HMRC Admin 19 Response
-
RE: On what basis is CGT calculated on selling property ?
-
RE: Crystallising a small pension but still contributing to another
Hi,
The £4000 limit is triggered when you take a pension and this means you cannot get tax relief on more than this amount. This includes payments to any pension, plus the tax relief applied. You can see guidance here:
PTM056520 - Annual allowance: money purchase annual allowance: trigger events
Thank you. -
RE: director of a limited company making employer contributions from business account
Hi,
No, as this is employer contributions. You can see guidance here:
Tax on your private pension contributions
Thank you. -
RE: Gifting House to Child - CGT and Private Residence Relief?
Hi,
There will not be any CGT to pay but you will need to consider Inheritance Tax implications. You can see guidance here:
Passing on a home
Thank you. -
RE: IRS Tax Refunds for Student Internships in the US.
Hi,
The refund itself is not taxable and as you will be getting the tax back, you should not declare this in your tax return as Foreign Tax Credit Relief.
Thank you. -
RE: Reporting W2 US income on the UK return
Hi,
If it has not already been taxed abroad, this will be included within your self employment turnover.
Thank you. -
RE: The SRT: Second automatic UK test. Consecutive overseas homes.
Hi,
The second automatic UK test is that you must live for at least 91 days in a row in the UK and within that 91 days, 30 of them must be at the same home. The overseas property, if held, cannot be occupied for more than 30 days in the same tax year for you to meet this test.
Thank you. -
RE: CG73000 - Land: exchange of joint interests - Foreign Properties
Hi,
As each case needs to be looked at in its own merit, this cannot be confirmed on the forum and you will need to contact our Self Assessment team for advice.
Self Assessment: general enquiries
Thank you. -
RE: Foreign incomes, self assessment
Hi,
You will declare this as self employment and convert the income to sterling. This will then determine any National Insurance due.
Thank you. -
RE: UK QCB disposal
Hi,
QCBs are not subject to Income Tax and are exempt from Capital Gains Tax.
Thank you.