BellaBoo

Hi, I'm not a HMRC Admin but if you read the page the admin linked you'll see only income from FHLs can qualify (currently, not sure if that will change with the planned scrapping of the FHL scheme). This is because income from an FHL counts as trading income and trading income is earned income. Any other rental income does not qualify as it is income from letting property rather than a trade and income from property isn't earned income (so cannot be relevant earnings for the purpose of pension relief).

Hi, not a HMRC Admin but ESC D21 only applies to notices (nominating a residence) given prior to 6th April 2020 so could not apply here.

Hi, I'm not HMRC Admin but there are no yearly limits for NI unless you are paid annually or a director of your own company. If you are paid monthly then it is the monthly limit you need to look at. If paid weekly then the weekly limit, and so on. I believe your pay is over the weekly/monthly limit but you are trying to apply the annual limit to it so it is causing you to think you've overpaid.

Hi, I'm not a HMRC Admin but you wouldn't be able to deduct mortgage interest from Ltd company profits (because as you say, the mortgage is not an expense incurred by the company). You'd likely also need the lenders consent to transfer your interest in the property to the company. I would be surprised if they would agree to it. Plus law has rules around identity of parties to a contract which mean any agency you claimed to be acting under would need to be disclosed to the mortgage company at the time of purchase else youd be acting as principle rather than agent.

Hi, I'm not a HMRC Admin and I can't read your most recent post yet but form 17/unequal sharing of interest in property can only ever apply if it is held as tenants in common. The law presumes property is held equally (50% each) by spouses where it is jointly held (as joint tenants or tenants in common). However the law allows spouses to be taxed on their actual share rather than the presumed 50% each basis. This is why it only applies to tenants in common, because if it was owned as joint tenants their actual share would be the same as the presumed share (50% each) so they can only be taxed on that basis. It is only where it is held as tenants in common can it differ from the presumed 50% each.

Hi, As a married couple you cannot transfer a right to income without it being classed as a settlement and remaining taxable on the person who made the settlement (you in this instance). You would need to transfer the beneficial ownership in the capital (not only the income) for it to be effective. https://www.gov.uk/hmrc-internal-manuals/trusts-settlements-and-estates-manual/tsem9923

Hi, not a HMRC Admin but wanted to add while it is taxable on receipt, if the rents are collected by a letting agent then you will be taxable on the payment when the agent receives it (not when the agent pays it to you). This is because as your agent they are acting on your behalf and are receiving payment on your behalf. https://www.gov.uk/hmrc-internal-manuals/property-income-manual/pim1094

Hi, not a HMRC Admin but it is up to your employer how much they are willing to pay. The scale rates just specify how much your employer can reimburse without you being liable to tax on the payment. Your employer can pay more or less than this and if they pay more they can choose to pay it gross to cover any tax or NIC you are liable for. Or they can agree a bespoke scale rate with HMRC.

Hi, not HMRC Admin but if you don't have a certificate the you will not be able to claim. The certificate is proof the investments you made qualify for EIS. It is something the business needs to apply for and meet conditions of, it isn't automatic on all investments. https://www.gov.uk/guidance/venture-capital-schemes-apply-for-the-enterprise-investment-scheme

Hi, not a HMRC Admin but there still seems to be confusion about this. You cannot (at least for tax purposes) just transfer the right to income to a spouse, as it is caught by settlements legislation so remains taxable on the spouse that transferred their right to income. https://www.gov.uk/hmrc-internal-manuals/trusts-settlements-and-estates-manual/tsem9923 In order to transfer rental income to a spouse, you need to transfer the underlying capital too. If there is a mortgage charge over the property the lenders consent will likely be required. If your spouse assumes any of the mortgage liability that will count as consideration and give rise to an SDLT charge. If you don't understand the above then please, please seek professional advice to help guide you else you could end up costing yourself money instead of saving it.