HMRC Admin 32 Response
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RE: FX hedging in investment portfolio
Hi,
Please refer to guidance at:
CFM61000 - Foreign exchange: tax rules on exchange gains and losses
Thank you. -
RE: Tax refund to Agen
Hi Karen,
I would advise to contact Brooksdale to find out how the obtained the details to make the claim. If you think it is a fraudulent claim then the correct course of action is to submit the details to action fraud.
Action Fraud - National Fraud & Cyber Crime Reporting Centre
Thank you. -
RE: Adjusted Net Income - Child Benefit Calculation?
Hi Tony,
If your pension contributions are deducted from your wage as salary sacrifice which takes your income down to £55k then you would not deduct again for adjusted net income.
Thank you.
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RE: Overpaid tax refund on pension lump sum
Hi,
If submitted 25 September then shoud have been reviewed. If you still have not received a response you will need to contact our Income Tax team to review.
Income Tax: general enquiries
Thank you. -
RE: Deadline for transferring child benefit tax credit
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RE: HMRC lowering my personal allowance too much
Hi,
If your husband has received a tax code then HMRC would also be able to view the tax code issued. In this case we would need to access your husbands record to review this and update if needed.
Income Tax: general enquiries
Thank you. -
RE: Allowance on saving interest
Hi,
In the first example you would be in the higher rate of tax so would receive the £500 savings allowance. You would not be eligible to the £5000 starting rate if your income is over £17,570 for the current 2023 to 2024 tax year. Again as you would be in the higher rate the savings allowance will be £500.
Thank you. -
RE: Donations to registered Charities
Hi,
If you pay tax at the basic rate you would not receive any additional relief for the donations. If you are a higher rate taxpayer then you would be able to claim relief on the donations.
Thank you. -
RE: do you have to pay tax if youre not working at all but your interest is over £1000? I'm a full
Hi,
If your untaxed interest exceeds the Personal Savings Allowance of £1000, then your unused tax-free personal allowances will be be applied against the remaining untaxed interest. If this amount of untaxed interest exceed the remainder of your tax free personal allowances, it will be subject to the 20% Basic Rate of Income Tax.
Thank you. -
RE: Mileage Claims. 2 places of work
Hi,
You would only be able to claim for business travel. Travel to your normal place of work is a prviate journey in you would not be able to claim for this.
Claim tax relief for your job expenses
Thank you.