HMRC Admin 19 Response

Hi,

Yes, that is correct.

Thank you.

Hi,

Due to the detailed nature of your enquiry, tou would need to contact our Income Tax team for advice.

Income Tax: general enquiries

Thank you.
 

Hi,

Probate will have given it a value at that time.

If there is no probate, you will need to contact an estate agent who can give you a valuation based on similar properties sold at the same you inherited it.

Thank you.

Hi,

The five year rule was introduced when QROPS were first established in 2006. It applies to the first five years of your residency status if you transferred your pension to a QROPS before 6 April 2017. Ultimately, you must have been UK non-resident for five consecutive tax years ahead of retiring or beginning to draw from your QROPS.

Transferring your pension into a registered QROPS scheme triggers a 10 year reporting requirement. During this period any unauthorised withdrawal has to be shared by your QROPS provider to the British tax authorities. An unauthorised withdrawal is categorised as taking funds or benefits from your pension before the age of 55 years old.

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Hi,

If you are UK resident and domiciled, you cannot use the remittance basis as you are liable on your worldwide income and gains. For country codes, please refer to the guidance here:

Residence, remittance basis etc notes

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Hi,

 You can see guidance here:
 
 HMRC tools and calculators

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Hi,

Please contact the Inheritance Tax team for advice.

Inheritance Tax: general enquiries

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Hi,

A subcontractor is paid under deduction at the verified rate of 20%. This deduction is taken from the labour provided by the subcontractor, deductions are not made for any materials they may have had to purchase. In this case if the invoice shows £2000 labour then the deduction at 20% is £400 leaving a net payment to the subcontractor of £1600.

Thank you.

Hi,

You would be better to amend the 2022 to 2023 return so that the correct details are then showing for all years going forward.

Thank you.

Hi,

You can see guidance here:

Individual Savings Accounts (ISAs)

Thank you.