HMRC Admin 32 Response

Hi,

We would need to access your record to review the statement for you.

You can contact our Self Assessment team below.

Self Assessment: general enquiries

Thank you.

Hi,

The tax code would be sent online to the employer so normally received 3 to 5 working days to their online account.

If you ask your employer to check their online account the code should be there. 

Thank you.

Hi,

HMRC cannot advise you on your residence as this is for you to determine based o nthe guidance available.

Please refer to:

RDR3 Statutory Residence Test

Also, If you qualify for split year then you only report any foreign income for the UK part of the year.

RDRM12000 - Residence: The SRT: Split year treatment

If you do not qualify then you will need to report all your foreign income to the UK.

Tax on foreign income

The guidance at RDRM12150 at GOV.UK will help you work out if split year treatment applies.

For the tax return please refer to:

Check if you need to send a Self Assessment tax return

Thank you.

Hi,

You will need to contact HMRC to access your record.

Income Tax: general enquiries 

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Hi,

Any foreign bank interest should be declared in a Self Assessment Tax Return each year, regardless of the amount or even if no tax is payable on the interest.  

Unfortunately, you cannot lump the last 8 or 9 years interest together and declare it in one tax return.  

Please have a look at the guidance for the world-wide disclosure facility below, for your next course of action.

Make a disclosure using the Worldwide Disclosure Facility

Thank you.

Hi,

Please obtain the probate value of the property when you inherited 25% in 2014 and do the same for the 25% inhertied in 2022.

Take 25% of the probate value at both dates and add it together.  In this way you have worked out your 50% the value of the property you inherited.  

Work out 50% of the disposal value.  

Decuct the 50% inherited value from the 50% disposal value, to work out the gain.  

Next decuct 50% of the costs of disposal, such as solicitor or estate agent fees.  

Any positive figure remaining is a gain and after your annual exempt allowance is deducted, tax is then calculated.  

There is a calculator below  to help you work out your gain and from where you can report and pay any capital gains tax within 60 days of completion.

Tax when you sell your home

Thank you.

Hi,

You do not to apply for those schemes. You are required to complete a Self Assessment Tax Return (SA100) and declare the foreign employment income on SA102.  

If you are required to pay foreign tax on this employment, then you may be able to claim a foreign tax credit for up to 100% of the foreign tax paid.

Thank you.

Hi,

You can claim private residence relief for the period that the first property was your main residence plus a further 9 months over the number of months that you owned the property. 

For example. (5*12)+9 = 69 over 6/12 = 72.  69/72.  

Have a look at the helpsheet HS283 below for more advice.  

HS283 Private Residence Relief (2023)

Stamp duty paid on the second property, could only be set against capital gains arising on the disposal of that second property.  Have a look at the guidance on stamp duty and land tax at:

Stamp Duty Land Tax

Thank you.

Hi,

Income Tax and Capital Gains Tax are two entirely separate taxes, with each having is own tax free element. In 2023 to 2024, Income Tax has a personal allowance of £12570 and Capital Gains Tax has an annual exempt allowance of £6000. The two taxes are always, without exception, calculated separately.  

Income Tax is always, without exception, calculated first. Where there is an element of the basic rate band (20%) not utilised against income, this unused element can then be utilised as the lower rate of capital gains tax (either 10% or 18% depending on the type of gain) with any remaining gain taxed at 20% or 28%.  

Capital Gains Tax for residential property is taxed at the lower rate of 18% and the higher rate of 28%, whereas, personal possessions such as stocks and shares or jewellery, paintings, antiques, coins and stamps and sets of things, eg matching vases or chessmen; are all taxed at the rates of 10% and 20%.  

Tax when you sell property

Capital Gains Tax on personal possessions

Thank you.

Hi,

They will be paid or reimbursed by the employer. 

Thank you.