HMRC Admin 19 Response

Hi,

You should submit any outstanding returns and ensure that all HMRC affairs are cleared before applying for strike off. HMRC has the right to object to strike off

The return should detail the fact that the company has ceased trading and include the cessation date. Once we have clarification on the cessation date we will mark the company dormant and you will be able to pursue the strike off. 

Thank you.

Hi,

From the information supplied it would appear that you are both the employer and the employee. An employer should be asking for receipts in relation to expenses and if this is the relationship you would be acting under then, yes, as the 'employer' is reimbursing the expenses, these would need to be reported within the company accounts. You can see guidance here: 

Expenses and benefits: cash sum payments to employees

As long as your employee has actually spent the scale rate payment on business expenses, you will not need to check every single receipt, it is fine to just check a sample.

You can see further guidance here:  

EIM05210 - Employment income: scale rate expenses payments: subsistence expenses: sampling guidance

If you have further specific questions relating to this enquiry you should write to the following address, quoting the PAYE reference number:

PT Operations North East England,
HM Revenue and Customs,
BX9 1BX

Thank you. 
 

Hi,

Unfortunately, due to the nature of your enquiry you will need to write to us the specifics of the company or alternatively seek the services of  a professional tax advisor.

Corporation Tax: general enquiries

Thank you.

Hi,

A tier 2 or skilled worker visa would permit self employment, provided that self employment was withing the rules of the visa for additional employment. You can see guidance here:

Skilled Worker visa

Thank you.

Hi,

Unfortunately, we cannot advise when a paper tax return will be processed.  So long as the paper PPDCGT return for the disposal of residential property was received withing 60 days of the disposal, then there will be no late filing penalty.
 
When the return is processed, my colleagues will write to you to advise you of the payment reference number and how you can pay the tax. You will have 60 days from the date the payment reference number is created to pay the tax.  

You have the right to appeal any penalties that are imposed, but not any interest charges as interest rates are set in legislation. You can see guidance here:

HMRC interest rates for late and early payments

For confirmation of receipt of your paper tax return, you will need to contact our Self Assesment team.

Self Assessment: general enquiries

Thank you.

Hi.

You would need to obtain the market value of the property at the time you acquired it, names added to the deeds, and convert this to pounds sterling, using a just and reasonalble exchange rate in use at the time.  

You would take your share of the disposal proceeds, converted to pounds sterling, using a just and reasonalble exchange rate in use at the time, and deduct your share of the market value of the property at the time of acquisition. You also deduct your share of the costs, such as solicitors fees, estate agent fees and so on.  

What you are left with is either a gain or a loss. Any gainst should be declared in a Self Assessment tax return. Any losses can be claimed either in writing to HMRC, including supporting evidence or in a Self Assessment tax return.

Thank you.

Hi,

There are tax consequences to consider whether an interest free loan is received from a NZ trust or from a NZ resident individual. The transfer of assets abroad legislation applies when a 'relevant transfer' arises. Under these rules, an individual who makes the transfer, or who benefits from it, becomes subject to Income Tax.  

A relevant transfer is one which is a transfer of assets, and, as a result of the transfer, income becomes payable to a person abroad. You can see guidance here:

INTM600220 - Transfer of assets abroad: General conditions: Relevant transfer

INTM603640 - Transfer of assets abroad: Non-domiciled and deemed domiciled settlors from 6 April 2017: Valuation of benefits - payment by way of loan

As you will note, a person abroad may, in this context be an individual as well as trustees of non-UK trusts. You can see the guidance here: 

INTM600360 - Transfer of assets abroad: General conditions: Person abroad

The following guidanceINTM603640 (https://www.gov.uk/hmrc-internal-manuals/international-manual/intm603640) is potentially relevant if the loan is made by a NZ trust.  

INTM603640 - Transfer of assets abroad: Non-domiciled and deemed domiciled settlors from 6 April 2017: Valuation of benefits - payment by way of loan

You may also wish to review the following guidance for the general rules for determining a benefit under the provisions of s742B-s742E ITA 2007.

INTM601560 - Transfer of assets abroad: The benefits charge: Receives a benefit

You should also be aware of the exemptions from charge rules outlined here: 

INTM602620 - Transfer of assets abroad: Exemptions from charge: Introduction

Thank you.

Hi,

Opening another ISA, besides your lifetime ISA would not affect your help to buy bonus. You can see guidance here:

Individual Savings Accounts (ISAs)

Thank you.  

Hi,

The deadlime for amending a 2022 to 2023 tax return is 31 January 2025. You can see guidance here:

If you need to change your return

Thank you.

Hi,

Your employer's contribution to your pension, does not count towards the pension relief threshold. It is only your payment that counts. You can see guidance here:

Tax on your private pension contributions

Thank you.