HMRC Admin 20 Response

Hi Eric_2024,
Please refer to Work out your rental income when you let property which covers allowable expenses, this includes management fees.
More information about what can be deducted from rental income can also be found at PIM1900 - Deductions: and onwards.
Thank you.
 

Hi 
I have checked the guidance at PIM2026 & PIM2030.  The guidance does allow a bit of wiggle room “there is usually no improvement if trivial increases in performance or capacity arise”.  I do not think that a towel radiator is that much more of an improvement to a normal radiator.  I would suggest recording that expense along with your other expenses for replacing the bathroom as revenue expenses rather than a capital improvement.
Thank you.

Hi 
As the re-mortgage is against your main residence you cannot claim tax relief on these mortgage payments to set against the property you rent out.
More information about interest relief can be found in our Property Income Manual PIM2050 - Deductions: interest: contents
Thank you.

Hi Freya,
I would advise you to refer to the following link: Repaying your student loan  for information regarding repaying Student Loans.
Thank you.

Hi Jason,
As per the following link: Trusts and taxes Types of trust, any income held within the Bare Trust, your son would have the right to all of the capital and income of the Trust.
In terms of the rental income, in some cases it will be made clear that the legal owner is not the beneficial owner. The legal and beneficial ownership may be separated by a valid Declaration of Trust. Guidance may be found on Gov.uk and the conditions required.
Thank you.

Hi Dave,
We are unable to review personal matters in this forum.  
For an answer to a personal question of this nature, you would need to contact our  Self Assessment: general enquiries 
Thank you.

Hi Bethania,
It applies from the separation - please refer to Capital Gains Tax: separation and divorce
Thank you.

Hi 
As your gains, minus losses are below the annual exempt allowance for the tax year in which they were disposed of, there is no requirement for your to report them.  
If you want to claim losses, to set against a future gain, you will need to write to HMRC, within 4 years of the end of the tax year that the losses arise, providing supporting evidence.
Thank you.

Hi Sylvio,
There are no income tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Further guidance can be found here (Tax on savings interest and Tax on dividends).  
Thank you.

Hi wijwql38,
HMRC is unable to provide any further detail on how these changes will apply to an individual’s personal circumstances at this time.  
Policy is still being written and may change. 
Thank you.