HMRC Admin 20 Response

Hi,
There are no capital gains implications of a transfer of assets between a husband and wife or civil partners.  
Please have a look at HS281 which covers situations where an individual is divorcing, as the rules changed on 6 April 2023.  
(HS281 Capital Gains Tax civil partners and spouses (2024)).
Thank you.

Hi,
You would use a just and reasonable exchange rate in use at the time of acquistion in 1989, to work out your acquistion costs.  
This figure should be used when working out if there is a capital gain.  
For your convenience, there are exchange rates at:-
Exchange rates from HMRC in CSV and XML format and for older rates at:- 
Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009.
You are free to use any of the supplied rates or one of your own choosing, such as from a recognised stock exchange.
Thank you

Hi,
As the disposal of your shares ocurred outside of the UK, then the disposal should have been declared in a self assessment tax return, even if the gain was below the annual exempt allowance (there in no deminimis limit for foreign income or capital gains).  
As it is now too late to amend your 2020 to 2021 tax return, you should write to H.M. Revenue and Customs Self Assessment BX9 1AS, notifying of the share disposal and the resulting gain.  
Provided the recalculation of your 2020 to 2021 tax liability to include the capital gain, will not result in futher a further tax liability (as below the AEA) no futher action would be taken.  
If further tax is payable, a Revenue Assessment would be raised and a charge placed on your self assessment record, which would be subject to late payment interest and penalties.
Thank you.

Hi,
Yes you will need to advise HMRC that you have returned as your records will need to be updated and new tax codes issued where applicable.
You can do this by telephoning 0300 200 3300.
Thank you.

Hi,
If once your submit your 2023/24 payments on account are due for 2024/25 these payments are split into 2 payments due 31 Janaury 2025 and 31 July 2025.
Thank you.

Hi,
You can check that your 2023/24 Self Assessment was submitted on your online account Personal tax account: sign in or set up.
You can also contact HMRC to check if submitted  Self Assessment: general enquiries
Thank you.

Hi,
Your income is £50,936.97 (plus savings interest) after your salary sacrafice pension payments, so your ANI is over £50K - this means your are subject to the Higher Income Child Benefit Charge, and must complete a Self Assessment tax return.
Thank you.

Hi,
When you retire, contact us by webchat or phone via Income Tax: general enquiries- we can project your income for the rest of the tax year, and amend your tax
codes to ensure you pay the right amount of tax.
Thank you.

Hi, 
If you are wanting to transfer credits for past years, you will need to fill in a CF411 from for any period prior to 2010.
Any period post 2010 you fill in form CF411A.
If you want to transfer the credits for current and/or future years you would need to contact the Child Benefit Office to switch the claim to your spouse.
Thank you.


 

Hi,
If you are wanting to transfer child benefit credits (Specified Adult Childcare Credits) via a CA9176 form, one of the requirements for us to award a transfer is that the original claimant (you) will not be left with a gap if we were to transfer the credits to a relative.
If you would be left with a gap in the tax year if the credits were to be transferred, we would not award a transfer. 
The threshold for a qualifying year all depends which year/years you are wanting to transfer.
Please find a link below to the national insurance rates.
RRates and allowances: National Insurance contributions
If you want to check yourself, you can either set up a PTA on the Gov.UK website or contact us via phone or Webchat. Please find links below
Personal tax account: sign in or set up
Ask HMRC online - Ask HMRC - GOV.UK (tax.service.gov.uk)
Number 0300 200 3500
Text Relay 18001 0300 200 3500 (Text Relay)
Overseas +44 191 203 7010
Open Monday to Friday: 8am to 6pm
Closed on Saturdays, Sundays and Bank Holidays.
Web Address www.hmrc.gov.uk/ni
Thank you.