HMRC Admin 20 Response

Hi kfa720 k,
If this is your only PAYE income then normally the standard code 1257L.
If you are on a different code then you will need to contact HMRC to review Income Tax: general enquiries
Thank you.

Hi Robine,
No.  
Mortgaging a property to release equity, does not attract any UK tax liability; nor will it be a factor in calculating and capital gains tax liability, should you later dispose of the overseas property.
Thank you.

Hi shawides,
There are no income tax implications on the receipt of a cash gift, whether arising in the UK or from overseas, 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 Sakher Haddadin,
As long as your savings arise in tax years that you were not resident in the UK, then the savings are condidered to be capital and are not taxable.
Thank you.

 

Hi Ross Olusanya,
The declaration of trust is all that is required as the property is not in joint names.
HMRC will issue an acknowledgement to you to confirm the date the transfer is effective and your wife will declare her share(or revised share) from that date.
Thank you.

Hi Hannah Grinnall,
There are a number of points to consider where chargeability to CGT on compensation is concerned,
refer to CG15740 - Compensation: asset lost/ destroyed
and
CG12702 - Disposal of assets: examples.  
CG12948 - Capital sums derived from assets: s22(1)(a) TCGA92: compensation
and in particular to
CG12971 - Capital sums derived from assets: section 22(1) TCGA 1992: compensation: practical considerations
Thank you.

Hi csrs1000,
As the shares would normally be included within your P60 information then thiis will have no effect.
Thank you.

Hi Wayne Henley,
If you have an online account Personal tax account: sign in or set up you can view the code for 2024/25 to check this.
If unable to view online you will need to contact HMRC to review the code.
If your income returns to previous levels for 2024/25 then the code would go back to what is expected unless there is an underpayment being collected. 
Thank you.

Hi mikematthews0121,
Please refer to guidance at Self Assessment tax returns
Thank you.

Hi Stirling933,
Yes you can apply for that either by telephone 0300 200 3300 or writing to
HMRC,
PAYE & Self Assessment
BX9 1AS.
There is no guarantee however that the banks will have supplied the informatoin by then though.
Thank you.