HMRC Admin 19 Response

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Self Assessment: general enquiries

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Hi,

Please note that receipt of a foreign pension, however small, is one of the criteria for completing a Self Assessment tax return. Therefore, based on the information you have provided, your father should start to complete Self Assessment tax returns again. You can see guidance here:                                

 Check if you need to send a Self Assessment tax return                                        

Details of his Danish pension should be entered in the appropriate section of the Foreign pages (SA106).                            

Self Assessment: Foreign (SA106)

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Hi,

You do not include that you have already paid tax towards the year. The calculation needs to show the full amount due for the year.

There should be a section regarding the payments on account. If you cannot locate it you can complete form SA303. You can see guidance here:

Understand your Self Assessment tax bill

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Hi,

You would not meet Self Assessment criteria for that year.

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Hi,

The amount can still be recovered in your 2023/24 code if you are still in employment and earning enough that the collection of the underpayment will not double the amount of tax you would pay in the year.

For the 2022/23 return you would only answer regarding the 2022/23 year as the 2021/22 underpayment is being dealt with separately.

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Hi,

IR35 is off payroll working and would apply to a worker, who provides services to a client through their own intermediary and who would otherwise be an employee, if it were not for the intermediary. Under IR 35 rules, tax and National Insurance would be deducted. You can see guidance here: 

Understanding off-payroll working (IR35) 

SA103F, box 82 is where you would declare 'other tax taken off trading income', if the tax deducted is not part of the Consruction Industry Scheme.

If you have regisered for Self Assessment as self employed, class 2 and class 4 National Insurance will be calculated by Self Assessment.

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Hi,

Please note that the NIC, social security tax deducted from employment income does not have to be reported as 'tax deducted' on a Self Assessment tax return. You can see information here:                             

National Insurance: introduction

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Hi,

It would not be treated as a late submission. You can amend the return within 12 months of the due date.

When you are amending the return you would be altering the section for pension contributions.

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Hi,

Yes, you can carry forward your 2022/23 capital loss to 2023/24 by entering the appropriate details in the capital gains pages, SA108. You can see guidance here:

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

Capital Gains Summary notes

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Hi,

US government bonds, sometimes known as T-bills or treasury bills are generally taxed as income rather than capital gains. The return is paid at maturity rather than as regular interest payments.  

In the UK, these are known as deeply discounted securities, with the discount being the difference between the price at which they were issued and the price received at maturity.  

On a foreign investment the income is the difference between the purchase and redemption price after each has been converted to sterling on the day the transactions took place, so includes any foreign exchange gains. Losses cannot be deducted. You can see more information here:

SAIM3010 - Deeply discounted securities: introduction

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