Steven Moss

Hi Thank you for confirming, but if I declare it on the tax return it will create a tax charge on the basis of it being fully redeemed. As stated this is not the case as it has only been transferred. If i declare it on the tax return, is there an option on the return to reverse the tax charge? Thank you

Hi Metlife have issued me a chargeable event certificate even though the policy had not been redeemed. The policy was transferred between two pension management companies and has not been redeemed either in part or full. When I complete my tax return, because a chargeable event certificate has been issued i presume that HMRC would expect it to be declared on the return however this will trigger a tax charge. Can you please advise whether I should include this on my tax return and if there is a way to mark it exempt for tax purposes, as it has not been redeemed? Or as there hasn't actually been a chargeable event i should not include it on my tax return? Thank you

Hi These appears to be a grey area as I have been offered a leased salary sacrifice scheme electric car. Under this scheme I will be paying the lease via salary sacrifice via my monthly salary, but will suffer a benefit in kind charge as if it was a company car, which will be reported via P11d. So for reclaiming fuel, is this a company car and therefore the rate is 9p per mile? Or is it classified as my own car (as i am paying the lease) at use the 45p per mile charge? Can you please confirm? Thanks, 

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Hi Thanks for your reply but the advice provided is for individuals and this relates to Consultancy fees provided by a UK Limited company to a Malawian company. Apologies for the misunderstanding. I have been led to believe in this case that the unused DTR can be carried forward. But am unsure whether we can utilise the carried forward amounts against this years corporation tax liability in its entirety, or must the carried forward balance only be offset against this years profit as an expense in the P&L? Thank you

Hi Last year our corporation tax liability was less than the withholding tax suffered in a country with a double taxation treaty (Malawi). Therefore we had unused Double Taxation Relief carried forward. Can you please confirm if I am able to utilise this loss against this years corporation tax liability in its entirety? Or can the carried forward balance only be offset against this years profit as an expense? Thanks, Steve

Thank you

Thank you but the company will no longer exist. so the Class 1a will not be paid. this is why we wanted to file it now and pay the laiiblity. Thanks, Steve

Hi We have a limited company that has ceased to trade. All employees have had their P45’s and for November a nil return was filed. I would like to close down the PAYE scheme, which is simple enough. However, for 7 months there were medical insurance benefits in kind, of which class 1a NIC needs to be paid. Can you please advise if and how I can file an early P11d to declare these benefits and then pay the NIC liability due? We are planning to strike the company off this month and we would not want to keep the company open until April 2024, just to be able to file a P11d. If you can please advise it would be much appreciated? Thanks, Steve

Hi Thank you for confirming, much appreciated and i will ensure it is declared as foreign interest going forward.