HMRC Admin 18 Response
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RE: Maximum Savings Interest before I need to pay tax
Hi, Your wife's tax-free lump sum of £2,750 would not be included in the calculation for her overall income for the year, so she would have £1,820 of Personal Allowance remaining to add to the Personal Savings Allowance of £1000 and Starting Rate for Savings of £5000 available to her. As such, she can £7,820 in interest, tax free.
Thank you. -
RE: Shared tax
Hi, When you file your Self Assessment return, you will include your pay and tax from this and any other part time job. If you are then calculated as having overpaid tax, you can claim this overpayment through your Personal Tax Account.
Thank you. -
RE: Raise tax refund via P50 or claim refund via Self Assessment?
Hi, If you were made redundant in 23/24, you should receive your repayment when you file your 23/24 tax return. If it was in 24/25, you can use the P50 form, though some exceptions may apply - read more here:
Claim back Income Tax when you've stopped working (P50)
If you do receive a refund via the P50, please remember to declare this refunded amount in your 24/25 tax return.
Thank you. -
RE: Request for Certificate Of Residence in UK - How long to receive?
Hi, If you have not received a reply as of now, contact us by webchat or phone via:
Income Tax: general enquiries
to allow us to check on the progress of your application.
Thank you. -
RE: self assessment and basic state pension from Lithuania
Hi, Article 22(1) covers 'Other Income' of the tax treaty between the UK and Lithuania and would apply in relastion to state pensions, as they are not mentioned in the pensions article (18). (UK/LITHUANIA DOUBLE TAXATION CONVENTION). This means as a UK resident, in receipt of a Lithuanian state pension, it is only taxable in the UK and should be declared in a self assessment tax return.
Thank you. -
RE: US pension and UK Tax
Hi, A lump-sum payment derived by a resident of the UK from a pension scheme established in the USA, shall be taxable only in the USA. Please have a look at the guidance at:
DT19850PP - Double Taxation Relief Manual: Guidance by country: United States of America: Contents
which includes the double taxation treaty. A 401(k) plan is a company-sponsored retirement account to which employees can contribute income, while employers may match contributions. There are two basic types of 401(k)s—traditional and Roth—which differ primarily in how they're taxed. With a traditional 401(k), employee contributions are pre-tax, meaning they reduce taxable income, but withdrawals are taxed. Employee contributions to Roth 401(k)s are made with after-tax income: There's no tax deduction in the contribution year, but withdrawals are tax-free. Employer contributions can be made to both traditional and Roth 401(k) plans.
Thank you.
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RE: How to check previous years' self employed tax?
Hi,Your Self Assessment calculations for previous years show in detail the rates applied by our systems to all income declared - if you would like copies of these calculations and cannot access them via your Personal Tax Account or accountant, contact us by webchat or phone via:
Self Assessment: general enquiries
If you still wish to calculate this yourself, the calculator previously provided should provide largely accurate results. Alternatively, you can calculate your tax bill yourself using the rates and tables provided, use a 3rd party calculator, or employ another accountant.
Thank you. -
RE: CGT on shares
Hi, Please have a look at the guidance on tax when you sell shares. (Tax when you sell shares).
Thank you. -
RE: Offset losses on shares against gain on property
Hi. yes, in year losses can be used for this and these are used before any annual exempt amount.
Thank you. -
RE: CGT - shares
Hi, yes, this would be a negligible value claim - Negligible value claims and agreements
Thank you.