HMRC Admin 20 Response
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RE: Reimbursed expenses questions for tax return (professional fees and subscriptions)
Hi,
If you do not complete a self assessment tax return you can claim tax relief by completing form P87 and returning this to us by post along with evidence of the professional subscription payment you have made for all years you are claiming for.
Claim tax relief for your job expenses
Thank you. -
RE: Untaxed Interest on Savings and Investments
Hi,
The untaxed savings income included in your tax code is a estimated figure carried forward from a previous tax year.
We check if the tax you have paid is correct once we get the actual savings income details from the banks, this happens automatically once the tax year has ended.
If you require a breakdown of how the untaxed interest has been calculated please contact the helpline.
Income Tax: general enquiries
Thank you. -
RE: Claim a Tax Refund If You’ve Stopped Work (P50 form)
Hi at1,
We would need to check your tax records to review the progress of your P50 claim.
Please contact the helpine who will be able to advise further.
Contact HMRC
Thank you. -
RE: Pension Income
Hi,
You can usually take up to 25% of the amount built up in any pension as a tax free lump sum.
The tax-free lump sum does not affect your personal allowance.
Tax is taken off the remaining amount before you get it.
Tax when you get a pension
Thank you. -
RE: Marriage Allowance
Hi,
You can review your claim for marriage allowance once you know your total income for the year.
If your savings interest pushes your income above £12570 this may then mean you will pay some tax.
If this happens you can then decide what is financially more beneficial for you as a couple.
If you cancel because of a change in income, the allowance will run until the end of the tax year (5 April)
Marriage Allowance
Thank you. -
RE: Pensions and PAYE
Hi,
As long as your tax code is been operated on a cumulative basis you should pay the correct amount of tax on your one off pension payment in March.
This one off larger payment may result in your estimated income for the following tax year been incorrect however you can review & update this on the personal tax account.
Personal tax account: sign in or set up
Thank you. -
RE: payment for ending employment contract where the staff hasn’t started working, taxable or gift?
Hi,
As you have stated, the individual had signed a contract, therefore, they are an employed earner.
Any monies derived from an employed earners employment must consequently be subject to PAYE tax and National Insurance contributions.
This cannot be treated as a tax free gift, redundancy and so on.
You would add the employee to the payroll in the normal way, using the starter checklist to arrive at the correct tax code.
Thank you. -
RE: Part time second job tax
Hi Lee,
Please find attached some guidance to help you calculate how this income impacts the amount of tax you will pay.
Personal Allowances: adjusted net income
Thank you. -
RE: Application of Personal Allowance to taxable salary
Hi,
You are correct that the personal allowances would be deducted off gross pay, so the standard personal allowances of £12500 divided by 12 = £1041.66 per month tax free, anything over this is then taxed at the appropriate tax rates.
If your wife is resident in Scotland your wife's income will be subject to the Scottish rates of income tax.
Please find attached a link to guidance which may help.
Income Tax in Scotland
Thank you. -
RE: Marriage Allowance / Starting Rate For Savings
Hi,
The marriage allowance works by reducing the personal allowances of the transferor and provides a tax credit to the spouse or civil partner who receives this to reduce their tax bill.
Each partner would retain their £5000 starting rate if applicable.
Tax on savings interest
Thank you.