HMRC Admin 5 Response
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RE: Second job tax
Hi TESSA MATHEW
If your income from both employers is below the personal allowance £12570 then we can update your record to split the personal allowance between both jobs.
If you have an online perosnal tax account you can update your income for each job online here
Personal tax account: sign in or set up to update your tax codes.
Alternatively you will need to contact HMRC to review/update your tax code Income Tax: general enquiries
Thank you
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RE: Tax on pension lump sum (as a beneficiary) to overseas people
Hi
Please refer to guidance at Tax on a private pension you inherit.
If your pension is taxable in the UK you would then need to consider relief under the terms of the double taxation treaty to apply for relief - Tax on your UK income if you live abroad
Thank you -
RE: Split Year Treatment
Hi
Split year treatment can only be claimed by completing a self assessment tax return. You need to use a paper tax return (SA100) to be able to submit SA109 and any other relevant supplementary pages.
If you are able to verify your identity, you can buy a commercial tax return that include SA109 built in and send this online.
In either case, the whole tax return must be submitted in the same format, either on paper or online.
Thank you -
RE: Profit for share ISA capital after the financial year
Hi
There is no CGT on shares held in an ISA
Thanks -
RE: Multiple ISA Transfers
Hi
As long as there is only one type of ISA opened each year. you are free to spread your £20000 lime amongst them. From 6 April 2024 this changes following the recent budget changes.
Thank you -
RE: Tax on pensioner savings
Hi Paul
That is correct.
Thanks -
RE: Capital gains treatment of the costs of a long residential lease extension
Hi
HMRC cannot comment on future events as legislation and/or plans may change. For current guidance, please refer to CG70700P - Capital Gains Manual: Land: Leases: Introduction: contents and
CG15180 - Expenditure: enhancement expenditure
Thank you