HMRC Admin 19 Response
-
RE: German State pension payments
Hi,
You do not declare the German State Pension as this is only taxable inGermany. If you have no other reason for a tax return, then one is not required.
Thank you. -
RE: Electric Vehicle on PCP as 100% First Year Allowance
Hi,
With a PCP you are only considered the owner of the vehicle after the balloon payment is made. Until then, you cannot claim allowances for this vehicle. Up to that point the vehicle is effectively rented.
Thank you. -
RE: Capital Gain Tax
Hi,
Yes, as you will already need to complete the return to declare the rental income.
Thank you. -
RE: Tax rates on final disbursement from US trust
Hi,
You can see guidance on non residential trusts and whether Income Tax or Capital Gains Tax is applicable below. It also advises how to report the trust income/gains in a Self Assessment tax return:
Non-resident trusts
Thank you. -
RE: Private use adjustment - Foreign rental income tax allowance
Hi,- No, it is not.
- No, items are covered by private use as this reduces the actual gain. You can see guidance here: HS283 Private Residence Relief (2024)
-
RE: Should i use "Purchase Price" or Purchase Fair Market Value (FMV) for CGT calculations on ESPP
Hi,
It is the discounted purchase price you paid for the shares that you will use when working this out.
Thank you. -
RE: Rent a room scheme
Hi,
Yes, you need to complete a tax return to declare that you have rental income and that you are claiming rent a room relief. If you have no other taxable income, the balance will be covered by your personal allowances.
Thank you. -
RE: Adjusted Net Income (Tax Free Childcare and 30 free hours) - Salary Sacrifice
Hi,
The employer contribution is not included. You can see more information on adjusted net income here:
Personal Allowances: adjusted net income
Thank you. -
RE: Gift hold-over relief on Ltd company shares
Hi,
We cannot comment on future events as legislation and,or, plans may change.
Thank you. -
RE: Double taxation or Self Assessment