HMRC Admin 19 Response

Hi,

You would not meet the criteria to complete a return.

Thank you.

Hi,

If you are an independent contractor outside of IR35, you need to have bonus payments included in the bonus clause of the contract, otherwise you may fall under IR35 rules.

Bonuses can be paid to IR35 contactors.

Thank you.

Hi,

As you are a sole trader, you will need to declare your freelance work in SA103, self employment and again in SA106.  

If the other country has the right to tax this income, you will also need to declare it in SA106 and claim a foreign tax credit. If tax has been deducted in the other country when it is not taxable in that country, you will need to claim back the tax from that other country.

Thank you.

Hi,

You would need to take the residency tests to confirm if split year treatment applies. If it does, you would be taxable on the income arising after the commencement of your UK residence.  

RDR3 Statutory Residence Test

Thank you.

Hi,

Residential property and land is taxed at the lower rate of 18% and the higher rate of 28%, unless Business Asset Disposal Relief can be claimed.  

Non residential property and land is taxed at the lower rate of 10% and the higher rate of 20%.

Thank you.

Hi,

If they are not taxable in the UK and no UK tax has been decuted from them, then you do not include them on a Self Assessment tax return.

Thank you.

Hi,

The sale of the name would be the same as the sale of goodwill as the business name or brand is part of what is defined as goodwill. Relief under BADR may be due, subject to the restrictions outlined in the guidance below: 

CG64006 - Business Asset Disposal Relief: relevant business assets - exclusion of goodwill in certain circumstances from 3 December 2014

Due to the technical nature of the second part of your query we would recommend you contact us to speak to a technical inspector or write to us outlining your query providing as much information as you can.  

Contact HMRC

Thank you.

Hi,

If you are completing a paper tax return for 2022/23 to carry back losses to 2021/22, SA103(S) will need to show the loss to carry back in box 34 and in SA103(F) box 79.

In both cases, boxes 15 and 17 of SA110 also need to be completed. If this is done in the first capture of your tax return, a credit will be created and added to your Self Assessment statement.  

If this is done as an amendment to the original capture of the tax return, then it will need to manually calculated. You do not need to amend your 2021/22 tax return.

Thank you.

 

Hi,

Please register for Self Assessment. The link below advises how to register as either self employed or not self employed. It is the same page for both.

Register for Self Assessment

Thank you.

 

Hi,

It would only need to be reported by the parent if it is above their Personal Savings Allowance. You can see guidance here:

Interest on savings for children

Thank you.