice on completing your return, contact us by webchat or post via Self Assessment: general enquiries- depending on the circumstances, we may also be able to offer addittional assistance to help you complete your return, too.
Thank you -
RE: First payment on account for 2024-25
Hi
If, after filing your return, you owe over £1000 in tax, our systems then predict what you will owe for the next tax year you will be due to file, and ask for that predicted amount to be paid in two instalments (called Payments on Account).
We ask for the first instalment on the 31st of January (which is 9 months into the tax year in which it is due), and the second on the 31st of July.
When you then file your tax return for that year, these payments are deducted from your overall tax bill.
We appreciate that this system may be less convenient for taxpayer's whose Self Assessment income fluctautes, though - as the first Payment on Account payment is requested 9 months into the tax year, you are more likely to have a reasonable idea of how much tax you will owe at the end of the 12 month tax year, and can adjust your Payments on Account accordingly.
To discuss adjusting your Payments on Account, contact us by webchat or post via Self Assessment: general enquiries
Thank you -
RE: tax on QROPS death benefits
Hi
1. If the QROPS trustees make a death payment within the 10-year reporting period, they must report it to HMRC. UK law takes precedence if the individual died before 75 and within ten full and consecutive years of becoming a non-UK resident.
2. After ten full years of non-UK residency, 100% of the remaining fund should be available to beneficiaries free of UK tax on the provision that the individual died before the age of 75.
3. However, if the individual dies within ten full and consecutive years of becoming a non-UK resident, while 75 years of age or over, under UK law, beneficiaries would pay tax at their marginal rate on any drawdown from the pension. Heirs can also receive the pension as a lump sum payment, subject to a tax charge of 45%
Thank you -
RE: Paying tax on house sale funds
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RE: Setup DCNI for Hong Kong Employer by "Work From Home"
Hi
Please refer to PAYE20090 - Employer records: set up employer record: DCNI scheme - direct collection (employee only NIC) to see if this applies to you.
Thank you -
RE: Tax return when leave UK
Hi
You can send your P85 claim whenever you like, though to complete the P85, you will need the ‘details of employee leaving work’ from your final P45.
Also, if you have not left the UK yet, you must print and post your claim. You can find more advice on making your P85 claim here - Get your Income Tax right if you're leaving the UK (P85)
Thank you