HMRC Admin 2

Hi,

If you are looking at your tax calculation on your tax return, it will not show you have paid the payments on account.

Once the tax return is submitted if you check your online statement in 72 hours, you will be able to see what is actually due.

Thank you.

Hi,

You can claim the monthly lease cost less any personal use adjustment until you became the owner of the vehicle.

You cannot claim AIA for a car, see HS252 for full details:

HS252 Capital allowances and balancing charges (2020)

You can claim AIA for the carryboy top if this is business equipment less any personal use. 

Thank you.

Hi,

If the 2 Chargeable Event Certificates are for the same number of relevant years you can add the amounts of gain together and put the total in 'Other UK Income' and select Gains from life insurance policies, capital redemption policies and life annuity contracts.

If the years are different you will need to use 3rd party software for SA101 box 4 put the total amount of the gains and in SA100 TR7 box 19 give details of each individual policy, amount of gain and number of years policy held and tax paid on each gain.

Self Assessment commercial software suppliers

Thank you.

Hi,

Sorry, we can only answer HMRC questions on this forum.

Please contact the DWP for advice:

Apply for a National Insurance number

Thank you.

Hi,

Sorry, we can only answer HMRC questions on this forum.

Please contact the DWP for advice:

Apply for a National Insurance number

Thank you.

Hi,

The custodial trading account would be managed by the guardian but any Capital Gains tax will be charged against your name.

You would be taxed on any gain, difference between the invested amount and selling amount less fees, over the Capital Gain exemption which is currently £12300. 

Thank you.

Hi,

If the payments are not subject to tax or capital gains due to the type of scheme, then no, you do not need to enter these anywhere on your return. 

Thank you.

Hi,

If your dividends are less than £300 you can enter the details in the dividend section of the return.  

If you sold shares and suffered a loss, you can report these in the capital gains section of the return. You will not be liable to pay any tax on the loss, but can then use the loss to offset against any future gains you do become taxable on. 

Thank you.

Hi,

You will need to refer to article 7 of the tax treaty between UK and Australia to determine the taxation of your business profits:

UK/ Australia Double Taxation Convention

Thank you.

 

Hi,

Under Article 17 of the DTA with USA you would get full relief from US tax if cash in the pension for a Trivial Commutation Payment so will not have to pay US tax on it but declare and pay tax in UK.

If you cash in the pension under the Pension Freedom Lump Sum then you will pay US tax but have to report the pension to UK in foreign pension section and claim foreign tax credit relief for the US tax paid.

Thank you.