HMRC Admin 20 Response

Hi V M,
Tax is due on the income in the year it is paid out and any error would therefore need to be taken up with the pension payer.
Thank you.

 

Hi steveb,
Please refer to guidance at Individual Savings Accounts (ISAs)
Thank you.
 

Hi ap2048 ap2048,
1.You need to advise of losses within 4 years of the year in which they arise, this can be on a return or on a letter  
2. Previous years losses can be carried forward until such time you need to use them. If you want to use them then yes this needs to be shown on a tax return.
Thank you.

 

Hi Star Gazer,
1. UK banks/building socities notify HMRC of interest paid so if your total intertest from these sources is less than £10,000 you do not need a tax return.
Do not include any interest paid from an ISA in these figures. if your interest is from any other source, you would need to advise in writing and provide evidence.  
2. As we are not notified of dividends, you will need to also advise of the correct figures yourself. this can be done in writing or by telephone as no tax is deducted at source on these.
Thank you.

 

Hi HMRC1234,
Per RDRM13220 - Residence:,
The following parts of the SRT allow for days attributable to exceptional circumstances to be discounted: 90 day tie (RDRM11570) – an individual spends more than 90 days in the UK in the previous tax year, or the one before that, you would therefore need to refer to this in your tax return and give the dates that apply and the nature of execeptional curcumstances.
Thank you.
 

Hi Iris Chan,
Please refer to Self Assessment tax returns Who must send a tax return
Thank you.

Hi dan2024,
As you transferrred part of the ownership in 2018, you would need to report a gain from then based on the transfer, as such you will only account for the cost of the 50% purchase price now when selling.
Owner 2 should then use the value  when they acquired it - please note is it the market value and not necessarily the morgage price that you are using, for the gain in 2018.
You will need to submit a late return or amendment to delcare this - Tax when you sell property
Thank you.