HMRC Admin 19 Response
-
RE: Tax Credits Overpayment Repayments Cleared by HMRC
Hi,
You should have received a letter to confirm Tax Credits has stopped the Direct Debit for the debt. You can see guidance here:
Tax credits overpayments
When you transfer to Universal Credit any debt is sent to DWP also. DWP should contact you to start recovery of the outstanding balance. We do not have a timescale for this. However, if you are worried you can contact the DWP debt management team. More information on the outstanding balance and contacting DWP Debt Management can be found here:
Repay and manage benefit money you owe
Thank you. -
RE: Carers Allowance level for 2024/25 seems wrong
Hi,
Please contact the Carer's Allowance Unit for advice.
Contact the Carer's Allowance Unit
Thank you. -
RE: Stamp Duty Land Tax for UK citizen resident abroad
-
RE: Should we claim higher rate tax payer pension relief on salary sacrifice pension?
Hi,
If you pay into your pension scheme before your employer calculates the tax to deduct from your earnings, then you are receiving tax relief at source and no further relief is due. This would be the case with salary sacrifice.
If you pay into the pension scheme after your income has been taxed, you can claim higher rate tax relief, through a Self Assessment tax return, if you need to complete one, page TR4 of SA100, or in writing, providing supporting evidence of payments from your pension provider.
Thank you. -
RE: Private residence relief (period of relief)
Hi,
When you acquire a second property or more, you need to notify HMRC in writing, which property is to be your main residence, within 2 years. If you do not do this, HMRC will determine which property is your main residence, based solely on the facts of the case.
Private Residence Relief, allows an additional 9 months, when calculating the number of months that the property was your main residence. You can see guidance here:
HS283 Private Residence Relief (2023)
Thank you. -
RE: Can interest on bank savings be paid into a SIPP?
Hi,
Interest is taxed as income, but it does not count towards working out your earnings threshold for tax relief on pension payments. You can pay the interest into your pension scheme. You can see guidance here:
Check if you have unused annual allowances on your pension savings
Thank you. -
RE: Moving to Spain and keep working for a UK based company
Hi igiovann,
You complete the form P85, to advise that you still have UK employment, with one or more employers and that you will not be resident in the UK. We can then instruct your employer(s) to stop deducting tax from your earnings, as you will pay tax on this income in your country of residence.
Thank you.
-
RE: Can an inheritance be paid into a SIPP?
Hi,
You can add this small inheritance into your pension scheme. If dong so, takes you over your earnings threshold for tax relief, you will pay tax on it. You can see guidance here:
Check if you have unused annual allowances on your pension savings
Thank you. -
RE: Private Pension Contributions Tax Relief
Hi,
In the current tax year, you can claim tax relief on pension payments up to the amount of income from employmnent or self employment or £60000, whichever is the lower.
Your pension provider claims tax from HMRC and you enter the gross payment, your payment plus tax claimed, in the tax return, so that any additional tax relief due is claimed. Although you can pay more than the tax free threshold into your pension scheme, any amount above the threshold, does not qualify for any relief, so is taxed as income.
You can carry forward any unused earnings threshold from the 3 previous tax years and add it to the current year threshold, so that a larger payment can be made and still qualify for tax relief. Any payments over the threshold should be declared on SA101 supplementary page of a Self Assessment tax return. You can see guidance here:
Check if you have unused annual allowances on your pension savings
Thank you.