HMRC Admin 19 Response

Hi,

1. Assets transferred between spouses are on a no gain no loss principal.
2. We do not give advice on Stamp Duty or Land Transaction Tax on this forum. There is however guidance here: Land Transaction Tax
3. You will need to check with you mortgage provider.
4. Yes, a Form 17 will need to be submitted to HMRC within 60 days of the execution of the deed of assignment.
5. Yes, your spouse will be liable for Income Tax on rental income received for this property on or after the execution of the deed of assignment. Your spouse will be able to deduct all allowable expenses related to the rental property. This is provided that you transfer 100% of the property income to your wife. The guidance is here: Work out your rental income when you let property
6. Yes, that is correct. Your spouse who now has 100% beneficial interest will not be able to claim relief on the interest because the loan is not in her name. The guidance is here:    SAIM10030 - Relief for interest paid: general conditions: the claimant
7. The Capital Gains Tax owing will be based on the legal ownership at the time of the sale not on the beneficial ownership of the property income. If you still own 100% of the property and your wife is entitled to 100% of the beneficial interests, you will be liable for the Capital Gains Tax, not your wife.
8. No, we do not deem the form 17 and deed of trust to be tax avoidance or tax evasion.
9. Most types of trusts giving an interest in property to somebody who is not the legal owner now need to be registered with HMRC through the Trust Registration Service. You can find guidance on the registration requirements and how to register here: Register a trust as a trustee. There is also more information about what type of trusts need to be registered here: TRSM23050 - Types of trust that need to be registered: contents: excluded express trusts: contents: property ownership

Thank you.

Hi,

1. Please speak to our VAT online services team regarding this: Get help using VAT online services 
2. You can choose a separate trading name for your business but this is optional. Any trading name(s) you do have for your business, please make this known on your application.
3. Please provide your principal place of business.This could be in the UK or outside the UK.
4. Please answer the question in terms of what you are doing at the moment.
5. A bank statement is an acceptable form of evidence to provide to us.

Thank you.

Hi,
If you have purchased the goods yourself, then unfortunately there is no opportunity to recover the VAT.
If the contractor purchased the goods, then they would charge you 5% for both the materials and the labour.
There is a DIY Scheme for recovering VAT on residential properties but this would only be if the property was empty for 10 or more years.
Thank you.

Hi,
Can you confirm if the goods imported are of a value above or below £135?
If the goods are above £135, who will be the importer of the goods, will it be your business or the end customer?
Thank you.

Hi,
Please contact our VAT online services team and they can resolve this for you.
Get help using VAT online services
Thank you.

Hi,
You will need to complete a Self Assessment tax return. In it, you will declare your employment income and self employment gross profit and expenses 
Self Assessment: Employment (SA102)
Self Assessment: self-employment (short) (SA103S)
In the SA100 you declare the gross payment into your pension scheme in box 1 of page TR4 or in the equivalent sections of the online tax return. This will ensure that you recieve all of the tax relief due:
How to complete your tax return for Self Assessment
Thank you.
 

Hi Gwbiker,
For the purposes of timescales, a bank transfer payment is slightly different to the online and post categories. The timescale for the team who will allocate your payment is currently 45 weeks, they are currently working on work dated 16 December 2023.
Thank you.

Hi K P,
The timescale for the team who will allocate your payment is currently 45 weeks, they are currently working on work dated 16/ December 2023. However, if you have already spoken to an advisor on the helpline, and an escalation has been issued to the International team, your payment should be allocated sooner. Unfortunately, we cannot provide a timescale for the escalation.
Thank you.

Hi susan johnson,
If your daughter requires the credits for her own State Pension entitlement, then no, you will not be able to apply for the transfer of the credits. However, if you daughter receives her full earnings from her employer then the credits may be transferred.
You will have to wait until the end of the affected tax year before you can apply and we can review the enquiry then.
Thank you.


 

Hi,
Online and post applications are currently showing a timescale of 8 weeks from the date they are received.
At present there are a lot of factors to why there maybe a delay in obtaining a A1 certificate, and we are unable to provide anything further on this forum.
Thank you.