HMRC Admin 32
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RE: Do I pay Class 2 and 4 National Insurance on Miscellaneous Income?
Hi,
You only pay Class 2 and Class 4 on self employed income. The incomme you refer to could be deemed as this if you consider it to be trade. If not, you may be liable to Capital Gains Tax on it due to the buying and selling of the crypto. The £20,000 would only count if you actually put it into the SIPP.
For details on crypto see:
Cryptoassets Manual
Thank you. -
RE: How do I pay due tax by deadline?
Hi,
Due to the level of rental income you receive, you do need to register for Self Assessment and complete a tax return. A penalty will be charged as we should have been notified by 5 October 2022 that you needed to complete a tax return.
Thank you. -
RE: What value to use for property transferred in divorce settlement
Hi,
To determine the figures to use they need to have a look at the following two links.
CG22500 - Transfer of assets: between spouses or between civil partners: separation, divorce or dissolution: value of consideration where date of disposal precedes decree absolute or precedes the date the dissolution is made final
CG22505 - Transfer of assets: between spouses or between civil partners: separation, divorce or dissolution: value of consideration where date of disposal is after Final Order, decree absolute, or after the date dissolution is made final - HMRC internal manual
Thank you. -
RE: Self Assesment and Tax free lump sum from pension
Hi,
No, you only need to enter details of taxable income.
Thank you. -
RE: Cash basis FHL new/replacement furniture
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RE: Communicating I left the UK after I already left and self assessment
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RE: Am I classed as self employed?
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RE: Covid and "working from home tax relief" - how to claim
Hi,
If you are entering your expenses as a breakdown to show each type, the working from home should be entered under the rent,rates insurance box.
Thank you. -
RE: Viewing previously paid CGT calculations for Self Assessment
Hi,
You can log back into the Capital Gains gateway account and view the details you submitted.
Thank you. -
RE: Indian NRO interest income above £2000