HMRC Admin 5 Response

Hi 

As you are in receipt of foreign income, this should be declared on your self assessment tax return, even if your personal savings allowance covers your tax liability.  
You should do that each tax year.  The world-wide disclosure facility would be used, where there are instances of past foreign income not declared on a tax returns.  
If you disclosure is accepted, you may not need to submit tax returns for the historical years, but you will still incur penalties and interest charges.  
These charges may not be as much as if you complete the tax returns. Please see Make a disclosure using the Worldwide Disclosure Facility.

Thank you

Hi TomW

No.  You can only claim for payments you make into your own pension.  Your iwfe can claim for any payments you make into her pension scheme.

Thank you

Hi

We cannot comment on scenarios.  Please have a look a the guidance on carrying forward capital gains losses at Capital Gains Tax: what you pay it on, rates and allowances

Thank you

Hi Raymond

Your employer is making these payments into the pension fund out of the business fund, on your behalf, so they need to set this against their business tax.  
You are not making the payments, so you cannot claim tax relief.

Thank you

Hi

We cannot advise whether there are any sanctions in place, as this is not a peresonal tax matter.  
There are no income tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends. These would then potentially be subject to tax. Further guidance can be found here (Tax on savings interest and Tax on dividends).

Thank you

Hi Jay Taxpayer

Please refer to guidance at BIM37600 - Wholly and exclusively: duality of, or non-trade, purpose: travel costs: contents

Thank you

Hi User12349adc

We cannot advise you how much you can withdraw from your life insurance policy.  We can only provide you with the guidance to help you work this out for yourself.  
You may need to discuss with your policy provider or seek professional financial advice.

Thank you

Hi edmund

There is no gain on this as it is for personal use -CG78315 - Foreign currency: personal expenditure of individuals

Thank you

Hi Thomas Keatley

You will need to contact an estate agent to get you a valauation of your property based on similar ones sold at the same time that you bought yours - this would be properties without the basement so you could then ascertain what the cost of the basement would be.

Thank you