HMRC Admin 34 Response
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RE: Deductible Items from calculating the capital gain
Hi,
You can claim for the cost of improvements you have made to the property since you became the property owner.
Improvements are permanent changes that raise the value of a property, like adding extensions or garages.
Normal maintenance costs cannot be claimed. For example replacing a basic kitchen or bathroom with a luxury version would normally be considered an improvement. However, replacing them with something of a similar standard is not normally considered an improvement.
Thank you -
RE: Allocation time for payment of backdated voluntary class 2 NIC's
Hi,
You can find out when you can expect to receive a reply form HMRC here:
Check when you can expect a reply from HMRC
Thank you -
RE: SDLT refund if property rented in 36 month period
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RE: Letter of confirmation of residence, apostille
Hi,
Sorry, we can only answer HMRC questions on this forum.
Please contact the Legalisation Office for advice.
Thank you. -
RE: Reminder letter from HMRC to complete self assessment tax return
Hi,
You can check if you need to send a Self Assessment return at:
Check if you need to send a Self Assessment tax return
Thank you -
RE: Mechanism for paying class 2 NI contributions from abroad
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RE: Universal credit query on behalf of a friend
Hi,
Sorry, we can only answer HMRC questions on this forum.
Please contact the DWP for advice.
Thank you. -
RE: CGT on shares
Hi Kingy,
No. Income tax and capital gains tax are two entirely separate taxes. The 24/25 Personal allowances (12570) is only set against income. The 24/25 annual exempt allowance (£3000) is only set against capital gains. Income tax liability is calculated first, to determin the rate of tax for capital gains. Please note that the rates of tax for capital gains in 24/25 increased as from 30 October 2024.
Thank you -
RE: Double Tax Treaty Spain
Hi,
Sorry, we can not provide updates on individual cases on this forum.
You can find out when you can expect to receive a reply form HMRC here:
Check when you can expect a reply from HMRC
Alternatively, you can contact HMRC at:
Self Assessment: general enquiries
Thank you -
RE: Transferring money from Italy to my UK bank
Hi,
There are no tax implications for transferring savings to a UK bank account unless they generate interest or dividends. These would then potentially be subject to tax. Further guidance can be found here:
Tax on savings interest
Tax on dividends
Thank you