HMRC Admin 32 Response

Hi Christopher,

You can find guidance here:
 

USA: tax treaties

Thank you.

Hi,

If the loss you are bringing forward is more than your profit for this year, you will get that error message. You would only input the same amount as your profit. Any balance then left will be carried forward to next year.

Thank you.

Hi,

No, you need to deduct your normal commute.

Thank you.

Hi,

You can claim the letting agents fees against the rental. The estate agent fees for buying or selling the property would then be against the gain if you sell the property. You can claim:

• Management fees paid to an agent for rent collection, advertising and administration. 
• Legal and professional fees for renewing a lease (if the lease is for less than 50 years).
• Professional fees paid to evict an unsatisfactory tenant in order to re-let the property.
• The costs of appealing against a compulsory purchase order.

 You cannot claim:

• Any costs for the first letting or subletting of a property for more than a year.
• The costs for agreeing and paying a premium on renewal of a lease.
• Any fee paid for planning permission or registration of title on property purchase.

Thank you.

Hi,

If a property is acquired in a dilapidated condition, expenditure incurred in repairing it and putting it into a fit state for letting (including expenditure on decorations) may be inadmissible as a deduction for Profits of a Property Business, see PIM2020.

For Capital Gains purposes, however, such expenditure as cannot be deducted in computing income may be regarded as allowable expenditure under TCGA92/S38 (1)(b).

This is confirmed at:

CG15200 - Expenditure: enhancement expenditure: demolition costs

Thank you.

Hi,

This is salary sacrifice and you cannot claim relief on these payments as they are deemed employer contributions and not yours.

Thank you.

Hi,

You would need to check this with a financial adviser as the matter of which trading platform to use is not for HMRC to determine.

Thank you.

Hi,

If you have had a home oversears in the tax year, you can only stay in that home for a maximum of 30 days in the period that you are claiming for. Should you still not understand this, you may wish to seek the help of a professional who deal with residence.

Thank you.

Hi,

As UK resident you will need to report the sale in the UK. You can claim foreign tax credit relief for the Australian tax up to the maximum of UK tax that is due on that source. Further guidance is at:

Tax when you sell property

HMRC cannot offer any recommendations for an accountant.

Thank you.

Hi,

You will still get full relief under net pay as this is taken from your pay before any tax is calcualted. As a higher rate taxpayer, this then reduces your amount of taxable income at the higher rate so means less tax is paid by you. You have still received the full relief.

Thank you.