HMRC Admin 19

Hi,

You can only claim part of the year if you did not work at home the full year during 2019/20.

Thank you.

Hi,

There is an assumption that offshore funds are not involved.

Unit holders in authorised unit trusts (AUTs), and shareholders in open-ended investment companies (OEICs), may receive income as an interest distribution or a dividend distribution.

The CTC will make it clear whether the receipt is an interest or a dividend distribution.

Dividend distributions received are treated in the same way as any other UK dividend for Income Tax purposes.

The equalisation payment is not income and it should not be treated as a capital distribution. It is a return of the initial price paid and it should therefore be deducted from the price paid when computing the chargeable gain on eventual disposal.

You can find further information here:

CG57705 - Unit trusts: dividend equalisation payments

IFM03350 - Authorised investment funds (AIFs): taxation of investors within the charge to IT: distributions

IFM02230 - Authorised investment funds (AIFs): structure, arrangement and tax status of funds: equalisation

HS284 Shares and Capital Gains Tax (2021)

Thank you.
 

Hi,

As long as you have sent us in the details of the loss then you can use these on your return prior to these being acknowledged by ourselves.

If you have the recorded delivery reference number then please contact us direct as we should be able to trace the post from this. 

Thank you

Hi,

If you are UK tax resident then the gain would be reported to the UK and any tax suffered in the US would be given as a credit. If no tax is suffered then the Capital Gains Tax would be due only in the UK. You can find more information here:

CG14380 - Computation: foreign tax and double taxation relief: tax credit relief

Thank you.

Hi,

We are unsure what your question is, can you please calrify further?

Thank you.

Hi,

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

Please contact the Inheritance Tax team for advice:

Inheritance Tax: general enquiries

Thank you.

Hi,

If there was no pay then, yes you would put it in that box.

Thank you.

Hi,

If it has been paid off or you have been advised to pay directly to the Student Loan Company, you should answer no to the student loans question.

Thank you.

Hi,

This can only be updated by contacting our online services helpdesk using the options on the following link.

Technical support with HMRC online services

Thank you.

Hi,

Unfortunately due to the number of things you would need to consider as a director before embarking on the project we are unable to give a comprehensive reply.

We assume that you are the homeowner and that the property you live in is not owned by the company but personally by you. As you may be aware the company and the director are completely separate for tax purposes.

You have not indicated if the funds for the proposed conversion are coming from you or from the company. In either case you would not be able to directly offset the costs of the conversion against your company's profit as this is capital expenditure.

There may be other implications and you can find further information here:

Running a business from home

There may also be VAT and Capital Gains implications if the property were to be sold at a later date.

Due to the complexities involved you may wish to seek professional advice.

Thank you.