HMRC Admin 19 Response

Hi,

As the work will be done on UK soil, you need to declare it here and you will use the same UTR that you have for the rental income. All income must be declared in sterling. You can see guidanc ehere:

Tax on foreign income

Thank you.

Hi,

You can find further guidance here:

Capital Gains Tax: what you pay it on, rates and allowances

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Hi,

The company has to have stopped trading in order to qualify. You can see guidance here:

HS286 Negligible value claims and Income Tax losses on disposals of shares you have subscribed for in qualifying trading companies (2023)

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Hi,

The gain on a policy is the sum paid out, minus the payment into the policy.  When the policy is surrendered, you will be given a chargeable event certificate, as calculated by the policy provider. This gain is subjet to tax as interest. You should discuss this with your policy provider, as they have more information about your policy.

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Hi,

You will need to contact our Inheritance Tax team for advice.

Inheritance Tax: general enquiries

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Hi,

The pension threshold is the lower of £60000 or your annual employment income. Any pension payment that exceeds the threshold does not qualify for tax relief.

If you are a basic rate taxpayer, your pension provider will claim basic rate tax from HMRC and add this to your pension. No further relief would be due.  

If you pay tax at the higher or additional rate, then you declare your gross pension payment in your tax return, so that you can claim additional relief due. fI this results in an overpayment of tax, a refund will be made through Self Assessment.

Thank you.

Hi,

There is no minimum period of ownership before capital gains rules are applied. A capital gain or capital loss arises where the disposal value is greater or lower than the allowable costs, such as, acquisition value, fees and so on.  

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Hi,

Anyone who leaves the UK is asked to complete a P85, so that our records are up to date. We also ask you to complete a P85, even if  you continue to be employed by a UK employer, when resident outside of the UK. This can be done online here:

Get your Income Tax right if you're leaving the UK (P85)

Thank you.

Hi,

After your dividend allowance of £1000 is deducted, your remaining dividends would be taxed at 33.75% .

Thank you.

Hi,

Yes, you are correct.

Thank you.