HMRC Admin 19 Response

Hi,

If the employee is doing work for the employer then this should be treated as earnings and declared to HMRC as such. It would not matter if it is contractual or if the employee can refuse to do it. HMRC's stance would be this would treated as normal earnings.

Thank you.

Hi Renuka Nadeeshani, 

You would need to contact the Department for Work and Pensions as they deal with National Insurance number registrations:

Apply for a National Insurance number

Thank you,
 

Hi,

Losses made on investments in stocks and shares ISA cannot be used to offset capital gains on other investments as you do not report any gains, and, or interest from an ISA.

Thank you.

Hi,

Both should be declared separately. A, would be classed as foreign interest and B, as foreign dividends. They are declared separately as their rates of tax are different.  

In SA106, the interest from each foreign country should be itemised, with any tax deducted in the section for interest. The dividends from each country should be itemised in the section for dividends on page F2 of SA106.  

A list of country abbreviations can be found here:

Foreign notes (2022-23)

Self Assessment will add together your UK interest and foreign interest and work out the tax free amount of your Personal Savings Allowance. The same happens with dividends and the Dividends Allowance.

Thank you.

Hi,

With the remittance basis, Foreign Tax Credit Relief is only available for foreign income or capital gains that are remitted to the UK and have had foreign tax deducted from it. No Foreign Tax Credit Relief is allowable for foreign income or capital gains not remitted to the UK.

Thank you.

Hi,

As you have already invested your limit for ISAs for 2023 to 2024 then you now cannot transfer them to reduce the tax. As they have already matured, transfering them to your husband does not remove the Capital Gains Tax that will be due and this would not qualify for relief under the rules of transfering the shares to a stocks and shares ISA.

Your cost price will be the £13000 that you paid for them.

Thank you.

Hi,

The UK taxes income and capital gains on the arising basis, that is, the income or capital gain is taxed in the tax year that it arises. The guidance below advises that any extra payments you get from deferring, could be taxed.  

Delay (defer) your State Pension

The rules for arrears of pension and pay, do not apply to the State Pension. As you chose to defer your State Pension the pension is now taxable in the tax year that it arises.

Thank you.

Hi,

You can see guidance here:

CRYPTO61214 - Decentralised Finance: Lending and staking: Income tax: Making a DeFi loan: Nature of the return

Thank you.

Hi,

No, as this is not evidence that it is solely business mileage. Logs, and, or receipts should be kept to support any claims.

Thank you.

Hi,

The charity gets the gift aid amount plus your actual donation so in your example they would get £125.

On your return you should declare your actual donation and further relief would be due to you if you are a higher rate tax payer. You can see guidance here:

Tax relief when you donate to a charity

Thank you.